SecureGain 3 – 2025
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.75% |
Issue Ages
0-90 (qualified);
0-90 (non-qualified);
0-75 (inherited IRA);
0-75 (inherited non-qualified)
For joint owners, the older age will be used as the issue age.
Purchase Payment
Minimum: Initial purchase payment: $25,000;
Maximum: $1 million for ages 0-85; $500,000 for ages 86+
Additional purchase payments of $2,000 or more may be made in the first 60 days of the contract. Additional purchase payments have their own interest crediting terms.
Renewals
At the end of each term, clients may have the option to begin a new three-year renewal term if available. A market value adjustment (MVA) and early withdrawal charge will apply during any renewal term.
Market Value Adjustment (MVA)
During each initial term or renewal term, an 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 the change in a market interest rate index since the start of the term.
Early Withdrawal Charge
During each initial term or renewal term, an early withdrawal charge is applied to surrenders and withdrawals that exceed the free withdrawal allowance.
Free Withdrawal Allowance
Before the first contract anniversary, up to 10% of all purchase payments may be withdrawn without incurring an MVA or early withdrawal charge.
After the first contract anniversary, up to 10% of the account value as of the most recent contract anniversary may be withdrawn without incurring an MVA or early withdrawal charge.
Death Benefit
The death benefit amount is based on the greater of the account value or the GMSV. A death benefit is payable if the owner dies before annuitization or surrender. A spouse who is the surviving joint owner or sole surviving beneficiary may become the successor owner.
Payout Options
The following payout options are available: fixed period income, life income, life income with payments for at least a fixed period, and joint and one-half survivor income. The greater of the account value or the GMSV will be used to provide income benefit payments.
For more information about submitting New Business applications, please contact the MassMutual Ascend sales desk directly at 1-888-504-7109 option 2
*Please note, product availability is subject to firm and state approval
Riders
No Riders for SecureGain 3 – 2025 annuity.
Waivers
Terminal Illness
Unavailable in states: MA
If the owner is diagnosed with a terminal illness, then after the first contract year up to 100% of the account value may be withdrawn without incurring an early withdrawal charge or MVA. The first diagnosis of terminal illness must be after the contract effective date. A terminal illness is defined as an illness having a prognosis of survival of 12 months or less, or any longer period as required by state law. 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 rider is available for no additional charge. If the owner is confined to a nursing home or long-term care facility, then after the first contract year up to 100% of the account value may be withdrawn without incurring an early withdrawal charge or MVA. The confinement must have begun after the contract effective date and must continue for at least 90 consecutive days after the later of the first contract anniversary or the first date of confinement.
- A.M. Best A++
- S&P AA
- Moody's Aa3
- Comdex 94
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