MassMutual launches new deferred income annuity

MassMutual RetireEase Choice guarantees a specific amount of future income at the time a purchase payment is made.

By Noah Guillaume | October 01, 2012 at 12:20 PM

Massachusetts Mutual Life Insurance Company launched MassMutual RetireEase Choice, a premium deferred income annuity.

MassMutual RetireEase Choice guarantees a specific amount of future income at the time a purchase payment is made. MassMutual can make the guarantee because assets within the contract are dedicated to meeting long-term retirement income needs. For that reason, it provides no contract value or withdrawal provisions. Any distributions made from the contract are in the form of annuity payments or a death benefit.

Without the impact of withdrawals, the annuity can guarantee a higher income amount at the time purchase payment(s) are made than traditional deferred annuities can guarantee. Payouts can start as soon as 13 full months after the contract issue date.

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RetireEase Choice includes purchase and payout options, annuity date adjustment feature, return of purchase payment(s), annuity payment acceleration, and protection against inflation.

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