Advantage 5 Advisory
Get an annuity today!
Learn how an annuity can provide guaranteed income for life.
Key Takeaways
- The Advantage 5 Advisory Annuity provides guaranteed interest rates over a five-year term and protection against loss
- Annuity includes penalty-free withdrawals; 10% of the purchase payment in the first year and up to 10% of the account value in subsequent years
- MVA applies to withdrawals or surrenders during the first five-year term and renewal term
- It offers guaranteed lifetime income with multiple payout options
- The Advantage 5 Advisory Annuity from MassMutual Ascend aims to be easy to understand and transparent suited for long-term investment
Pros and Cons of Advantage 5 Advisory
Pros
- Minimized risk due to guaranteed interest rate
- Offers penalty-free withdrawals each year
- Annuity aims for predictability and complete protection from loss
- Guaranteed lifetime income options available
Cons
- Market Value Adjustment may decrease value if market interest rates rise
- Withdrawals exceeding the penalty-free allotment face early withdrawal charges and MVA
- Not suited for short-term investment
- High minimum purchase value required ($50,000)
The Advantage 5Advisory is intended to be a long-term product. However, you will have access to a portion of your money each year with penalty-free withdrawals. During the first contract year, you may withdraw up to 10% of your purchase payment. After the first contract year, 10% of the account value on the most recent contract anniversary may be withdrawn. It’s important to note withdrawals in excess of this amount may be subject to early withdrawal charges and a market value adjustment.
For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
Issue ages
0-89 (qualified); 0-89 (non-qualified): 0-75 (inherited IRA); 0-75 (inherited non-qualified)
Issue age is defined as owner’s current age upon contract effective date. For joint owners, the older age will be used as the issue age.
Purchase payment
This product accepts a single purchase payment for non-qualified, 403(b) (Traditional and Roth), Traditional IRA, Roth IRA, IRA Rollover, IRA Transfer, SEP IRA, SIMPLE IRA, Inherited IRA, inherited non-qualified and 457 plan funds.
For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
Issue ages
0-89 (qualified); 0-89 (non-qualified): 0-75 (inherited IRA); 0-75 (inherited non-qualified)
Issue age is defined as owner’s current age upon contract effective date. For joint owners, the older age will be used as the issue age.
Purchase payment
This product accepts a single purchase payment for non-qualified, 403(b) (Traditional and Roth), Traditional IRA, Roth IRA, IRA Rollover, IRA Transfer, SEP IRA, SIMPLE IRA, Inherited IRA, inherited non-qualified and 457 plan funds.
- Minimum: $50,000
- Maximum: $2 million for ages 0-75, $1.5 million for ages 76-80, $1 million for ages 80+ without prior Home Office approval
Maximums apply to the total purchase payments made to all annuities from the companies of Great American Life Insurance Company with the same owners or the same annuitants.
Market Value Adjustment (MVA)
A market value adjustment will apply to withdrawals or surrenders during the initial five-year term and any renewal term.
Penalty-free withdrawals
The following amounts may be withdrawn without deduction of an MVA or early withdrawal charge:
Market Value Adjustment (MVA)
A market value adjustment will apply to withdrawals or surrenders during the initial five-year term and any renewal term.
Penalty-free withdrawals
The following amounts may be withdrawn without deduction of an MVA or early withdrawal charge:
- First contract year: up to 10% of the purchase payment
- Subsequent contract years: up to 10% of the account value as of the most recent contract anniversary
Income Payout Options
Fixed period: You receive payments for a fixed period of time that you select.
Life or life with a minimum fixed period: You receive payments for life. If you select a minimum fixed period of time and pass away before the end of the period, the remaining payments are paid to the person you designate.
Joint and one-half survivor: Payments are guaranteed for your life and the life of a designated joint annuitant. If you are survived by the joint annuitant, he or she will receive 50% of the payment for life.
Fixed period: You receive payments for a fixed period of time that you select.
Life or life with a minimum fixed period: You receive payments for life. If you select a minimum fixed period of time and pass away before the end of the period, the remaining payments are paid to the person you designate.
Joint and one-half survivor: Payments are guaranteed for your life and the life of a designated joint annuitant. If you are survived by the joint annuitant, he or she will receive 50% of the payment for life.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 5.5% |