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Fixed Indexed Annuity

Index Protector 5 MVA

MassMutual Ascend Life Insurance Company

11.5%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual cap rate

11.5% cap on S&P 500

A market-value-adjusted fixed indexed annuity from a dual-agency-rated US carrier, accepting an MVA mechanism on surrenders in exchange for a higher published S&P 500 cap than no-MVA siblings, with volatility-controlled and international named-ETF crediting alternatives.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation-focused buyers who want the higher S&P 500 cap the MVA mechanism enables, who do not expect to take large partial surrenders beyond the free-withdrawal allowance, and who are comfortable letting the MVA adjust the surrender amount if interest rates move before maturity.

AM Best

A++ Superior

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

11.5% cap rate

Rate varies by premium band.

Fixed Account

Fixed Account

5% declared rate

Rate varies by premium band.

+ 7 volatility-controlled index options (S&P 500, iShares US, S&P U.S....)

Product analyst notes

How to think about this contract

Why it can stand out

  • Market value adjustment (MVA) is built into the contract — the carrier accepts an MVA mechanism on surrenders above the free-withdrawal allowance in exchange for a published S&P 500 cap that runs materially higher than the no-MVA sibling Index Protector 7. Buyers willing to absorb interest-rate-driven adjustment risk get a higher headline cap as the trade.
  • A.M. Best Superior plus Standard & Poor's Strong — dual-agency financial-strength corroboration on the carrier, rather than a single-source rating.
  • Crediting menu pairs a recognizable S&P 500 annual point-to-point cap with volatility-controlled indexes (S&P 500 Average Daily Risk Control, S&P U.S. Retiree Spending) and an iShares MSCI EAFE international option — buyers can hold a like-for-like S&P comparison option alongside lower-volatility and international alternatives inside one contract.
  • Free-withdrawal allowance and the standard waivers (nursing-home and terminal-illness) are visible on this page rather than gated behind a sales brochure.

What to confirm

  • This is NOT a guaranteed-lifetime-withdrawal product. The live feed shows no income riders attached. A buyer who wants a contractually guaranteed lifetime payout from a GLWB needs a different contract — Index Protector 7 carries the rider option, or look at American Legend 7 / AssuranceSelect 7 Plus / Premier Income Bonus.
  • The MVA mechanic means a surrender above the free-withdrawal allowance is not the same as a clean account-value withdrawal — interest rates at the time of surrender drive the adjustment up or down, which can materially change the amount actually received. Confirm with the carrier how the MVA is computed before any planned partial surrender.
  • The volatility-controlled indexes (S&P 500 Average Daily Risk Control, S&P U.S. Retiree Spending) and the First Trust Barclays Edge Index are proprietary strategies targeting a controlled return profile; their headline rates look different from the standard S&P 500 cap but the underlying index is structurally different — evaluate each on its own merits and back-tested behavior.
  • Caps and participation rates reset at the carrier's discretion at renewal under guaranteed-minimum floors well below current headline rates, so the published cap is a current-period figure, not a five-year guarantee.

Not ideal for

Buyers who need a contractually guaranteed lifetime withdrawal rate from a GLWB rider, who plan to take materially large early surrenders and do not want interest-rate-driven MVA adjustments to the amount received, or who prefer the no-MVA Index Protector 7 sibling at the lower published cap — none of those are what this MVA filing is built to deliver.

All crediting strategies

View rate listings (18 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 90% · 1-yr

S&P 500 Average Daily Risk Control Price Return Index

participation

Up to $249,999.99

Par: 90% · 1-yr

S&P U.S. Retiree Spending Total Return Index

participation

Up to $249,999.99

Par: 90% · 1-yr

S&P 500 Average Daily Risk Control Price Return Index

Up to $249,999.99

Par: 90% · 1-yr

S&P U.S. Retiree Spending Total Return Index

Up to $249,999.99

Cap: 16.5% · 1-yr

iShares US Real Estate ETF

cap

Up to $249,999.99

Cap: 16.5% · 1-yr

iShares US Real Estate ETF

Up to $249,999.99

Cap: 13.75% · 1-yr

iShares MSCI EAFE ETF

cap

Up to $249,999.99

Cap: 13.75% · 1-yr

iShares MSCI EAFE ETF

Up to $249,999.99

Cap: 11.5% · 1-yr

S&P 500 Index

cap

Up to $249,999.99

Cap: 11.5% · 1-yr

S&P 500 Index

Up to $249,999.99

Fixed: 5% · 1-yr

Fixed Account

fixed

Up to $249,999.99

Fixed: 5% · 1-yr

Fixed Account

Up to $249,999.99

Cap: 16.5% · 1-yr

First Trust Barclays Edge Index

cap

Up to $249,999.99

Cap: 16.5% · 1-yr

First Trust Barclays Edge Index

Up to $249,999.99

Fixed: 5% · 5-yr

Locked Cap Strategy

Locked Cap Strategy · fixed

Up to $249,999.99

Fixed: 5% · 5-yr

Locked Cap Strategy

Locked Cap Strategy

Up to $249,999.99

Cap: 16.25% · 5-yr

First Trust Barclays Edge Index

Locked Cap Strategy · cap

Up to $249,999.99

Cap: 16.25% · 5-yr

First Trust Barclays Edge Index

Locked Cap Strategy

Up to $249,999.99

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit - GMSV

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 2.40%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 2.40%

Strategy guarantee

Minimum guaranteed participation: 5.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 0

0%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

product guide

b1140719nw.pdf

Confidence: highReviewed Apr 4, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA++
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Index Protector 5 MVA currently shows 9 distinct indexed or fixed crediting choices across 18 current rate listings, including S&P 500 Index, S&P 500 Average Daily Risk Control Price Return Index, and Fixed Account, with 6 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 11.5% cap
  • S&P 500 Average Daily Risk Control Price Return Index: 90% participation
  • Fixed Account: 5% fixed

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as b1140719nw.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 8, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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