Massachusetts Mutual Life Insurance Company has cut the cost of a death benefit rider sold with 2 deferred variable annuities. [@@]
The company lowered the cost of its optional annual ratchet death benefit feature for both its Transitions Select and Evolution deferred VA contracts by 0.10%, to an annualized current charge of 0.40%.
The charges are imposed on the daily value of assets invested in each fund, after fund expenses are deducted.
MassMutual, Springfield, Mass., says such charges will not exceed 0.90% of asset value.