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Why annuities from MassMutual Ascend?
MassMutual Ascend## is committed to going above and beyond – so when it comes to your financial future, the impossible feels possible.
MassMutual Ascend is a leading provider of annuities and a wholly owned subsidiary of MassMutual, one of the largest life insurance companies in the U.S., founded in 1851.
As a proud subsidiary of MassMutual with more than five decades of experience, MassMutual Ascend is proud to offer customers a level of strength and stability they can count on for years to come. They take a long-term approach to managing business that is focused on delivering value to their customers while maintaining the highest level of financial strength.
MassMutual Ascend has a long history of financial strength and stability. They've received an "A" or higher rating by AM Best for more than 40 years.
MassMutual Ascend products available through Flourish Annuities*
|
Product |
Rate<†† |
Term†† |
Penalty-free withdrawal†† |
|---|---|---|---|
|
Advantage 5 Advisory |
5.60% ($250k+)
5.50% ($50k+) |
5 years
|
Available starting in Year 1
|
What is the MassMutual Ascend Advantage 5 Advisory MYGA?
The Advantage 5 Advisory MYGA is a single premium multi-year guaranteed annuity offering a five-year initial interest rate guarantee period for a secure, low-risk way to grow money for retirement.††
What this product offers
Protection from loss
Regardless of market conditions, you won’t lose the money you contribute to your fixed annuity unless you take a withdrawal or surrender your annuity during its early withdrawal charge period.††
Steady, predictable, growth
To help build your savings, your annuity’s interest rate is guaranteed over a five year period. No matter how the market performs, the value of your annuity will grow at a steady rate.††
Growth is tax deferred
Your annuity offers the opportunity for your money to grow tax deferred.‡‡ This means no taxes are paid until you take a withdrawal, so your money can grow at a faster rate than it would in a taxable product.††
MassMutual Ascend Advantage 5 Advisory product information††1
|
Guaranteed periods
|
5 years
|
|
Issue ages
|
Qualified: 0-89 years
Non-qualified: 0-89 years Inherited IRA: 0-75 years |
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Premium
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Minimum of $50,000 and maximum of $1,000,000 - $2,000,0002
|
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Death benefit
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If the owner dies before annuitization or surrender, the beneficiaries will receive at least the full contract value, with no withdrawal charges or market value adjustment (MVA) applied.
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Penalty-free amount‡‡
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Before the first contract anniversary: up to 10% of the total purchase payment may be withdrawn without incurring an MVA or early withdrawal charge. After the first contract anniversary: up to 10% of the account value as of the most recent contract anniversary may be withdrawn without incurring an MVA or early withdrawal charge.
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Extended care waiver
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After the first contract year, if the owner is confined to a nursing home or other long-term care facility for at least 90 consecutive days, up to 100% of the account value can be withdrawn without incurring early withdrawal charges and MVAs.
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Terminal illness waiver
|
After the first contract year, if diagnosed by a physician as having a terminal illness, option to withdraw up to 100% of the account value without incurring an early withdrawal charge or MVA. A terminal illness is defined as having a prognosis of survival of 12 months or less, or a longer period as required by state law.
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Market value adjustment (MVA)
|
During the initial term or a renewal term, an MVA will apply if the contract is surrendered or a withdrawal above the free withdrawal allowance is taken.
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Withdrawal charges‡‡
Amounts withdrawn in excess of the penalty-free withdrawal allowance may be subject to early withdrawal charges and a market value adjustment.3 Withdrawal charges are shown below.
Early withdrawal charge schedule
| Contract year | |||||
|---|---|---|---|---|---|
|
1
|
2
|
3
|
4
|
5
|
6+
|
|
9%
|
8%
|
7%
|
6%
|
5%
|
0%
|