Fixed index annuity review and rates

American Legend 7 Plus

American Legend 7 Plus is a fixed-indexed annuity that 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: AL, AZ, AR, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, RI, SC, SD, TN, TX, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.4% Fixed
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
10.5% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
8.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
10.75% Cap
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate
Point to Point
Annual
80% Participation
1-Year Fixed Account
Fixed
4.5% Fixed
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate
Point to Point
Annual
85% Participation
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
11% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
9% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
11% Cap

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 7% 6% 5% 4% 3%

Riders

Name Inbuilt Fee
IncomeSecure No 0.95% annually
Inheritance Enhancer (Age 50-75) No 1.15% annually
Inheritance Enhancer (Age 76-85) No 1.15% annually
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, Inherited IRA, and NQ Stretch