Safe Return
The Safe Return annuity offers an excellent blend of growth opportunities with considerable protection from loss. This annuity presents retirees a unique chance to diversify their retirement income while ensuring they don't lose their initial contribution. The return of premium guarantee stands as a reassuring feature, providing extra flexibility during unexpected events.
The product stands out for its lifetime guaranteed income, which you can start to receive at a time of your choosing. With multiple interest strategies to aid your savings growth and an efficient tax treatment that accelerates your money's growth, the Safe Return annuity is a valuable addition to your retirement planning toolbox.
Safe Return
About Product
For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.75%
Fixed
|
| 1-Year iShares US Real Estate PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.25%
Cap
|
| 1-Year S&P 500 Average DRC 10% PR PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 1-Year First Trust Barclays Edge PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| IncomeSecure Rider | No | 1.00% annually |
| Inheritance Enhancer (Age 50-75) | No | 1.15% annually |
| Inheritance Enhancer (Age 76-85) | No | 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the diagnosis is rendered more than one year after the contract effective date, up to 100% of the account value can be withdrawn without deduction of an early withdrawal charge if the owner or joint owner is diagnosed by a physician as having a terminal illness with a life expectancy of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.
Premium Notes
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.
Purchase Payment
You can purchase this annuity with an initial purchase payment of $25,000 or more. You can add to your annuity during the first two contract months with additional purchase payments of at least $2,000 for qualified contracts or $5,000 for non-qualified contracts.
MassMutual Ascend only allows additional premiums to be added as a Lump Sum, Periodic Payments are not allowed.
Terms begin on the 6th and the 20th of each month. Purchase Payments received before the beginning of a term are placed in a holding account (called the Purchase Payment Account) where it will be credited interest daily until it is placed in the selected strategy.
Maximum:
$1 million issue ages 0-75
$750,000 issue ages 76-80
$500,000 issue ages 81+ without prior Home Office approval
Withdrawal Provisions
Systematic Withdrawal The Customized Payment, Life Payment and Fixed Dollar options are available. Refer to the Terms and Conditions section of the applicable ESP Program Election Agreement Form for eligibility requirements. ESP payments reduce the amount available under the free withdrawal allowance. This feature is non-contractual, available according to current Company practice and may be discontinued at any time.Note: The Indexed Interest is credited only at the end of a term, amounts withdrawn before the end of a term will not earn any Indexed Interest. Death Benefit The greater of the Account Value or GMSV will be paid upon the death of the owner. A spouse who is the surviving joint owner or sole surviving beneficiary may become the successor owner. Annuitization The following options are available following the first contract year: income for a fixed period, single life annuity and joint and one-half survivor. The amount used to provide annuity benefit payments will be equal to the greater of the account value (reduced by any rider fees and charges and by premium tax or other taxes not previously deducted) and the GMSV. In either case, the amount payable will be reduced by the outstanding balance of any loans. Free Withdrawals 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. Free withdrawal allowance is not cumulative, and unused amounts do not carry over to the next contract year. Please note, indexed interest is credited only at the end of a term; amounts withdrawn before the end of a term will not earn any indexed interest. Minimum Distributions If your annuity is a tax-qualified contract, it must comply with the required minimum distribution rules set out in the tax qualification endorsement. Those rules generally require certain distributions to be made beginning at age 72 ½. If your illustration does not reflect these distributions, then they will reduce the contract values shown unless the required minimum distribution is satisfied from another source. In the case of an Inherited IRA, certain minimum distributions are required each year. If your illustration does not reflect these distributions, they will reduce the contract values shown. Loan Provision A loan endorsement is available for 403(b) contracts. Loans are subject to terms of the Loan Application and Agreement (TSAL2798). Minimum loan amount: $1,000Minimum surrender value balance that must remain following a loan: $500 plus collateral interest on all outstanding loans on the contract.
- A.M. Best A++
- S&P A+
- Moody's Aa3
- Comdex 94
