MassMutual Adds New Riders to Annuity Portfolio

MassMutual introduced two new riders built around market performance and guaranteed growth in MassMutual Envision, its flexible premium deferred variable annuity, according to a Tuesday announcement.

One of the two new additions, MassMutual RetireCore, is intended to provide a guaranteed 6% roll-up and benefit base growth through market performance. The other new rider, MassMutual RetireCore Stacking, provides added stacking benefit to the same guarantee as RetireCore.

MassMutual Envision annuity contracts come with a death benefit that is a return-of-purchase payment at no additional cost for the greater of the contract value or total of purchase payments, adjusted for any withdrawals.

MassMutual’s investment options for retirement assets include asset allocation funds, bond funds, traditional equity funds and specialty funds.

“Our new Envision variable annuity income and death benefit riders represent a significant enhancement to an already strong platform,” said Liz Forget, MassMutual’s head of product, in a statement. “These additions were designed to provide the protection and flexibility that consumers have been asking for. They bring together guaranteed growth opportunities, robust downside protection and meaningful legacy features, all while preserving the uncapped growth potential that makes variable annuities so compelling.”