MassMutual Ascend
4.00%
3 Year Term
Apply now
company Information
Company Name
MassMutual Ascend
product Name
SecureGain 3 No MVA
Description
MassMutual Ascend is a leading provider of annuities, offering annuity products that are transparent and easier to understand, so you always know what to expect. Their “A++” rating by AM Best follows more than 40 consecutive years of an “A” or higher rating. This means you can have confidence knowing
they'll be there when you need them. MassMutual Ascend is a wholly owned subsidiary of MassMutual, one of the largest life insurance companies in the U.S., founded in 1851.
am best rating
A++ Superior (1st of 13 ratings)
Product Type
MYGA
Product description
Offers you safety and predictable growth with SecureGain 3. This fixed annuity offers two three-year terms with the option to surrender without penalty during the last 30 days of the initial three-year term. This product accepts single purchase payments.
You will preserve your principal and earn a fixed rate of return.
You might hear fixed annuities also called CD-like annuities or multiple-year guarantee annuities (MYGA's).
If you are sensitive to loss and don't want to lose a penny, a fixed annuity might be a good fit for some of your savings.
Read our educational articles on fixed annuities to learn more.
Guaranteed Rate Lock Period:
The rate is locked for 60 days from the date of application. If the funds are received after that period the rate might be subject to change and will be the rate in effect at that time.
term
Two 3-year terms
minimum investment
$ 10,000
maximum investment
$ 1,000,000
maximum age
89
withdrawal allowance
In the first contract year the withdrawal allowance is 10% of the purchase payment. Starting in the second year there is an opportunity to take a withdrawal of up to 10% of the account balance penalty-free.
what we like
- No surprises because you know what you will earn
- Lower agent commission
- Balance withdrawals
- Two 3-year terms
- RMD Friendly
what we don’t like
- The product automatically renews. Watch the maturity date closely.
- or -
Guaranteed Returns
Choose an investment amount and we’ll show you how much you can earn.
| YEAR | RATE | EARNINGS | CUMULATIVE EARNINGS | BALANCE |
|---|---|---|---|---|
| 1 | 3.80% | $ ? | $ ? | $ ? |
| 2 | 3.80% | $ ? | $ ? | $ ? |
| 3 | 3.80% | $ ? | $ ? | $ ? |
| Total | $ ? | $ ? | $ ? | |
Surrender Charge Schedule
Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.
percentage charged to withdrawal
market-value adjustment (MVA)
A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.
They allow companies to pay a higher rate and make longer-term investments.
MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.
other Information
| moody’s rating | Aa3 Excellent (4th of 21 ratings) |
|---|---|
| S&P rating | A+ Strong (5th of 21 ratings) |
| phone number | (800) 854-3649 |
| Product brochure |  |
| agent commission | 0.50-2.00%. We are paid from the insurance company general fund. It is not deducted from your account value. 100% of your money is working for you from day one. We could earn a higher commission based on sales volume and taking a more active role in the application process. |
| LOGIN FOR | mybusiness.massmutualascend.com/login |
| Rate Effective Date | February 26th 2024 |
| premium Type | Single Premium Annuity |
|---|---|
| account Type | Personal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b). |
| Not available in | This product is only available in the following states (AK & UT). |
| options at maturity | 30 Days prior to the end of your contract term, you will have the option to choose from the following. 1. Withdrawal any amount free of charges and fees. |
| death benefit provision | If you pass away before the end of your annuity contract, your beneficiaries will receive the accumulated policy value. This value will include all interest you have earned and be passed without any charges or fees. |
| taxes | Annuities typically grow tax-deferred. If you withdrawal money that has never been taxed, withdrawals are 100% taxable. Non-qualified withdrawals have been taxed already, so only interest is taxed. This is called an exclusion ratio. Interest would be taxed, but the principal would not. Please work with a qualified specialist. |
| surrender schedule | 9%, 8%, 7%, 6%, 5%, 4%, 0% |
|---|---|
| free-look period | 20 Days |
| RMD | Yes |
| market value adjustment | No |
