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Best Guaranteed Annuity Rates
2-Year
5.25%
3-Year
6.25%
5-Year
6.30%
7-Year
5.80%
10-Year
5.80%

American Freedom Elevate 3

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Learn how an annuity can provide guaranteed income for life.

American Freedom Elevate 3 is a fixed annuity which means it earns interest at a fixed rate. Interest is credited daily and compounded annually. American Freedom Elevate 3 fixed annuity offers:
  • Predictable growth 
    To help build your retirement savings, your annuity’s interest rate is guaranteed over a three-year period. No matter how the market performs, the value of your annuity will grow at a steady rate. 
  • Protection from loss
    Regardless of market conditions, you won’t lose the money you contribute to your annuity unless you take a withdrawal or surrender your annuity during its early withdrawal charge period. 
  • Guaranteed income
    When you are ready to turn the money you’ve accumulated in your annuity into guaranteed income, you can select from a variety of options, including payments that will last for the rest of your life. 
Issue Ages
0-90 (qualified); 0-90 (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 Payments
This product accepts a single purchase payment for non-qualified, 403(b) (Traditional and Roth), Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Inherited IRA, Inherited non-qualified, 401(a) and 457 plan funds.
Minimum: $10,000
Maximum: $1 million for ages 0-85; $500,000 for ages 86+ without prior Home Office approval
Maximums apply to the total purchase payments made to all annuities from MassMutual Ascend with the same owners or the same annuitants.

Market Value Adjustment (MVA)
During the initial term and any renewal term, a market value adjustment (or MVA) will apply if the contract is surrendered or a withdrawal above the free withdrawal allowance is taken.
An MVA is an adjustment to the contract values based on how market interest rates have changed since the contract was purchased. If interest rates have gone up, the adjustment will be negative and may decrease contract values. If interest rates have gone down, the adjustment may be positive and may increase contract values. The amount subject to the adjustment is the portion of the account value withdrawn after the 10% free withdrawal allowance. This amount is then multiplied by the MVA factor.
A positive MVA will never be more than the early withdrawal charge that would apply to the withdrawal or surrender. A negative MVA, together with the Early Withdrawal Charge, will never reduce the account value by more than an amount equal to two times that charge. Additionally, a negative MVA will never reduce the Surrender Value to less than the Guaranteed Minimum Surrender Value (GMSV).

Free Withdrawals Allowance
Before the first contract anniversary, up to 10% of the total purchase payment may be withdrawn without incurring an MVA or early withdrawal charge.
After the first contract anniversary, up to 10% of the account value as of the most recent contract anniversary may be withdrawn without incurring an MVA or early withdrawal charge.
Cumulative withdrawals made in any year that exceed this 10% withdrawal allowance are subject to an MVA and early withdrawal charges. Unused portions of the free withdrawal allowance may not be carried over from one contract year to the next.

Renewals
At the end of a multi-year term, if a new term longer than one year is available, clients will have the option to renew their contract for one-year terms or begin a new multiyear term. If clients do not choose an option, the contract will automatically renew for one-year terms. No MVA or early withdrawal charge will apply during one-year terms. The MVA and early withdrawal charge apply during every multi-year renewal term. 

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
3 years 4.85%

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