Is the MassMutual Ascend Index Protector 7 a Good Annuity?
The MassMutual Ascend Index Protector 7 is a 7-year fixed index annuity issued by MassMutual Ascend, designed for safe accumulation through fee-based IARs. If you buy through a commission-paid agent, see our MassMutual Ascend Legend 7 review instead. The verdict: a rare 13.75% cap locked for 7 years, but sold in only eight states.
- Best for: clients of a fee-based IAR in CA, IN, MN, MO, OH, PA, TX or UT with $100,000 or more for safe growth.
- Not for: anyone without a fee-based IAR, anyone outside those eight states, or anyone who wants lifetime income.
MassMutual Ascend Index Protector 7 at a Glance
| Feature | Details |
|---|---|
| Purpose | Safe accumulation, fee-based (zero commission) |
| Carrier | MassMutual Ascend Life Insurance Company (AM Best A++) |
| Surrender schedule | 7 years: 7%, 7%, 7%, 6%, 5%, 4%, 3% |
| Market value adjustment | None on this Non-MVA version (how an MVA works) |
| Premium | $100,000 minimum; $2,000,000 maximum to age 75 (lower after) |
| Issue ages | 0 to 85 |
| Free withdrawal | 10% of premium in year 1, then 10% of account value a year |
| Waivers | Extended care (90 days) and terminal illness, after year 1 |
| Death benefit | Greatest of account value, guaranteed minimum value, or return of premium after year 3 |
| Guaranteed minimum value | Return of premium after year 3; 87.5% floor before that |
| Bonus and rider | None |
| Sold in | CA, IN, MN, MO, OH, PA, TX and UT only, through fee-based IARs |
| Illustration basis | Male 60; Indiana; $100,000 non-qualified; 100% First Trust Barclays Edge 7-year cap lock |
What Does the MassMutual Ascend Index Protector 7 Pay?
| Strategy | Crediting |
|---|---|
| First Trust Barclays Edge, 7-year cap lock | 13.75% annual cap, locked 7 years ($100,000 to $249,999) |
| First Trust Barclays Edge, 1-year | Annual cap |
| S&P 500: 1-year cap, 7-year cap lock, Risk Control, U.S. Retiree Spending | Cap or participation rate |
| iShares U.S. Real Estate and MSCI EAFE | Annual cap |
| Declared rate | Fixed |
- The cap lock is the reason to buy: most FIAs can cut the cap every year; this one can’t for 7 years.
- First year only: you must choose the cap lock strategy in year 1.
- Young index: First Trust Barclays Edge launched April 14, 2023, so earlier years are backtested.
- Benchmark it: compare the 13.75% cap with current fixed index annuity rates.
Hypothetical Historical Rate of Return
Our illustration put 100% of $100,000 in the cap lock strategy, using the 11.25% historical cap rather than today’s 13.75%.
| Year | Credited rate | Account value | Cash surrender value |
|---|---|---|---|
| 1 | 11.25% | $111,250 | $104,163 |
| 3 | 9.53% | $121,852 | $114,101 |
| 7 (end of surrender) | 11.25% | $167,777 | $163,196 |
| 10 | 11.25% | $207,651 | $207,651 |
- Backtest caveat: 10-year windows ranged from 6.81% (2007 to 2016) to 8.73% (2012 to 2021), mostly simulated.
- Our planning range: plan on 4% to 7% a year, and treat anything higher as upside.
- Advisory fee: your IAR’s separate fee (often around 1% a year) reduces your real return.
- MYGA benchmark: At today's top 7-year rate of 7.10% (simple interest), $100,000 grows to about $149,700 over 7 years, a gain of $49,700. See current MYGA rates.
Hypothetical vs. guaranteed
Use our fixed annuity calculator to compare this hypothetical value to the guaranteed growth you would earn in a fixed annuity.
MassMutual Ascend Index Protector 7 Strengths and Red Flags
What it does well
- Locked 13.75% cap: no rate cuts on that strategy for the full 7 years.
- A++ carrier: AM Best’s top rating, and in the A range for 40+ years.
- Return of premium after year 3: and no MVA on this version.
Red flags
- Eight states only: CA, IN, MN, MO, OH, PA, TX and UT.
- Fee-based channel only: you need an IAR, whose separate advisory fee comes on top.
- High minimum: $100,000 to start.
- Backtest-heavy index: First Trust Barclays Edge has about three years of live history.
Final verdict: the MassMutual Ascend Index Protector 7 is built for safe accumulation with a cap that can’t be cut. It earns our 4.0 rating for fee-based clients in eight states. Agent buyers should see the MassMutual Ascend Legend 7 instead of the Index Protector 7.
Compare live rates on 137 fixed index annuities or visit our annuity review database.
This review is for educational purposes only and is not a recommendation or an offer to sell any annuity. Product features, index options, and rates can and do vary by state, and this product is not available for sale in every state. Always request a carrier illustration and work with a licensed annuity agent before you buy.
Other MassMutual Ascend Reviews
Frequently Asked Questions
Is the Index Protector 7 commission-free?
Yes. It pays no commission and is sold through fee-based IARs. Their advisory fee is billed to you separately, outside the annuity.
Which states can buy the Index Protector 7?
Only California, Indiana, Minnesota, Missouri, Ohio, Pennsylvania, Texas and Utah.
Can I lose money in the Index Protector 7?
Not from the index; down years credit 0%. Surrender charges apply for 7 years, but after year 3 you are guaranteed at least your premium back, less withdrawals.
Does the Index Protector 7 have an income rider?
No. It is built for accumulation only. You can still annuitize for lifetime income later.
