What Is the MassMutual Ascend Premier Income Bonus?
The Premier Income Bonus is a fixed indexed annuity from MassMutual Ascend Life Insurance Company with a built-in lifetime income rider. The product is designed for retirees and pre-retirees who want guaranteed lifetime income they can turn on immediately, paired with the highest financial-strength rating available in the FIA category (AM Best A++, Comdex 97) and a meaningfully shorter 7-year surrender period than most competing income FIAs.
On a live illustration we ran on May 23, 2026 for a joint-life couple with both annuitants age 60 and $100,000 premium, the contract starts paying $3,710 of guaranteed annual lifetime income from day one. Deferring activation to age 65 raises the guaranteed annual income to $5,512. Unlike most income-rider FIAs, there is no required wait period before lifetime withdrawals can begin.
Premier Income Bonus at a Glance
| Feature | Details |
|---|---|
| Product Type | Fixed Index Annuity (FIA) with built-in GLWB rider |
| Issuing Carrier | MassMutual Ascend Life Insurance Company (Cincinnati, OH), wholly owned subsidiary of MassMutual |
| Surrender Period | 7 years |
| Surrender Schedule | 6% / 5% / 4% / 3% / 3% / 3% / 3% |
| Income Base Bonus | 6% credited to benefit base on all purchase payments at issue |
| Income Roll-Up | 6% simple interest for 10 years, capped at 250% of purchase payments plus rider bonuses |
| Rider Fee | 1.15% annually, deducted from account value (charged against benefit base) |
| Income Activation | Available immediately (no required wait period) |
| Single or Joint Life | Both options available; joint life pays lower withdrawal percentage |
| Minimum Premium | $10,000 |
| Additional Premium | $2,000 minimum, accepted in first two contract months only |
| Free Withdrawal | 10% of purchase payments year 1, 10% of account value years 2+ |
| Charge Waivers | Extended care and terminal illness (subject to state availability) |
| AM Best Rating | A++ (Superior, top tier) |
| Comdex Composite | 97 (top 1% of U.S. life insurers) |
| State Availability | Not available in AK, CA, GU, NY, PA, PR, UT, VI, WA |
Is MassMutual Ascend a Good Annuity Company?
MassMutual Ascend Life Insurance Company is the rebranded successor to Great American Life Insurance Company, which was acquired by MassMutual in 2021 in a $3.5 billion transaction. MassMutual Ascend retained the operational footprint, distribution network, and product expertise of the former Great American while inheriting the financial strength backing of the MassMutual parent organization. MassMutual itself was founded in 1851 and is one of the largest mutual life insurance companies in the United States.
The financial strength profile is among the strongest in the U.S. annuity market:
| Rating Agency | Rating |
|---|---|
| AM Best | A++ (Superior, top tier) |
| Comdex Composite | 97 |
Among the carriers we place, only New York Life (Comdex 100), Guardian (100), Thrivent (100), and Reliance Standard (also 91-plus) score higher on the composite rating measure, and most of those carriers do not offer income-rider FIAs that are competitive with the Premier Income Bonus on rider features or crediting menu. The combination of A++ financial strength and a substantive income product is rare in the FIA category. Recent LIMRA industry sales data shows MassMutual Ascend posting $19 billion in 2025 FIA sales, placing the carrier firmly in the top tier of the U.S. fixed indexed annuity market.
How the Income Rider Works
The Premier Income Bonus rider is built into the contract at no additional fee beyond the 1.15% annual charge on the benefit base. Three mechanics drive the rider’s value over time.
1. 6% Bonus to Benefit Base at Issue
Any premium paid into the contract during the first two months receives a 6% bonus credited directly to the rider benefit base. A $100,000 premium creates a starting benefit base of $106,000. The 6% bonus applies only to the benefit base, not the accumulation value, so it cannot be lost to early surrender of the contract.
2. 6% Simple Roll-Up for 10 Years
On each contract anniversary during the first 10 years (assuming lifetime withdrawals have not yet begun), the benefit base is credited with 6% simple interest on the bonus-adjusted base. On a $100,000 premium that produces $6,360 of roll-up each year ($106,000 × 6%). The roll-up is guaranteed and does not depend on index performance.
The benefit base growth ladder on the illustration ($100,000 premium, joint life, both age 60):
| Contract Year | Annuitant Age | Benefit Base |
|---|---|---|
| Issue | 60 | $106,000 |
| Year 2 | 61 | $112,360 |
| Year 3 | 62 | $118,720 |
| Year 4 | 63 | $125,080 |
| Year 5 | 64 | $131,440 |
| Year 6 | 65 | $137,800 |
The benefit base growth caps at 250% of premium plus rider bonuses, which on this illustration would be $265,000 (the maximum the benefit base can reach through roll-up alone). The benefit base may also reset to the account value on any contract anniversary if the account value is higher, which can restart the 10-year roll-up clock and potentially produce a larger lifetime income at activation.
3. No Required Wait Period
Unlike most income-rider FIAs (Athene, Allianz, Nationwide, F&G all require either a 1-year or 10-year wait before income can begin), Premier Income Bonus allows lifetime withdrawals to start immediately. For buyers who want or need income now, that is a meaningful structural difference.
Guaranteed Lifetime Income by Activation Age (Joint Life)
On a joint-life illustration with both annuitants age 60, the guaranteed annual income at each activation age over the first six years is:
| Activation Age | Benefit Base | Withdrawal Rate | Annual Lifetime Income | Income / Premium |
|---|---|---|---|---|
| 60 (at issue) | $106,000 | 3.50% | $3,710 | 3.71% |
| 61 | $112,360 | 3.60% | $4,045 | 4.04% |
| 62 | $118,720 | 3.70% | $4,393 | 4.39% |
| 63 | $125,080 | 3.80% | $4,753 | 4.75% |
| 64 | $131,440 | 3.90% | $5,126 | 5.13% |
| 65 | $137,800 | 4.00% | $5,512 | 5.51% |
Two structural observations on the table. First, the withdrawal percentage scales with age at activation, so a buyer who can defer activation a few years earns a meaningfully larger annual income. Second, this is the joint-life schedule, which pays roughly 25 basis points lower than single-life at each age because the carrier is on the hook for two lives instead of one. Single-life withdrawal percentages would run 25 to 50 basis points higher.
How It Compares on Guaranteed Income
The Premier Income Bonus guaranteed income at age 70 (after a 10-year deferral, joint life, $100,000 premium) reaches approximately $7,500 to $8,000 per year, which is below comparable competitors on matched 10-year-deferral illustrations:
- Athene Ascent Pro 10 Bonus (single life, age 70): $16,500
- Nationwide Peak 10 (single life, age 70): $15,413
- Allianz 222+ (single life, age 70): $8,360
- MassMutual Ascend Premier Income Bonus (joint life, age 70): approximately $7,500
For pure guaranteed-income maximization, the Premier Income Bonus is not the strongest pick in the category. Its value proposition is different. The product wins on three other dimensions: top-tier financial strength (A++ vs A+ for Athene and Nationwide), shorter 7-year surrender, and immediate-income availability with no wait period. For buyers who weight those features heavily, the income trade-off may be acceptable.
Index Crediting Strategies
The illustration we ran used a balanced four-strategy allocation. Current rates on the contract are competitive across the menu:
| Index Strategy | Crediting Method | Current Rate |
|---|---|---|
| First Trust Barclays Edge | 1-year point-to-point cap | 13.00% |
| First Trust Barclays Edge (7-year cap lock) | 1-year point-to-point cap, locked for 7 years | 12.75% |
| S&P 500 Daily Risk Control 10% Total Return | 1-year point-to-point participation rate | 70% |
| S&P 500 | 1-year point-to-point cap | 8.50% |
The 8.50% S&P 500 cap is competitive at the A++ tier, sitting above Athene (5.5%), Allianz 222+ (4.5%), and Nationwide Peak 10 (6.25%) but below Corebridge Power Select Builder (9%) on similar contracts. The 7-year cap lock on the First Trust Barclays Edge strategy at 12.75% is unusual in the market and removes the carrier’s discretion to lower that specific cap during the surrender period.
Using current rates and the most recent 10 years of index performance, the illustration’s hypothetical scenario produces an account value of $500,203 at year 35 (annuitant age 95), with cumulative lifetime withdrawals of $129,850 paid out along the way. The annual effective rate of return on the contract, net of withdrawals and rider fees, is 7.78%.
Surrender Charges and Free Withdrawals
The Premier Income Bonus has one of the shorter and less punitive surrender schedules in the income-rider FIA category:
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Surrender Charge | 6% | 5% | 4% | 3% | 3% | 3% | 3% |
Compared to the typical 10-year, 8.3% to 9% starting surrender schedules on Athene, Nationwide, and Allianz income-rider FIAs, the Premier Income Bonus is materially more liquid. For buyers who want exposure to an FIA structure but do not want to lock up money for a full decade, this is a real advantage.
Free withdrawal allowance is 10% of purchase payments in year 1 and 10% of account value in subsequent years. Required minimum distributions are typically taken as part of the free withdrawal. For more on how surrender charges and free withdrawals interact, see our annuity surrender charges guide.
Pros and Cons
Pros
- Top-tier financial strength. AM Best A++ and Comdex 97 put MassMutual Ascend among the highest-rated FIA carriers in the U.S. Few competitors at this rating depth offer a substantive income product.
- Shorter 7-year surrender period. The 6% / 5% / 4% / 3% / 3% / 3% / 3% schedule is materially more liquid than the 10-year, 8% to 9% schedules common in the category.
- Immediate income availability. No required wait period before lifetime withdrawals can begin. Useful for buyers who want or need income now.
- Competitive crediting menu. 13% cap on First Trust Barclays Edge, 8.5% S&P 500 cap, and 70% participation on S&P 500 DRC are all at or near the top of the A++ tier.
- Joint life option built into the rider. Income is guaranteed for both spouses’ lives without requiring a separate joint rider election that often costs more on competing products.
- Care-event waivers. Extended care and terminal illness charge waivers included subject to state availability.
- 7-year cap lock available. The First Trust Barclays Edge 7-year cap lock strategy guarantees the current 12.75% cap for the full surrender period, removing the carrier’s discretion to lower it.
Cons
- Lower guaranteed income than competing income-rider FIAs. The 6% bonus and 6% simple roll-up produces a smaller benefit base than the 20% bonus and 10% simple roll-up on the Athene Ascent Pro 10 Bonus. For buyers maximizing guaranteed income, this is not the strongest pick.
- 1.15% annual rider charge. Higher than the 1.00% rider fee on Athene’s Ascent Pro 10 Bonus and the 0% rider fee on Allianz 222+.
- Not available in nine states. Excluded from AK, CA, GU, NY, PA, PR, UT, VI, and WA. The California and Pennsylvania exclusions are notable.
- Lower withdrawal percentages on joint life. The starting 3.50% withdrawal rate at age 60 (joint) is below most competitors at the same age. Single-life rates would be 25 to 50 basis points higher.
- Caps and participation rates can be lowered on most strategies. Only the 7-year cap lock strategy guarantees a rate for the surrender period. The other strategies are subject to carrier discretion on each contract anniversary.
Who the Premier Income Bonus Is Best For
The Premier Income Bonus is the right pick for joint-life couples in their late 50s and early 60s who want guaranteed lifetime income paired with the highest financial-strength rating available, are willing to accept a lower guaranteed income number in exchange for the A++ rating and 7-year surrender, and want the option to turn on income immediately if their circumstances change.
It is also a strong fit for buyers who specifically want a mutual-parent carrier rather than a public-company or private-equity-affiliated insurer. MassMutual is one of the largest mutual life insurers in the U.S., and MassMutual Ascend benefits from that mutual ownership structure even though Ascend itself operates as a wholly owned subsidiary. For buyers who weight ownership structure and rating depth above current crediting rates, this is one of the cleanest income-FIA picks at the top of the rating scale.
It is not the right contract for buyers who want the maximum possible guaranteed lifetime income (Athene’s Ascent Pro 10 Bonus or Nationwide’s Peak 10 pay more), who live in California, Pennsylvania, or one of the other excluded states, or who specifically want a long-deferral product with a 10-year wait period before income begins.
How It Compares to Other Income-Focused FIAs
The Premier Income Bonus competes most directly with Athene Ascent Pro 10 Bonus, Nationwide Peak 10, Allianz 222+, and F&G SecureIncome 7 in the income-rider FIA category. For head-to-head analyses on matched live illustrations:
- Athene vs Allianz Annuities: 2026 Comparison
- Athene Ascent Pro 10 Bonus Review
- Nationwide Peak 10 Review
- Allianz 222 Annuity Review
- F&G SecureIncome 7 Review
- Corebridge Power Select Builder Review (accumulation alternative)
How to Buy the Premier Income Bonus
My Annuity Store places the MassMutual Ascend Premier Income Bonus through MassMutual Ascend’s independent distribution channel. We are licensed in 47 states and have placed more than $1 billion in annuity premium since 2020. To request a personalized illustration showing your age, premium, state, and single- or joint-life payout, use our free annuity quote request form or call us directly at 855-583-1104.
The illustration referenced throughout this review (joint life, both annuitants age 60, $100,000 premium, Indiana, 25/25/25/25 allocation across the four indexed strategies) was run May 23, 2026. Current crediting rates and bonus levels are subject to change. Your specific guaranteed income amount will depend on premium, age, single or joint life election, state of issue, allocation choices, and the carrier’s rate sheet on your purchase date.
Frequently Asked Questions
What is the guaranteed lifetime income on the Premier Income Bonus at age 60 on $100,000?
On a joint-life illustration with both annuitants age 60 activating income immediately, the Premier Income Bonus guarantees $3,710 per year for life. The benefit base starts at $106,000 (premium plus 6% bonus) and the joint-life withdrawal rate at age 60 is 3.50%. Single-life rates would be 25 to 50 basis points higher.
How is MassMutual Ascend different from Great American Life?
MassMutual Ascend is the rebranded successor to Great American Life Insurance Company, which was acquired by MassMutual in 2021 for $3.5 billion. The legal entity, distribution network, and product expertise carried through unchanged; the brand was relaunched as MassMutual Ascend to reflect the new parent ownership. Existing Great American contracts remain in force and continue to be administered by the same operational team.
Does the Premier Income Bonus require a wait period before income begins?
No. Unlike most competing income-rider FIAs (Athene Ascent Pro 10 Bonus, Nationwide Peak 10, and Allianz 222+ all require a 1- to 10-year wait), the Premier Income Bonus allows lifetime withdrawals to begin immediately at issue. The annual income amount is lower for immediate activation than for deferred activation because the benefit base has had less time to grow.
What is the rider fee on the Premier Income Bonus?
The annual rider fee is 1.15% of the benefit base, deducted from the account value at the end of each contract year. This is slightly higher than the 1.00% rider fee on the Athene Ascent Pro 10 Bonus and meaningfully higher than the 0% rider fee on the Allianz 222+. The trade-off is the structural benefits of immediate income availability and the A++ carrier rating.
What is the financial strength rating of MassMutual Ascend?
MassMutual Ascend Life Insurance Company carries an AM Best rating of A++ (Superior), the highest rating category, and a Comdex composite score of 97. The carrier benefits from MassMutual’s mutual ownership structure (founded 1851) and from a 40-plus year continuous rating history at A or higher.
Can I buy the Premier Income Bonus in New York or California?
No. The Premier Income Bonus is not available in New York, California, Pennsylvania, Alaska, Utah, Washington, Guam, Puerto Rico, or the U.S. Virgin Islands. Buyers in those states should consider Nationwide Peak 10 or another income-rider FIA with broader state approval.
Final Take
The MassMutual Ascend Premier Income Bonus is the right income-rider FIA pick for buyers who weight financial strength and product flexibility above maximum guaranteed income. The A++ AM Best rating and Comdex 97 are at the top of the FIA category. The 7-year surrender period is materially more liquid than competing 10-year contracts. The ability to turn on income immediately without a required wait period is structurally different from most income-rider FIAs and useful for buyers whose circumstances may change.
The trade-off is real: the 6% bonus and 6% simple roll-up produces a meaningfully smaller benefit base than the more aggressive 20% bonus and 10% simple roll-up structures on Athene, Nationwide, and similar competitors. If maximum guaranteed lifetime income is the primary goal, those carriers are stronger picks. If A++ financial strength, shorter surrender, and immediate-income flexibility are the priorities, the Premier Income Bonus is the cleaner choice at the top of the rating scale.
To request a personalized illustration based on your age, premium, state, and single- or joint-life election, use our free annuity quote request or call 855-583-1104.
