Massachusetts Mutual Life Insurance Company has reopened the Panorama Passage variable annuity contract for new business.
The Panorama contract comes with no contingent deferred sales charge, according to MassMutual, Springfield, Mass.
The contract offers a choice of 40 investment options and an automatic portfolio rebalancing feature. Separate account annual expenses are set to fall after 10 years.
The annuity is aimed at investors preparing for retirement who want to have easy access to cash, MassMutual says.
MassMutual also is reducing total separate account charges for the MassMutual Transitions Select and MassMutual Evolution deferred variable annuity contracts by 0.1 percentage points.