MassMutual Stable Voyage
Product Details
- Minimum premium of $10,000 and maximum premium of $1.5 million
- Issue age: 18 (or 19 in AL, DE & NE) to 85
- Guarantee period of three, four or five years
- Surrender charge schedule starting at 7%
Pros
- Lower surrender charge fees than competitors
- 10% free withdrawals
- Nursing home and terminal illness waivers
Cons
- Rates not as high as products from other providers
About MassMutual Stable Voyage
Stable Voyage is one of MassMutual’s fixed deferred annuities. The product has a minimum premium of $10,000 and a maximum premium of $1.5 million. Customers can choose initial guarantee periods of three, four or five years.
Another feature of the Stable Voyage annuity is the 30-day renewal period once the initial guarantee period elapses. During this period, customers can withdraw their money or renew their annuity for another term of one, three, four or five years.
When it’s time to annuitize the contract, Stable Voyage customers can choose from standard payout options such as single life, joint and survivor, period certain and life with period certain.
Stable Voyage has a free withdrawal provision consistent with other fixed annuities; owners can withdraw 10% of their contract’s value each year without incurring a surrender charge.
One additional benefit of this annuity is its lower surrender charge schedule. While many fixed annuities charge up to 9% or 10% for early withdrawals or surrenders, Stable Voyage’s surrender charges max out at 7%.
Stable Voyage annuity owners can customize their contracts with additional features available for an extra cost. These optional riders include the following:
- The Nursing Home and Hospital Waiver allows the annuity owner to withdraw all or part of the contract’s value without a surrender charge if they are confined to a nursing home or hospital for at least 90 days. This waiver is not available in California.
- The Terminal Illness Waiver allows partial or total contract withdrawal without a surrender charge if the owner becomes terminally ill during the contract’s accumulation phase.
- The Death Benefit pays out to the contract’s beneficiary upon the owner’s death. If the owner passes away during the annuity’s accumulation phase, the beneficiary receives a benefit equal to the contract value. If the owner’s death occurs during the payout phase, the death benefit amount is determined by the payout option the owner chose.
For investors seeking the safety and security of a fixed annuity, MassMutuals Stable Voyage is an excellent choice. MassMutual boasts top marks from rating agencies on financial stability. However, while your money is safe and sound, the interest rate options aren’t nearly as strong. Investors who prioritize absolute safety over maximum return may find this to be the right product.
Stephen Kates, CFP®Principal Financial Analyst for Annuity.orgStephen Kates, CFP® is a personal finance expert specializing in financial planning and education. He serves as the Principal Financial Analyst for Annuity.org, where he delves into industry trends to support consumers and financial advisors on wealth management, annuities, retirement planning, and investing.
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Our Take on MassMutual Stable Voyage
Overall, the MassMutual Stable Voyage annuity is a solid option for anyone considering fixed deferred annuities. Stable Voyage’s low surrender charges, rate guarantees and options for lifetime income make this annuity ideal for conservative investors who want to grow their retirement savings steadily and receive predictable income.
Those looking for a safe savings vehicle might also prefer Stable Voyage because of its provider’s name recognition and solid financial footing. MassMutual has a strong background in the insurance and annuity industry, and a good reputation for financial stability and customer satisfaction.
Compare Products From MassMutual
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| Product |
Rate
|
Guarantee Period
|
Surrender Period
|
AM Best Rating
|
|---|---|---|---|---|
Advantage 5 Advisory |
5.05% | 5 Years | 5 Years | A++ |
|
American Freedom Aspire 3 |
4.45% | 3 Years | 3 Years | A++ |
|
American Freedom Aspire 5 |
4.55% | 5 Years | 5 Years | A++ |
|
American Freedom Aspire 7 |
4.00% | 7 Years | 7 Years | A++ |
|
American Freedom Classic 5 |
4.90% | 5 Years | 5 Years | A++ |
|
Freedom Elevate 3 |
4.70% | 3 Years | 3 Years | A++ |
|
Freedom Elevate 5 |
4.35% | 5 Years | 5 Years | A++ |
|
Freedom Elevate 5 |
4.15% | 5 Years | 5 Years | A++ |
|
Freedom Elevate 7 |
3.55% | 7 Years | 7 Years | A++ |
|
Freedom Elevate 7 |
4.05% | 7 Years | 7 Years | A++ |
About MassMutual
MassMutual helps its customers achieve financial and retirement security through its range of life insurance and annuity products. The company offers five different annuities, including fixed annuities like Stable Voyage, immediate and deferred income annuities and variable annuities.
MassMutual maintains an outstanding reputation for customer satisfaction, placing second in the 2023 J.D. Power Customer Satisfaction Survey rankings for annuity companies. The company’s financial strength is also admirable, with excellent ratings from all four major credit rating agencies.
MassMutual’s Financial Strength Ratings
| Credit Rating Agency | Financial Strength Rating |
| A.M. Best | A++ (Superior) |
| Fitch Ratings | AA+ (Very Strong) |
| Moody’s | Aa3 (High Quality) |
| Standard & Poor’s | AA+ (Very Strong) |
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