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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

ECAccumulate

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Highlights

Premium Type
Single Premium
Max age Qualified
85
Minimum Contribution
$25,000
Maximum Contribution
$1,000,000
Market value adjustment
Return of premium
Free withdrawal
5%
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and 1035 Exchange
Brochure
Open brochure
ECAccumulate Fixed Annuity is a deferred annuity contract issued by The Savings Bank Mutual Life Insurance Company of Massachusetts and is designed to be a long-term tax deferred program for producing retirement income.
The ECAccumulate Fixed Annuity offers competitive initial interest rates that are guaranteed for five years.

Market Value Adjustment (MVA)
An MVA is an adjustment to withdrawals or surrenders that are made prior to the end of the initial interest rate guarantee period.

Death Benefit
Upon death of the Owner, the accumulated value is paid to the beneficiary unless the Owner specified a non-lump sum payment.

Free Withdrawal Provision
From the first contract year, the Owner can partially surrender up to 5% of the accumulated value each contract year without incurring any surrender charges or MVA. If the total partial surrenders in any contract year exceed the free amount, surrender charges and MVA will apply to the excess amount surrendered in that contract year. Surrenders may be subject to Federal/State income tax and, if taken prior to age 59 ½, an additional 10% Federal penalty tax. Please consult your tax advisor.

Annuitization
The Owner may choose a lifetime of income or another payout option currently available. Contracts annuitized within the first three contract years may be subject to MVA and surrender charges. 

Find out if the ECAccumulate is the right product for you.

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
5 years 4.5%

Riders

No Riders for ECAccumulate annuity.

Waivers

Nursing Home

You may surrender all or withdraw a portion of your accumulated value without any surrender charges or MVA if you are confined in a nursing facility for 30 consecutive days.

Terminal Illness

You may surrender all or withdraw a portion of your accumulated value without any surrender charges or MVA if you have been diagnosed as having a terminal condition with not more than 12 months to live.

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