Premier Income Bonus
Highlights
- 6% rider bonus, 6% roll-up rate, and 10-year rollup period (1.15% annual rider charge)
- Guaranteed retirement income
- The competitive earning potential with multiple interest crediting strategies
- Flexibility to contribute additional purchase payments during the first two contract months
- Access to your money with 10% penalty-free withdrawals
- Early withdrawal charges and market value adjustments that end after seven years
- Liquidity with extended care and terminal illness waiver riders
For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
7 Years |
|
Surrender schedule
|
6%5%4%3%3%3%3% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
08/13/2018 |
|
Minimum contribution
|
$10,000 |
|
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, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the Premier Income Bonus 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 two contract months 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.
Withdrawal Provisions
During the first contract year, 10% of the purchase payments may be withdrawn without an early withdrawal charge. After the first contract year, 10% of the account value on the most recent contract anniversary may be withdrawn without an early withdrawal charge. 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 are allowed any time prior to the annuity commencement date. All withdrawals are subject to IRS regulations and early withdrawal charges. 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 interest. Minimum withdrawal: $500; Minimum account value following withdrawal: $5,000.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
5.25%
Fixed
|
| 1-Year S&P 500 DRC 10% TR PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year S&P U.S. Retiree Spending TR PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
13.5%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
12.5%
Cap
|
| 1-Year Fixed Account |
Fixed
|
5.35%
Fixed
|
| 1-Year S&P U.S. Retiree Spending TR PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
| 1-Year S&P 500 DRC 10% TR PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
| 1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
14%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
13%
Cap
|
| 1-Year First Trust Barclays Edge PTP Cap |
Point to Point
Annual
|
14.5%
Cap
|
| 1-Year First Trust Barclays Edge PTP Cap (7-Year Lock) |
Point to Point
Annual
|
14.25%
Cap
|
| 1-Year First Trust Barclays Edge PTP Cap |
Point to Point
Annual
|
15%
Cap
|
| 1-Year First Trust Barclays Edge PTP Cap (7-Year Lock) |
Point to Point
Annual
|
14.75%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 6% | 5% | 4% | 3% | 3% | 3% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Premier Income Bonus GLWB | Yes | 1.15% annually |
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 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 may be waived on withdrawals up to a full surrender. The nursing home waiver does not include home health care.
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