More Guaranteed Income Solutions

How can you turn other savings into more guaranteed income?

There is only one other way to increase your guaranteed income. You can use a portion of your savings to purchase an annuity - a financial vehicle that can help you turn your savings into a guaranteed stream of income. Guarantees are based on the claims-paying ability of the issuing a company.

There are two basic categories of annuities. What is right for you depends on when you need income.

  • Income annuity: known as a Single Premium Immediate Annuity (SPIA), it turns a one-time purchase payment into a series of regular income payments.
  • Deferred annuity: allows your assets within the contract to grow tax-deferred. Then, when you are ready to retire, it can turn those assets into regular income payments.

Either type of annuity allows you to choose whether you want guaranteed income payments for life or for a certain period of time. You can also choose to have guaranteed income continue for your spouse if he or she outlives you.

Within each category, you can select a fixed or variable type.

A fixed annuity guarantees a fixed interest rate set by the issuing company. A variable annuity allows you to choose from underlying investments, including equity-based investment choices. The investment return and principal value of the variable annuity contract will fluctuate and may be worth more or less than the original cost when redeemed. Variable annuities also include specific charges and expenses.

An annuity contract typically includes a death benefit that guarantees your beneficiaries will get back at least what you put in (minus withdrawals). This is an advantage not available with mutual funds or other investments.

Annuities are not appropriate for everyone. There are fees and charges associated with owning an annuity. Annuities do not provide any additional tax advantage when used to fund a qualified plan. Investors should consider buying an annuity to fund a qualified plan for the annuity's additional features, such as lifetime income payments and death benefit protection.

Variable annuities are 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, obtain the applicable product prospectus and the underlying investment choices prospectus from your registered representative or click here Before purchasing a MassMutual variable annuity, you should carefully consider the investment objectives, risks, charges and expenses of the annuity. For this and other information, obtain the prospectus for the annuity from your registered representative. Please read the prospectus carefully before investing or sending money. You may also obtain the prospectuses (or summary prospectuses, if available) for the annuity's underlying investment choices from your registered representative.

The information provided is not written or intended as specific tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. MassMutual, its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.

Principal Underwriters:
MML Investors Services, LLC
MML Distributors, LLC

Subsidiaries of
Massachusetts Mutual Life Insurance Company
1295 State Street
Springfield, MA 01111-0001