Fixed index annuity review and rates

AssuranceSelect 7 Plus

AssuranceSelect 7 Plus is a fixed-indexed annuity, offers multiple indexed strategies, accepts additional purchase payments during the first 10 contract years, and features early withdrawal charges and market value adjustments that end after seven years.

First-year early withdrawal charge percentages vary by institution. For detailed product information, log into your account at GAAFI.com or call 888-504-7109, option 2.
Available in states: AL, AK, AZ, AR, CA, 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, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.7% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
10.5% Cap
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate
Point to Point
Annual
80% Participation
1-Year SPDR Gold PTP Cap
Point to Point
Annual
12.5% Cap
1-Year S&P U.S. Retiree Spending PTP Participation Rate
Point to Point
Annual
80% Participation
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
12% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
8.25% Cap
1-Year Fixed Account
Fixed
4.8% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
11% Cap
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate
Point to Point
Annual
85% Participation
1-Year SPDR Gold PTP Cap
Point to Point
Annual
13% Cap
1-Year S&P U.S. Retiree Spending TR PTP Participation Rate
Point to Point
Annual
85% Participation
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
12.5% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
8.5% Cap

Surrender schedule

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

Riders

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