At a glance
- The Cincinnati-based insurer, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Co., offers Cap Control on select indexed strategies.
- A tighter band shields clients from a steep cap cut at renewal but also limits how much the cap can climb when conditions would support a richer rate.
- MassMutual Ascend's RILA business has passed $5 billion in lifetime sales, Dave Mebius said.
MassMutual Ascend launched Cap Control, a registered index-linked annuity (RILA) feature that sets a range around a strategy's initial cap rate, limiting how far the cap can move at renewal, InvestmentNews reported. The Cincinnati-based insurer, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Co., offers Cap Control on select indexed strategies.
A tighter band shields clients from a steep cap cut at renewal but also limits how much the cap can climb when conditions would support a richer rate.
MassMutual Ascend's RILA business has passed $5 billion in lifetime sales, Dave Mebius said. Mebius, vice president of national accounts, said the feature responds to advisor feedback and gives advisors more confidence in renewal conversations.
Advisors get a stated range instead of a renewal surprise, which simplifies explaining a RILA's ceiling but makes the initial band the number to compare across carriers. MassMutual Ascend has also crossed $2 billion in lifetime advisory annuity sales through more than 1,700 investment advisor representatives.
Reported by the Products & portfolios desk from InvestmentNews. Published . Corrections