Fixed index annuity review and rates

American Legend 7 Non-MVA

American Legend 7 is a fixed-indexed annuity offers multiple indexed strategies, accepts additional purchase payments, and features early withdrawal charges and market value adjustments that end after seven years.
Available in states: AK, PA, and UT

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.25% Fixed
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
9.5% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
10% Cap
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate
Point to Point
Annual
75% Participation
1-Year S&P U.S. Retiree Spending TR PTP Participation Rate
Point to Point
Annual
70% Participation
1-Year SPDR Gold Shares PTP Cap
Point to Point
Annual
10.5% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
7.8% Cap
1-Year Fixed Account
Fixed
4.35% Fixed
1-Year S&P U.S. Retiree Spending TR PTP Participation Rate
Point to Point
Annual
75% Participation
1-Year SPDR Gold Shares PTP Cap
Point to Point
Annual
10.75% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
8.05% Cap
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
10% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
3% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
10.25% Cap
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate
Point to Point
Annual
80% Participation

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 7% 6% 5% 4% 3%
MassMutual Ascend Life Insurance Company
Founded: 1851
A.M. Best: A+
S&P: A+
Moody's: Aa3
Carrier details
Free withdrawal
10%
Surrender schedule
7 years
Return of premium
Market value adjustment
Minimum contribution
$10,000
Types of funds
Non-Qualified, IRA, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and NQ Stretch