MassMutual Starts Income Planning Unit

NU Online News Service, April 26, 2004, 11:33 a.m. EDT – Massachusetts Mutual Life Insurance Company, Springfield, Mass., is forming a unit that will sell financial products and income-planning services to retirees.[@@]

Organizers of the new MassMutual Savings Product Division hope to attract retirement account rollovers with products aimed at conservative investors who are willing to accept some risk. Advisors affiliated with the division will use software from eMoneyAdvisor Inc., Conshohocken, Pa., to analyze clients' goals and product needs, MassMutual says.

Terri Forde, the former head of MassMutual's life and annuity strategic businesses, is the president of the new division, which should have about 38 employees by Dec. 31, MassMutual says.