American Legend 7
MassMutual Ascend Life Insurance Company
14%
Best Cap
10%
Free W/D
50
States
American Legend 7 is a 7-year fixed-indexed annuity that combines market-linked growth potential with downside protection through guaranteed minimums, designed for investors seeking income and principal safety across multiple account types.
Free Withdrawal
10%/yr
Available In
50 states
Min Premium
$10,000
Surrender
7 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| First Trust Barclays Edge Index | Annual | 14% | 100% | -- |
| iShares US Real Estate ETF | Annual | 12% | 100% | -- |
| S&P 500 Average Daily Risk Control Price Return Index | Annual | -- | 75% | -- |
| S&P 500 Index | Annual | 9% | 100% | -- |
| SPDR Gold Shares | Annual | 12% | 100% | -- |
| S&P U.S. Retiree Spending Total Return Index | Annual | -- | 70% | -- |
| Fixed Account | Daily | -- | -- | 3.95% |
Key Features
Guaranteed Minimum Surrender Value (GMSV)
87.5% + minimum guaranteed interestYour account is guaranteed to be worth at least 87.5% of all purchase payments plus daily credited interest at a minimum guaranteed rate, less withdrawals and charges
Seven-Year Term
9% declining over 7 yearsThe contract has a 7-year surrender charge period with declining early withdrawal charges starting at 9%
Multiple Index Strategies
9 different crediting strategies availableChoose from declared rate, S&P 500 options, gold, real estate, dividend indices, and risk-controlled strategies
Penalty-Free Withdrawals
10% annually penalty-freeWithdraw 10% of purchase payments in year one; after first anniversary, withdraw 10% of account value without surrender charges
Included Riders
100% account value benefitExtended Care and Terminal Illness riders included at no extra cost, each providing 100% account value access when criteria are met
Account Type Flexibility
Ages 0-85; inherited ages 0-75Qualified accounts (403(b), traditional/Roth IRA, SIMPLE, 457(b)) and non-qualified accounts, plus inherited IRAs and non-qualified accounts
Payout Options
4 payout structures availableChoose from fixed period, life-only, life with period guarantee, or joint-and-survivor payout options at annuitization
Market Value Adjustment (MVA)
Applies during 7-year termAdjustments apply to early withdrawals and surrenders during the 7-year term based on interest rate changes (not available in all states)
Highlights
Fixed-indexed annuity with multiple index strategies including S&P 500, gold, real estate, and dividend indices
Guaranteed Minimum Surrender Value (GMSV) protects 87.5% of purchase payments plus daily credited interest
Flexible penalty-free withdrawals: 10% annually during first year, then 10% of account value after first anniversary
Included riders for Extended Care and Terminal Illness providing 100% account value access when criteria met
Works with qualified and non-qualified retirement accounts including 403(b), IRA, 457(b), and inherited accounts
Surrender Schedule
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Nursing home waiver, Terminal illness waiver
Best For
Investors age 0-85 seeking a balance between market-linked growth and principal protection, particularly those with retirement accounts (qualified or non-qualified) who want guaranteed minimums and predictable penalty-free access to funds.
Consider Alternatives If
Investors who need immediate or frequent access to their full account value without surrender charges, or those with a time horizon shorter than 7 years.
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