Key features and who it’s best for
- Investment choices
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Envision offers a range of investment options, including stock, bond, and specialty funds for potential growth.
- RetirePay rider
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The RetirePay rider is available for an additional fee, providing a guaranteed lifetime income stream regardless of market conditions. However, there are restrictions on investments and excess withdrawals may impact the guarantee.
- Withdrawals
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Envision allows free withdrawal options up to 10 percent per year, with additional riders for long-term care and terminal illness that waive charges under specific circumstances.
- Death benefit
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In the event of your passing, your beneficiary will receive at least the greater of your contract value or total purchase payments made, adjusted for any withdrawals.
- Fees
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Envision, like most variable annuities, includes various annual fees such as 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 under $100,000.
- Who it’s best for
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Envision is ideal for individuals seeking higher growth potential than other offerings from MassMutual. However, it’s important to note that variable annuities involve market risk, including potential loss of principal, and come with higher fees. Caution is advised when considering this option.