AssuranceSelect 5
Highlights
For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
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Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
5 Years |
|
Surrender schedule
|
9%8%7%6%5% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
01/09/2017 |
|
Minimum contribution
|
$10,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
89 |
|
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 AssuranceSelect 5 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 during the first contract year 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.
Minimum: Initial purchase payment: $10,000; additional purchase payments: $2,000
Maximum: $1 million for ages 0-85; $500,000 for ages 86+
Maximums apply to the total purchase payments made to all annuities from the companies of MassMutual Ascend with the same owners or the same annuitants.
Issue ages
Qualified: 0–89
Non-qualified: 0–89
Inherited IRA: 0–75
Inherited non-qualified: 0–75
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.15%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.25%
Cap
|
| 1-Year iShares US Real Estate PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year Fixed Account |
Fixed
|
3.4%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.5%
Cap
|
| 1-Year iShares US Real Estate PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% |
Riders
No Riders for AssuranceSelect 5 annuity.
Waivers
Nursing Home
Available
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the diagnosis is rendered more than one year after the contract effective date, up to 100% of the account value can be withdrawn without deduction of an early withdrawal charge if the owner or joint owner is diagnosed by a physician as having a terminal illness with a prognosis of 12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 may be waived on withdrawals up to a full surrender. The nursing home waiver does not include home health care.
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