Company Description
"MassMutual RetireEase is a single premium immediate annuity (also known as an income annuity). The contract provides a reliable and predictable stream of income for as long as you live, or for a period of time you elect."Product
MassMutual RetireEase Single Premium Immediate Annuity
States Available
Not Available
Minimum Premium
$10,000
Max Premium (without home office approval)
$10,000,000
Issue Ages
18 to 90
Available Benefit Modes
Annually, Semi-Annually, Quarterly, Monthly
Life & Periods Certain Available
Yes
Periods Certain Only Available
Yes; 5, to 50 years
Joint & Survivor Available
Yes
Cash Refund Available
Yes, death benefit equals premium less sum of benefits received
Inflation Indexing Available
No
Cost of Living Adjustments Available
Yes; 1%, 2%, 3%, and 4%
Pricing: Male, 65, Life & 10 Years Certain, No COLA, $100,000 Premium
$655 monthly benefit
Commission
Cash Value
Other Features
Cash withdrawals (surrenders) - Available on contracts with income payment options that include a period certain.
Period certain-only: One full or partial withdrawal allowed per year after the first contract year. A partial withdrawal reduces future period certain payment amounts.
Life with period certain: One partial withdrawal allowed per year after the first contract year. The withdrawal reduces future period certain payment amounts, but does not alter the life payments.
Minimum withdrawal - $5,000 (Partial withdrawals are limited so that each remaining guaranteed payment is at least $100.)
Maximum withdrawal - Present value of all remaining period certain payments, less any surrender charges.
Surrender charges – 8% in year 2, grading to 0% in year 10