The Massachusetts Mutual Life Insurance coverage Firm, higher referred to as MassMutual, is a well-established and respected establishment that provides a spread of annuities designed to fulfill completely different retirement planning wants.
This evaluation dives into the completely different annuity choices obtainable from MassMutual, together with key options and who the annuity is greatest fitted to.
Right here’s every little thing that you must know.
What annuities does MassMutual provide?
MassMutual gives a complete suite of annuity merchandise, from fastened annuities to variable annuities. Every product is designed to cater to completely different retirement revenue wants.
Here’s a detailed take a look at their particular annuity choices.
Secure Voyage
Secure Voyage is a single premium deferred fastened annuity. It presents a set rate of interest locked in for 3, 4 or 5 years, with choices for renewal.
Charges depend upon the scale of your preliminary funding in addition to the speed interval you choose. For instance, in March 2025, the assured charge is 4.3 % however the one-year renewal charge drops to 2.25 %. For investments lower than $100,000, the speed is 4.05 % and presents the identical one-year renewal charge of two.25 %.
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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Fastened for the chosen time period with renewal choices.
- Free withdrawals
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As much as 10 % yearly with out give up fees.
- Give up fees
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Give up charge fees decline over time and could also be waived for qualifying nursing residence stays or terminal sickness.
- Payout choices
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Lifetime revenue or fixed-period sure choices obtainable beginning as early as 12 months six of the annuity contract.
- Advertisement - - Who it’s greatest for
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Individuals looking for a set charge of return and versatile revenue choices in retirement.
Premier Voyage
Premier Voyage is a deferred fastened annuity that provides a strategy to develop your financial savings with a set rate of interest for a selected interval of two to seven years.
The fastened rate of interest varies based mostly in your chosen assure interval and preliminary funding quantity. Usually, longer assure durations and bigger investments qualify for greater charges. For instance, as of March 2025, charges ranged from round 3.4 % to 4.4 %. Nonetheless, renewal charges are usually decrease.
Key options and who it is best for
- Assured progress
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Your cash earns a set rate of interest for the preliminary assure interval you choose.
- Potential lifetime revenue
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You possibly can select to annuitize your contract for an revenue 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 too make further funds at renewal.
- Withdrawal choices
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You possibly can entry 10 % of your funds penalty-free annually after the contract’s been in power for no less than 30 days. It’s essential to keep a $5,000 stability after a withdrawal.
- Demise profit
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In the event you cross away earlier than receiving annuity funds, your beneficiary will typically obtain the contract’s present worth because the demise profit. In the event you die after funds start, the profit quantity relies on the annuity possibility you chose.
- Who it’s greatest for
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Individuals in search of a low-risk funding to guard towards market volatility and guarantee a predictable revenue stream in retirement.
RetireEase
MassMutual RetireEase is a single premium speedy revenue annuity (SPIA). It presents safety from market fluctuations and versatile payout choices based mostly in your life expectancy or a set interval.
Key options and who it is best for
- Versatile payouts
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Revenue may be assured for all times, a particular interval or each.
- Possession choices
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Might 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 depend upon components like age, gender and the scale of the preliminary funding. In March 2025, charges for single-life annuities vary from 6.1 % to eight.9 % for males and 5.9 % to eight.6 % for girls.
- Cost frequency
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Choices embody month-to-month, quarterly, semi-annual or annual payouts.
- Who it’s greatest for
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Whereas this annuity presents some liquidity, different merchandise could also be higher fitted to these needing extra versatile entry to their cash.
RetireEase Selection
RetireEase Selection is a set deferred revenue annuity. This pension-like annuity allows you to buy revenue steadily or with a lump sum, with payouts starting at a future date of your alternative.
Key options and who it is best for
- Contract varieties
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Accessible as certified (IRA, Roth IRA, SEP IRA) or nonqualified annuities.
- Possession choices
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Might 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 fee), as much as $1.5 million.
- No market threat
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Funds will not be affected by market fluctuations, and there are not any charges, in line with MassMutual’s web site.
- Who it’s greatest for
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It’s ideally suited when you’re looking for long-term revenue and principal safety however requires cautious consideration as a result 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 presents revenue ensures no matter market circumstances.
Key options and who it is best for
- Funding selections
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Affords a spread of underlying funding choices together with inventory, bond and specialty funds.
- RetirePay rider
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RetirePay is an non-obligatory rider for an additional price that ensures a lifetime revenue stream no matter market circumstances. Nonetheless, it has limitations on investments and extra withdrawals can influence the assure.
- Withdrawals
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Contains free withdrawal choices (as much as 10 % per 12 months), with riders for long-term care and terminal sickness that waive fees beneath sure circumstances.
- Demise profit
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Your beneficiary receives no less than the larger 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 % M&E threat cost, a 0.15 % administrative price, expense ratios for underlying funding funds and a $40 contract upkeep cost for contracts with lower than $100,000.
- Who it’s greatest for
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Whereas Envision presents 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 greater charges, so proceed with warning.
What’s MassMutual?
MassMutual is a extremely regarded insurance coverage firm based in 1851. It presents a spread of monetary merchandise, together with life insurance coverage, incapacity insurance coverage, long-term care insurance coverage and annuities.
Recognized for its monetary energy, MassMutual has maintained a strong fame for over 170 years. As a mutual firm, its focus is on serving the pursuits of policyowners.
MassMutual has persistently acquired excessive rankings from impartial score companies for its claims-paying means and monetary safety, together with a score of A++ by AM Finest. That’s vital, as a result of any annuity’s promise of assured revenue is simply 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 among the best life insurance coverage firms within the trade, with an extended historical past and persistently excessive rankings from credit standing companies.
- Various vary of merchandise: They provide a wide range of annuity varieties (fastened, speedy, deferred and variable) to cater to completely different threat tolerances and retirement revenue wants.
- Withdrawal and account sort flexibility in some merchandise: A number of annuities provide options like free annual withdrawals (as much as 10 %) and choices for various account varieties (certified and non-qualified).
- Demise profit safety: Most annuities from MassMutual provide no less than a minimal demise profit.
Cons
- Give up fees: Most deferred annuities have give up cost durations, although admittedly that is normal fare for many annuities, whatever the insurer. Regardless, give up fees could make accessing your cash forward of schedule tough and expensive.
- Restricted liquidity in some merchandise: Speedy 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 greater charges in comparison with fastened annuities, which can also be an trade normal.
Backside line
MassMutual presents a strong collection of annuities backed by a financially sound and respected firm. Finally, the perfect MassMutual annuity for you relies on your threat tolerance, monetary objectives, time horizon and want for entry to your money. Fastidiously contemplate 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.
