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September 08, 2008 at 11:30 AM
Massachusetts Mutual Life Insurance Company says it has improved the guaranteed minimum income benefit riders sold along with its MassMutual Transitions Select and MassMutual Evolution variable annuity contracts.
MassMutual, Springfield, Mass., says it has increased 3 age limits associated with the MassMutual Guaranteed Income Plus 5 and MassMutual Guaranteed Income Plus 6 GMIB options.
The rider maximum issue and reset ages have increased 5 years, to age 80, MassMutual says.
The maximum exercise age also has increased 5 years, to 90, the company says.
