Annuities

There are many different ways to think about retirement, and your dreams may not appear on anyone’s bucket list but your own. No matter how you envision retirement, having the freedom to live life your way will depend, at least in part, on having a secure source of reliable income. Annuities are one of the few sources of retirement income that can guarantee¹ income for life.

How do annuities work?

It really depends on the annuity. Some are designed to help you accumulate savings for long-term goals like retirement. Other annuities focus on providing a guaranteed income stream that begins either immediately or in the future.

Do I need an annuity?

A longer lifespan can translate into a longer retirement, so your savings may have to go further and last longer. A deferred annuity can help you to accumulate assets more tax efficiently and, when the time is right, convert them into income you can’t outlive.

Product Type	Key Considerations	Focus	Death Benefit Protection
Deferred Fixed Annuity	Guaranteed fixed interest rate Tax-deferred² growth Principal protection	Tax-deferred accumulation
Variable Annuity	Tax-deferred² growth potential Range of investment choices Potential for loss in value	Tax-deferred accumulation	Typically
Fixed Index Annuity	Interest is credited to an index account based in part on the performance of an external index Tax-deferred growth Market loss protection	Tax-deferred growth or, if a guaranteed lifetime withdrawal benefit is elected, meeting predictable income goals.
Immediate Income Annuity	Guaranteed income begins within 13 months of contract issue Single purchase payment Limited liquidity	Immediate income needs	Depends upon annuity option chosen
Deferred Income Annuity (DIA)	Flexible purchase payments Guaranteed income generally begins no earlier than 13 months after contract issue No liquidity (limited exceptions on some products)	Future income needs	Most DIA options provide for a return of purchase payment(s) if you die before income payments begin. After annuity income payments begin, any death benefit payable will be based on the annuity option you have chosen.

Planning

Social Security and you

When it comes to Social Security, your age,
marital status, health, and financial needs are
all important.

Learn More

Retirement

The Alliance for Lifetime Income

MassMutual has partnered with the Alliance for Lifetime Income to raise awareness about the importance of guaranteed lifetime income when it comes to retirement.

Learn More

Retirement

How annuities work

Learn the differences between deferred fixed, variable, and income annuities and how they can work for you. Contact a MassMutual Financial Professional today.

Learn More

Why MassMutual?

About Us