Skip to main content

Variable Annuities

Variable annuities provide the potential to grow your retirement savings and defer paying taxes on the earnings until you withdraw them as income.1

A variable annuity offers a diverse range of professionally managed investment choices spanning multiple asset classes and investment styles. That means you can invest your contract value in a way that reflects your retirement goals, time horizon, and risk tolerance.

What is a variable annuity?

Grandmother and granddaughter wearing sunglasses smiling

A variable annuity is a tax-deferred retirement vehicle that can increase or decrease in value, depending on how financial markets perform. A variable annuity is also an insurance product, so it provides many important features such as a death benefit, lifetime income, and optional living benefits.

MassMutual Envision Variable Annuity helps you accumulate assets for retirement with a wide variety of investment choices, including asset allocation funds, bond funds, traditional equity funds, and specialty funds which allow for choice, control, and confidence as you plan for retirement.

Variable annuity features and benefits

growth potential1
You'll pay no taxes on any investment gains from your variable annuity until you withdraw your money. The opportunity for growth in a variable annuity also entails the risk that the value of your contract can go up or down depending on the performance of the investments.

Death benefit
If you die during the accumulation phase of your deferred variable annuity contract, your beneficiary will receive a death benefit. Any variable annuity death benefit payable during the annuity phase is based upon the annuity payout option selected.

Income options
There are a variety of ways to generate income from a variable annuity. One way is through withdrawals. Another is through annuitization, which distributes funds from the contract providing guaranteed income for life or a set period of time.2

Compare annuity options

What is a guaranteed lifetime withdrawal benefit (GLWB)?

A GLWB annuity rider is an optional living benefit that you can add to a variable annuity contract to secure guaranteed annual lifetime income in retirement. MassMutual has introduced MassMutual RetirePaySM, an optional living benefit available for an additional cost with our MassMutual Envision Variable Annuity, which can provide you with guaranteed annual lifetime income, potential to increase future income amounts with positive investment performance, and protect your future income from market declines.

How to buy an annuity

illustration of two figures in virtual meeting

A MassMutual financial professional will be with you every step of the way to help you prepare for the future.

    • Assess
    • During your initial phone call, your financial professional will ask you questions to understand your financial goals and objectives.

    • Recommend
    • After looking at your entire financial picture, your financial professional will provide you with options so you can choose the products and financial planning strategies that are best suited for your situation.

    • Purchase
    • If you're satisfied with the recommendations, your financial professional will secure the products and services to help ensure your financial future.

    • Review
    • Your financial professional will work with you over time through periodic reviews to help you monitor the strategies in place and reach your financial planning goals.

Contact a financial professional

Why MassMutual



we've been helping people secure their financial future and protect the ones they love

more than


of life insurance protection in force as of 12/31/23

named for the


year in a row as a Best Place to Work for Disability Inclusion according to the Disability Equality Index®



insurance and annuity benefits paid to policyowners and other customers in 2023

View Product/Fund Performance and Regulatory Documents

1 There is no additional tax-deferral provided when an annuity contract is used to fund a tax-qualified retirement plan. Investors should only buy an annuity contract for the annuity’s additional features, such as lifetime income payments, living benefits and/or death benefit protection.

2 Guarantees are based on the claims-paying ability of the issuing company.


Before purchasing a 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.

Taxable withdrawals are subject to ordinary income tax and, if made prior to age 59 ½, may be subject to an additional 10% federal income tax.

The information provided is not written or intended as specific tax or legal advice. 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.

This product and/or certain features may not be available in all states.
MassMutual Envision (Contract Form FPVDA21 and ICC21-FPVDA in certain states, including North Carolina) is a flexible premium deferred variable annuity contract issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.

Variable annuities offered through registered representatives of MML Investors Services, LLC, Springfield, MA 01111-0001 or a broker-dealer that has a selling agreement with MML Strategic Distributors, LLC, Springfield, MA 01111-0001.