The Massachusetts Mutual Life Insurance coverage Firm, higher often known as MassMutual, is a well-established and respected establishment that provides a variety of annuities designed to fulfill completely different retirement planning wants.
This evaluate dives into the completely different annuity choices obtainable from MassMutual, together with key options and who the annuity is finest suited to.
Right here’s all the pieces you’ll want to know.
What annuities does MassMutual supply?
MassMutual supplies a complete suite of annuity merchandise, from fastened annuities to variable annuities. Every product is designed to cater to completely different retirement earnings wants.
Here’s a detailed have a look at their particular annuity choices.
Secure Voyage
Secure Voyage is a single premium deferred fastened annuity. It affords a hard and fast rate of interest locked in for 3, 4 or 5 years, with choices for renewal.
Charges rely on the dimensions of your preliminary funding in addition to the speed interval you choose. For instance, in March 2025, the assured charge is 4.3 p.c however the one-year renewal charge drops to 2.25 p.c. For investments lower than $100,000, the speed is 4.05 p.c and affords the identical one-year renewal charge of two.25 p.c.
Key options and who it is best for
Key options and who it is best for
Key options and who it is best for
- Buy limits
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Minimal buy of $10,000 and a most of $1.5 million.
- Rate of interest assure
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Mounted for the chosen time period with renewal choices.
- Free withdrawals
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As much as 10 p.c yearly with out give up prices.
- Give up prices
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Give up charge prices decline over time and could also be waived for qualifying nursing dwelling stays or terminal sickness.
- Payout choices
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Lifetime earnings or fixed-period sure choices obtainable beginning as early as 12 months six of the annuity contract.
- Who it’s finest for
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Folks looking for a hard and fast charge of return and versatile earnings choices in retirement.
Premier Voyage
Premier Voyage is a deferred fastened annuity that provides a approach to develop your financial savings with a hard and fast rate of interest for a selected interval of two to seven years.
The fastened rate of interest varies primarily based in your chosen assure interval and preliminary funding quantity. Typically, longer assure durations and bigger investments qualify for increased charges. For instance, as of March 2025, charges ranged from round 3.4 p.c to 4.4 p.c. Nevertheless, renewal charges are sometimes decrease.
Key options and who it is best for
Key options and who it is best for
Key options and who it is best for
- Assured progress
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Your cash earns a hard and fast rate of interest for the preliminary assure interval you choose.
- Potential lifetime earnings
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You’ll be able to select to annuitize your contract for an earnings stream that may final your whole life.
- Versatile choices
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Accessible for various retirement accounts (conventional, Roth, SEP IRAs) and non-qualified funds. You can even make further funds at renewal.
- Withdrawal choices
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You’ll be able to entry 10 p.c of your funds penalty-free annually after the contract’s been in pressure for at the least 30 days. You could preserve a $5,000 stability after a withdrawal.
- Dying profit
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In case you move away earlier than receiving annuity funds, your beneficiary will usually obtain the contract’s present worth because the demise profit. In case you die after funds start, the profit quantity is determined by the annuity possibility you chose.
- Who it’s finest for
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Folks searching for a low-risk funding to guard in opposition to market volatility and guarantee a predictable earnings stream in retirement.
RetireEase
MassMutual RetireEase is a single premium fast earnings annuity (SPIA). It affords safety from market fluctuations and versatile payout choices primarily based in your life expectancy or a set interval.
Key options and who it is best for
Key options and who it is best for
Key options and who it is best for
- Versatile payouts
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Earnings might be assured for all times, a selected interval or each.
- Possession choices
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Will be owned individually, collectively (between two people) or by a belief.
- Buy limits
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Minimal funding of $10,000 with a most of $1.5 million.
- Withdrawal provisions
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Withdrawals are solely permitted for annuities with a interval sure. No withdrawals through the first 12 months. Minimal withdrawal of $5,000. A give up cost and sure restrictions could apply.
- Charges
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Rates of interest rely on components like age, gender and the dimensions of the preliminary funding. In March 2025, charges for single-life annuities vary from 6.1 p.c to eight.9 p.c for males and 5.9 p.c to eight.6 p.c for ladies.
- Cost frequency
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Choices embody month-to-month, quarterly, semi-annual or annual payouts.
- Who it’s finest for
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Whereas this annuity affords some liquidity, different merchandise could also be higher suited to these needing extra versatile entry to their cash.
RetireEase Alternative
RetireEase Alternative is a hard and fast deferred earnings annuity. This pension-like annuity allows you to buy earnings steadily or with a lump sum, with payouts starting at a future date of your selection.
Key options and who it is best for
Key options and who it is best for
Key options and who it is best for
- Contract sorts
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Accessible as certified (IRA, Roth IRA, SEP IRA) or nonqualified annuities.
- Possession choices
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Will be owned individually, collectively or by a belief.
- Buy flexibility
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Begin with a $10,000 minimal and add funds over time (minimal $500 per cost), as much as $1.5 million.
- No market threat
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Funds should not affected by market fluctuations, and there are not any charges, in response to MassMutual’s web site.
- Who it’s finest for
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It’s splendid when you’re looking for long-term earnings and principal safety however requires cautious consideration because of its lack of liquidity.
Envision with MassMutual RetirePay
Envision is a versatile premium deferred variable annuity designed to assist contract holders accumulate retirement financial savings with potential funding appreciation. The RetirePay profit affords earnings ensures no matter market situations.
Key options and who it is best for
Key options and who it is best for
Key options and who it is best for
- Funding selections
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Affords a variety of underlying funding choices together with inventory, bond and specialty funds.
- RetirePay rider
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RetirePay is an non-compulsory rider for an additional price that ensures a lifetime earnings stream no matter market situations. Nevertheless, it has limitations on investments and extra withdrawals can affect the assure.
- Withdrawals
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Consists of free withdrawal choices (as much as 10 p.c per 12 months), with riders for long-term care and terminal sickness that waive prices below sure situations.
- Dying profit
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Your beneficiary receives at the least the higher of your contract worth or complete buy funds made, adjusted for withdrawals.
- Charges
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Like most variable annuities, this product carries a number of annual charges, together with: a 1.15 p.c M&E threat cost, a 0.15 p.c administrative price, expense ratios for underlying funding funds and a $40 contract upkeep cost for contracts with lower than $100,000.
- Who it’s finest for
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Whereas Envision affords extra progress potential than MassMutual’s different choices, variable annuities contain market threat, together with the potential lack of your principal. It additionally comes with increased charges, so proceed with warning.
What’s MassMutual?
MassMutual is a extremely regarded insurance coverage firm based in 1851. It affords a variety of economic merchandise, together with life insurance coverage, incapacity insurance coverage, long-term care insurance coverage and annuities.
Identified for its monetary energy, MassMutual has maintained a stable popularity for over 170 years. As a mutual firm, its focus is on serving the pursuits of policyowners.
MassMutual has constantly acquired excessive rankings from unbiased score businesses for its claims-paying skill and monetary safety, together with a score of A++ by AM Greatest. That’s essential, as a result of any annuity’s promise of assured earnings is barely as sturdy because the insurance coverage firm backing it.
MassMutual professionals and cons
Right here’s the place MassMutual shines and a few drawbacks to think about.
Execs
- Respected and financially sturdy firm: MassMutual is taken into account top-of-the-line life insurance coverage corporations within the business, with an extended historical past and constantly excessive rankings from credit standing businesses.
- Numerous vary of merchandise: They provide quite a lot of annuity sorts (fastened, fast, deferred and variable) to cater to completely different threat tolerances and retirement earnings wants.
- Withdrawal and account kind flexibility in some merchandise: A number of annuities supply options like free annual withdrawals (as much as 10 p.c) and choices for various account sorts (certified and non-qualified).
- Dying profit safety: Most annuities from MassMutual supply at the least a minimal demise profit.
Cons
- Give up prices: Most deferred annuities have give up cost durations, although admittedly that is commonplace fare for many annuities, whatever the insurer. Regardless, give up prices could make accessing your cash forward of schedule troublesome and expensive.
- Restricted liquidity in some merchandise: Quick annuities and a few fastened annuities have restricted or no withdrawal choices.
- Variable annuity charges: The Envision variable annuity exposes your funding to market threat, and it comes with increased charges in comparison with fastened annuities, which can also be an business commonplace.
Backside line
MassMutual affords a stable collection of annuities backed by a financially sound and respected firm. In the end, one of the best MassMutual annuity for you is determined by your threat tolerance, monetary targets, time horizon and wish for entry to your money. Rigorously take into account the options, charges and limitations of every product and seek the advice of with a monetary advisor to find out the most suitable choice in your retirement plan.
