Key features and who it’s best for
- Investment choices
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Envision offers a variety of investment options, including stock, bond, and specialty funds.
- RetirePay rider
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The RetirePay rider, available for an additional fee, guarantees a lifetime income stream irrespective of market conditions. It does have limitations on investments and excessive withdrawals can impact the guarantee.
- Withdrawals
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Envision provides free withdrawal options up to 10 percent per year, with 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 withdrawals.
- Fees
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Envision, like most variable annuities, comes with several annual fees, including 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 offers more growth potential compared to MassMutual’s other offerings, but it also involves market risk and higher fees. Potential investors should proceed with caution.