Please note:

Great American’s Annuity businesses have been sold to MassMutual, effective May 28, 2021. If you are a current customer, you can continue to find account information by logging into the secured website or by calling Customer Service at 800-854-3649. You may also contact your financial professional.
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Simply put, an annuity is a contract between you and an insurance company. It is designed to protect and grow your money, and then provide a stream of income during your retirement. In fact, other than pensions, annuities are the only products that provide guaranteed lifetime income.

How do annuities work?

  1. You purchase an annuity by making a payment to an insurance company.
  2. Your annuity can grow over time.
  3. When you're ready to start receiving retirement income, your annuity is turned into a steady stream of income payments.

Annuity advantages

Here are some reasons you might want to consider purchasing an annuity

  • Protection and growth: You want to grow your money while protecting all or some of it from loss.
  • Tax-deferral: You want to take advantage of tax-deferred growth.
  • Retirement income: You want to turn the money you’ve saved into a regular paycheck for a specified number of years or for life.
  • Death benefit: You’re looking for an efficient way to leave a legacy for your loved ones.

What an annuity isn't

As you consider if an annuity is right for you, it’s important to keep in mind that an annuity is:

  • Not ownership of shares of any individual stock, index fund or mutual fund
  • Not a bond or a certificate of deposit (CD)
  • Not insured by the FDIC, like a bank CD or a checking or savings account, or by any federal government agency, or guaranteed by a bank or credit union. Annuity guarantees are backed by the financial strength of the issuing insurance company.
  • Not available for "instant access" like a bank account. While a portion of your money is available each year for a penalty-free withdrawal, an annuity should be used as part of your long-term retirement plan.

Simple is Great

At Great American Life, we understand the importance of a secure retirement. That’s why we are committed to simplifying your path to financial security with annuities that are easier to understand and superior service every step of the way.

Do you have questions about the MassMutual sale?

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Retirement Tools & Resources

Find Tools & Resources to help secure your financial future.

Types of Annuities

Grow your annuity based on the performance of an external index, while protecting against market declines.

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Grow your annuity at a fixed rate that is guaranteed for a specified period of time.

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Grow your annuity based on the performance of an external index, and choose a level of protection from market declines.

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Grow your annuity through the performance of underlying subaccounts that you select.

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Turn your money into an immediate stream of income.

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A solution for businesses that want to transfer their pension risk.

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