Fixed index annuity review and rates
American Legend 7 Plus Non-MVA
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:
AK, CA, PA, and UT
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.85%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 PTP Cap (7-Year Lock) |
Cap lock-in
Annual
|
6.55%
Cap
|
| 1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
| 1-Year S&P 500 Average DRC 10% PR PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.95%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year S&P 500 PTP Cap (7-Year Lock) |
Cap lock-in
Annual
|
6.8%
Cap
|
| 1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 Average DRC 10% PR PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
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
Brochure
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