American Legend 7 Non-MVA
Highlights
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Type
|
Fixed Index |
---|---|
Purpose | Accumulation |
Term
|
7 Years |
Surrender schedule
|
9%8%7%6%5%4%3% |
Free withdrawal
|
10% |
Flexible premium | Product Life |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
05/21/2018 |
Minimum contribution
|
$10,000 |
Maximum contribution
|
$1,500,000 |
Max Age Qualified
|
85 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the American Legend 7 Non-MVA is the right product for you.
Premium Notes
You can purchase this annuity with an initial purchase payment of $10,000 or more. You can add to your annuity at any time with additional purchase payments of at least $2,000.
MassMutual Ascend only allows additional premiums to be added as a Lump Sum, Periodic Payments are not allowed.
Issue ages
Qualified: 0-85
Non-qualified: 0-85
Inherited IRA: 0-75
Inherited non-qualified: 0-75
Withdrawal Provisions
Free Withdrawals
Loan Provision
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
4.25%
Fixed
|
1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
9.75%
Cap
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.5%
Cap
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.25%
Cap
|
1-Year S&P 500 Average DRC 10% PR PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
1-Year S&P U.S. Retiree Spending TR PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
1-Year SPDR Gold Shares PTP Cap |
Point to Point
Annual
|
10%
Cap
|
1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
8.5%
Cap
|
1-Year Fixed Account |
Fixed
|
4.4%
Fixed
|
1-Year S&P U.S. Retiree Spending TR PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
1-Year SPDR Gold Shares PTP Cap |
Point to Point
Annual
|
10.25%
Cap
|
1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
8.75%
Cap
|
1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
10.25%
Cap
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.75%
Cap
|
1-Year S&P 500 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
|
70%
Participation
|
1-Year First Trust Barclays Edge PTP Cap |
Point to Point
Annual
|
13.25%
Cap
|
1-Year First Trust Barclays Edge PTP Cap (7-Year Lock) |
Point to Point
Annual
|
13%
Cap
|
1-Year First Trust Barclays Edge PTP Cap |
Point to Point
Annual
|
13.5%
Cap
|
1-Year First Trust Barclays Edge PTP Cap (7-Year Lock) |
Point to Point
Annual
|
13.25%
Cap
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
No Riders for American Legend 7 Non-MVA annuity.
Waivers
Terminal Illness
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 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
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 may be waived on withdrawals up to a full surrender. The nursing home waiver does not include home health care.
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