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10-Year
5.80%

American Freedom Liberty 7 MVA

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Highlights

American Freedom Liberty 7 is a fixed-indexed annuity, offers a bailout feature on 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. 

For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
Available in states: AL, AK, AZ, AR, CA, CO, CT, 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
Type
Fixed Index
Purpose Lifetime Income & Legacy
Term
7 Years
Surrender schedule
9%8%7%6%5%4%3%
Free withdrawal
10%
Market value adjustment
Return of premium
Launch date
06/15/2020
Minimum contribution
$25,000
Maximum contribution
$1,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, Inherited IRA, and NQ Stretch
Brochure
Open brochure

Find out if the American Freedom Liberty 7 MVA is the right product for you.

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Premium Notes

Purchase payments
This product accepts a single purchase payment for non-qualified, traditional 403(b), Roth 403(b), traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Inherited IRA, Inherited non-qualified, and 457 plan funds. Additional purchase payments are allowed during the first contract year. Terms begin only on the 6th and 20th of each month. Purchase payments received prior to the beginning of a term will be held in the purchase payment account until the beginning of the next term. Additional purchase payments have their own interest crediting terms.

Minimum: Initial purchase payment: $25,000; You can add to your annuity during the first 10 contract years with additional purchase payments of at least $2,000.
Maximum: $1 million
Maximums apply to the total purchase payments made to all annuities from the companies with the same owners or the same annuitants.
MassMutual Ascend only allows additional premiums to be added as a Lump Sum, Periodic Payments are not allowed.

Issue ages
0-85 (qualified);
0-85 (non-qualified);
0-75 (inherited IRA);
0-75 (inherited non-qualified)
Issue age is the owner’s age at last birthday. For joint owners, the oldest age will be used as the issue age. If the owner is a non-natural person, the age of the eldest annuitant will be treated as the age of the owner for all purposes under this contract.

Withdrawal Provisions

Free withdrawal allowance
During the first contract year, 10% of the purchase payments may be withdrawn without an early withdrawal charge or MVA. After the first contract year, 10% of the account value on the most recent contract anniversary may be withdrawn without an early withdrawal charge or MVA. The sum of all previous withdrawals during the same contract year will be subtracted to determine the amount available. This free withdrawal allowance is not cumulative, and unused amounts do not carry over to the next contract year.

Withdrawals
Withdrawals are allowed any time prior to the annuity payout initiation date. All withdrawals are subject to IRS regulations, early withdrawal charges, and MVAs. Withdrawals will be taken first from amounts applied to the purchase payment account, then from the interest strategy with the shortest term. If there are multiple interest strategies that meet that criterion, withdrawals will be taken proportionally from all interest strategies with the shortest term. Amounts withdrawn from an interest strategy prior to the end of a term will not be credited with an interest.
Minimum withdrawal: $500; Minimum account value following withdrawal: $5,000. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.85% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
10.35% Cap
1-Year iShares U.S. Real Estate PTP Cap
Point to Point
Annual
11.5% Cap
1-Year S&P 500 PTP Cap (7-Year Lock)
Point to Point
Annual
9.75% Cap
1-Year Fixed Account
Fixed
5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
10.85% Cap
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
10.25% Cap
1-Year iShares MSCI EAFE PTP Cap
Point to Point
Annual
9.75% Cap
1-Year First Trust Barclays Edge PTP Cap (7-Year Lock)
Point to Point
Annual
14.5% Cap
1-Year First Trust Barclays Edge PTP Cap
Point to Point
Annual
14.75% Cap
1-Year iShares MSCI EAFE PTP Cap
Point to Point
Annual
10.25% Cap
1-Year First Trust Barclays Edge PTP Cap (7-Year Lock)
Point to Point
Annual
15% Cap
1-Year First Trust Barclays Edge PTP Cap
Point to Point
Annual
15.25% Cap

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 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

Waivers

Bail-Out

American Freedom Liberty 5 features a bailout on the indexed strategies. This feature allows the client to withdraw money without penalty from an indexed strategy if the cap for the indexed strategy ever falls below its bailout rate. The bailout rate will always be below the initial cap. If the bailout feature is triggered, we will send a letter and give the client 30 days to withdraw money from that strategy with no early withdrawal charge or MVA.

Terminal Illness

Unavailable in states: MA

Provided that the diagnosis is rendered more than one year after the contract effective date, up to 100% of the account value can be withdrawn without deduction of an early withdrawal charge or MVA if the owner or joint owner is diagnosed by a physician as having a terminal illness with a life expectancy of 12 months or less. This waiver may be used only once.

Extended Care

Unavailable in states: MA

To help ease the strain of certain unforeseen events, an extended care waiver is available for no additional charge. If the owner is confined to a nursing home or other long-term care facility after the completion of the first contract year for at least 90 consecutive days, early withdrawal charges and MVAs may be waived on withdrawals up to a full surrender. The nursing home waiver does not include home health care.

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