MassMutual Annuities Reviews

Per financial advisor, I signed up with MassMutual Annuity RetireEasy, so far it is anything but EASY, and monthly payment late. I would NOT recommend this company to anyone. Called them and it appears their support rep are used to these type of calls and immediately said it is clearly stated in the contract. She said could be anywhere from 2-4 four business days for direct deposit.

They could not care less about their clients (like me). I had a tremendously incompetent agent who screwed so much up that it created a significant IRS issue for me. And, in the middle of the chaos, the agent “left.” So bad that I filed a complaint with Banking in their state as well as the consumer watchdog group.

I called their company and would like to withdraw my money when the contract is mature. I signed the contract sometime 1/7/2020 with Great America and they sold it to MassMutual and mature this month. I am not sure exactly what date it is mature. So I called them and they sent me forms to fill out. I filled out the forms and stated that I want to surrender in full when mature. Today, they sent me a check and stating that there is 5000 early withdrawal penalty. I called my agent when I signed the contract 5 years ago to see if she can fix this ridiculous transaction. I hope I don't have to resort to legal action. After 5 years my investment on 100K is 110K. However, they charged me early withdrawal for 5000. I have a check of 105000. I wish there is negative star on the review!!!

I would avoid MassMutual Annuities. I bought one 6 years ago and chose the EFT payment option for the first of the month. Since then each month it has been a guessing game as to when I am going to get my annuity payment. It has never come on the 1st, that is when they send the payment. And if the 1st is a Saturday, then it is not sent until the 3rd. Then it takes 2-3 days for the money to show up in your account. I have another annuity through Transamerica Life. They send the annuity payments before the weekend if the 1st falls on Sat or Sunday. Plus they seem to be able to move money within 24 hours whereas MassMutual takes 48-72 hours. This month it is the 4th and I am still waiting!

I did not receive my Pension Check 1/1/2024. I tried contacting MassMutual but all phone numbers are busy or not connected therefore I have no way of contacting them. Email won't work because they want a account number which I don't have. Their website says they paid January but my bank said there was no notice of deposit from them. There is no way of contacting them. I'm stuck without a pension check, can't get an explanation as to why. Not even a main corporate phone number that I can find. I live from paycheck to paycheck and this is going to affect me seriously. Not happy.

MassMutual is one of the least technically savvy companies I have ever dealt with and they do not live up to their fiduciary responsibilities. I purchased an annuity through this company. When the annuity matured and I wanted to cash out it took three weeks for them to send me a check! By USPS mail! Meanwhile they continued to earn interest on my money. Do yourself a favor and invest with companies that do money transfers electronically. Don't be fooled by the fake 5 star reviews posted six or seven years ago. The company had a incentive program for customers to post glowing reviews.

My family aided our 90 year old uncle with his annuities. His TIAA Creff annuities were coming due to annuitize. He wanted to roll them over. Mass Mutual had a product for a 90 year old at 4.25%. He signed the contract. A month later he got a confirmation for the contract but it was at 3.6%. He noticed it and called immediately. Meanwhile I noticed that the original contract failed to mention any % rate anywhere in the contract. Customer service agreed that they saw no % in contract. We may have to litigate to clear this up. Their"BEST" ratings are for having plenty of money. I now question how they obtain such impressive assets.

I received a response to a letter that I sent to MassMutual Ascend on 31 January 2023. However, the response was dated 13 September 2022, and was a copy of a letter I received from their previous company, Great American Life. I tried to call the customer service number 800-854-3649, but after working through multiple prompts, was told that I would receive a callback. Three hours later, I tried again and was told by an automated response that I would have a five minute wait. Thirty-five minutes later, I gave up. I then attempted to go to their website for help, but to establish an account required two factor authentication, which can only be done thru the same customer service phone number that I cannot get a response! I believe my only recourse is snail mail.

I bought a 3 year annuity through my fidelity account. I requested a free withdrawal. There was a problem. They withdrew the money from my account. The check may be lost and 12 k $ is missing. Calling them has been an exercise in aggravation and futility. Meanwhile, they have the money with no statement or transaction showing it has not been paid and they have retained the money.

We have a MassMutual annuity with a withdrawal feature. The ability to periodically withdraw funds was the primary reason for our purchase. Unfortunately, like some other reviewers, we found that when we attempted to withdraw funds, MassMutual would do everything in their power to delay payment. We recently experienced a situation whereby MassMutual debited the annuity account and then failed to deliver the funds for over five (5) weeks. This unethical and unscrupulous business practice no doubt allows MassMutual to retain millions in interest each year. MassMutual’s Customer Service representatives were rude, unhelpful and unprofessional. Instead of rectifying their mishandling of funds, they suggested that the payment delays were due to a failure on our part to provide the appropriate documentation, a suggestion that was (and is) patently false, as proven by our own records.