massmutual ascend annuity

Find out how an annuity from MassMutual Ascend can help take your financial future above and beyond. 2023 MassMutual Ascend Life Insurance Company. Attached is our response to the above referenced complaint. Not right at all. Thanks. For your reference, reasons for rejection are included below. This reply is in response to your communication regarding the MassMutual Ascend LifeInsurance Company contract referenced in your message. Mass Mutual Ascend annuity: I wish I had read reviews on this company before I invested. I will not use this company in the future! How do I know I can trust these reviews about MassMutual Annuities? If you are a producer, please click below to continue to the site. MassMutual offers a goal-based approach to financial planning with annuities. * Effective yield displayed. We made payments for years so we would have money when we retire. So, now not only have LOST what we thought we had to retire with, but they are saying we need to pay them. All Rights Reserved. Products issued by MassMutual Ascend Life Insurance Company (Cincinnati, OH), a wholly owned subsidiary of Massachusetts Mutual Life . The Safe Return competes with bank CDs, bonds, and other fixed-income products. VALIC Variable Annuity Life Insurance Company Pros and Cons, Jackson National Life Insurance Company Review, Americo Financial Life and Annuity Insurance Company Review. *Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. BBB Business Profiles may not be reproduced for sales or promotional purposes. She has a wonderful personality and most importantly has my best interests in mind. To receive the latest version of the annuity brochure for your state call 800-872-6684. ***** *******. I had specifically asked them not to send it because I live in a very rural area and mail service is poor. Log in Need assistance? Q:Are there any age restrictions? I am very happy with the Since 1994 I was repeatedly told that I would receive the full account value of my annuity upon separating from service or at the age of 59 1/2. We processed the claim and mailed the death benefit checkon March 22, 2023. In addition, they showed us what our guaranteed cash surrender value would be and that we would not have to pay premium, because our dividends would cover it (which we have on recording). I have left my phone number to be called back when a representative is available. A one-time product-specific training, as required by the insurance company, prior to the solicitation of the sale of an annuity. We received somepaperwork on March 9, 2023, and acknowledged receipt via an E-alert to the complainantsemail. The problem seems to be that when MMA acquired ***** they did not "map" the data correctly from my bank in order to facilitate direct deposit. At the top of your Chrome or Firefox window, near the web address, click the green lock. Pleas help me resolve this issue. Per Mr. *******s contract, he is not eligible to receive the Annuity Value due tonot meeting the premium requirement to receive it. Great to know that there still are businesses out there that still pride themselves on customer service. I wasn't notified, have no idea why the check was reversed as was my brother's payment. Companies displayed may pay us to be Authorized or when you click a link, call a number or fill a form on our site. Secure Contact - Login All rights reserved. Would give 6 stars if possible for the professional service I received from Kiara.She went above and beyond my expectations. Products issued by MassMutual Ascend Life Insurance Company, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual). Insurance companies often issue contracts which are 'state-specific.' He wanted to roll them over. A Balance Of Growth And Protection The policies have lengthy benefit periods to protect your assets and maximize care options. If you look at their (telephone voice logs and fax logs) and materials gathered by both parties received and filed sent back to them, you will see this to be overwhelming. 4. A:Start your annuity application by calling 800-872-6684 or click "Get a Free Quote" in the center of this page for a detailed illustration. Fixed annuities | What is a fixed annuity - MassMutual Ascend It has been a complete pleasure to deal with Kiara on several occasions opening new annuities. My family aided our 90 year old uncle with his annuities. Tax-deferred growth The interest your fixed annuity earns grows tax-free until you start receiving payments or take a withdrawal, giving your fixed annuity the ability to grow at a faster rate. Mass Mutual had a product for a 90 year old at 4.25%. October 3rd, 2022 CINCINNATI - October 3, 2022 - Great American Life Insurance Company announced today that it will now do business as MassMutual Ascend Life Insurance Company (MassMutual Ascend). The information presented here is not a representation of the suitability of any concept or product(s) for an individual and is not tax or legal advice. Excellent customer service! Unsubscribe easily. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. They used that information to quickly annuitize her account within 6 months, guaranteeing a monthly income to a frail 79 year old, destroying her lump sum pay out option, erasing options for burial expenses and death benefits. Best Interest Resource Center My husband and I set up life insurance plans over two decades ago. INVESTMENT AND INSURANCE PRODUCTS: NOT INSURED BY THE FDIC NOT INSURED BY THE FEDERAL GOVERNMENT OR ANY OTHER FEDERAL GOVERNMENT AGENCY, BY THE BANK, OR BY ANY AFFILIATE OF THE BANK NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, THE BANK OR AN AFFILIATE OF THE BANK SUBJECT TO INVESTMENT RISK, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL INVESTED. A request for another document was made on March 9, 2023. At MassMutual Ascend, we have the financial backing to continue to grow and weather the inevitable swings in the financial marketplace. Please begin by refreshing the page to see if your location populates the Near field. Downloading option not supported on this device. I'm beginning to believe businesses don't have personnel in the right office positions anymore. Their"BEST" ratings are for having plenty of money. As l was buying my annuity rates were going up so I cancelled 2 annuities Kiara had already completed and submitted applications for and bought a third annuity at a higher rate. In addition, I attempted to contact MMA from their website to no avail. His TIAA Creff annuities were coming due to annuitize. There are numerous other financial services companies who are financially strong and service-oriented and will treat customers respectfully and honestly, unlike MassMutual. Every time I call the phone number there is over a 30 minute wait time and when I wait it eventually hangs up on me. Barnum Financial Group. Life insurance options: Mass Mutual Ascend completed our review of the owners concerns. MassMutual. Better Business Bureau: Call us today to talk about how you can add dependability to your clients' retirement strategies at 1-855-464-3436. Try using computer. Visit our Q: How do I access my money? FDIC insurance is only for bank deposits. $35.8B in assets $2.9B Capital & Surplus * Effective yield displayed. Try using computer. All insurers are required to maintain a minimum level of risk-based capital to support business operations while offering annuities. This unethical and unscrupulous business practice no doubt allows MassMutual to retain millions in interest each year. I started my process of a disbursement (started paperwork in early December 2022) to me for a initial 1st-year lump sum payment of this annuity that I paid into for many many years. To change your password, clickHERE. These products provide competitive earning potential by allowing you to participate in market growth while limiting risk exposure. Surrender Value that shows up on the details page = $947 What is the Social Security Disability 5 Year Rule? MassMutual Ascend SecureGain 3 | Earn 4.20% - Annuity Resources It was so hard to find a company to give them a review. Mass mutual Ascend number ******* *****. I plan to use my savings of to use my savings of $ during my disability. Our promise. The rebrand comes as a result of the companys acquisition by Massachusetts Mutual Life Insurance Company (MassMutual) in May 2021. Only $200 of premium was paid at thestart of the contract. The product options include deferred fixed, fixed indexed, variable and income annuities. Financial Data for the year ending December 31, 2021. BBB Business Profiles are subject to change at any time. This guaranteed death benefit rider offers a 9% rollup for issue ages 50-75, a 6% rollup for issue ages 76-85 and refund of rider charges in certain circumstances. MassMutual Ascend Life Insurance Company has, International Association of Better Business Bureaus. This site is intended for producer use only. However, the response was dated 13 September 2022, and was a copy of a letter I received from their previous company, Great American Life. We offer holistic financial security through life insurance, disability income insurance, annuities, and long term care solutions. This complaint follows several emails to MassMutual Ascend that have gone ignored. Policies come with standard death benefits and opportunities to earn dividends. The two-part authentication on their login has an incorrect phone number listed for me and therefore I am not able to login. When my financial advisor suggested moving the funds to a different company, I agreed. We have reached out to the owner directly this afternoon at the email address provided regarding hisconcerns. Q: What happens after the rate guarantee period? I received a response to a letter that I sent to MassMutual Ascend on 31 January 2023. March 30, 2023This reply is in response to your communication regarding the MassMutual Ascend Life InsuranceCompany contract referenced in your message. Commission will not be paid until training is completed.If you completed this training through another approved carrier, submit the certification with your contracting paperwork. Get buying tips about Annuities delivered to your inbox. Products Indexed Safe Return Safe Return Offer your clients flexibility with Safe Return. A: No, there are no sales charges or ongoing maintenance fees. Mr. ******* states he thought he wouldreceive the Annuity Value by turning age 59 or meeting a qualifying event. Remember: we live in a world where millions and billions are instantly zipped around the world. No communication, they actually had a voided check that was not blurry. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. The amended regulation is adopted on a state-by-state basis and may require additional training if you were contracted before the effective date. We have a MassMutual annuity with a withdrawal feature. Thank you, you have successfully subscribed to our newsletter! Q: Is the interest taxed? We strongly suggest you consult with financial planning, tax, and legal advisors to determine if an annuity is suitable for your financial situation. A: You have a 30 day window to do whatever you want with the full cash value of your annuity. 12 complaints closed in the last 12 months. By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Customer service agreed that they saw no % in contract. Enjoy reading our tips and recommendations. A:Your beneficiaries will receive the full account value. Mass Mutual then dragged their feet. Can you help me to get a response and my money from them? We apologize for any inconvenience that she encountered. ** Rate may be lower in certain states. After many calls to Damian K*** and the customer service number without results, I received a "no reply" email from Mass Mutual saying to call the customer service number. ****** *****. Q: How do I apply? Our team is here to help. Calculate If you were too sick or injured to work, do you have enough income to cover your living expenses? I am now having extreme difficulty in getting my own money. Definitely need better and more professional staff to help customers for quicker response. A:Your annuity grows tax deferred. . Product overview | About annuities - MassMutual Ascend annuity products Request a index annuity quote. We make significant efforts to ensure the accuracy of the information listed on our website; however, the values listed here are not guaranteed. Dont give these people your business. A: The Secure Gain 5 annuity is not available in all states. Just dishonest company. I highly recommend them. This was not accurate. A month later he got a confirmation for the contract but it was at 3.6%. This fixed-indexed annuity offers a return of premium guarantee, a bailout on indexed strategies, and features early withdrawal charges that end after 10 years. All annuity guarantees are subject to the financial strength of the insurance company. I have called their numbers and waited hours for someone to answer the phone. Products issued by MassMutual Ascend Life Insurance Company, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual). For a complete product description, see the Product Overview in the Marketing Materials section below. They gave completely false projections of what we would have when we retire! The Social Security Disability 5 Year Rule eliminates the required waiting period to receive disability benefits for individuals who were previously entitled to benefits, ceased collecting them, and again become unable to work any time within 5 years. Possibly Great American sold to Mass Mutual their annuity program (my best guess last year in-2022). . That's all you need. Great American Life Unveils new Brand as MassMutual Ascend In the window that pops up, make sure Location is set to Allow or Ask. Well start sending you the news you need delivered straight to you. I have been attempting to contact MassMutual Ascend (MMA) since they acquired ***** last year. to learn more. Assets and Liabilities totals do not include amounts allocated to Separate Accounts. I called Mass mutual and they tell that my contract is with Mass mutual Ascend, not MassMutual and that they don't have any info on my contract. Q: If I withdraw more than the penalty-free amount, will a Market Value Adjustment (MVA) be applied? Have requested withdrawals and each time they ask for something different and now a notary for anytime I want my money. 3. As that money still sits you lose money. My Annuity Store, Inc., is a licensed fixed annuity producer and does not advise clients on the purchase of non-fixed annuity products. I opened an annuity on 10/06/2022. Guarantees are subject to the claims-paying ability of the insurer. Offer your clients flexibility with Safe Return. I am pending $8000.00 and I am scared I am being put off, scammed, or ignored. With long-term care and life insurance combinations, you can pay long-term care expenses. GET STARTED NOW Contact a financial professional Retirement products Annuities and IRA products Annuities can offer you guaranteed income for the rest of your life. Products issued by MassMutual Ascend Life Insurance Company, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual). Great American Life Unveils new Brand as MassMutual Ascend Theres no limit to the number of Roth IRA accounts you can have, but your contributions must stay within the annual limit across all accounts. 6 Corporate Dr, #550 Shelton, CT 06484. phone 203-513-6000; Connect with Us *Fields are required. Welcome Log in to access secure content and manage your business. Our review confirms that the complainant has a contract with MassMutual Ascend LifeInsurance Company not MassMutual. We value your privacy. She has a wonderful personality and most importantly has my best interests. This communication is in response to your email regarding the MassMutual Ascend LifeInsurance Company (formerly known as Great American Life Company) contract referenced inyour email.Our review shows that on October 6, 2022, MassMutual Ascend received a complaint from Mr.*******.As we previously explained to Mr. *******, in order to receive the Annuity Value the premiumpaid into the contract had to equal 4 times the sum of first year premiums by the 10th contractanniversary. Regards, Due to this lack ofadditional premium payments, when the Annuity Value and Surrender Value were set equal toeach other in the 10th year, the value of the entire contract became equal to the SurrenderValue.Mr. I would still not have my money if I had not been so persistant in my follow up. For any further questions about this matter, the owner may contactour Compliance Department representative at ###-###-####. A link has directed you to this review. Today is 11/07/2022, till date I have not received a contract. Now, Im 70 and ready to retire and cash out on our policy, but Mass Mutual is coming back to us saying that we owe THEM close to half a million dollars, because we didnt pay our premium, even though we have it on record that this was them who told us to do it. Course length: 45 minutes. Participation rates, spreads, and crediting rates can be changed without your permission. Choose your company wisely. Our Client Relations team can help! Annuities - MassMutual If you're still having trouble, please consult your browser's help page, or choose a city and state/province from the type ahead dropdown choices. MassMutual bought my annuity from Great American. They went over and above expectations. I don't have disability income insurance coverage. I am building a house and needed to pay contractors. However, thoserequirements are tied into federal tax regulations, which state that withdrawals from a taxqualified 403(b) contract prior to age 59 or a qualifying event will result in an applied taxpenalty. Company repeatedly states the client will receive full value upon separation from service. For the past 10 years I have been receiving my annuity payments via direct deposit into my bank without a hitch. MassMutual Ascend is committed to taking financial futures above and beyond. There is no means whatsoever of the client ever getting the full Account Value. Attached is our response to the above referenced case. I have filed a Claim for insurance as I am the beneficiary of my mother's policy. Apparently, not only did they not pay my sister but they stopped payment on our checks too. Other state licenses. Goals include protecting finances from the unexpected, planning for long-term care, and managing income in retirement. Meanwhile, they have the money with no statement or transaction showing it has not been paid and they have retained the money. The owner may also reach ourCompliance Department by fax at ###-###-####. Safe Return Reviewed | Annuity Resources Approved carriers include. Exellent service! *This company may be headquartered in or have additional locations in another country. It may be time to consider a registered index-linked annuity from MassMutual Ascend. Learn More Learn more about annuities Annuity terms to know How do annuities work? Guaranty Rate Lock Annuities - GILICO MassMutual Ascend has the right to change the terms of their index annuity at any time. Prior to establishing his independent firm, Jim operated a successful tax preparation service and managed information technology operations for a major financial services corporation. The 2010 NAIC Suitability in Annuity Transactions Model Regulation training is required in all states. With about a quarter trillion in invested assets, MassMutual couldnt care less about individual customers, even those with substantial investments with their company. Very incompetent response on their part. Jackson National Life Insurance Co. is a leader in the U.S. Product-specific training will also need to be completed for new products and major changes to an existing product. This includes: A one-time, four-hour state approved continuing education course;* and. Box 5420 Cincinnati, OH 45201-5420 Corporate Headquarters MassMutual Ascend 191 Rosa Parks Street Cincinnati, OH 45202 MassMutual Ascend SecureGain 5 Annuity Review - ImmediateAnnuities.com Our review shows that wespoke with the owner on December 5, 2022. Members and policy owners have voting rights, and participating policy owners may share in dividends. I now question how they obtain such impressive assets. I'm currently retired < CONTINUE.

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