Get the collateral you need to close on your business loan... fast!

You know just what it’ll take for your business to succeed. It could be a new piece of equipment, upgraded office technology, expanded inventory, or financing to get a brand new business or acquisition off the ground.

Whatever it is, a loan from your lender will help you do it. If your lender requires life insurance as collateral, you won’t want to wait weeks and weeks for the policy you need to receive your loan. This is where QuickClose^SM can help. Fast.

QuickClose^SM is available for new or established businesses and can provide the security your banker requires to approve your loan.

QuickClose^SM -- your collateral solution

QuickClose^SM is a program developed by Massachusetts Mutual Life Insurance Company to expedite the application process and approval time of a life insurance policy used to secure a business loan.* QuickClose^SM has proven to be a successful option for thousands of business owners and their lenders. Working with you and your lender, we can help you select an insurance policy that will help you meet your borrowing terms, protecting you and your business -- without delaying the processing of your loan.

How QuickClose^SM works

You (or your business) own the life insurance policy, choose your beneficiary, and make the policy premium payments. While your loan is in effect, your lender retains "Collateral Assignment" of the policy. That means if the person insured by the policy dies while the loan is in effect, your lender has the right to claim a portion of the policy proceeds equal to the outstanding loan balance. Any remaining proceeds are paid to the beneficiary you’ve named.

If your life insurance policy proceeds are not paid out during the term of the loan, the Collateral Assignment ends when you’ve paid off your loan. Your lender will no longer have any rights to the policy. Your policy remains in effect as long as you continue to make premium payments (or, in the case of a term policy, the term is completed and you do not renew it).

Many product choices and coverage amounts

You can choose from any life insurance product in the broad spectrum of individual products offered by Massachusetts Mutual Life Insurance Company(and its subsidiaries), -- whichever best meets your needs. We will explain the benefits of each type and will help you select the appropriate policy and amount of coverage -- up to $10,000,000.

Easy to apply

When life insurance is required as collateral for your business loan, all you or your lender need to do is call us.

No delay

Knowing how important it is to you to have your loan application processed promptly, we will ensure your insurance application is processed quickly - usually within 7-10 business days. Meanwhile, you can be working with your lender on other aspects of your loan application.

Let QuickClose^SM open the way

If you’ve just applied for a loan -- or will be doing so soon -- and find you need life insurance to help meet collateral requirements, call us today for details about QuickClose^SM. It can make all the difference in helping you quickly get the loan you want to help your business succeed.

*QuickClose^SM is not a guarantee issue program. Your application will be fully underwritten and coverage may be declined.
QuickClose^SM is a servicemark of Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001