Key features and who it’s best for
- Investment choices
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Offers a range of underlying investment options including stock, bond and specialty funds.
- RetirePay rider
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RetirePay is an optional rider for an extra fee that guarantees a lifetime income stream regardless of market conditions. However, it has limitations on investments and excess withdrawals can impact the guarantee.
- Withdrawals
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Includes free withdrawal options (up to 10 percent per year), with riders for long-term care and terminal illness that waive charges under certain conditions.
- Death benefit
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Your beneficiary receives at least the greater of your contract value or total purchase payments made, adjusted for withdrawals.
- Fees
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Like most variable annuities, this product carries several annual fees, including: a 1.15 percent M&E risk charge, a 0.15 percent administrative fee, expense ratios for underlying investment funds and a $40 contract maintenance charge for contracts with less than $100,000.
- Who it’s best for
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While Envision offers more growth potential than MassMutual’s other offerings, variable annuities involve market risk, including the potential loss of your principal. It also comes with higher fees, so proceed with caution.