MassMutual Annuities Offers Enhanced Guaranteed Minimum Accumulation Benefit Rider
SPRINGFIELD, Mass., June 1 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) announced today the introduction of an enhanced Guaranteed Minimum Accumulation Benefit (GMAB) feature. The enhanced GMAB is available at contract issue with the company's MassMutual Transitions Select(SM) variable annuity and includes the ability for investors to lock in accumulated growth in their contract values. The optional and revocable GMAB rider provides three key benefits for MassMutual Transitions Select contract owners. "Investors have long been looking to protect principal and grow their portfolios," said John Carlson, vice president and chief marketing officer of MassMutual annuity products. "However, investors deserve and are looking for even more protection today. Our enhanced GMAB allows contract owners to protect portfolio growth while also protecting principal. And for investors with longer term investment horizons, our new 20-year GMAB guarantees to at least double their portfolio." If elected at contract issue, the 10-year GMAB allows investors to protect purchase payments made during the first two years of their contract. At the end of the tenth contract year, their contract value will be the greater of their contract value or the GMAB value. The ability to lock-in growth is also available in the 10-year GMAB with a Reset feature for new contract owners and existing Transitions Select contract owners who have already elected the 10-year GMAB. Beginning with their second contract anniversary, contract owners may re-select the 10-year GMAB, thus locking in any accumulated growth (proportionately adjusted for withdrawals and assuming the feature is not terminated) as of the reset date for another ten years. A 20-year GMAB (26-year in NY) is also available to new MassMutual Transitions Select contract owners that guarantees to double the value of purchase payments made during the first two contract years after 20 years (26 in NY and adjusted proportionately for any withdrawals and assuming the feature is not terminated). Unlike the 10-year GMAB, there is no reset feature associated with the 20-year GMAB (26-year GMAB in NY). David Foster, second vice president of MassMutual annuity sales, said the 10-year or the 20-year GMAB feature could add value to an investor's overall portfolio. "There is no second chance at saving for retirement and therefore little, if any, margin for error. Consequently, having the choice to purchase this benefit is a tremendous value for the overall protection it provides to investors in today's volatile market." The guarantees within the 10-year and 20-year GMAB are contingent on the claims paying ability of the issuing company, Massachusetts Mutual Life Insurance Company (MassMutual). As of May 1, 2005 MassMutual's financial strength ratings were among the highest in the industry. MassMutual's ratings were: Standard & Poor's Corp., AAA (Extremely Strong); A.M. Best, A++ (Superior); Moody's Investors Service Inc., Aa1 (Excellent); and Fitch, AAA (Exceptionally Strong). Ratings do not apply to the separate account or the variable investment choices offered under the contract and are subject to change. The 10 and 20-year GMAB features are optional, available for a current charge of 0.35% annually (1.00% maximum) and may be terminated at any time. Either GMAB may be elected at issue, but not both. The GMAB features may not be available in all states. Investors electing either GMAB must invest in a Directed Allocation Model, which diversifies their portfolio based on risk tolerance and growth objectives. These models provide investors with the potential to grow the retirement portfolios within acceptable risk parameters, while the GMAB ensures against long-term downside risk. The 10-year GMAB value may be reset by the contract owner beginning on the second contract anniversary and on subsequent contract anniversary dates until the anniversary preceding the attained age of 90 (80 in New York). The 20-year GMAB is available to contract owners at issue ages up to attained age 80 (64 in New York). Age 64 is the maximum issue age in New York for clients who select the GMAB 26 Year Benefit Period, since the contract matures in New York at age 90, 26 years after age 64. About MassMutual Financial Group MassMutual Financial Group -- comprised of member companies with more than $350 billion of assets under management as of March 31, 2005 -- is a global, growth-oriented, diversified financial services organization providing life insurance, annuities, disability income insurance, long-term care insurance, retirement planning products, structured settlement annuities, trust services, money management, and other financial products and services. Assets under management include assets and certain external investment funds managed by MassMutual subsidiaries. The MassMutual Financial Group is a marketing designation (or fleet name) for Massachusetts Mutual Life Insurance Company and its affiliates, which include: OppenheimerFunds, Inc.; Baring Asset Management; Babson Capital Management LLC; Cornerstone Real Estate Advisers, Inc.; MML Investors Services, Inc.; The MassMutual Trust Company, FSB; Antares Capital Corporation; MML Bay State Life Insurance Company; C.M. Life Insurance Company; and MassMutual International, Inc. MassMutual is on the Internet at http://www.massmutual.com. MassMutual Transitions Select(SM) variable annuity is sold by prospectus. Before purchasing a variable annuity contract, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and its underlying investment choices. For this and other information, please obtain the prospectuses for MassMutual Transitions Select variable annuity and its underlying investment choices from your registered representative. Please read the prospectuses carefully before investing or sending money. MassMutual Transitions Select [Policy Form #: TMLS; TMLS (NC)] is a variable annuity contract issued by Massachusetts Mutual Life Insurance Company, 1295 State Street, Springfield, MA 01111-0001. Principal Underwriter: MML Distributors, LLC, 1414 Main Street, Springfield, MA 01144. Wholly owned subsidiary of Massachusetts Mutual Life Insurance Company. CONTACT: Mark Di Giorgio (413) 744-7722 email@example.com
SOURCE Massachusetts Mutual Life Insurance Company
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