Fixed annuity review and rates

American Freedom Aspire 5

The American Freedom Aspire 5 is a flexible premium deferred annuity. A fixed annuity offers:
  • Growth with an increasing interest rate
    The American Freedom Aspire 5 offers an increasing interest rate to help build your retirement savings. A base interest rate will be set for each purchase payment you make. Each year during the purchase payment’s five-year term, the interest rate will increase by 0.10%. 
  • Return of premium guarantee
    If the unexpected occurs, you can surrender your American Freedom Aspire 5 without penalty after contract year three. You’ll receive your purchase payments, minus withdrawals and any applicable taxes. 
  • Safety of principal
    Regardless of market conditions, you won’t lose the money you contribute to your annuity unless you take a withdrawal or surrender your contract during its early withdrawal charge period. 
  • Guaranteed retirement income
    When you’re ready to turn the money you’ve accumulated in your annuity into retirement income, you can select from a variety of payout options, including an income stream that will last for the rest of your life. 
Issue ages 
  • Qualified: 0–89 
  • Non-qualified: 0–89 
  • Inherited IRA: 0–75 
  • Inherited non-qualified: 0–75 
Purchase payment
You can purchase this annuity with an initial purchase payment of $2,000 or more. You can add to your annuity at any time with additional purchase payments of at least $2,000. Great American only allows additional premiums to be added as a Lump Sum, Periodic Payments are not allowed.

Penalty-free withdrawals
During the first contract year, you may withdraw up to 10% of your purchase payments. After the first contract year, 10% of the account value on the most recent contract anniversary may be withdrawn. Amounts withdrawn in excess of the penalty-free withdrawal allowance may be subject to early withdrawal charges. 

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
5 5 4.8% 4.8%
5 5 5% 5%
5 5 4.8% 4.8%
5 5 5% 5%
MassMutual Ascend Life Insurance Company
Founded: 1851
A.M. Best: A+
S&P: A+
Moody's: Aa3
Carrier details
Free withdrawal
Types of funds
Non-Qualified, IRA, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and NQ Stretch