A Single Premium Deferred Fixed Annuity - Blueprint Income

MassMutual Stable VoyageSMA Single Premium Deferred Fixed Annuity

TA B L E O F C O N T E N T S1A conservative way to grow your savings2Tax-deferred growth3Stable Voyage can help meet two goals5Planning for future income8Product highlightsNOT A BANK OR CREDIT UNION DEPOSIT OR OBLIGATION NOT FDIC OR NCUA INSURED NOT INSUREDBY ANY FEDERAL GOVERNMENT AGENCY NOT GUARANTEED BY ANY BANK OR CREDIT UNIONMassMutual Stable VoyageSM (Stable Voyage) is a single premium deferred fixed annuity issued by Massachusetts Mutual LifeInsurance Company (MassMutual ).

A conservative way togrow your savingsIf you’re looking for a conservative way to help grow your savings and providesteady income when you retire, you may want to consider including a deferredfixed annuity as part of your planning.Designed for the most conservative part ofyour portfolio, deferred fixed annuities offerunique features that help ensure stability as yoursavings grow and when you are ready to receiveretirement income. Stable Voyage offers: Guaranteed fixed interest rates. Interestrates are fixed and guaranteed for aspecific period of time; often, the rateis higher than the minimum guaranteed byyour contract. Steady growth. You can feel confidentknowing that your principal is protectedand will grow in value, provided you don’tmake withdrawals. Predictability. Interest rates are set for aspecific period of time, giving you greatercertainty as your savings accumulate. Thiscan also help you plan for the money you’llhave at the end of the term. Liquidity. Most contracts offer a freewithdrawal amount each year during theaccumulation phase. Although this amountis not subject to surrender charges,liquidated earnings are subject to incometax. Amounts withdrawn in excess ofthe free withdrawal amount are typicallysubject to surrender charges. Withdrawals,if made prior to age 59½, may be subject toan additional 10% federal income tax. Death benefit. If you die during theaccumulation phase of your annuitycontract, your beneficiary will receive adeath benefit. Any death benefit payableduring the annuity payout phase wouldbe based on the annuity payout optionyou select.1 The ability to generate income for life.Annuity options provide income for life,income for a specific period of time ora combination of both.2 As a contractowner, you would select the annuitypayout method that is right for you.A deferred fixed annuity is along-term asset accumulationproduct that can help grow yourassets on a tax-deferred basis,without exposure to stock marketrisk. When you’re ready, you canconvert those assets into a steadystream of income payments.1For qualified contracts, including custodial IRAs and Roth IRAs, we may be required to commute all or a portion of anyremaining payments in order to comply with required minimum distribution rules that apply after an Owner’s death.2Guarantees are based on the claims-paying ability of the issuing company.1

Tax-deferred growthIn addition to the stability of a fixed rate of interest, you enjoy the benefitsof tax deferral—your money grows free from current income taxes.3Through tax deferral, your money benefitsfrom compounded interest, which means: Your principal earns interest Your interest earns interestIn addition, the money otherwise paidin current income taxes continues toearn interest.As a result, the annuity has the potential togenerate a higher return on your moneythan a taxable financial product that alsooffers fixed interest rates.Taxes are paid on the earnings when withdrawnand, if made prior to age 59½, may be subjectto an additional 10% federal income tax.Surrender charges may also apply.A C C U M U L AT E D VA L U E 500,000 400,000 300,000 200,000 100,000 010 years20 years30 yearsYEARS INVESTEDFixed annuity before taxesFixed annuity after taxesCertificate of deposit (CD)4Assumptions: 100,000 initial purchase payment, 5% hypothetical annual rate of return and a 28% tax bracket. Thishypothetical example is intended to illustrate the advantages of tax deferral. It does not represent the performance ofany particular product. Surrender penalties are not included and had they been, results would have been lower. Be sure toconsider your personal retirement income horizon and income tax bracket, both current and anticipated, when makingyour financial decision as they may have an additional impact on the results of the comparison.3Tax deferral is automatically provided by tax-qualified retirement plans, including IRAs. There is no additional tax-deferralbenefit provided when a Stable Voyage deferred fixed annuity contract is used to fund a tax-qualified retirement plan or anIRA. Investors should only consider buying this contract in conjunction with a tax-qualified retirement plan or an IRA for theannuity’s insurance features such as lifetime income payments and death benefits.4 ACD is a short- or medium-term debt instrument offered by banks. CDs earn a fixed rate of interest, are taxed annually and areFDIC or NCUA-insured up to 250,000 per depositor. Generally, a CD must be held until its maturity date to avoid a penalty.2

Stable Voyage can helpmeet two goalsStable Voyage is designed to provide stability as you accumulate assetsfor retirement and when you are ready to turn those assets into futureguaranteed income.Accumulating andgrowing your assetsStable Voyage provides a guaranteed interestrate on the money that stays in your contract.The accumulation phase begins as soon as yourpurchase payment is applied to the annuitycontract. Stable Voyage is a single premiumannuity, so you cannot make multiplepurchase payments into the contract.Let’s take a closer look at how guaranteedinterest rates are credited.Initial guarantee period. You can choose aninitial guarantee period of three, four, or fiveyears. Generally, the longer the guaranteeperiod, the higher the interest rate will be.Renewal guarantee period. At the end of theinitial guarantee period, you can renew yourcontract for an additional period of one, three,four, or five years, if available at the time ofrenewal.5 Our flexible renewal option forthe one-year guarantee period allows you tochoose to move into longer-term periods atany point during that one year. If you chooseto renew into a new guarantee period, youcannot choose a period that is greater thanone year if it would extend beyond the oldestcontract owner’s maximum maturity date (age90 or 10 years after issue, whichever is later).A new, reduced surrender charge schedulebegins at this time for all renewal options longerthan one year. Learn more about surrendercharges on page 8.One-year safe-haven. The one-yearrenewal period can serve as a safe-havenperiod. This may be a good solution if you’renot ready to commit to one of the longerrenewal periods. During this time, your interestrate is guaranteed, and withdrawals are notsubject to surrender charges. You may renewinto subsequent one-year periods as manytimes as you wish. Interest rates may vary witheach renewal.Window period. As each guarantee periodapproaches its end, you have a 30-day windowduring which you must decide whether to: Renew into a new guarantee period ofthree, four, or five years, if available atthe time.5 A reduced surrender chargeperiod will begin. Renew into a one-year guarantee period.No surrender charge period will apply. Take a partial or full withdrawal. Nosurrender charge period will apply. Begin annuity payments. No surrendercharge period will apply.5 Contractowners in Florida who are age 65 or older at contract issue, and contract owners in Montana with a contract issuedate after 1/1/2018, may only choose the one-year guarantee period as a renewal option.3

Opportunity for higher interest ratesIf your purchase payment at issue or yourcontract value at renewal is 100,000or more, you may earn an enhancedinterest rate (if available at the time).Ask your financial professional foradditional information.4

Planning for the futureFunding theannuity contractYou can fund a Stable Voyage annuity contractby using a portion of your savings, or by rollingover assets from an individual retirementaccount (IRA) and/or an employer-sponsoredplan, such as a 401(k). The minimum purchasepayment is 10,000.Accessing fundsthrough deferralsKnowing your money is there if you need itcan help make your voyage a little smoother.During each contract year, you may withdrawup to 10% of your contract value, withoutincurring a surrender charge.6 This is calledthe free withdrawal amount. The freewithdrawal amount available to you iscalculated as follows: During the first contract year: Up toUnused free withdrawal amounts cannot beaccumulated from year to year.Any amounts withdrawn that exceed thefree withdrawal amount will be subject tosurrender charges. The surrender chargeperiod is based on the date your contract isissued. Surrender charges are assessed againstthe amount that you withdraw. The producthighlights on page 8 provide more details onsurrender charges.Required minimum distributions (RMD) —Qualifying RMD amounts for an IRA or aqualified plan that exceed the free withdrawalamount are not subject to surrender charges.Ask your financial professional if an RMDis applicable for your contract. If it is, thesurrender charge–free withdrawal amountavailable to you will be the greater of: 10% of your contract value. A single year’s RMD as calculatedfor your contract.10% of your contract value, calculatedat the time MassMutual processes thefirst withdrawal request. In subsequent contract years: Up to10% of your contract value, calculatedas of the last business day of theprevious contract year.6Taxes are paid on the earnings when withdrawn and, if made prior to age 59½, may be subject to an additional 10% federalincome tax.5

Selecting anannuity option Period Certain. Payments are made for aguaranteed period of time (at least fiveand no more than thirty years). Uponthe annuitant’s death, payments willcontinue to the named beneficiary forthe remainder of the guarantee period.With this annuity option only, theperiod may be lengthened or shortenedafter the first contract year, subject tocertain restrictions.Annuity payments can provide a guaranteedincome for life, for a specific period of time ora combination of both. The best choice for youwill depend on a variety of factors. These mayinclude whether you need income for one lifeor two (a spouse) and whether leaving moneyto a beneficiary is important to you. Lifetime Income with Period Certain.The following annuity options are availablewith Stable Voyage7:This option provides longevityprotection because it guaranteesincome you can't outlive. Income isguaranteed for a specific period of time(five, ten or twenty years) or for the lifeof the annuitant, whichever is longer. Single Life. Payments are made for aslong as the annuitant is alive and endupon his or her death. Joint and Survivor Life. Payments are Joint and Two-Thirds Survivor Life withmade for as long as the annuitant orjoint annuitant is alive. All payments endupon the death of both annuitants.Reducing Payments at Death. Thesurviving annuitant will receive reducedpayments for as long as he or she lives.Reductions will be two-thirds of theoriginal payment amount.76For qualified contracts, upon the death of the owner(annuitant if the contract is held as a Custodial IRA), wemay shorten the remaining payment period in order toensure that payments do not continue beyond the 10year post-death distribution period provided under IRCsection 401(a)(9), or beyond the beneficiary’s life or lifeexpectancy for certain classes of beneficiaries, such asa spouse or an individual who is not more than 10 yearsyounger than the decedent. In such a case, the adjustedpayment stream will be calculated by first calculating thecommuted value of the remaining payments, and thencalculating an actuarially equivalent payment streamover the revised period, using the same rate used in thecommutation calculation.