Company Information
Company Name
MassMutual Life
Product Name
MassMutual Ascend SecureGain 5
Description
The SecureGain 5 is a single premium, multi-year fixed annuity with a five-year escalating fixed rate schedule resulting in a blended compounded rate. After five years, owners can withdraw, transfer, or reinvest their full account value. If no action is taken, a new one-year rate is declared and the annuity remains fully liquid with no surrender charges.
There are two interest rate bands available. The highest rate is for amounts over $100K while a lower rate applies to deposits between $10K – $99.9K. Accounts are available with or without an MVA provision. Higher rates apply to policies including an MVA.
Qualified, non-qualified, and inherited non-qualified funds (to age 75) are accepted. There are no surrender charges at passing.
AM Best Rating
A+
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
5.00%
Term
5 Years
Minimum Investment
$ 100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
89
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Annuity is offered from an A++ rated company and includes 10% free withdrawals all years. Policy does not automatically renew. No surrender charges at passing.
Notable Features
At no cost, the contract includes annuitization, extended care, and terminal illness liquidity waivers. MVA and non-MVA options are available at onset.
Other Popular Products
MassMutual offers competitive fixed, immediate income, and fixed-indexed annuities. Some fixed-indexed policies hold caps for the entire term. Their long term care, disability, and various life insurance plans are also well regarded.
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About MassMutual Life Ascend Life Insurance Company
Domiciled in Boston, Massachusetts, this well-diversified insurance and financial conglomerate has been serving their customers since 1851. They boast an A++ rating with AM Best and over $263 billion in invested assets.
They specialize in life, annuity, disability, and long term care insurance as well as retirement and investment planning. Practicing ethical business practices in compliance with all laws and regulations has helped guide this long-standing company for over 170 years.