Fixed annuity review and rates


ECAccumulate Fixed Annuity is a deferred annuity contract issued by The Savings Bank Mutual Life Insurance Company of Massachusetts and is designed to be a long-term tax deferred program for producing retirement income.
The ECAccumulate Fixed Annuity offers competitive initial interest rates that are guaranteed for five years.

Market Value Adjustment (MVA)
An MVA is an adjustment to withdrawals or surrenders that are made prior to the end of the initial interest rate guarantee period.

Death Benefit
Upon death of the Owner, the accumulated value is paid to the beneficiary unless the Owner specified a non-lump sum payment.

Free Withdrawal Provision
From the first contract year, the Owner can partially surrender up to 5% of the accumulated value each contract year without incurring any surrender charges or MVA. If the total partial surrenders in any contract year exceed the free amount, surrender charges and MVA will apply to the excess amount surrendered in that contract year. Surrenders may be subject to Federal/State income tax and, if taken prior to age 59 ½, an additional 10% Federal penalty tax. Please consult your tax advisor.

The Owner may choose a lifetime of income or another payout option currently available. Contracts annuitized within the first three contract years may be subject to MVA and surrender charges. 

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
The Savings Bank Mutual Life Insurance Company of Massachusetts
Founded: 1907
A.M. Best: A
S&P: A
Carrier details
Free withdrawal
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and 1035 Exchange