MassMutual Single Premium Immediate Annuity

home

about

careers

contact

site map

immediate annuities

MassMutual Single Premium Immediate Annuity (SPIA)

We no longer offer these contracts for sale to the public.

A MassMutual Single Premium Immediate Annuity (SPIA) works simply. When you pay the insurer a lump sum premium, the insurer guarantees to make regular payments to you, typically starting immediately. Each payment is fixed and stable for the time period selected. Payment of lifetime income is contingent upon the claims paying ability of the issuing company or companies.

A MassMutual SPIA is predictable
We guarantee the amount of each payment, providing you the security of knowing exactly how much income you will receive each month. Don't worry about the stock market's ups and downs. Your MassMutual SPIA can provide a solid base, on which you can build a diversified retirement income plan.

A variety of income options
Identify your objectives and your investment professional will help you choose the income option that's right for you. That way you'll enjoy reliable income that you can depend on for life.

Available Income Options:

Single Life

Single Life (Payment Guaranteed for Amount of Single Premium)

Single Life with Guaranteed Payment Period

Joint and Survivor Life

Joint and Survivor with Guaranteed Payment Period

Joint and Survivor with Reduced Income to Survivor

Joint and Survivor with Reduced Income to Survivor with a Guaranteed Payment Period

ERISA Option

ERISA Option with a Guaranteed Payment Period

Annuity Certain Income Option

Single Life
Periodic payments end at death of annuitant.

Single Life (Payment Guaranteed for Amount of Single Premium)
Periodic payments for the life of the annuitant. If the annuitant dies before receiving total payments equal to the premium paid, payments continue to the beneficiary until the sum of all payments equal the single premium paid.

Single Life with Guaranteed Payment Period
Periodic payments for the life of the annuitant. Payments are guaranteed for a minimum period of years, or years and months. If the annuitant dies before the end of the guaranteed period, any remaining guaranteed payments are continued to the beneficiary.

Joint and Survivor Life
Periodic payments for as long as either annuitant is living. Payments stop when both annuitants die.

Joint and Survivor with Guaranteed Payment Period
Periodic payments for the lives of the annuitants. Payments are guaranteed for a minimum number of years, or years and months. If both annuitants die before the end of the guaranteed period, any remaining guaranteed payments will continue to the beneficiary.

Joint and Survivor with Reduced Income to Survivor
Periodic payments as long as both annuitants are living. Upon the death of the first annuitant, payments reduce for the survivor's lifetime (reduced payments may be for 3/4, 2/3 or 1/2 of the original amount). Payments stop when both annuitants die.

Joint and Survivor with Reduced Income to Survivor with a Guaranteed Payment Period
Periodic payments with reduced payments upon the death of the first annuitant. If a death occurs prior to the end of the guaranteed payment period, the survivor will continue to receive full benefits until the end of that period. Then payments will be reduced. If both annuitants die before the end of the guaranteed period, any remaining guaranteed payments continue to the beneficiary.

ERISA Option
ERISA requires that unless a married participant in a pension plan elects another option in writing, a qualified joint and survivor annuity must be provided. The pension plan participant is considered the primary annuitant with benefits reduced to the spouse upon the death of the primary annuitant. The reduced percentage must be at least 50%. The pension plan will specify the required percentage.

ERISA Option with a Guaranteed Payment Period
Periodic payments with reduced benefits to the spouse upon death of the primary annuitant. Payments may be guaranteed for up to 50 years. There is no reduction of benefit during the guaranteed period. If both annuitants die before the end of the guaranteed period, any remaining guaranteed payments continue to a beneficiary.

Annuity Certain Income Option
Minimum period certain - 5 years

Maximum period certain - 30 years (for 30+ years, must obtain approval letter from home office)

Sum of age of annuitant and period certain cannot exceed 110 years. For qualified plans the Internal Revenue Code may impose further restrictions.

MassMutual Single Premium Immediate Annuity (policy form numbers 810-1A-7900/811-1A-7900/812-1A-7900/820-1A-7900/822-1A-7900/830-1A-8500) is a fixed immediate annuity contract issued by Massachusetts Mutual Life Insurance Company.

Massachusetts Mutual Life Insurance Company and affiliated companies, Springfield, MA 01111.

AN8585 0403

help / service

Need help, fast? MassMutual has a range of online service and support options ready to help you.

	service
	forms
	service request form

For additional information call our toll-free number: 1 (800) 272-2216 (press 2); Monday-Friday 8:00a.m.-8:00p.m.(ET)

immediate annuities

	MassMutual Single Premium Immediate Annuity (SPIA)
	MassMutual RetireEase^SM
	MassMutual RetireEase Select^SM

related information

	retiring wisely
	annuitization
	form 5498
	form 1099-R
	minimum required distributions

prepare

Are you looking to address financial concerns related to a particular event in your life? Prepare to meet any of life's challenges and see how the MassMutual Financial Group companies can help.

contact a financial professional
Experienced financial professionals from MassMutual Financial Group companies can help you develop the right financial strategy to meet your needs.

	how a financial professional can help you

locate an office

Please enter a ZIP code or a city and state to locate a sales office near you.


	RI00734 0310

privacy / legal notice