BOSTON--(BUSINESS WIRE)--Fidelity Investments today announced the broadening of its deferred income annuity platform with a new product to help pre-retirees create future lifetime income. Investor demand for strategies and products that provide guaranteed lifetime income is increasing, driven by a greater reliance on creating income from personal savings.
“Expanding our deferred income annuity offering to include another leading U.S. annuity provider in MassMutual further reinforces Fidelity’s focus on providing investors with a choice of lifetime income solutions.”
MassMutual RetireEase ChoiceSM1 becomes the second deferred income annuity in the Fidelity Insurance Network (FIN) portfolio, joining New York Life’s Guaranteed Future Income Annuity II2. Ideal for investors approaching retirement, MassMutual RetireEase Choice offers predictable, guaranteed lifetime income beginning on a future date the investor selects. By purchasing a deferred income annuity several years before retirement, investors have the potential to generate higher guaranteed future lifetime income, while reducing some market risk from their overall portfolio during the years before they retire.
“As part of a diversified plan, deferred income annuities enable individuals to take more control of their personal economy by creating a future stream of guaranteed income now,” said Brett Wollam, senior vice president, Fidelity Investments Life Insurance Company®. “Expanding our deferred income annuity offering to include another leading U.S. annuity provider in MassMutual further reinforces Fidelity’s focus on providing investors with a choice of lifetime income solutions.”
Education and Resources for Investors
To help investors determine whether a deferred income annuity can help meet their individual needs and understand how it can fit into their overall retirement income plan, Fidelity has content available on Fidelity.com. This includes a new educational video and brochure that explain how the product works.
For additional information about annuity investing and guidance on retirement income planning, investors may call 866-450-3909, visit one of Fidelity’s 180 investor centers across the United States, or visit: www.fidelity.com/annuities.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.9 trillion, including managed assets of $1.7 trillion, as of December 31, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
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1 MassMutual RetireEase Choice [Contract form #FPDIA12, ICC12-FPDIA12,] is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.
2 For most jurisdictions, the policy form number for the New York Life Guaranteed Future Income Annuity II is ICC11-P101 (it may be 211-P101 and state variations may apply).