# EDGAR Filing Document

**Accession Number:** 0000723258
**File Stem:** 0001193125-25-183987
**Filing Date:** 2025-8
**Character Count:** 886678
**Document Hash:** f652f0f8c86c93b9c1a5c6939beba119
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-183987.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001193125-25-183987

**CONFORMED SUBMISSION TYPE**: 485APOS

**PUBLIC DOCUMENT COUNT**: 30

**FILED AS OF DATE**: 20250820

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MASSMUTUAL ASCEND LIFE INSURANCE CO
- **CENTRAL INDEX KEY:** 0000723258
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 131935920
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485APOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-276475
- **FILM NUMBER:** 251235982

**BUSINESS ADDRESS:**
- **STREET 1:** 191 ROSA PARKS STREET
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202
- **BUSINESS PHONE:** 513-361-9462

**MAIL ADDRESS:**
- **STREET 1:** 191 ROSA PARKS STREET
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GREAT AMERICAN LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 19830712

## Series and Classes Contracts Data

### MASSMUTUAL ASCEND LIFE INSURANCE CO (Series ID: S000090810)

| Class ID   | Class Name                                                      | Ticker Symbol   |
|:---|:---|:---|
| C000261635 | Index Summit 6 Pro Annuity with Death Benefit Return of Premium |  |

**As filed with the Securities and Exchange Commission on August 20, 2025** 

**Registration No. 333-276475** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM N-4** 

**REGISTRATION STATEMENT** 

***UNDER***

---

| | |
|:---|:---|
| ***THE SECURITIES ACT OF 1933*** |  |
| **Pre-Effective Amendment No.** | ☐ |
| **Post-Effective Amendment No. 5** | ☒ |

---

**(Check appropriate box or boxes.)**![LOGO](g947355g0820074821317.jpg)

## MassMutual Ascend Life Insurance Company
**(Name of Insurance Company)** 

**191 Rosa Parks Street, Cincinnati, Ohio 45202** 

**(513) 361-9000** 

**(Address of Insurance Company's Principal Executive Offices) (Zip Code)** 

**John P. Gruber** 

**MassMutual Ascend Life Insurance Company** 

**191 Rosa Parks Street, Cincinnati, Ohio 45202** 

**(513) 361-9000** 

**(Name, Address, including zip code, and telephone number, including area code, of Agent for Service)** 

Approximate Date of Proposed Public Offering: Continuously after the registration statement becomes effective.

**It is proposed that this filing will become effective (check appropriate box):** 

☐ immediately upon filing pursuant to paragraph (b)

☐ on (date) pursuant to paragraph (b)

☐ 60 days after filing pursuant to paragraph (a)(1)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☒ on November 1, 2025 pursuant to paragraph (a)(1) of rule 485 under the Securities Act of 1933
("Securities Act").

**If appropriate, check the following box:** 

☐ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

**Check each box that appropriately characterizes the Registrant:** 

☐ New Registrant (as applicable, a Registered Separate Account or Insurance Company that has not filed a Securities Act registration statement or amendment thereto within 3 years preceding this filing)

☐ Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 ("Exchange Act"))

☐ If an Emerging Growth Company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☒ Insurance Company relying on Rule 12h-7 under the Exchange Act

☐ Smaller reporting company (as defined by Rule 12b-2 under the Exchange Act)

------

**The information in this prospectus is not complete and may be changed. We may not sell these securities using this prospectus until the amended registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.** 

**MASSMUTUAL ASCEND LIFE INSURANCE COMPANY** 

Administrative Office: P.O. Box 5423, Cincinnati OH 45201-5423

Street Address: 191 Rosa Parks Street, Cincinnati OH 45202

Policy Administration: 1-800-789-6771

**INDEX SUMMIT 6 PRO ANNUITY** 

**With Death Benefit Return of Premium Guarantee** 

**PROSPECTUS DATED MAY 1, 2025** 

**As Amended November [ ], 2025** 

The Index Summit 6 <sup>®</sup> Pro annuity is an Individual Index-linked Modified Single Premium Deferred Annuity contract issued by MassMutual Ascend Life Insurance Company ("MassMutual Ascend Life" or the "Company"). It provides that we will pay the Annuity Payout Benefit to you in exchange for your Purchase Payments. It also provides a Death Benefit that will never be less than the Death Benefit Return of Premium Guarantee.

**The Contract is a modified single premium deferred annuity. This means we will accept Purchase Payments only during the Purchase Payment period, which ends two months after your Contract Effective Date.** 

A glossary of defined terms used herein can be found in the Special Terms section starting on page 4 of this prospectus.

**The Contract is a complex investment and involves risk, including potential loss of principal and prior earnings.** The Contract offers you the opportunity to allocate Purchase Payments to Indexed Strategies that credit returns at the end of a 1-year, 2-year, 3-year, or 6-year period (Term) based, in part, on the rise or fall of an Index, which may be a market index, such as the S&P 500 Index, or the share price of an exchange-traded fund, such as an iShares ETF, by comparing the change in the Index value from the first day of the Term to the last day of the Term. However, this Contract does not directly participate in any equity, debt, or other investments. **See "Appendix A: Investment Options Available Under the Contract" for additional information about each Indexed Strategy.**

**Each Indexed Strategy provides limited protection from negative Index returns through a Negative Return Factor. At the end of a Term:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **for a 10% Buffer Strategy, you could lose up to 90% of your original principal and prior earnings;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **for a 20% Buffer Strategy, you could lose up to 80% of your original principal and prior earnings;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **for a -10% Floor Strategy, you could lose up to 10% of your original principal and prior earnings; and** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **for a Downside Participation Rate Strategy, you could lose up to 50% of your original principal and prior earnings.** 

**Positive Return Factors may limit the amount you can earn on an Indexed Strategy. Positive return factors can change from one Term to the next, subject to the following minimum rates: The Cap for a Term will never be lower than 1%, the Upside Participation Rate for a Term will never be lower than 5%, and the Trigger Rate for a Term will never be lower than 1%.** 

**We may stop offering any Indexed Strategy at the end of a Term; however, we will always offer the S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.** 

**Daily Value Percentage.** Before the end of a Term if, you take a withdrawal, Surrender or annuitize the Contract, elect a Performance Lock, or a Death Benefit becomes payable, the value of an Indexed Strategy is determined using the Daily Value Percentage. The Floor, Buffer, or Downside Participation Rate do not apply to the Daily Value Percentage, and the value of an Indexed Strategy based on the Daily Value Percentage may experience losses that exceed the Floor, or that do not receive the benefit of the Buffer, or that exceed the Downside Participation Rate.

**In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would lose 100% of your principal and prior earnings.** 

In addition, the ongoing deduction of the Daily Charge will reduce Indexed Strategy value, and this reduction could also cause a loss to exceed the loss protection provided by the Negative Return Factor.

The Contract is not a short-term investment. The Contract and its Indexed Strategies are not appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years or who plan to take withdrawals from Indexed Strategies before the end of a Term. Withdrawals could result in Early Withdrawal Charges and negative Daily Value Percentage adjustments. Withdrawals could result in taxes, and if you are under age 59<sup>1</sup>⁄<sub>2</sub>, a penalty tax.

------

If a Contract is purchased as a Tax-Qualified Contract, such as an Individual Retirement Annuity ("IRA"), it does not provide tax deferral benefits beyond those already provided under the Internal Revenue Code. Amounts withdrawn from the Contract may be taxable, and, if you are under age 59<sup>1</sup>⁄<sub>2</sub>, amounts you withdraw from the Contract may also be subject to a 10% federal tax, in addition to any other state and federal income tax payable. Investors should consult with their tax advisor for more information.

**If you are a new investor in the Contract, you may cancel your Contract within 20 days after you receive it. If you purchase a Contract to replace an existing annuity contract or insurance policy, you have 30 days to cancel the Contract. The right to cancel period may be longer in some states. Upon cancellation, in most states you will receive a full refund of the amount you paid for the Contract. In some states, you will receive your total Account Value as calculated using the Daily Value Percentage, plus fees and charges, which may be more or less than the amount you paid for the Contract. The right to cancel is described more fully in the Right to Cancel section of this prospectus. You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.** 

**\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*** 

**All guarantees under the Contract are the obligations of MassMutual Ascend Life and are subject to the credit worthiness and claims-paying ability of MassMutual Ascend Life.** 

**\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*** 

**The Contract is not insured by the FDIC (Federal Deposit Insurance Corporation) or the NCUSIF (National Credit Union Share Insurance Fund). Although the Contract may be sold through relationships with banks or other financial institutions, the Contract is not a deposit or obligation of, or guaranteed by, such institutions or any federal regulatory agency.** 

**\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*** 

**NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.** 

**Additional Information about certain investment products, including index-linked annuities, has been prepared by the Securities and Exchange Commission and is available at <u>Investor.gov</u>.** 

**\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*** 

This prospectus is not an offering in any state, country, or jurisdiction in which we are not authorized to sell the Contract.

------

**Table of Contents** 

---

| | |
|:---|:---|
|  [SPECIAL TERMS](#pro_rop947355_1) | 4.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Special Terms Related to Daily Value Percentage](#pro_rop947355_2) | 7.0 |
|  [OVERVIEW OF THE CONTRACT](#pro_rop947355_3) | 9.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purpose](#pro_rop947355_4) | 9.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Accumulation Period](#pro_rop947355_5) | 9.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Annuity Payout Period](#pro_rop947355_6) | 10.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#pro_rop947355_7) | 10.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Daily Value Percentage Adjustment](#pro_rop947355_8) | 11.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT](#pro_rop947355_9) | 12.0 |
|  [FEE TABLE](#pro_rop947355_10) | 18.0 |
|  [PRINCIPAL RISKS OF INVESTING IN THE CONTRACT](#pro_rop947355_11) | 18.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Market Risk](#pro_rop947355_12) | 18.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Early Withdrawal Risk](#pro_rop947355_13) | 19.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Indexed Strategies Risk](#pro_rop947355_14) | 19.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Regulatory Risk](#pro_rop947355_15) | 28.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Insurance Company Risk](#pro_rop947355_16) | 28.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Business Disruption and Cybersecurity Risks](#pro_rop947355_17) | 28.0 |
|  [BENEFITS AVAILABLE UNDER THE CONTRACT](#pro_rop947355_18) | 29.0 |
|  [CHARGES AND ADJUSTMENTS](#pro_rop947355_19) | 30.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Daily Charge](#pro_rop947355_20) | 30.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Early Withdrawal Charge](#pro_rop947355_21) | 30.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Free Withdrawal Allowance](#pro_rop947355_22) | 31.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Early Withdrawal Charge Waivers](#pro_rop947355_23) | 31.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Automated Withdrawal Program Charges](#pro_rop947355_24) | 32.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium and Other Taxes](#pro_rop947355_25) | 32.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Daily Value Percentage Adjustment](#pro_rop947355_26) | 32.0 |
|  [PURCHASING THE CONTRACT](#pro_rop947355_27) | 33.0 |
|  [INITIAL STRATEGY SELECTIONS](#pro_rop947355_28) | 35.0 |
|  [STRATEGY SELECTIONS AT TERM END](#pro_rop947355_29) | 35.0 |
|  [DEFAULT STRATEGY ALLOCATIONS](#pro_rop947355_30) | 37.0 |
|  [INDEXED STRATEGIES](#pro_rop947355_31) | 38.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Term](#pro_rop947355_32) | 40.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Investment Base](#pro_rop947355_33) | 41.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Indexed Strategy Value](#pro_rop947355_34) | 42.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Positive Return Factors](#pro_rop947355_35) | 42.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Negative Return Factors](#pro_rop947355_36) | 45.0 |

---

---

| | |
|:---|:---|
|  [INDEXED STRATEGY VALUE AT END OF TERM](#pro_rop947355_37) | 45.0 |
|  [INDEXED STRATEGY VALUE BEFORE END OF TERM](#pro_rop947355_38) | 49.0 |
|  [INDEXED STRATEGY VALUE AFTER PERFORMANCE LOCK<br>ELECTION](#pro_rop947355_39) | 50.0 |
|  [INDEXES](#pro_rop947355_40) | 55.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [S&P 500 Index](#pro_rop947355_41) | 55.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [SPDR Gold Shares ETF](#pro_rop947355_42) | 55.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [iShares MSCI EAFE ETF](#pro_rop947355_43) | 55.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [iShares U.S. Real Estate ETF](#pro_rop947355_44) | 56.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [First Trust Barclays Edge Index](#pro_rop947355_45) | 56.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Russell 2000 Index](#pro_rop947355_46) | 56.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Historical Index Returns](#pro_rop947355_47) | 57.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Index Replacement](#pro_rop947355_48) | 60.0 |
|  [ACCESSING YOUR CONTRACT VALUES](#pro_rop947355_49) | 62.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Benefit](#pro_rop947355_50) | 62.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Annuity Payout Benefit](#pro_rop947355_51) | 63.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Death Benefit](#pro_rop947355_52) | 64.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Options](#pro_rop947355_53) | 67.0 |
|  [PROCESSING PURCHASE PAYMENTS AND REQUESTS](#pro_rop947355_54) | 69.0 |
|  [OWNER](#pro_rop947355_55) | 71.0 |
|  [ANNUITANT](#pro_rop947355_56) | 72.0 |
|  [BENEFICIARY](#pro_rop947355_57) | 73.0 |
|  [ANNUAL STATEMENT AND CONFIRMATIONS](#pro_rop947355_58) | 73.0 |
|  [ELECTRONIC DELIVERY](#pro_rop947355_59) | 74.0 |
|  [ABANDONED PROPERTY REQUIREMENTS](#pro_rop947355_60) | 74.0 |
|  [OTHER CONTRACT PROVISIONS](#pro_rop947355_61) | 74.0 |
|  [FEDERAL TAX CONSIDERATIONS](#pro_rop947355_62) | 75.0 |
|  [DISTRIBUTION OF THE CONTRACTS](#pro_rop947355_63) | 79.0 |
|  [MASSMUTUAL ASCEND LIFE](#pro_rop947355_64) | 79.0 |
|  [LEGAL MATTERS](#pro_rop947355_65) | 80.0 |
|  [APPENDIX A: INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT](#pro_rop947355_66) | 82.0 |
|  [APPENDIX B: EXAMPLES OF IMPACT OF WITHDRAWALS ON CONTRACT VALUES AND AMOUNTS REALIZED](#pro_rop947355_67) | 84.0 |
|  [APPENDIX C: STATE VARIATIONS](#pro_rop947355_68) | 92.0 |
|  [APPENDIX D: INDEX DISCLOSURES](#pro_rop947355_69) | 97.0 |

---

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**SPECIAL TERMS** 

In this prospectus, the following capitalized terms have the meanings set out below.

ACCOUNT VALUE. For each day, the Account Value is the sum of the current values of each Indexed Strategy, plus the current value of the Purchase Payment Account, if any.

ADJUSTED CAP. For a Combination Strategy, the Adjusted Cap is the largest increase in the Index for a Term that is taken into account when determining the gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

ANNUITANT. The natural person or persons on whose life the Annuity Payout Benefit is based.

ANNUITY PAYOUT BENEFIT. A series of periodic payments made under a Payout Option. The terms and conditions are described in the Annuity Payout Benefit section of this prospectus.

ANNUITY PAYOUT INITIATION DATE. The first day of the first payment interval for which payment of an Annuity Payout Benefit is to be made. This is the date we apply your Account Value to the Annuity Payout Benefit and calculate the payment amount.

BENEFICIARY. A person entitled to receive all or part of a Death Benefit that is to be paid under the Contract on account of a death before the Annuity Payout Initiation Date.

BUFFER. For an Indexed Strategy with a Buffer (a "Buffer Strategy"), the Buffer is the decrease in the value of an Index for a Term that is disregarded when determining the loss for the Term. The Buffer is also used to determine the strike price of the out-of-the-money put option that is part of the Daily Value Percentage calculation before the end of the Term. For each Term of the Buffer Strategy that we currently offer with this Contract, the Buffer is either 10% or 20%. In the future, we may offer a new Buffer Strategy with more or less protection against loss than a 10% or 20% Buffer, but we will not offer a new Buffer Strategy with less protection against loss than a 5% Buffer.

CAP. For an Indexed Strategy with a Cap (either a "Cap Strategy" or, if it also has an Upside Participation Rate, a Combination Strategy), the Cap is the maximum increase in the Strategy value over the course of a Term. The Cap (or for a Combination Strategy, the Adjusted Cap) is also used to determine the strike price of the out-of-the-money call option that is part of the Daily Value Percentage calculation for that Strategy before the end of the Term. We post on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) the Cap for each Term of a Cap Strategy or Combination Strategy at least 10 days before the next Term starts. The Cap for a Term will never be less than 1%.

COMBINATION STRATEGY. An Indexed Strategy with both an Upside Participation Rate and a Cap.

CONTRACT. The annuity contract (including applicable endorsements and riders) that is a legally binding agreement between you and MassMutual Ascend Life. In this prospectus, "Contracts" refers to all Index Summit 6 Pro Annuity contracts.

CONTRACT ANNIVERSARY. The date in each year that is the anniversary of the Contract Effective Date. That date is set out in the Contract Specifications of your Contract.

CONTRACT EFFECTIVE DATE. The date as of which the initial Purchase Payment is applied to the Contract. That date is set out in the Contract Specifications of your Contract.

CONTRACT SPECIFICATIONS. The section of your Contract that contains details unique to your Contract.

CONTRACT YEAR. A 12-month period that starts on the Contract Effective Date or on a Contract Anniversary.

DAILY CHARGE. The charge for maintaining your Contract, which is calculated as a percentage of the remaining Investment Base of each Indexed Strategy. The Daily Charge is subtracted daily from the Investment Base. Except as provided in the next sentence, the Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.95% per year. The Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.75% per year if your Contract was issued (1) before May 7, 2024; or (2) before June 7, 2024, and your application was signed before May 7, 2024.

DAILY CHARGE FACTOR. The daily rate, that when compounded over a Term, will result in an effective annual rate equal to the Daily Charge annual rate.

DAILY VALUE PERCENTAGE. The Daily Value Percentage is used to determine the value of an Indexed Strategy before the end of a Term. The calculation of Strategy value using the Daily Value Percentage is relevant only if amounts allocated to an Indexed Strategy are not held to the end of the Term because you take a withdrawal, Surrender or annuitize the Contract, elect a Performance Lock, or a Death Benefit becomes payable. A negative Daily Value Percentage adjustment could result in significant loss, even if the Index is performing positively. For each day of a Term of an Indexed Strategy before the final Market Day of the Term, the Daily Value Percentage is equal to: (1) the Net Option Price for that day; minus (2) the Residual Option Cost for that day; and minus (3) the Trading Cost for that day.

------

**See the next section (Special Terms Related to Daily Value Percentage) for the definitions of Residual Option Cost, Net Option Price, and Trading Cost.** 

DEATH BENEFIT. An amount that becomes payable if you die before the Annuity Payout Initiation Date and before the date that the Contract is Surrendered. The terms and conditions are described in the Death Benefit section of this prospectus.

DOWNSIDE PARTICIPATION RATE. For an Indexed Strategy with a Downside Participation Rate (a "Downside Participation Rate Strategy"), the Downside Participation Rate is your share of any fall in the Index for a Term taken into account to determine the Strategy value at the end of the Term. The Downside Participation Rate is also used to determine the Net Option Price that is part of the Daily Value Percentage calculation before the end of the Term. For every Term of each Downside Participation Rate Strategy that we currently offer with this Contract, the Downside Participation Rate is 50%. In the future, we may offer a new Downside Participation Rate Strategy with more or less protection against loss than a 50% Downside Participation Rate, but we will not offer a new Downside Participation Rate Strategy with less protection against loss than a 75% Downside Participation Rate.

EARLY WITHDRAWAL CHARGE. A charge deducted from the Account Value of your Contract if, during the first six Contract Years, you Surrender your Contract or you take a withdrawal (including systematic withdrawals and required minimum distributions) in excess of the Free Withdrawal Allowance. The Early Withdrawal Charge does not apply to a withdrawal that qualifies for the Free Withdrawal Allowance or the amount, if any, that qualifies for another waiver. The Early Withdrawal Charge does not apply to an Annuity Payout Benefit or Death Benefit.

FLOOR. For an Indexed Strategy with a Floor (a "Floor Strategy"), the Floor is the maximum decrease in the value of an Index for a Term that is taken into account when determining the loss for the Term. The Floor is also used to determine the strike price of the out-of-the-money put option that is part of the Daily Value Percentage calculation before the end of the Term. For each Term of a Floor Strategy that we currently offer with this Contract, the Floor is either -10% or 0%. In the future, we may offer a new Floor Strategy that offers more or less protection against loss than a -10% Floor but we will not offer a new Floor Strategy that offers less protection against loss than a -20% Floor.

FREE WITHDRAWAL ALLOWANCE. The total amount that may be taken as a withdrawal or Surrendered during a Contract Year without an Early Withdrawal Charge that might otherwise apply. This amount is described in the Free Withdrawal Allowance section of this prospectus.

INDEX. A stock market index or an exchange-traded fund (ETF) used to calculate the value of an Indexed Strategy. The Index at the start of a Term is its level or price at the Market Close on the first day of that Term. If the first day of that Term is not a Market Day, then the Index at the start of a Term is its level or price at the last Market Close before the first day of the Term. The Index at the end of a Term is its level or price at the final Market Close of that Term.

INDEXED STRATEGY (or STRATEGY). A strategy that provides a return based, in part, on the net change in the level or price of an Index for a Term. The Indexed Strategies that are currently available are set out in "**Appendix A: Investment Options Available Under the Contract"**.

INVESTMENT BASE. The base amount used to calculate the value of an Indexed Strategy. The Investment Base is the amount applied to an Indexed Strategy at the start of a current Term, adjusted proportionally for any withdrawal during the Term and any related Early Withdrawal Charge. The Investment Base is reduced daily by an amount equal to the Daily Charge.

MARKET CLOSE. The close of the regular or core trading session on the market used to measure a given Index.

MARKET DAY. Each day that all markets that are used to measure the available Indexes are open for regular trading.

MASSMUTUAL ASCEND LIFE ("WE," "US," "OUR"). MassMutual Ascend Life Insurance Company.

NEGATIVE RETURN FACTOR. The Downside Participation Rate, Floor, or Buffer used to determine values for an Indexed Strategy at the end of the Term.

OWNER ("YOU," "YOURS"). The person(s) who possesses the ownership rights under the Contract. If there is more than one Owner, each Owner will be a joint owner of the Contract and each reference to Owner means joint owners.

PAYOUT OPTION. The form in which an Annuity Payout Benefit or a Death Benefit may be paid. Standard options are described in the Payout Options section of this prospectus.

PERFORMANCE LOCK. An election available for certain specified Indexed Strategies to lock in the Daily Value Percentage for the remainder of a Term of the Indexed Strategy. A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Indexed Strategy value before the end of the Term and the Indexed Strategy value at the end of the Term is equal to the remaining Investment Base increased or decreased by the locked Daily Value Percentage. The locked Daily Value Percentage is the Daily Value Percentage as determined for that second Market Close. The Indexed Strategy value will still change because of the Daily Charge or if there is another change in the Investment Base. You can make a Performance Lock election once per Term and only for specific Indexed Strategies. A Performance Lock election is not available for Contracts issued in Missouri with a Contract Effective Date before May 21, 2025.

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POSITIVE RETURN FACTOR. A Cap, Upside Participation Rate, or Trigger Rate used to determine values for an Indexed Strategy at the end of the Term.

PROOF OF DEATH. The documentation we require before making payment of a Death Benefit, or any other payment or transfer of ownership rights that depends on the death of a specified person. For these purposes, Proof of death is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a certified copy of a death certificate showing the cause and manner of death, or a certified copy of a decree
that is made by a court of competent jurisdiction as to the finding of death, or other proof that is satisfactory to us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proof of each claimant's interest in the Death Benefit or other Contract rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a Request in Good Order from each claimant as to how to pay the Death Benefit.

PURCHASE PAYMENT. An amount received by us for the Contract. This amount is determined after deducting any taxes withheld from the payment and after deducting any fee charged by the person remitting payment.

PURCHASE PAYMENT ACCOUNT. An account where a Purchase Payment is held until it is applied to an Indexed Strategy on a Strategy Application Date.

REQUEST IN GOOD ORDER. An election or a request that is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• complete and satisfactory to us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sent to us on our form or in a manner satisfactory to us, which may, at our discretion, be by telephone or
electronic means; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• received at our administrative office.

An election or a request is complete and satisfactory when we have received: (1) all the information and legal documentation that we require to process the election or the request; and (2) instructions that are sufficiently clear that we do not need to exercise any discretion to process the election or the request. If you have any questions, you should contact us or your registered representative before submitting your election or your request.

STRATEGY APPLICATION DATE. The 6th and 20th days of each month.

SURRENDER. The termination of your Contract in exchange for its Surrender Value.

SURRENDER VALUE. For each day, the Surrender Value is the Account Value on that day minus the Early Withdrawal Charge that would apply on a Surrender of the Contract. The Account Value will reflect the applicable Strategy values as calculated on that day, which will reflect the Daily Value Percentage whenever Surrender Value is measured before the end of a Term.

TAX-QUALIFIED CONTRACT. An annuity contract that is intended to qualify for special tax treatment for retirement savings. If your Contract is a Tax-Qualified Contract, the cover page of your Contract includes information about its tax qualification. If your Contract is not a Tax-Qualified Contract, the cover page of your Contract will identify it as a "Nonqualified Annuity."

TERM. The period for which Contract values are allocated to a given Indexed Strategy, and over which values are calculated. Terms are one year long, two years long, three years long, or six years long. Each Term will start and end on a Strategy Application Date. A new Term will start on the date that the preceding Term ends.

TRIGGER RATE. For an Indexed Strategy with a Trigger Rate (a "Trigger Strategy"), the Trigger Rate is the specified rate that is credited to the Strategy value when the Index change (measured at the start and end of the Term) qualifies for the Trigger Rate. In the case of a Performance Trigger Strategy, the Trigger Rate will be credited when the Index change is zero or positive at the end of the Term. In the case of a Dual Performance Trigger Strategy, the Trigger Rate will be credited if the Index change is zero, positive, or negative up to the Buffer at the end of the Term. The Trigger Rate is also used to determine the binary call option that is part of the Daily Value Percentage calculation for that Strategy before the end of the Term. We post on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) the Trigger Rates for each Term of a Trigger Strategy at least 10 days before the next Term starts. The Trigger Rate for a Term will never be less than 1%.

UPSIDE PARTICIPATION RATE. For an Indexed Strategy with an Upside Participation Rate (an "Upside Participation Rate Strategy" or, if it also has a Cap, a Combination Strategy), the Upside Participation Rate is your share of any rise in the Index for a Term taken into account to determine the Strategy value at the end of the Term. The Upside Participation Rate is also used to determine the Net Option Price that is part of the Daily Value Percentage calculation before the end of the Term. We post on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) the Upside Participation Rate for each Term of an Upside Participation Rate Strategy or Combination Strategy at least 10 days before the next Term starts. The Upside Participation Rate for a Term will never be less than 5%. For example, if the Index return is 10% and the Upside Participation Rate is 5%, then your Indexed Strategy value will only increase by 0.5% (10% times 5%).

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**Special Terms Related to Daily Value Percentage** 

The following special terms are used in the formula used to calculate the Daily Value Percentage used to determine the value of an Indexed Strategy before the final Market Day of a Term.

NET OPTION PRICE. The Net Option Price for a day is calculated as of the Market Close for that day. If the calculation day is not a Market Day, the Net Option Price for that day is calculated as of the most recent Market Close before that day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Downside Participation Rate Strategies with a Cap, the Net Option Price as of a Market Close is equal to:
(1) the ATM Call Option Price calculated as of that Market Close; minus (2) the OTM Call Option Price calculated as of that Market Close; and minus (3) the ATM Put Option Price calculated as of that Market Close multiplied by the
Downside Participation Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Downside Participation Rate Strategies with an Upside Participation Rate, the Net Option Price as of a Market
Close is equal to: (1) the ATM Call Option Price calculated as of that Market Close multiplied by the Upside Participation Rate; minus (2) the ATM Put Option Price calculated as of that Market Close multiplied by the Downside Participation
Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Buffer Strategies with a Cap but no Upside Participation Rate, the Net Option Price as of a Market Close is
equal to: (1) the ATM Call Option Price calculated as of that Market Close; minus (2) the OTM Call Option Price calculated as of that Market Close; and minus (3) the OTM Put Option Price calculated as of that Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Buffer Strategies with an Upside Participation Rate but no Cap, the Net Option Price as of a Market Close is
equal to: (1) the ATM Call Option Price calculated as of that Market Close multiplied by the Upside Participation Rate; minus (2) the OTM Put Option Price calculated as of that Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Buffer Strategies with both an Upside Participation Rate and a Cap, the Net Option Price as of a Market Close
is equal to: (1) the ATM Call Option Price calculated as of that Market Close multiplied by the Upside Participation Rate; minus (2) the OTM Call Option Price calculated as of that Market Close, multiplied by the Upside Participation Rate;
and minus (3) the OTM Put Option Price calculated as of that market close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Buffer Strategies with a Performance Trigger (other than a Dual Performance Trigger), the Net Option Price as
of a Market Close is equal to: (1) the ATM Binary Call Option Price calculated as of the Market Close; minus (2) the OTM Put Option Price calculated as of the Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Buffer Strategies with a Dual Performance Trigger, the Net Option Price as of a Market Close is equal to:
(1) the ITM Binary Call Option Price calculated as of the Market Close; minus (2) the OTM Put Option Price calculated as of the Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For -10% Floor Strategies with a Cap, the Net Option Price as of a Market
Close is equal to: (1) the ATM Call Option Price calculated as of that Market Close; minus (2) the OTM Call Option Price calculated as of that Market Close; minus (3) the ATM Put Option Price calculated as of that Market Close; and
plus (4) the OTM Put Option Price calculated as of that Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For 0% Floor Strategies with a Cap, the Net Option Price as of a Market Close is equal to: (1) the ATM Call
Option Price calculated as of that Market Close; minus (2) the OTM Call Option Price calculated as of that Market Close.

The option prices in these formulas reflect the possible future change in the Index over the remainder of the Term. The formulas take into account the applicable Positive Return Factor for the Term, the Negative Return Factor, and the Index change required to qualify for the Trigger Rate.

Each option price is stated as a percentage of the Index calculated as of the most recent Market Close on or before the first day of the Term. The option price is determined using a mathematical model to calculate the price of a hypothetical option.

ATM BINARY CALL OPTION PRICE. The calculated price of a hypothetical at-the-money binary call option (or collection of options) that will pay the holder an amount equal to the Trigger Rate multiplied by the Investment Base if the change in the Index for the Term is zero or is positive.

ATM CALL OPTION PRICE. The calculated price of a hypothetical at-the-money call option. The hypothetical at-the-money call option is one that will pay the holder an amount equal to the percentage rise, if any, in the Index from the last Market Close on or before the start of a Term to the final Market Close of that Term.

ATM PUT OPTION PRICE. The calculated price of a hypothetical at-the-money put option. The hypothetical at-the-money put option is one that will pay the holder an amount equal to the percentage fall, if any, in the Index from the last Market Close on or before the start of a Term to the final Market Close of that Term.

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ITM BINARY CALL OPTION PRICE. The calculated price of a hypothetical in-the-money binary call option (or collection of options) that will pay the holder an amount equal to the Trigger Rate multiplied by the Investment Base if the change in the Index for the Term is zero, is positive, or is negative up to the Buffer.

OTM CALL OPTION PRICE. The calculated price of a hypothetical out-of-the-money call option. For a Cap Strategy that is not a Combination Strategy, the hypothetical out-of-the-money call option is one that will pay the holder an amount equal to the percentage rise, if any, in the Index from the last Market Close on or before the start of a Term to the final Market Close of that Term, but only if and to the extent that rise exceeds the Cap for that Term. For a Combination Strategy, the hypothetical out-of-the-money call option is one that will pay the holder an amount equal to the percentage rise, if any, in the Index from the last Market Close on or before the start of a Term to the final Market Close of that Term, but only if and to the extent that rise exceeds the Adjusted Cap for that Term.

OTM PUT OPTION PRICE. The calculated price of a hypothetical out-of-the-money put option. The hypothetical out-of-the-money put option is one that will pay the holder an amount equal to the percentage decrease, if any, in the Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer or Floor for the Term.

RESIDUAL OPTION COST. The Residual Option Cost (which may be called the Amortized Option Cost in some Contracts) is one part of the formula used to calculate the Daily Value Percentage, which is used to determine the value of an Indexed Strategy each day before the final Market Day of a Term. The Residual Option Cost for a day is calculated as of the last Market Close on or before that day. If the calculation day is not a Market Day, the Residual Option Cost for that day is calculated as of the last market Close before that day. The Residual Option Cost is a percentage equal to: (1) the initial Net Option Price for an Indexed Strategy for the Term; multiplied by (2) the number of days remaining until the final Market Close of that Term divided by 365 days if that Term is one year long, or by 730 days if that Term is two years long, or by 1,096 days if that Term is three years long, or by 2,192 days if that Term is six years long. The initial Net Option Price is the Net Option Price calculated as of the last Market Close on or before the start of the Term.

TRADING COST. The Trading Cost is the estimated cost of selling the hypothetical options before the end of a Term to the extent not already reflected in the option prices. The Trading Cost for a day is a percentage set by us from time to time based on market conditions. The Trading Cost reflects the average market difference between option prices and market bid prices.

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**OVERVIEW OF THE CONTRACT** 

**Purpose** 

The MassMutual Ascend Life Index Summit 6 Pro annuity is an individual modified single premium deferred indexed annuity contract that may help you accumulate retirement savings. The Contract is intended for long-term investment purposes. The Contract is a legal agreement between you as the Owner and MassMutual Ascend Life as the issuing insurance company. In the Contract, you agree to make one or more Purchase Payments to us, and we agree to pay the Annuity Payout Benefit to you. If there is an applicable death before the Annuity Payout Initiation Date, we also agree to pay a Death Benefit that will never be less than the Death Benefit Return of Premium Guarantee. The Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to access invested funds within a short-term timeframe or frequently.

Like all deferred annuities, the Contract has two periods. During the **Accumulation Period** (the period prior to the Annuity Payout Initiation Date), the Contract may accumulate earnings on a tax-deferred basis. During the **Annuity Payout Period** that begins on the Annuity Payout Initiation Date, we will make payments under the applicable Payout Option.

The Contract may not be available in all states, and may vary in your state. See Appendix C for state variations. The Contract may not be available through all selling firms or all financial professionals.

**Accumulation Period** 

During the Accumulation Period, the amounts you contribute can be allocated among any of the then available Indexed Strategies and may accumulate earnings on a tax-deferred basis. **Additional information about each Indexed Strategy is available in "Appendix A: Investment Options Available Under the Contract".**

The Company will credit gain or loss at the end of the Term to amounts allocated to an Indexed Strategy based, in part, on the performance of the Index. The Owner bears the risk of any gain or loss on amounts allocated to the Indexed Strategies and could lose a significant amount of money if the index declines in value.

The Company limits the negative Index return used in calculating loss for an Indexed Strategy at the end of its Term through the use of one of three Negative Return Factors: a Downside Participation Rate, a Buffer, or a Floor. The Negative Return Factors are generally designed to limit the reduction in the value of the Indexed Strategies at the end of a Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Downside Participation Rate** is the portion of any negative Index change that will decrease your Strategy
value at the end of the Term. A 50% Downside Participation Rate causes a decrease in Strategy value at the end of the Term equal to 50% of the negative Index change. For example, if the Index return over the Term is -18%, the value of an Indexed Strategy with a Downside Participation Rate of 50% will decrease by 9% for the Term (50% of the negative Index change).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Buffer** is the negative Index change to be disregarded when determining Strategy value at the end of the
Term. An Indexed Strategy with a 10% Buffer means that your Strategy value will not be affected by the first 10% of any negative Index change, but your Strategy value will decrease by any negative return in excess of -10%. An Indexed Strategy with a 20% Buffer causes the Company to assume the first 20% of any negative Index change, but your Strategy value will decrease by any negative return in excess of -20%. For example, if the Index return over the Term is -18% the value of an Indexed Strategy with a 10% Buffer will decrease by 8% for the Term (the amount that exceeds the
Buffer). If the Index return over the Term is -18%, the value of an Indexed Strategy with a 20% Buffer will not change for the Term (there is no amount that exceeds the Buffer).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Floor** is the maximum percentage decrease in your Strategy value at the end of the Term if there is a
negative Index change. An Indexed Strategy with a -10% Floor limits the loss from any negative Index change to 10% when determining the Strategy value at the end of the Term. An Indexed Strategy with a 0%
Floor eliminates all loss from any negative Index change when determining the Strategy value at the end of the Term. For example, if the Index return over the Term is -18% and the Floor is -10%, the value of an Indexed Strategy with a -10% Floor will decrease by 10% for the Term (the maximum loss allowed under the Floor).

For each Indexed Strategy, the Indexed Strategy value will also be reduced by the Daily Charge.

**We may stop offering any Indexed Strategy at the end of a Term; however, we will always offer the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.** 

The Company limits the positive Index return used in calculating gain for an Indexed Strategy at the end of its Term through the use of three Positive Return Factors: a Cap, an Upside Participation Rate, or a Trigger Rate. A Combination Strategy may use both an Upside Participation Rate and a Cap. The Positive Return Factors are generally designed to limit the increase in the value of the Indexed Strategies at the end of a Term. **You may earn less than the Index returns with a Cap, an Upside Participation Rate, or a Trigger Rate.**

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Cap** is the maximum increase in Strategy value over the course of the Term. For example, if the Index
return over the Term is 16% (measured from the beginning of the Term to the end of the Term), the value of an Indexed Strategy with a 10% Cap will increase by 10% for the Term (the maximum allowed under the Cap). For a Combination Strategy, the Cap
is applied after application of the Upside Participation Rate. **For any Cap Strategy, the Cap will vary from Term to Term, but will never be less than 1%**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An **Upside Participation Rate** is the portion of any positive Index change (measured from the beginning of
the Term to the end of the Term) that is taken into account to determine the Strategy value at the end of the Term. For example, if the Index return over the Term is 16%, at the end of the Term the value of an Indexed Strategy with a 75% Upside
Participation Rate will increase by 12% for the Term (75% of the increase in the value of the Index). For a Combination Strategy, the Upside Participation Rate is applied prior to application of the Cap. **For any Upside Participation Rate Strategy, the Upside Participation Rate will vary from Term to Term, but will never be less than 5%**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Trigger Rate** for a Performance Trigger Strategy is the specified increase in the Strategy value when the
Index change is zero or positive at the end of the Term. The Trigger Rate for a Dual Performance Trigger Strategy is the specified increase in the Strategy value when the Index change is zero, positive, or negative up to the Buffer at the end of the
Term. For example, if the index return over the Term is 16%, the value of an Indexed Strategy with an 11% Trigger Rate will increase by 11% for the Term (the Trigger Rate). **For any Trigger Strategy, the Trigger Rate will vary from Term to Term, but will never be less than 1%**.

**You may earn less than the Index returns with a Cap, an Upside Participation Rate, a combination thereof, or a Trigger Rate.** 

**Annuity Payout Period** 

The Annuity Payout Period begins when you annuitize your Contract effective on the Annuity Payout Initiation Date. When you annuitize your Contract, we promise to pay a stream of Annuity Payout Benefit payments for the duration of the period selected. Once Annuity Payout Benefit payments start, you can no longer Surrender the Contract or take a withdrawal, no Death Benefit will be payable under your Contract, your Beneficiary designations will no longer apply, and the Indexed Strategies will no longer be available. The amount payable after death, if any, is governed by the Payout Option you select.

**Contract Features** 

**Annuity Payout Benefit** *(see "Annuity Payout Benefit" section on page 61 for more details)*

When the Contract is annuitized, we promise to pay a stream of Annuity Payout Benefit payments for the duration of the period selected.

**Death Benefit** *(See "Death Benefit" Section on page 62 for more details)*

For no additional cost, the Contract includes a Death Benefit Return of Premium Guarantee. If you die before the Annuity Payout Initiation Date and before the Contract is Surrendered, we will pay a Death Benefit equal to the greater of the Account Value determined as of the date that the Death Benefit value is determined or the Death Benefit Return of Premium Guarantee. The Death Benefit Return of Premium Guarantee is equal to your Purchase Payments (the "Purchase Payment base"), reduced proportionally for all withdrawals.

**Access to Your Money** *(See "Cash Benefit" section on page 60 for more details)* 

You may Surrender your Contract or take a withdrawal from your Contract at any time before the earlier of (1) the Annuity Payout Initiation Date; or (2) a death for which a Death Benefit is payable. The right to Surrender or take a withdrawal may be restricted if your Contract is purchased under an employer plan subject to IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuity plans), or IRC Section 457(b) (governmental deferred compensation plans).

During the first six Contract Years, an Early Withdrawal Charge will apply unless (a) your withdrawal qualifies for the Free Withdrawal Allowance or (b) the withdrawal qualifies for a waiver (as explained in the "Early Withdrawal Charge—Early Withdrawal Charge Waiver" section).

The amount paid upon Surrender is the Surrender Value. A withdrawal from an Indexed Strategy will reduce the Account Value by the amount of the withdrawal, including any taxes and any applicable Early Withdrawal Charge. If you Surrender your Contract or take a withdrawal from an Indexed Strategy on a day that is not the end of a Term, the Strategy value will be calculated using the Daily Value Percentage of the Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term.

A withdrawal from an Indexed Strategy will reduce the Investment Base and the Death Benefit Return of Premium Guarantee by an amount that is proportional to the reduction in the Strategy value. If the Daily Value Percentage is negative, these proportional reductions could be significantly larger than the dollar amount of the withdrawal. A reduction in the Investment Base for a Term will reduce the gain from any future rise in the Index during that Term.

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You may designate the Indexed Strategy or Strategies from which a withdrawal will be taken by a Request in Good Order prior to the date of the withdrawal. If you do not make a designation, we will take the withdrawal in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• first proportionally from funds, if any, that then qualify for a waiver of the Early Withdrawal Charge pursuant
to the provisions of the Indexed Strategy endorsement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then from the Purchase Payment Account; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then proportionally from Indexed Strategies having the shortest Terms (meaning the withdrawal will be taken
proportionally from Indexed Strategies with 1-year Terms, and then proportionally from Indexed Strategies with 2-year Terms, and then proportionally from Indexed
Strategies with 3-year Terms, and finally from Indexed Strategies having 6-year Terms).

A withdrawal will reduce the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit.

The amount withdrawn or paid on a Surrender is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of a withdrawal may also be subject to an additional 10% federal penalty tax.

**Free Withdrawal Allowance** *(See "Free Withdrawal Allowance" section on page 31 for more details)* 

The Early Withdrawal Charge does not apply to an amount equal to the Free Withdrawal Allowance. For the first Contract Year, the Free Withdrawal Allowance is an amount equal to 10% of the total Purchase Payments received by us. For each subsequent Contract Year, the Free Withdrawal Allowance is equal to 10% of the Account Value as of the most recent Contract Anniversary.

**Automated Withdrawals** *(See "Automated Withdrawals" section on page 60 for more details)* 

You may elect to withdraw money from your Contract under any automated withdrawal program that we offer. Your Account Value must be at least $10,000 in order to make an automated withdrawal election. The minimum amount of each automated withdrawal payment is $100. Automated withdrawals will be taken from the Purchase Payment Account and Indexed Strategies of your Contract in the same order as any other withdrawal. **The Contract is intended for long-term investment purposes and the Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years, because of the assessment of Early Withdrawal Charges, or who plan to take withdrawals during Indexed Strategy Terms, because of the application of the Daily Value Percentage.**

**Performance Lock** *(See "Indexed Strategy Value After Performance Lock Election" section on page 48 for more details)*

A Performance Lock allows you to lock in the Daily Value Percentage of an eligible Indexed Strategy for the remainder of a Term. You may make a Performance Lock election for any Term or Terms of the S&P 500 Indexed Strategies (excluding the 0% Floor Cap Strategy and the three Trigger Strategies) and the First Trust Barclays Edge Indexed Strategies. For Contracts with a Contract Effective Date on or after May 21, 2025, you may also make a Performance Lock election for any Term or Terms of the Russell 2000 Indexed Strategies. A Performance Lock election is not available for Contracts issued in Missouri with a Contract Effective Date before May 21, 2025.

If you make a Performance Lock election, the Daily Value Percentage will be locked for the balance of the Term. This means that you will experience flat performance through the balance of the Term even if the Net Option Value increases, you will not benefit from the continued decline in the Daily Value Percentage, and your ending Strategy value will not be based on the ending Index value on the last day of the Term. As a result, the locked-in Strategy value could be lower than the value you otherwise would have received at the end of the Term. If the Daily Value Percentage is negative at the time of the Performance Lock election, you could be locking in a loss which could be significant.

A Performance Lock election is not effective until the second Market Close after receipt of your Request in Good Order. **As a result, you will not be able to determine in advance the locked Daily Value Percentage that will apply to the Indexed Strategy at the time you make a Performance Lock election. The Daily Value Percentage at the time the Performance Lock election becomes effective may be higher or lower than it was at the time you submitted your election.**

**Terminal Illness and Extended Care Waivers** *(see "Early Withdrawal Charge Waivers" on page 31 for more details)*

In states where permitted, for no additional charge we will waive the Early Withdrawal Charge for all withdrawals and on Surrender of the Contract if the Annuitant or Owner is diagnosed with a terminal illness, as defined by the Waiver, or is confined to a hospital or other long term care facility, and certain other conditions are met. Withdrawals and Surrenders under these waivers may still trigger a Daily Value Percentage adjustment and taxes, and if before age 59<sup>1</sup>⁄<sub>2</sub>, a penalty tax.

**Tax Treatment** *(see "Federal Tax Considerations" on page 73 for more details)*

Your Purchase Payments accumulate value on a tax-deferred basis. Your earnings are not taxed until money is withdrawn from the Contract, such as when you make a withdrawal from or Surrender your Contract, or receive an annuity payment from the Contract, or a death benefit is paid.

**Daily Value Percentage Adjustment** 

Each day before the final Market Day of a Term the value of an Indexed Strategy is equal to the Investment Base increased or decreased by the Daily Value Percentage. Before the end of a Term, if you take a withdrawal, Surrender or annuitize the Contract, elect a Performance Lock, or a Death Benefit becomes payable, the application of the Daily Value Percentage adjustment may cause your losses to exceed the 0% Floor, the -10% Floor, or the 50% Downside Participation Rate or you will not receive the benefit of the 10% Buffer or 20% Buffer. You could lose a significant amount of money due to a Daily Value Percentage adjustment if amounts are removed from an Indexed Strategy before the end of a Term. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.** 

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**IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT** 

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| | | |
|:---|:---|:---|
|  | **FEES, EXPENSES AND ADJUSTMENTS** | **Location in Prospectus** |
| **Are There Charges or Adjustments for Early Withdrawals?** | **Yes.**<br>*Early Withdrawal Charge.* If you withdraw money from or Surrender your Contract within the first 6 Contract Years, you may be assessed an Early Withdrawal Charge of up to 9% of the amount withdrawn or Surrendered. For example, if you make a withdrawal from or Surrender your Contract within the first 6 Contract Years, you could pay an Early Withdrawal Charge of up to $9,000 on a Contract with an Account Value of $100,000. This loss will be greater if there is a negative Daily Value Percentage adjustment, you also have to pay taxes and, if before age 59<sup>1</sup>/<sub>2</sub>, you are subject to a penalty tax.<br>*Daily Value Percentage.* The Daily Value Percentage is used to determine the value of an Indexed Strategy before the end of a Term. If before the end of a Term you take a withdrawal from an Indexed Strategy, Surrender or annuitize the Contract, elect a Performance Lock, or a Death Benefit becomes payable, the application of the Daily Value Percentage adjustment may result in losses in excess of any Floor, Buffer or Downside Participation Rate applicable to the Indexed Strategy. This loss will be greater if you also have to pay an Early Withdrawal Charge, taxes and, if before age 59<sup>1</sup>⁄<sub>2</sub>, you are subject to a penalty tax. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would lose 100% of your principal and prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable**. **For example, if you allocate $100,000 to an Indexed Strategy with a 6-year Term and Surrender the Contract before the 6 years have ended, you could lose up to $100,000 of your investment.** | **FEE TABLE**<br>**CHARGES AND ADJUSTMENTS**<br>**PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** |
| **Are There Transaction Charges?** | **Yes.** In addition to Early Withdrawal Fees and the Daily Value Percentage, we reserve the right to charge up to $30 annually if you elect to receive Automated Withdrawals. We do not currently charge for Automated Withdrawals. | **FEE TABLE**<br>**CHARGES AND ADJUSTMENTS** |
| **Are There Ongoing Fees and Expenses?** | **Yes.** The table below describes the fees and expenses that you will pay each year during the Accumulation Phase of your Contract. Please refer to your Contract specifications for information about the specific fees you will pay each year.<br>**In addition, there is an implicit ongoing fee on Indexed Strategies to the extent that your participation in Index gains is limited by the Company through the use of a Cap, Upside Participation Rate, or Trigger Rate. This means that your returns may be lower than the Index's returns. In return for accepting this limit on Index gains, you will receive some protection from Index losses. This implicit ongoing fee is not reflected in the table below.** | **FEE TABLE**<br> **INDEXED STRATEGIES** |

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| | | |
|:---|:---|:---|
| **Annual Fee** | **Minimum** | **Maximum** |
| **Contracts Issued before June 7, 2024, with application signed before May 7, 2024** | **Contracts Issued before June 7, 2024, with application signed before May 7, 2024** | **Contracts Issued before June 7, 2024, with application signed before May 7, 2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daily Charge Rate <sup>(1)</sup> | 0.75% | 0.75% |
|  **All other Contracts** | **All other Contracts** | **All other Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daily Charge Rate <sup>(1)</sup> | 0.95% | 0.95% |

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<sup>(1)</sup> As a percentage of the remaining Investment Base of each Indexed Strategy. 

To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay *each year*, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, **which could add Early Withdrawal Charges and potential negative Daily Value Percentage adjustments that could substantially increase costs.**

**<u>Contracts Issued before June 7, 2024, with application signed before May 7, 2024</u>**

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| | |
|:---|:---|
|  **Lowest Annual Cost: $787.50** | **Highest Annual Cost: $787.50** |
| Assumes | Assumes |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.75% Daily Charge<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional Purchase Payments, transfers or withdrawals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.75% Daily Charge<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional Purchase Payments, transfers or withdrawals |

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**<u>All other Contracts</u>**

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| | |
|:---|:---|
|  **Lowest Annual Cost: $997.50** | **Highest Annual Cost: $997.50** |
| Assumes | Assumes |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.95% Daily Charge<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional Purchase Payments, transfers or withdrawals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.95% Daily Charge<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional Purchase Payments, transfers or withdrawals |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **Location in Prospectus** |
| **Is There a Risk of Loss from Poor Performance?** | **Yes.** You can lose money by investing in the Contract including loss of principal and previous earnings.<br>**Under the Indexed Strategies,** t**he maximum amount of loss you may experience due to negative Index performance at the end of a Term would be: 90% loss for a 10% Buffer Strategy; 80% loss for a 20% Buffer Strategy; 10% loss for a -10% Floor Strategy; or 0% loss for a 0% Floor Strategy. At the end of a Term for a Downside Participation Rate Strategy, you could lose up to 50% of your original principal and prior earnings. Losses exceeding these amounts may happen before the end of a Term. We may discontinue offering Indexed Strategies with a Buffer or Floor Rate. We will always offer an Indexed Strategy with a 50% Downside Participation Rate.**  | **PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** |
| **Is this a Short-Term Investment?** | **No.** The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. | **PRINCIPAL RISKS OF INVESTING**<br> **IN THE CONTRACT** |
|  | • Amounts withdrawn from the Contract may result in Early Withdrawal Charges and taxes and, if before age 59 <sup>1</sup>⁄<sub>2</sub>, may be subject to a penalty tax. | **CHARGES AND ADJUSTMENTS**<br>**STRATEGY SELECTIONS AT**<br> **TERM END** |
|  | • Amounts removed from an Indexed Strategy before the end of a Term may also result in a negative Daily Value Percentage and loss of positive Index performance. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would lose 100% of your principal and prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.** | **DEFAULT STRATEGY ALLOCATIONS** |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **Location in Prospectus** |
|  | • Withdrawals from an Indexed Strategy before the end of a Term will proportionally reduce the Investment Base used to calculate the Strategy value through the end of a Term, and this proportional reduction could be larger than the dollar amount of the withdrawal.<br>• At the end of a Term, ending values of the Strategies for that Term will be reallocated according to your instructions. If you do not send us a reallocation request, your current allocations will automatically continue in the new Term as long as the same Indexed Strategies are available. If an amount cannot be applied to a new Term of that same Indexed Strategy because the Strategy will not be available or because the amount is under the minimum or over the maximum for that Strategy, we will reallocate that amount to another Indexed Strategy as described in the Default Strategy Allocations section of this prospectus. |  |
| **What Are the Risks Associated with the Investment Options?** | An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Indexed Strategies available under the Contract. Each Indexed Strategy will have its own unique risks. You should review the Indexed Strategies before making an investment decision. | **PRINCIPAL RISKS OF INVESTING**<br> **IN THE CONTRACT**<br>**INDEXED STRATEGIES** |
|  | A Cap, Upside Participation Rate, combination thereof, or Trigger Rate may limit positive Index returns (e.g., limited upside). **You may earn less than the Index returns due to a Cap, Upside Participation Rate, combination thereof, or Trigger Rate.** <br>• The gain for a Term of an Indexed Strategy with a **Cap** is limited to the Cap. For example, if the Index return over the Term is 16% and the Cap for the Strategy is 10%, the gain for the Term is limited to 10%. For Combination Strategies, the Cap is applied after application of the Upside Participation Rate.<br>• The gain for a Term of an Indexed Strategy with an **Upside Participation Rate** is limited by the Upside Participation Rate if the Upside Participation Rate is less than 100%. For example, if the Index return over the Term is 16% and the Upside Participation Rate for the Strategy is 75%, the gain for the Term is limited to 12% (75% of the increase in the value of the Index). For Combination Strategies, the Upside Participation Rate is applied prior to application of the Cap.<br>• The gain for a Term of an Indexed Strategy with a **Trigger Rate** is limited to the Trigger Rate. For example, if the Index return over the Term is 16% and the Trigger Rate for the Strategy is 11%, the gain for the Term is limited to 11% (the Trigger Rate).<br>The Downside Participation Rate, Buffer or Floor will limit negative Index returns (e.g., limited protection in the case of market decline). For example:<br>• The loss for a Term of an Indexed Strategy with a **Downside Participation Rate** is limited by the Downside Participation Rate. For example, if the Index return over the Term is -18% and the Downside Participation Rate is 50%, the loss for the Term is limited to 9% (50% of the negative Index change). |  |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **Location in Prospectus** |
|  | • The loss for a Term of an Indexed Strategy with a **Buffer** is limited to the portion of the loss which exceeds the Buffer. For example, if the Index return over the Term is -18% and the Buffer is 10%, the loss for the Term is limited to 8% (the amount that exceeds the Buffer).<br>• The loss for a Term of an Indexed Strategy with a **Floor** is limited to the Floor. For example, if the Index return is -18% and the floor is -10%, the loss for the Term is limited to 10% (the maximum loss under the Floor).<br>Each Index other than the First Trust Barclays Edge Index is a "price return index," not a "total return index," and therefore does not reflect the dividends paid on the securities composing the Index. This will reduce the Index return for those Indices and will cause their Index returns to underperform a direct investment in the securities composing the Index. The First Trust Barclays Edge Index is an "excess return index" that subtracts a risk-free interest rate from the price and dividend return of the securities. It also deducts fees and costs when calculating Index performance, which will also reduce the Index return and cause their Index returns to underperform a direct investment in the securities composing the Index. |  |
| **What Are the Risks Related to the Insurance Company?** | An investment in the Contract is subject to the risks related to the Company. Any obligations (including obligations under the Indexed Strategies), guarantees, or benefits are subject to the claims paying ability of the Company. Additional information about the Company, including its financial strength ratings, is available upon request by calling 1-800-789-6771. | **PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** |

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | **Location in Prospectus** |
| **Are There Limits on the Investment Options?** | **Yes.**<br>**Purchase Payments.**<br>• Additional Purchase Payments after the Initial Purchase Payment are only permitted during the Purchase Payment period, which ends two months after the Contract Effective Date. Unless we agree, an additional Purchase Payment cannot be less than the minimum set out in the Contract Specifications section of your Contract, and cannot cause the total Purchase Payments to exceed the maximum set out in the Contract Specifications section of your Contract.<br>**Transfers and Reallocations.**<br>• You cannot reallocate your value among Indexed Strategies during a Term.<br>**Investment Restrictions.**<br>• The 6-Year Indexed Strategies are only available for a Term that starts in the first Contract Year.<br>• The 3-Year Indexed Strategies are only available for Terms that begin before the end of the fourth Contract Years. | **PURCHASING THE CONTRACT**<br>**INITIAL STRATEGY SELECTIONS**<br>**DEFAULT STRATEGY ALLOCATIONS**<br>**INDEX REPLACEMENT** |

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | **Location in Prospectus** |
|  | **Our right to change the Indexed Strategies or Indexes**<br>• In the future, we may offer new Indexed Strategies. Any new Buffer Strategy will offer protection against loss at least equal to a 5% Buffer. Any new Floor Strategy will offer protection against loss at least equal to a -20% Floor. Any new Downside Participation Rate Strategy will offer protection against loss at least equal to a 75% Downside Participation Rate.<br>• For each future Term, we may modify the Positive Return Factor rate for any Indexed Strategy.<br>• At the end of a Term, we may stop offering any Indexed Strategy other than the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy, which will always be available.<br>• For future Terms, we may impose minimum or maximum allocations on an Indexed Strategy. No minimum or maximum shall apply to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.<br>• We have the right to replace or adjust an Index or rate, or the specified market to measure it, if the external market index or rate stops being published or the publication schedule is changed, the calculation of the external market index or rate is changed significantly, the investment fund terminates or there is a significant change in its investment objectives, strategies, or operations, the investment fund or commodity stops being traded on a specified market or the specified market declines in importance, we lose our license or permission to use the index or rate, we determine that hedging instruments are difficult to acquire or the cost of hedging becomes excessive, or under other circumstances approved by regulators. We may do so at the end of a Term or during a Term. The performance of the new or adjusted Index may not be as good as the performance of the old Index. As a result, funds allocated to an Indexed Strategy may earn a return that is lower than the return they would have earned or experience losses greater than the losses they would have experienced if there had been no replacement or adjustment. |  |
| **Are There Restrictions on Contract Benefits?** | **Yes.**<br>• A withdrawal must be at least $500 and cannot reduce the Account Value to less than the Minimum Required Value set out in the Contract Specifications section of your Contract.<br>• An annuitization cannot occur before the first Contract Anniversary. An annuitization for a fixed period cannot be for less than the Minimum Fixed Period Payout set out in the Contract Specifications section of your Contract. Payment amounts under any option must be at least $50 or such higher amount as we may set from time to time.<br>• A withdrawal will reduce the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit. In addition, a withdrawal will proportionally reduce the Death Benefit Return of Premium Guarantee, and this proportional reduction could be larger than the dollar amount of the withdrawal. | **DEATH BENEFIT**<br>**ANNUITY PAYOUT BENEFIT**<br>**INDEXED STRATEGY VALUE AFTER PERFORMANCE LOCK ELECTION** |

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | **Location in Prospectus** |
|  | • If you elect a Performance Lock, you will not be able to reallocate the locked value until the end of a Term.<br>• If you elect a Performance Lock for an Indexed Strategy with a 2-year, 3-year, or 6-year Term, the Term will always end on the next anniversary of the Term start date even if it otherwise would have continued for one or more additional years. |  |
|  | **TAXES** | **Location in Prospectus** |
| **What Are the Contract's Tax Implications?** | You should consult with a tax professional to determine the tax implications of an investment in and Purchase Payments received under the Contract. There is no additional tax benefit to you if the Contract is purchased through a tax-qualified plan or individual retirement account (IRA). Generally, withdrawals will be subject to ordinary income tax, and if before age 59<sup>1</sup>⁄<sub>2</sub>, may be subject to a penalty tax. | **FEDERAL TAX**<br> **CONSIDERATIONS** |
|  | **CONFLICTS OF INTEREST** | **Location in Prospectus** |
| **How Are Investment Professionals Compensated?** | Some investment professionals may receive compensation for selling the Contract to you. The compensation is typically paid as a commission calculated as a percentage of the Purchase Payments received for a Contract. These investment professionals may have a financial incentive to offer or recommend the Contract over another investment. | **DISTRIBUTION OF THE CONTRACTS** |
| **Should I Exchange My Contract?** | Some investment professionals may have a financial incentive to offer you a new contract in place of the one you already own. You should only exchange your existing contract if you determine, after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate the existing contract, that it is preferable for you to purchase the new contract rather than continue to own your existing contract. | **DISTRIBUTION OF THE CONTRACTS** |

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**FEE TABLE** 

**The following tables describe the fees, expenses and adjustments that you will pay when buying, owning, and Surrendering or making withdrawals from an Indexed Strategy or from the Contract. Please refer to the Contract Specifications section of your Contract for information about the specific fees you will pay each year based on the options you have elected.** 

**The first table describes the fees and expenses you will pay at the time that you Surrender or make withdrawals from an Indexed Strategy or from the Contract. State premium taxes may also be deducted.** 

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| | |
|:---|:---|
| **Transaction Expenses** | **Maximum** |
|  Automated Withdrawals | $30 annually |
|  Early Withdrawal Charge (as a percentage of amount withdrawn or Surrendered) <sup>(1)</sup>  | 9.00% |

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<sup>(1)</sup> The Early Withdrawal Charge is calculated as a percentage of the amount withdrawn plus any amount needed to cover the Early Withdrawal Fee. If you Surrender your Contract, the amount subject to the Early Withdrawal Charge is your Account Value. We may waive the Early Withdrawal Charge under certain circumstances. **See the "Charges and Adjustments" section of this prospectus for more information about the Early Withdrawal Charge and the circumstances in which it may be waived.** The charge decreases to zero after 6 years according to the following schedule: 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  Contract Year | 1 | 2 | 3 | 4 | 5 | 6 | 7+ |
|  Early Withdrawal Charge Rate | 9.0% | 8.0% | 7.0% | 6.0% | 5.0% | 4.0% | 0% |

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**The next table describes the adjustments, in addition to any transaction expenses, that apply if all or a portion of the Account Value is removed from an Indexed Strategy before the expiration of Term.** 

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|:---|:---|
| **Contract Adjustments**<sup>(2)</sup> | |
|  Daily Value Percentage Adjustment Maximum Potential Loss<br>(as a percentage of Strategy value at the start of the Term)  | 100% |

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<sup>(2)</sup> A Daily Value Percentage adjustment will be applied if you take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable before the end of a Term. 

**The next table describes the fees and expenses that you will pay *each year* during the time that you own the Contract.** 

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| | |
|:---|:---|
| **Annual Contract Expenses** | |
|  Base Contract Expenses <sup>(3)</sup><br>(as a percentage of investment base of each Indexed Strategy) | 0.95% |

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<sup>(3)</sup> Base Contract Expenses consists of the annualized Daily Charge Rate. Unless your Contract qualifies for a lower rate, the Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.95% per year. The Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.75% per year if your Contract was issued: (1) before May 7, 2024; or (2) before June 7, 2024, and your application was signed before May 7, 2024. 

**In addition to the fees described above, the Positive Return Factors may limit the amount you can earn on the Indexed Strategies. This means your returns may be lower than the Index's returns. In return for accepting this limit on Index gains, you will receive some protection from Index losses.** 

**PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** 

You should understand the risks associated with the Contract before you purchase it. You should carefully consider your income needs and risk tolerance to determine whether the Contract or a particular Indexed Strategy is appropriate for you. The level of risk you bear and your Contract's potential investment performance will differ depending on the Indexed Strategies you choose.

**Market Risk** 

There is a risk of loss of principal and prior earnings due to the negative performance of an Index if you allocate your Account Value to an Indexed Strategy. Such a loss may be significant. **This risk exists because, at the end of that Term, you can lose up to 50% of the money allocated to a Downside Participation Rate Strategy, up to 10% of the money allocated to a -10% Floor Strategy, up to 90% of the money allocated to a 10% Buffer Strategy, or up to 80% of the money allocated to a 20% Buffer Strategy. In addition, the Daily Charge will reduce Indexed Strategy value. If you allocate money to one or more Indexed Strategies over multiple Terms, you may lose money each Term, which may result in a cumulative loss of your principal and any prior earnings that is greater than 50% for a Downside Participation Rate strategy, greater than 10% for a -10% Floor Strategy, greater than 90% for a 10% Buffer Strategy, or greater than 80% for a 20% Buffer Strategy.**

**The S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy will always be available.** At the end of a Term, we may stop offering any other Indexed Strategy. Consequently, any other Indexed Strategy described in this prospectus may not be available after the end of the initial Term. Indexed Strategies with 6-year Terms will only be available for Terms beginning in the first Contract Year. Indexed Strategies with 3-year Terms are not available for Terms that begin after the fourth Contract Year. We have the right to replace the Index associated with an Indexed Strategy under certain circumstances.

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In the future, we may offer a new Strategy with a Downside Participation Rate that is more or less than 50%, with a Floor that is more or less negative than -10%, or that has a Buffer of more or less than 10%. However, we will not offer a new Buffer Strategy that offers less protection against loss than a 5% Buffer, a Floor Strategy that offers less protection against loss than a -20% Floor, or a Downside Participation Rate Strategy that offers less protection against loss than a 75% Downside Participation Rate.

The risk of loss of principal will be greater if you allocate money to a Strategy with a higher Downside Participation Rate, a lower Floor, or less of a Buffer. In the worst-case scenario, we could eliminate all of the current Indexed Strategies other than the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy and offer other new Indexed Strategies with higher Downside Participation Rates, more negative Floors, or lesser Buffers subject to the limits noted above. In those circumstances, your risk of loss of principal would increase and you may earn a return that is lower than the return your investments would have earned if they had been invested in the other Indexed Strategies that are currently available unless you had already limited your allocation to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy and remain in that Strategy. In addition, a reduction in the number of Indexed Strategies that are available may reduce your opportunity to increase your Contract value. If you choose to Surrender the Contract because of changes in the number and/or type of available Indexed Strategies, your Surrender may be subject to Early Withdrawal Charges, Daily Value Percentage adjustments, and taxes, and if before age 59<sup>1</sup>⁄<sub>2</sub>, a penalty tax. If you purchase another annuity contract, it may have different features, fees, and risks than this Contract.

**Early Withdrawal Risk** 

***Long Term Nature of the Contract***

The Contract is a deferred annuity, which means the Annuity Payout Benefit will begin on a future date. The Contract is unsuitable as a short-term savings vehicle. We designed the Contract to be a long-term investment that you can use to help build a retirement nest egg and provide income for retirement. The limitations, adjustments, and charges included in the Contract reflect its long-term nature.

The Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years, because of the assessment of Early Withdrawal Charges, or who plan to take withdrawals during Indexed Strategy Terms, because of the application of the Daily Value Percentage. Withdrawals are also subject to the possibility of adverse tax consequences.

***Loss Due to Negative Daily Value Percentage Adjustment***

Before the end of the Term, if you were to take a withdrawal, Surrender or annuitize the Contract, or elect a Performance Lock, or a Death Benefit becomes payable, the Daily Value Percentage calculation may cause the value of a Strategy to be even less than 50% of the money allocated to a Downside Participation Rate Strategy, or less than 90% of the money allocated to a -10% Floor Strategy, or less than the money allocated to a 0% Floor Strategy, or less than 10% for money allocated to a 10% Buffer Strategy, or less than 20% for money allocated to a 20% Buffer Strategy. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would suffer the loss of 100% of your principal and any prior earnings in a Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.**

***Loss of Principal Related to Early Withdrawal Charge***

There is also a risk of loss of principal and prior earnings if you Surrender your Contract or take a withdrawal from it during the first six Contract Years and an Early Withdrawal Charge applies. This risk exists for each Indexed Strategy. An Early Withdrawal Charge will reduce the value of the Strategy. This reduction may exceed any prior earnings.

**Indexed Strategies Risk** 

An investment in an Indexed Strategy is not an investment in the Index or in the investments tracked by the Index, and you will not own such investments. Your investment in the Indexed Strategies is subject to the risk of poor performance and can vary depending on the performance of the underlying Indices. Each Indexed Strategy will have its own unique risks, and you should review the available Indexed Strategies carefully before making an investment decision. When you invest in an Indexed Strategy, you will be exposed to certain risks, including the following:

**Limits on Positive Index Returns at End of Term** 

Any increase in the value of an Indexed Strategy at the end of a Term is based on the value of the underlying Index at the final Market Close of the Term. The Cap, Upside Participation Rate, combination thereof, or Trigger Rate may limit the positive Index return, if any, that may be credited to your Contract for a given Term.

If the Index rises for the Term, then at the end of the Term the value of an Indexed Strategy with a Cap but no Upside Participation Rate will be the Investment Base (reduced by the Daily Charge) increased by the rise in the Index, but never more than the Cap for that Term.

If the Index rises for the Term, then at the end of the Term the value of an Indexed Strategy with an Upside Participation Rate but no Cap will be the Investment Base (reduced by the Daily Charge) increased by your share of the rise in the Index. Your share of any rise in the Index is equal to the Upside Participation Rate for that Term multiplied by the rise in the Index.

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If the Index rises for the Term, then at the end of the Term the value of an Indexed Strategy with both an Upside Participation Rate and a Cap will be the Investment Base (reduced by the Daily Charge) increased by your share of the rise in the Index, but never more than the Cap for that Term. Your share of any rise in the Index is equal to the Upside Participation Rate for that Term multiplied by the rise in the Index.

If the Index rises for the Term, then at the end of the Term the value of an Indexed Strategy with a Trigger Rate will be the Investment Base (reduced by the Daily Charge) increased by the Trigger Rate for that Term. The Trigger Rate for a Term may be less than the rise in the Index.

**A Cap, Upside Participation Rate, combination thereof, or Trigger Rate may result in you earning less than the Index Return.** Due to these limitations, in many cases the return on money allocated to an Indexed Strategy with a Cap or Trigger Rate will not fully reflect the corresponding rise in the Index for the Term, and the return on money allocated to an Indexed Strategy with an Upside Participation Rate that is less than 100% will never reflect the entire corresponding rise in the Index for the Term.

A Cap, Upside Participation Rate, or Trigger Rate declared for a Term is for the entire Term for a particular Indexed Strategy. For a 2-year, 3-year or 6-year Indexed Strategy, a Cap, Upside Participation Rate, or Trigger Rate applies to the entire Term and is not an annual limit. Indexed Strategies can have different Buffers or Floors, which will impact the Cap, Upside Participation Rate, or Trigger Rate offered on the Indexed Strategies. The Buffer or Floor, as applicable, will never change for a specific Indexed Strategy. If a different Buffer or Floor is introduced, it will be offered on a new Indexed Strategy.

**Possibility of Losses Despite Limits on Negative Index Returns** 

The Buffer or Floor that is applicable to an Indexed Strategy only provides you with limited protection from negative Index performance at the end of a Term. You could lose a significant amount of your principal and/or prior earnings under the Contract despite these limits on negative Index returns.

Under an Indexed Strategy, the maximum amount of loss that you could experience due to negative Index performance at the end of a Term, after taking into account the minimum limits on Index loss currently provided under the Contract, would be up to 10% of the money allocated to a -10% Floor Strategy, 90% of the money allocated to a 10% Buffer Strategy, 80% of the money allocated to a 20% Buffer Strategy, or 50% of the money allocated to any other Indexed Strategy. You could lose a significant amount of money if an Index declines in value. At the end of a Term, we may stop offering any Indexed Strategy in our discretion. In the future, we may offer new Indexed Strategies that have less protection against negative Index performance. However, the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy will always be available.

You also bear the risk that continued negative Index returns may result in the loss of Account Value over multiple Terms. Given that the Floor or Buffer (as applicable) applies only to a single Term, if an Indexed Strategy is credited with losses for multiple Terms, the cumulative loss may exceed any single Term's stated limit of the Buffer or Floor. In addition, the limits on downside loss provided by the Floor or Buffer, as applicable, are for the entire Term for a particular Indexed Strategy and are not annual limits.

Before the end of a Term, if you make a withdrawal from an Indexed Strategy, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable, you or your beneficiaries (as applicable) will not receive the full protection of the Buffer or Floor in the calculation of the Daily Value Percentage. In order to receive the full protection, the particular transaction must occur on or after the last Market Close of the Term.

**Index Changes Over the Course of Term** 

At the end of a Term, unless you have made a Performance Lock election, we measure the Index change by comparing the Index value at the start of the Term to the Index value at the end day of the Term. This means that if the Index value is lower at the end of the Term, you may experience negative or flat performance even if the Index rose through some, or most, of the Term.

The Contract offers you the opportunity to allocate funds to Indexed Strategies for 1-year, 2-year, 3-year, or 6-year Terms. For Indexed Strategies with 2-year Terms, 3-year Terms, or 6-year Terms, changes in Strategy value as a direct result of Index performance will only be measured at the start and end of a 2-year period, 3-year period, or a 6-year period and not annually.

**Limits on Strategy Value Before End of Term** 

Before the end of a Term, we calculate the value of an Indexed Strategy using a Daily Value Percentage that is not tied directly to the underlying Index. The purpose of this calculation is to shift any potential investment loss on the Company's general account assets that support the indexed option guarantees from the Company to you when amounts are removed prematurely from an Indexed Strategy. The Daily Value Percentage is applied when you take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or when a Death Benefit becomes payable on a date other than the end of a Term. The Daily Value Percentage includes the prices of hypothetical options. Such option prices will vary from day to day. Any Strategy value calculated using the Daily Value Percentage before the end of a Term will almost always be less, perhaps significantly less, than the value suggested by the rise or fall of the Index. You will bear the risk that the Daily Value Percentage may decrease the Strategy value before the end of a Term. In extreme circumstances, an Indexed Strategy may have no value before the end of a Term, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.

The Daily Value Percentage includes deductions for the Residual Option Cost and the Trading Cost, which means that any Strategy value before the end of a Term will almost always be less, perhaps significantly less, than the value suggested by the rise or fall of the Index. Because the Residual Option Cost is a decreasing value, its negative impact on Strategy values will be more pronounced at the start of a Term than at the end of that Term. In addition, even if the Index rises, the Strategy value may be less than the Investment Base due to these deductions.

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The Daily Value Percentage is used to calculate the Strategy values if, before the end of a Term, you were to take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable. Accordingly, the Residual Option Cost and Trading Cost will have a negative effect on such values.

**For more information on how we determine the prices of hypothetical options, see "Option Prices" in the Contract Adjustments section of the Statement of Additional Information.** 

**No Increases in Value After Performance Lock** 

If you make a Performance Lock election, the Daily Value Percentage will be locked for the balance of the Term. This means that you will experience flat performance through the balance of the Term even if the Net Option Value increases, you will not benefit from the continued decline in the Residual Option Cost, your Strategy value will continue to be reduced to reflect the Daily Charge, and your ending Strategy value will not be based on the ending Index value on the last day of the Term.

You may access Daily Value Percentage information for the Indexed Strategies as of the previous day's Market Close by calling 1-800-789-6771 or by accessing your account online at <u>www.massmutualascend.com</u>. Before electing a Performance Lock, you should consult with a financial advisor.

A Performance Lock election is not effective until the second market close after the receipt of your request so you will not be able to determine the Daily Value Percentage that will be locked in. You bear the risk that the Daily Value Percentage that is locked in will be lower than the Daily Value Percentage you last obtained, and lower than the potential Strategy value you would receive at the end of the Term. If you exercise the Performance Lock feature at a time when the Strategy value has declined, you will lock in any loss, which could be significant.

**Limits on Reallocations** 

You can only reallocate money among Indexed Strategies at the end of a Term. If you want to take money out of an Indexed Strategy during a Term, you must Surrender your Contract or take a withdrawal. If you choose to Surrender your Contract or take a withdrawal, your Surrender or withdrawal may be subject to Early Withdrawal Charges, Daily Value Percentage adjustment, taxes, and if before age 59<sup>1</sup>⁄<sub>2</sub>, a penalty tax. A withdrawal before the end of a Term will proportionally reduce the Investment Base for an Indexed Strategy and the Death Benefit Return of Premium Guarantee, and this proportional reduction could be larger than the dollar amount of the withdrawal.

**Loss of Principal Related to Daily Charge** 

There is a risk of loss of principal and any prior earnings because the Daily Charge reduces your Investment Base, which lowers Strategy values. In addition, any Index increases will not apply to amounts deducted as Daily Charges because Daily Charges are subtracted from the Investment Base prior to calculating Strategy values. The Daily Charge will continue to be assessed against your Investment Base even if you have made a Performance Lock election.

You could realize losses even when the Index rises. This will occur when the amount of increase attributable to an Index rise is smaller than the amount needed to offset the Daily Charge.

For example, if the Investment Base of an Indexed Strategy at the start of a Term is $100,000, no withdrawals are taken during the Term, and the Daily Charge is 0.95% per year, $950 in Daily Charges will be deducted over the course of the Term, and the remaining Investment Base at the end of the Term will be $99,050 ($100,000 – $950). The Strategy value at the end of the Term will be equal to the remaining Investment Base ($99,050) increased or decreased based on the performance of the applicable Index and the applicable Positive Return Factor and Negative Return Factor rates at the end of the Term. Any gain for the Term will not apply to the $950 applied to pay the Daily Charges because the Daily Charges are subtracted from the Investment Base before calculating the Strategy value.

When the Index falls, the Daily Charge may cause you to realize losses that exceed the Floor or the Downside Participation Rate or reduce the effect of the Buffer.

**Effect of Surrenders** 

If you Surrender your Contract at any time during the first six Contract Years and an Early Withdrawal Charge applies, the amount payable will reflect a deduction for the charge. All or some portion of a withdrawal may be subject to federal and state income taxes and, if taken before age 59<sup>1</sup>⁄<sub>2</sub>, may be subject to a 10% federal penalty tax. If you Surrender your Contract at the end of a Term, the amount payable will reflect any rise or fall of the applicable Indexes over the Term, applicable Positive Return Factor rates and Negative Return Factor rates, and any Early Withdrawal Charge. If you Surrender your Contract before the end of a Term, the amount payable will reflect the applicable Daily Value Percentage, which could significantly reduce the amount you receive upon Surrender, and any Early Withdrawal Charge.

**Effect of All Withdrawals** 

If you take a withdrawal at any time, we will reduce your Account Value by an amount equal to that withdrawal. If you take a withdrawal during the first six Contract Years and an Early Withdrawal Charge applies, we will also reduce your Account Value by the amount of the Early Withdrawal Charge. A reduction in the Account Value will reduce the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit. In addition, a withdrawal will proportionally reduce the Death Benefit Return of Premium Guarantee, and this proportional reduction could be larger than the dollar amount of the withdrawal.

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Each withdrawal from an Indexed Strategy, including withdrawals available under the Free Withdrawal Allowance, withdrawals that qualify for a waiver of the Early Withdrawal Charge, withdrawals under an automated withdrawal program and withdrawals to satisfy a required distribution, will reduce the Strategy value by the dollar amount of the withdrawal and any related Early Withdrawal Charge. If taken from an Indexed Strategy before the end of a Term, the reduction in Strategy value is determined by the Daily Value Percentage on the date of the withdrawal, or on the locked Daily Value Percentage if you have made a Performance Lock election. Unless you have made a Performance Lock election (which, except for withdrawals, freezes the Strategy value until the end of the Term), a withdrawal before the end of the Term should almost always result in a greater reduction in Strategy value than if the withdrawal had happened at the end of the Term under otherwise identical circumstances. The Investment Base used to calculate the Strategy value through the end of that Term will be reduced in proportion to the reduction in the Strategy value. This means the dollar amount of the proportional reduction in the Investment Base will be more, maybe significantly more, than the dollar amount of the withdrawal and the Early Withdrawal Charge if the Strategy value immediately before the withdrawal is less than the Investment Base. A reduction in the Investment Base will limit the effect of any rise or fall in the Index for the remainder of the Term.

All or some portion of a withdrawal may be subject to federal and state income taxes and, if taken before age 59<sup>1</sup>⁄<sub>2</sub>, may be subject to a 10% federal penalty tax. For a further discussion of the tax treatment of withdrawals and Surrenders, please see the Federal Tax Considerations section on page 73.

Early Withdrawal Charges will reduce Indexed Strategy values and may result in losses that exceed the Floor or the Downside Participation Rate or reduce the protection of the Buffer.

**Timing and Effect of Withdrawals Before End of Term** 

Before taking a withdrawal, you should consider the dates on which the Term(s) of your Indexed Strategies end relative to the timing of that withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you take a withdrawal from an Indexed Strategy before the end of a Term, we will immediately reduce the
Investment Base for that Indexed Strategy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The reduction will be proportional to the reduction in the Strategy value, which means that the proportional
reduction in the Investment Base could be larger than the dollar amount of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reductions to the Investment Base will have a negative effect on any increases in the Indexed Strategy value for
the remainder of that Term, but will reduce any decreases in the Indexed Strategy value for the remainder of that Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Once the Investment Base for an Indexed Strategy is reduced due to a withdrawal before the end of a Term, it will
not increase at any time during the remainder of that Term.

Each withdrawal from an Indexed Strategy before the end of a Term, including withdrawals available under the Free Withdrawal Allowance, withdrawals that qualify for a waiver of the Early Withdrawal Charge, withdrawals under an automated withdrawal program and withdrawals to satisfy a required distribution, will proportionally reduce the Investment Base.

**In order for you to avoid the application of the Daily Value Percentage in calculating the value of an Indexed Strategy, you need to schedule withdrawals to coincide with Term end dates. The Contract is intended for long-term investment purposes and the Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years, because of the assessment of Early Withdrawal Charges, or who plan to take withdrawals during Indexed Strategy Terms, because of the application of the Daily Value Percentage adjustment.** 

**No Ability to Determine Contract Values in Advance** 

We will process any withdrawal request at the first Market Close after receipt of your Request in Good Order. This means you will not be able to determine in advance the amount of the proportional reduction in the Investment Base due to the withdrawal. Likewise, you will not be able to determine in advance the amount payable upon Surrender, to be applied to the Annuity Payout Benefit or payable as the Death Benefit.

A Performance Lock election is effective on the second Market Close after receipt of your Request in Good Order. This means you will not be able to determine in advance the locked Daily Value Percentage that will be applicable to the Indexed Strategy at the time you make a Performance Lock election. The Daily Value Percentage may be higher or lower at the time the Performance Lock election becomes effective than it was when you submitted your Request in Good Order.

**Changes in Positive Return Factors and Trading Cost** 

We set the Positive Return Factor rates (Caps, Upside Participation Rates, and Trigger Rates) for each new Term of the Indexed Strategies. The Positive Return Factor rate(s) for a new Term of an Indexed Strategy may be lower than its Positive Return Factor rate(s) for the current Term. A Cap may be as low as 1%. A Trigger Rate may be as low as 1%. An Upside Participation Rate may be as low as 5%. You risk the possibility that the Positive Return Factor rate(s) for a new Term may be lower than you would find acceptable.

You bear the risk of any negative effect on the Daily Value Percentage and Indexed Strategy values of an increase in the Trading Cost.

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**Unavailable Indexed Strategies** 

At the end of a Term, we may stop offering any Indexed Strategy other than the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy. Consequently, any other Indexed Strategy you selected may not be available after the end of a Term. In such an event, the Company will amend the prospectus.

The 6-Year Indexed Strategies are not available for Terms beginning after the first Contract Year. The 3-Year Indexed Strategies are not available for Terms beginning after the fourth Contract Year.

When an Indexed Strategy is unavailable for the next Term, you may choose to reallocate the funds held in that Strategy. At least 30 days before the end of each Term, we will send you a written notice with information about the Indexed Strategies that will be available for the next Term.

We may establish minimum and maximum amounts or percentages that may be applied to a given Indexed Strategy. This means that an Indexed Strategy you selected may not be available after the end of a Term because the amount to be applied to that Strategy is less than the minimum we set for the new Term. Likewise, the amount to be applied to an Indexed Strategy may be limited by the maximum we set for the new Term, and the amount over that maximum would be reallocated. At least 30 days before the end of each Term, we will send you a written notice with information about any maximum or minimum that will apply for the next Term. No minimum or maximum shall apply to the S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy. If funds cannot be applied to a Strategy due to the minimum or maximum we set for the next Term and you do not request a reallocation of those funds, we will apply the funds for the new Term in the same manner as if the given Indexed Strategy were no longer offered.

If at the end of a Term, an amount cannot be applied to a new Term of that same Indexed Strategy because the Strategy will not be available or because the amount is under the minimum or over the maximum for that Strategy, and you do not request a permissible reallocation of that amount, we will reallocate that amount to another Indexed Strategy as described in the Default Strategy Allocations section on page 36. In these cases, any funds that we allocate to another Indexed Strategy may earn a return that is lower than the return those funds would have earned if they had been applied to the Indexed Strategy you selected.

If you choose to Surrender the Contract because of changes in the number and/or type of available Indexed Strategies, or because you fail to request a permissible reallocation and you are unhappy with the default allocation, your Surrender may be subject to Daily Value Percentage adjustments, Early Withdrawal Charges, and taxes, and if taken before age 59<sup>1</sup>⁄<sub>2</sub>, a penalty tax. There may be tax consequences if you Surrender your Contract. You should seek advice on tax questions based on your particular circumstances from a tax advisor.

**Replacement of an Index** 

We may replace or adjust an Index or rate, or the specified market to measure it, if the external market index or rate stops being published or the publication schedule is changed, the calculation of the external market index or rate is changed significantly, the investment fund terminates or there is a significant change in its investment objectives, strategies, or operations, the investment fund or commodity stops being traded on a specified market or the specified market declines in importance, we lose our license or permission to use the index or rate, we determine that hedging instruments are difficult to acquire or the cost of hedging becomes excessive, or under other circumstances approved by regulators. We may do so at the end of a Term or during a Term. If we replace or adjust an Index, we will provide notice to you and amend the prospectus. If we replace or adjust an Index during a Term, we will calculate any rise or fall in the Index using the old Index up until the replacement date. After the replacement or adjustment date, we will calculate any rise or fall in the Index using the new Index, but with a modified start of Term value for the new Index. The modified start of Term value for the new Index will reflect the rise or fall in the Index for the old Index from the start of the Term to the replacement or adjustment date. The performance of the new Index may not be as good as the performance of the old Index. As a result, funds allocated to an Indexed Strategy may earn a return that is lower than the return they would have earned or experience losses greater than the losses they would have experienced if there had been no replacement or adjustment.

**Involuntary Termination of Contract** 

If your Account Value on any anniversary of the initial Strategy Application Date is below the minimum value of $5,000 for any reason, we may terminate your Contract on that anniversary. If your Contract has Terms that end on the same date because you made only one Purchase Payment, any involuntary termination will occur on that date. If your Contract has Terms that end on different dates because you made more than one Purchase Payment, any involuntary termination will occur on one of those dates, which will be the end of one Term but not the end of the other Terms. In this case, the Surrender Value payable upon termination of your Contract will reflect the Daily Value Percentages used to calculate the values of Indexed Strategies with Terms that are not ending on the termination date.

**No Direct Investment in S&P 500 Index** 

When you allocate money to an Indexed Strategy that uses the S&P 500 Index, you will not be investing in that Index, or in any stock included in that Index. The S&P 500 Index is calculated without taking into account dividends paid on stocks that make up the S&P 500 Index. In addition, because the performance of an S&P 500 Indexed Strategy is linked to the performance of the S&P 500 Index and not the performance of the stocks included in the Index, your return may be less than that of a direct investment in such stocks. In addition, due to the same limitations, your return may be less than that of a direct investment in a fund that tracks the S&P 500 Index. Due to the Positive Return Factors, any positive return may be less than the performance of the S&P 500 Index or a direct investment in the stocks included in the Index.

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**No Direct Investment in an iShares ETF** 

When you allocate money to an Indexed Strategy that uses the iShares MSCI EAFE ETF or iShares U.S. Real Estate ETF, you will not be investing in that exchange-traded fund, the securities or other assets held by the fund, in any underlying index tracked by the fund, or in the securities or other assets held by such underlying index. In addition, because the performance of an iShares ETF is linked to the performance of the share price of the ETF, which is determined by trading on the exchange, and not the performance of its investment portfolio, its underlying index or the components of that index, your return may be less than that of a direct investment in the securities or other assets held by the fund or a direct investment in the components of the fund's underlying index. In addition, due to the same limitations, your return may be less than that of a direct investment in the fund. Due to the Positive Return Factors, any positive return may be less than the performance of the fund or its investment portfolio.

**No Direct Investment in SPDR Gold Shares ETF** 

When you allocate money to an Indexed Strategy that uses the SPDR Gold Shares ETF, you will not be investing in that exchange-traded fund or in gold. In addition, because the performance of the SPDR Gold Shares ETF is linked to the performance of the share price of the ETF, which is determined by trading on the exchange, and not the performance of its investment portfolio, its underlying index or the components of that index, your return may be less than that of a direct investment in the securities or other assets held by the fund or a direct investment in the components of the fund's underlying index. In addition, due to the same limitations, your return may be less than that of a direct investment in the fund. Due to the Positive Return Factors, any positive return may be less than the performance of the fund or its investment portfolio.

**No Direct Investment in First Trust Barclays Edge Index** 

When you allocate money to an Indexed Strategy that uses the First Trust Barclays Edge Index, you will not be investing in that Index, or in any stock or bonds included in that Index. The First Trust Barclays Edge Index is calculated assuming that dividends paid on stocks that make up the First Trust Barclays Edge Index are reinvested. In addition, because the performance of the First Trust Barclays Edge Indexed Strategy is linked to the performance of the First Trust Barclays Edge Index and not the performance of the stocks and bonds included in the Index, and because the Index is an "excess return index" that subtracts a risk-free interest rate from the price and dividend return of the securities, your return will be less than that of a direct investment in such stocks and bonds. Due to the Positive Return Factors, any positive return may be less than the performance of the First Trust Barclays Edge Index.

**No Direct Investment in Russell 2000 Index** 

When you allocate money to an Indexed Strategy that uses the Russell 2000 Index, you will not be investing in that Index, or in any stock included in that Index. The Russell 2000 Index is calculated without taking into account dividends paid on stocks that make up the Russell 2000 Index. In addition, because the performance of a Russell 2000 Indexed Strategy is linked to the performance of the Russell 2000 Index and not the performance of the stocks included in the Index, your return may be less than that of a direct investment in such stocks. In addition, due to the same limitations, your return may be less than that of a direct investment in a fund that tracks the Russell 2000 Index. Due to the Positive Return Factors, any positive return may be less than the performance of the fund or its investment portfolio.

**Divergence of Performance** 

The performance of an Indexed Strategy will diverge from the performance of the underlying Index because changes in the value of an Indexed Strategy at the end of a Term are subject to Positive Return Factors and Negative Return Factors, or the Index change required to qualify for the Trigger Rate and because changes in the value of an Indexed Strategy before the end of a Term are based on the Daily Value Percentage.

**Market Risk Related to Indexes** 

Money allocated to an Indexed Strategy that uses the S&P 500 Index, Russell 2000 Index, or the First Trust Barclays Edge Index is subject to the risk that the market value of the underlying securities that comprise the applicable Index may decline over a Term. Likewise, money allocated to an Indexed Strategy that uses the iShares MSCI EAFE ETF, the iShares U.S. Real Estate ETF, or the SPDR Gold Shares ETF is subject to the risk that the fund's share price may decline over a Term. The level of the S&P 500 Index, Russell 2000 Index, and the First Trust Barclays Edge Index and the share prices of the SPDR Gold Shares ETF, iShares MSCI EAFE ETF and the iShares U.S. Real Estate ETF may be volatile. Any such market loss in an amount up to the Downside Participation Rate will be reflected in the Indexed Strategy value. This risk applies even if you do not take a withdrawal before the end of a Term. Due to the Positive Return Factors, any positive return may be less than that of a direct investment in such Index.

Geopolitical conflicts could also create economic disruption, including increased market volatility, and presents economic uncertainty. The full impact and duration of these events are difficult to determine in advance. Any such impact could adversely affect the performance of the securities that comprise the Indexes and may lead to losses on your investment in the Indexed Strategies.

The historical performance of an Index does not guarantee future results.

***S&P 500 Index***. The S&P 500<sup>®</sup> Index is designed to reflect the large-cap sector of the U.S. equity market and, due to its composition, it also represents the U.S. equity market in general. Any positive change in the S&P 500 Index over a Term will be lower than the total return on an investment in the stocks that comprise the S&P 500 Index because such total return will reflect dividend payments on those stocks and the S&P 500 Index will not reflect those dividend payments. More information about the S&P 500 Index is set out in the Indexes section of this prospectus.

The S&P 500 Index is subject to multiple principal investment risks, such as those related to its investments in large-capitalization companies. The S&P 500 Index tracks a subset of the U.S. stock market, which could cause the S&P 500 Index to perform differently from the overall stock market. In general, large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of successful smaller companies. In addition, the S&P 500 Index may, at times, become focused in stocks of a particular market sector, which would subject the S&P 500 Index to proportionately higher exposure to the risks of that sector.

***iShares MSCI EAFE ETF***. The iShares MSCI EAFE ETF is an exchange traded fund that seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada (MSCI EAFE Index). This underlying index includes stocks from Europe, Australasia, and the Far East. It may include large- or mid-capitalization companies. The share price of the iShares MSCI EAFE ETF is tied to the performance of large- and mid-capitalization developed market equites, excluding the U.S. and Canada. The share price may not replicate the performance of the fund, its underlying index, or the components of that index. More information about the iShares MSCI EAFE ETF is set out in the Indexes section of this prospectus. To learn more about the iShares MSCI EAFE ETF, visit <u>iShares.com</u> and search ticker symbol EFA.

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The fund is subject to several principal investment risks, such as those related to its investments in large-capitalization and mid-capitalization foreign companies. In general, large-capitalization companies may be unable to respond quickly to new competitive challenges, and may not be able to attain the high growth rate of successful smaller companies. Generally, the securities of mid-capitalization companies may be more volatile and may involve more risk than the securities of larger companies. Mid-capitalization companies are also more likely to fail than larger companies. Securities issued by non-U.S. companies are subject to the risks related to investments in foreign markets (*e.g.*, increased price volatility; changing currency exchange rates; and greater political, regulatory, and economic uncertainty). Because the fund is an ETF, it is also exposed to the risks associated with the operation of any ETF. The value of its shares, which are valued based on their trading prices in the secondary market, may change rapidly and unpredictably and may trade at premiums or discounts to the fund's net asset value.

The principal investment risks of the fund are described in the fund's prospectus, including the following risks: asset class risk, authorized participant concentration risk, concentration risk, currency risk, cybersecurity risk, equity securities risk, financials sector risk, geographic risk, index-related risk, issuer risk, large-capitalization companies risk, management risk, market risk, market trading risk, mid-capitalization companies risk, national closed market trading risk, non-U.S. securities risk, operational risk, passive investment risk, reliance on trading partners risk, risk of investing in developed countries, risk of investing in Japan, securities lending risk, structural risk, tracking error risk and valuation risk.

***iShares U.S. Real Estate ETF****.* The iShares U.S. Real Estate ETF is an exchange traded fund that seeks to track the investment results of an index composed of U.S. equities in the real estate sector (Dow Jones U.S. Real Estate Index). This underlying index may include large-, mid- or small-capitalization companies. A significant portion of the underlying index is represented by real estate investment trusts (REITs), but the components are likely to change over time. The share price of the iShares U.S. Real Estate ETF is tied to the performance of the real estate sector. The share price may not replicate the performance of the fund, its underlying index, or the components of that index. More information about the iShares U.S. Real Estate ETF is set out in the Indexes section of this prospectus. To learn more about the iShares U.S. Real Estate ETF, visit iShares.com and search ticker symbol IYR.

The fund is subject to several principal investment risks, such as those related to its investments in large-, mid- and small-capitalization U.S. companies in the real estate sector. In general, large-capitalization companies may be unable to respond quickly to new competitive challenges, and may not be able to attain the high growth rate of successful smaller companies. Generally, the securities of smaller companies (including mid- and small-capitalization companies) may be more volatile and may involve more risk than the securities of larger companies. Smaller companies are also more likely to fail than larger companies. Companies that invest in real estate are highly sensitive to the risks of owning real estate, to general and local economic conditions and developments in the real estate market, and to changes in interest rates. Many companies that invest in real estate utilize leverage (and some may be highly leveraged), which increases investment risk, and could potentially magnify the fund's losses. Because the fund is an ETF, it is also exposed to the risks associated with the operation of any ETF. The value of its shares, which are valued based on their trading prices in the secondary market, may change rapidly and unpredictably and may trade at premiums or discounts to the fund's net asset value.

The principal investment risks of the fund are described in the fund's prospectus, including the following risks: asset class risk, authorized participant concentration risk, concentration risk, cybersecurity risk, dividend risk, equity securities risk, index-related risk, issuer risk, large-capitalization companies risk, management risk, market risk, market trading risk, mid-capitalization companies risk, operational risk, passive investment risk, real estate investment risk, risk of investing in the United States, securities lending risk and tracking error risk.

***SPDR Gold Shares ETF*.** The SPDR Gold Shares ETF represents units of beneficial interest in, and ownership of, the SPDR Gold Trust, an exchange traded fund that holds gold bullion. The investment objective of the trust is for the shares to reflect the performance of the price of gold bullion, less the trust's expenses. The shares are designed to mirror as closely as possible the price of gold, and the value of the shares relates directly to the value of the gold held by the trust, less its liabilities. The price of gold has fluctuated widely over the past several years and the shares

have experienced significant price fluctuations. The value of the gold held by the trust is determined using the London Bullion Market Association (LBMA) Gold Price PM. The Gold Shares trade on the NYSE Arca under the symbol GLD. For more information, visit <u>www.spdrgoldshares.com</u>.

The fund is subject to several principal investment risks related to the price of gold. The price of gold has fluctuated widely over the past several years and the shares have experienced significant price fluctuations. Several factors may affect the price of gold, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Global gold supply and demand, which is influenced by such factors as gold's uses in jewelry, technology,
and industrial applications, purchases made by investors in the form of bars, coins, and other gold products, forward selling by gold producers, purchases made by gold producers to unwind gold hedge positions, central bank purchases and sales, and
production and cost levels in major gold producing countries such as China, the United States and Australia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Global or regional political, economic, or financial events and situations, especially those unexpected in
nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investors' expectations with respect to the rate of inflation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Currency exchange rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Interest rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment and trading activities of hedge funds and commodity funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other economic variables such as income growth, economic output, and monetary policies.

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The principal investment risks of the fund are described in the fund's prospectus, including the following risks: price risk, passive investment risk, trading market risk, risk of loss, damage, theft, or restriction on access, and risks related to the fund's ETF structure.

***First Trust Barclays Edge Index*.** The First Trust Barclays Edge Index is designed to combine capital strength and value equity investment methodologies with a mix of US Treasury futures indexes for the potential to provide stable returns over time. The First Trust Barclays Edge Index consists of an equity component that combines stocks from the Capital Strength Index and the Value Line<sup>®</sup> Dividend Index. The Capital Strength Index starts with the largest 500 companies in the NASDAQ US benchmark index and then reduces the selection universe by screening for companies that meet minimum criteria including cash and/or short-term investments on their balance sheets, low debt-to-market cap ratios and attractive return-on-equity. It then selects the top 50 names from this smaller universe based on low historical volatility. The Value Line Dividend Index starts with the universe of stocks published in its The Value Line Investment Survey publication and then selects those with a Value Line<sup>®</sup> Safety Rank of 1 or 2, with attractive dividends and market cap of one billion dollars or above. It then equally weights all stocks that meet those conditions (generally, around 160-200 stocks). The First Trust Barclays Edge Index then combines the stocks represented in The Capital Strength Index and the Value Line<sup>®</sup> Dividend Index with an equal-weight assigned to each underlying index and rebalanced back to equal-weight on a monthly basis. Furthermore, since the index is on an excess return basis (i.e., it returns the index performance in excess of risk-free rates), the risk-free return is deducted from the equity underliers. The risk-free rate used in this calculation is the U.S. Fed Funds Rate published by the Federal Reserve of New York (ticker: FEDL01) for each day divided by 360 as outlined in the Index Rulebook. No such adjustment is needed to the US Treasury futures indexes as these securities returns are naturally on an excess return basis.

The Index uses an optimizer to evaluate its exposure to stocks and US Treasury futures indexes on a daily basis to target a 7% volatility level. This volatility control mechanism aims to target or limit the volatility of the index return over time by adjusting the exposure of the index constituents through a rules-based process called mean-variance optimization. The optimizer defines risk using both shorter- and longer-term measures of historical realized volatility. It then seeks to determine the allocations between the equity and US Treasury futures index that produce the highest expected return for the target volatility level, subject to constraints. Depending on the constraints of the optimizer at the time, the Index may or may not allocate to the US Treasury futures indexes. When the volatility measures are low, the index can have exposure greater than 100%. However, the optimizer is constrained such that the exposure can never be greater than 225%. Likewise, when volatility is high, the index exposure can be less than 100%. In addition, the First Trust Barclays Edge Index generally rebalances based on end-of-day values in the event there is a deviation in the index component weights of 10% or more, on an absolute basis, from the previous index rebalance value.

The performance of the First Trust Barclays Edge Index reflects the deduction of operating costs and rebalancing costs from the valuation of the underlying indexes. These costs, deducted as an annualized percentage on a daily basis, are fixed for the underlying indexes. The operating costs for the First Trust Barclays Edge Index range from 0.20% to 0.60%, and the rebalancing costs for the First Trust Barclays Edge Index range from 0.02% to 0.03%. The operating costs represent an estimate of the costs that would be incurred to buy and sell the index components. The rebalancing costs represent an estimate of the costs that would be incurred each time the Index rebalances due to changes in weightings of the Index components. The deduction of these costs occurs at the First Trust Barclays Edge Index level (i.e., the return on the First Trust Barclays Edge Index is reduced based on the applicable operating and rebalancing costs).

The principal risks of the First Trust Barclays Edge Index include:

DEBT SECURITIES RISK. Investments in debt securities subject the holder to the credit risk of the issuer. Credit risk refers to the possibility that the issuer or other obligor of a security will not be able or willing to make payments of interest and principal when due. Generally, the value of debt securities will change inversely with changes in interest rates. To the extent that interest rates rise, certain underlying obligations may be paid off substantially slower than originally anticipated and the value of those securities may fall sharply. During periods of falling interest rates, the income received by a portfolio may decline. If the principal on a debt security is prepaid before expected, the prepayments of principal may have to be reinvested in obligations paying interest at lower rates. Debt securities generally do not trade on a securities exchange making them generally less liquid and more difficult to value than common stock.

EQUITY SECURITIES RISK. Equity securities prices fluctuate for several reasons, including changes in investors' perceptions of the financial condition of an issuer or the general condition of the relevant equity market, such as market volatility, or when political or economic events affecting an issuer occur. Common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase. Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur in the equity market as a whole, or they may occur in only a particular country, company, industry, or sector of the market.

INFLATION RISK. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of a portfolio's assets and distributions may decline.

INTEREST RATE RISK. Interest rate risk is the risk that the value of the debt securities in an underlying portfolio will decline because of rising market interest rates. Interest rate risk is generally lower for shorter term debt securities and higher for longer-term debt securities. A portfolio may be subject to a greater risk of rising interest rates than would normally be the case due to the current period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market reaction to those initiatives. Higher market interest rates may reduce returns for the First Trust Barclays Edge Index. Duration is a reasonably accurate measure of a debt security's price sensitivity to changes in interest rates and a common measure of interest rate risk. Duration measures a debt security's expected life on a present value basis, taking into account the debt security's yield, interest payments and final maturity. In general, duration represents the expected percentage change in the value of a security for an immediate 1% change in interest rates. For example, the price of a debt security with a three-year duration would be expected to drop by approximately 3% in response to a 1% increase in interest rates. Therefore, prices of debt securities with shorter durations tend to be less sensitive to interest rate changes than debt securities with longer durations. As the value of a debt security changes over time, so will its duration.

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MARKET RISK. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices. In addition, local, regional, or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on the market and investment portfolios. For example, the coronavirus disease 2019 (COVID-19) global pandemic and the aggressive responses taken by many governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines or similar restrictions, had negative impacts, and in many cases severe impacts, on markets worldwide. As this global pandemic illustrated, such events may affect certain geographic regions, countries, sectors, and industries more significantly than others. These events also adversely affect the prices and liquidity of portfolio securities or other instruments and could result in disruptions in the trading markets.

REIT RISK. REITs typically own and operate income-producing real estate, such as residential or commercial buildings, or real-estate related assets, including mortgages. As a result, investments in REITs are subject to the risks associated with investing in real estate, which may include, but are not limited to: fluctuations in the value of underlying properties; defaults by borrowers or tenants; market saturation; changes in general and local operating expenses; and other economic, political or regulatory occurrences affecting companies in the real estate sector. REITs are also subject to the risk that the real estate market may experience an economic downturn generally, which may have a material effect on the real estate in which the REITs invest and their underlying portfolio securities. REITs may have also a relatively small market capitalization which may result in their shares experiencing less market liquidity and greater price volatility than larger companies. Increases in interest rates typically lower the present value of a REIT's future earnings stream, and may make financing property purchases and improvements more costly. Because the market price of REIT stocks may change based upon investors' collective perceptions of future earnings, the value of a portfolio that holds REITs will generally decline when investors anticipate or experience rising interest rates.

U.S. GOVERNMENT SECURITIES RISK. U.S. government securities are subject to interest rate risk but generally do not involve the credit risks associated with investments in other types of debt securities. As a result, the yields available from U.S. government securities are generally lower than the yields available from other debt securities. U.S. government securities are guaranteed only as to the timely payment of interest and the payment of principal when held to maturity. While securities issued or guaranteed by U.S. federal government agencies (such as Ginnie Mae) are backed by the full faith and credit of the U.S. Department of the Treasury, securities issued by government sponsored entities (such as Fannie Mae and Freddie Mac) are solely the obligation of the issuer and generally do not carry any guarantee from the U.S. government.

VOLATILITY CONTROL RISK. Volatility is a measure of the extent of variation in the returns of an asset over a period of time. The Index may reduce its exposure to one or more markets during periods of volatility in order to mitigate volatility in the value of the Index. During times when the Index reduces its market exposure in response to volatility, the Index will not fully participate in the growth in that market. Reducing market exposure during periods of volatility may mitigate the impact of short-term, significant market fluctuations in the Index's return, but may also cause the Index to not fully participate in recoveries in those markets. There is no guarantee that any volatility control methodology will be successful.

***Russell 2000 Index*.** The Russell 2000<sup>®</sup> Index measures the performance of the small-cap segment of the US equity universe. The Russell 2000<sup>®</sup> Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. Any positive change in the Russell 2000<sup>®</sup> Index over a Term will be lower than the total return on an investment in the stocks that comprise the Russell 2000<sup>®</sup> Index because such total return will reflect dividend payments on those stocks and the Russell 2000<sup>®</sup> Index will not reflect those dividend payments.

The Russell 2000<sup>®</sup> Index includes approximately 2,000 of the smallest companies, based on a combination of their market cap and current index membership, that are included in the Russell 3000<sup>®</sup> Index. The Russell 3000<sup>®</sup> Index measures the performance of the largest 3,000 US companies, which represents the vast majority of the investable US equity market.

The Russell 2000 Index is subject to multiple principal investment risks, such as those related to its investments in small-cap companies. Compared to mid- and large-cap companies, small-cap companies may be less stable and more susceptible to adverse developments, and their securities may be more volatile. The Russell 2000 Index tracks a subset of the U.S. stock market, which could cause the Russell 2000 Index to perform differently from the overall stock market. Market conditions could cause the small-cap category to fall out of favor with investors. Stocks of smaller companies may be more volatile than those of larger companies because of, among other things, narrower product lines and more limited financial resources. In addition, there is typically less publicly available information about small capitalization companies, and their stocks may have a more limited trading market than stocks of larger companies.

**Market Risk Related to Option Prices** 

Before the end of a Term, money allocated to an Indexed Strategy is subject to the risk that changes in the related option prices may have a negative effect on the value of the Indexed Strategy. This risk applies only if you Surrender your Contract or take a withdrawal before the end of a Term.

**Performance Lock Risk** 

If you make a Performance Lock election, you will no longer participate in the positive or negative performance of the Index over the remainder of the Term. This means the value of the Indexed Strategy cannot increase (but will decrease by the Daily Charge) for the remainder of the Term, even if the Index rises over the remainder of the Term.

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A Performance Lock election is effective on the second Market Close after receipt of your Request in Good Order. This means you will not be able to determine in advance the gain or loss applicable to the Indexed Strategy when electing a Performance Lock. The gain or loss may be higher or lower at the time the Performance Lock election goes effective than it was when you submitted your Request in Good Order.

**Regulatory Risk** 

MassMutual Ascend Life is not an investment company. Neither MassMutual Ascend Life nor the separate account that we established in connection with the Contracts is registered as an investment company under the Investment Company Act of 1940. The protections provided to investors by that Act are not applicable to the Contract.

**Insurance Company Risk** 

No company other than MassMutual Ascend Life has any legal responsibility to pay amounts owed under the Contract. You should look to the financial strength of MassMutual Ascend Life for its claims-paying ability.

Our general account assets fund the guarantees provided in the Contracts. The assets are subject to our general business operation liabilities and claims of our creditors and may lose value. We established a non-unitized separate account for the purpose of supporting our obligation to adjust the Indexed Strategy values based on the Daily Value Percentage or rise or fall of the Index. The assets in the non-unitized separate account are not chargeable with liabilities arising out of any other business that we conduct but may lose value. The non-unitized separate account differs from the unitized separate accounts that support our variable annuity contracts. As a result, unlike the owner of a traditional variable annuity who has a beneficial interest in, and participates in the performance of, the assets of the related unitized separate account, you do not have any interest in or claim on the assets in the non-unitized separate account and you will not participate in any way in the performance of assets held in that account.

**Business Disruption and Cybersecurity Risks** 

We rely heavily on technology, including interconnected computer systems and data storage networks and digital communications, to conduct our business. Because our business is highly dependent upon the effective operation of our computer systems and those of our service providers and other business partners, our business is vulnerable to disruptions from utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), and cyberattacks. Cyberattacks may be systemic (e.g., affecting the internet, cloud services, or other infrastructure) or targeted (e.g., failures in or breach of our systems or those of third parties on whom we rely, including ransomware and malware attacks). Cybersecurity risks include, among other things, the loss, theft, misuse, corruption, and destruction of data maintained online or digitally, interference with or denial of service, attacks on our websites (or the websites of third parties on whom we rely), other operational disruption and unauthorized release, use or abuse of confidential customer information. The risk of cyberattacks may be higher during periods of geopolitical turmoil. Due to the increasing sophistication of cyberattacks, a cybersecurity breach could occur and persist for an extended period of time without detection. Systems failures and cyberattacks, as well as, any other catastrophic event, including natural and manmade disasters, public health emergencies, pandemic diseases, terrorist attacks, floods or severe storms affecting us, any third-party administrator, intermediaries, and other affiliated or third-party service providers may adversely affect us, our business operations and your Account Value and interfere with our ability to process contract transactions and calculate Account Values. Systems failures and cyberattacks may also interfere with our processing of contract transactions, including the processing of orders from our website, impact our ability to calculate Account Values, cause the release or possible destruction of confidential customer and/or business information, impede order processing or cause other operational issues, subject us and/or our service providers and intermediaries to regulatory fines, litigation and financial losses and/or cause reputational damage. Cybersecurity risks may also impact the issuers of securities of which the Indices are comprised, which may cause the Indices to lose value. The preventative actions we take to reduce the frequency and severity of cybersecurity incidents and protect our computer systems may be insufficient to prevent a cybersecurity breach from impacting our operations or your Account Value. There can be no assurance that we or our service providers and intermediaries will be able to avoid cybersecurity breaches affecting your Contract.

In addition, we are also exposed to risks related to natural and man-made disasters, including, but not limited to, storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts, or any other event, which could adversely affect our ability to conduct business. A natural or man-made disaster, including a pandemic such as COVID-19, could result in our workforce, and/or employees of service providers and/or third-party administrators, being compromised and unable or unwilling to fully perform their responsibilities, which could likewise result in interruptions in our service. This could interfere with our processing of contract transactions, including processing orders from owners, impact our ability to calculate Account Value, or have other adverse impacts on our operations. These events may also negatively affect our service providers and intermediaries, and issuers of securities of which the Indices are comprised, which may cause the Indices to lose value. There can be no assurance that we or our service providers and intermediaries will be able to avoid negative impacts associated with natural and man-made disasters.

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**BENEFITS AVAILABLE UNDER THE CONTRACT** 

The following table summarizes the information about the benefits available under the Contract.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Current<br>Charge** | **Maximum<br>Charge** | **Brief Description of Restrictions / Limitations** |
| **Death Benefit Return of Premium Guarantee** | Pays a Death Benefit Amount of the greater of the Account Value or the Death Benefit Return of Premium Guarantee Amount if the Owner dies during the Accumulation Period | No charge | N/A | • Only available during Accumulation Period<br>• Withdrawals may result in a reduction of the Death Benefit Return of Premium Guarantee that is greater than the amount of the withdrawal<br>• If the Death Benefit value becomes payable before the end of a Term, it will be subject to a Daily Value Percentage adjustment, or the locked Daily Value percentage if you have made a Performance Lock election |
| **Free Withdrawal Allowance** | Allows owner to withdraw some money from the Contract without an Early Withdrawal Charge | No charge | N/A | • Only available during Accumulation Period<br>• During the first Contract Year, the Free Withdrawal Allowance is 10% of the total Purchase Payments<br>• After the first Contract Year, the Free Withdrawal Allowance is 10% of the Account Value as of the most recent Contract Anniversary<br>• Withdrawals will reduce the Contract Value and Death Benefit, perhaps significantly<br>• Withdrawals from an Indexed Strategy before the end of a Term will trigger a Daily Value Percentage adjustment.<br>• Withdrawals may be subject to taxes and penalties |
| **Extended Care Waiver** | Surrender or withdrawal may be made without an Early Withdrawal Charge if the Owner is confined to a qualifying licensed hospital or long-term care facility for at least 90 days | No charge | N/A | • Only available during the Accumulation Period<br>• First day of confinement must be after the Contract Effective Date (or for Contracts issued before May 21, 2025, on or after the first Contract Anniversary)<br>• The confinement must continue for at least 90 consecutive days after the later of the first contract anniversary or the first date of confinement<br>• Surrender or withdrawal must be at least 90 days after first Contract Anniversary<br>• Not available in all states |
| **Terminal Illness Waiver** | Surrender or withdrawal may be made without an Early Withdrawal Charge or if the Owner is diagnosed with a terminal illness by a physician | No charge | N/A | • Only available during the Accumulation Period<br>• The diagnosis must be rendered after the Contract Effective Date (or for Contracts issued before May 21, 2025, on or after the first Contract Anniversary)<br>• Surrender or withdrawal must be on or after first Contract Anniversary<br>• The Owner's life expectancy must be less than 12 months from the date of diagnosis<br>• Not available in all states |
| **Performance Lock** | Permits you to lock in the Daily Value Percentage of an Indexed Strategy before the end of the Term. | No charge | N/A | • Only available during the Accumulation Period<br>• May only be used with S&P 500 Indexed Strategies (excluding the 0% Floor Cap Strategy and Trigger Strategies), the Russell 2000 Indexed Strategies, and the First Trust Barclays Edge Indexed Strategies<br>• You may only make a Performance Lock election for an eligible Indexed Strategy once per Term.<br>• A Performance Lock for an Indexed Strategy with a 2-, 3- or 6-year Term will always cause the Term to end on the next anniversary of the Term, regardless of how many years are left in the Term<br>• If you elect a Performance Lock, you will not be able to reallocate the locked value until the end of a Term.<br>• Not available for Contracts issued in Missouri with a Contract Effective Date before May 21, 2025 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Current<br>Charge** | **Maximum<br>Charge** | **Brief Description of Restrictions / Limitations** |
| **Automated Withdrawals** | Permits automated withdrawals from the Contract | No charge | $30 annually | • Only available during the Accumulation Period<br>• Automated withdrawals during the first six Contract Years may be subject to an Early Withdrawal Charge<br>• Automated withdrawals taken before the end of a Term will be subject to a Daily Value Percentage adjustment<br>• Automated withdrawals will reduce the amount available under the Free Withdrawal Allowance<br>• Automated withdrawals could result in significant loss due to taxes and reduce your ability to take full advantage of any positive Index performance at the end of a Term<br>• Like other withdrawals, automated withdrawals reduce the Death Benefit Return of Premium Guarantee proportionally, and, if taken from an Indexed Strategy before the end of a Term, reduce the Strategy's Investment Base proportionally. The reduction in the Death Benefit Return of Premium Guarantee and Investment Base could be significantly larger than the amount of the withdrawal. You should discuss the impact of taking such withdrawals with your financial professional before electing to do so<br>• We may discontinue automated withdrawals at any time |

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**CHARGES AND ADJUSTMENTS** 

**Daily Charge** 

We impose a Daily Charge on each Indexed Strategy to reimburse us for contract sales expenses, including commissions and other distribution, promotion, and acquisition expenses, and to help us maximize Positive Return Factor rates.

Except as provided in the next sentence, the Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.95% per year. The Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.75% per year if your Contract was issued (1) before May 7, 2024; or (2) before June 7, 2024, and your application was signed before May 7, 2024. The Daily Charge is calculated as a percentage of the remaining Investment Base of the Indexed Strategy and deducted daily.

**Early Withdrawal Charge** 

We impose an Early Withdrawal Charge to reimburse us for contract sales expenses, including commissions and other distribution, promotion, and acquisition expenses, and to allow us to invest assets for a longer duration, which supports higher Positive Return Factor rates.

The Early Withdrawal Charge applies if, during the first six Contract Years, you take a withdrawal from your Contract or Surrender it. After that, the Early Withdrawal Charge does not apply.

During the first six Contract Years, unless a waiver applies, the Early Withdrawal Charge applies to each withdrawal, including withdrawals under an automated withdrawal program and withdrawals taken to satisfy a required distribution. The Early Withdrawal Charge does not apply to Death Benefit payments or Annuity Payout Benefit payments.

An Early Withdrawal Charge reduces your Account Value.

The Early Withdrawal Charge is equal to the amount that is subject to the charge multiplied by the Early Withdrawal Charge rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **If you take a withdrawal from your Contract, the amount subject to the charge is the amount you withdraw, which includes any amount needed to pay the Early Withdrawal Charge.** This means that at your direction either we will subtract the Early Withdrawal Charge from amount paid to you or we will increase the amount withdrawn as needed to cover the
charge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you Surrender your Contract, the amount subject to the charge is your Account Value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount subject to the charge will not include the Free Withdrawal Allowance or the amount, if any, that
qualifies for a waiver as described below.

The Early Withdrawal Charge rate depends on how long you own your Contract. The rate schedule is set out below.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  Contract Year | 1 | 2 | 3 | 4 | 5 | 6 | 7+ |
|  Early Withdrawal Charge Rate | 9.0% | 8.0% | 7.0% | 6.0% | 5.0% | 4.0% | 0% |

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When you request a withdrawal, you can instruct us to reduce the amount we pay you by the amount of the Early Withdrawal Charge. If you instead instruct us to pay you the specific withdrawal amount, we will reduce your Account Value by both the requested specific withdrawal amount, as well as the amount of the Early Withdrawal Charge. In this case, since you opted not to pay the Early Withdrawal Charge out of your withdrawal proceeds, we treat the Early Withdrawal Charge as an additional requested withdrawal. We will apply the Early Withdrawal Charge rate to both the specified withdrawal amount, as well as any amounts we withdraw to cover your Early Withdrawal Charges. The Early Withdrawal Charge does not apply to a withdrawal that qualifies for the Free Withdrawal Allowance or the amount, if any, that qualifies for another waiver.

*Example for Surrender.* You Surrender your Contract in Contract Year 6 when your Account Value is $100,000. You have already used your Free Withdrawal Allowance for the year and no other exception applies. We take an Early Withdrawal Charge of $4,000 ($100,000 x 4%) and you receive $96,000.

*Example for Withdrawal.* You request a withdrawal of $12,000 from your Contract in Contract Year 6 and instruct us to pay you the entire $12,000. You have already used your Free Withdrawal Allowance for the year and no other exception applies. We use the following formula to calculate the Early Withdrawal Charge.

(Requested withdrawal x EWC rate) / (1.00 - EWC rate) = Early Withdrawal Charge

($12,000 x 4%) / (1.00 - 0.04) = $480 / 0.96 = $500

We take the Early Withdrawal Charge of $500, you receive $12,000, and your Account Value is reduced by $12,500.

*Note.* If the amount subject to the Early Withdrawal Charge included only the amount you withdrew, the charge would have been $480. Because the amount subject to the Early Withdrawal charge also included the amount needed to pay the charge, the actual charge is $500.

**Free Withdrawal Allowance** 

The Free Withdrawal Allowance lets you withdraw some money from your Contract without the imposition of the Early Withdrawal Charge. For the first Contract Year, the Free Withdrawal Allowance is an amount equal to 10% of the total Purchase Payments received by us. For each subsequent Contract Year, the Free Withdrawal Allowance is equal to 10% of the Account Value as of the most recent Contract Anniversary. The Free Withdrawal Allowance is non-cumulative and you may not carry over any unused portion to other Contract Years.

For qualified annuities, the Free Withdrawal Allowance will be large enough to cover your required minimum distribution to age 93. However, if you have used your Free Withdrawal Allowance to facilitate a transfer or rollover, then an Early Withdrawal Charge may apply to a required minimum distribution.

*Example.* Your Account Value as of the end of Contract Year 3 is $200,000. Your Free Withdrawal Allowance for Contract Year 4 is $20,000 (10% of $200,000). If you take a withdrawal of $50,000 at the beginning of Contract Year 4, the Early Withdrawal Charge will not apply to the first $20,000 of the withdrawal, but will apply to the remaining $30,000 plus the amount needed to pay the Early Withdrawal Charge. If you take another withdrawal later in Contract Year 4, the Early Withdrawal Charge applies to the entire withdrawal plus the amount needed to pay the Early Withdrawal Charge.

If you Surrender your Contract during the first six Contract Years, the amount subject to the Early Withdrawal Charge upon Surrender will not include the current or any prior Free Withdrawal Allowance.

**Early Withdrawal Charge Waivers** 

***Extended Care Waiver*.** We will waive the Early Withdrawal Charge that would otherwise apply if you make a Request in Good Order and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract includes the waiver rider for extended care;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you are confined in a long-term care facility or hospital and the confinement is prescribed by a physician and is
medically necessary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the first day of the confinement is after the Contract Effective Date (or for Contracts issued before
May 21, 2025, on or after the first Contract Anniversary); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Surrender or withdrawal occurs at least 90 days after the first Contract Anniversary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the confinement has continued for a period of at least 90 consecutive days.

You must provide us with satisfactory proof that you meet these conditions before the date of the withdrawal or Surrender. There is no charge for this rider, but it may not be available in all states. You do not need to take any action to add this waiver rider.

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***Terminal Illness Waiver*.** We will waive the Early Withdrawal Charge that would otherwise apply if you make a Request in Good Order and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract includes the waiver rider for terminal illness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you are diagnosed with a terminal illness by a physician and, as a result of the terminal illness, you have a
life expectancy of less than 12 months from the date of diagnosis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the diagnosis is rendered by a physician after the Contract Effective Date (or for Contracts issued before
May 21, 2025, on or after the first Contract Anniversary); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Surrender or withdrawal occurs on or after the first Contract Anniversary.

You must provide us with satisfactory proof that you meet these conditions before the date of the withdrawal or Surrender. There is no charge for this rider, but it may not be available in all states. You do not need to take any action to add this waiver rider.

**State Limitations.** In some states, our ability to waive fees or charges may be limited by applicable laws, regulations, or administrative positions. **See "Appendix C: State Variations" for information about availability in your state.**

**Automated Withdrawal Program Charges** 

Currently, we do not charge a fee to participate in an automated withdrawal program. However, we reserve the right to impose an annual fee in such amount as we may then determine to be reasonable for participation in the automated withdrawal program. If imposed, the fee will not exceed $30 annually.

**Premium and Other Taxes** 

We reserve the right to deduct from the Purchase Payment or Account Value any taxes relating to the Contract paid by us to any government entity (including, but not limited to, premium taxes, additional taxes, and maintenance taxes on insurers, Federal, state and local withholding of income, estate, inheritance, or other taxes required by law from annuity Purchase Payments, and any new or increased taxes on insurers or annuity Purchase Payments that may be enacted into law).

Currently some state governments impose premium taxes, additional taxes, and maintenance taxes on insurers based on annuity Purchase Payments received or applied to an annuity payout benefit. These taxes currently range from zero to 3.5% depending upon the jurisdiction and the tax qualification of the Contract. A federal premium tax has been proposed but not enacted. We may deduct any such premium or other taxes from the Purchase Payments or the Account Value at the time that the tax is imposed. We may also deduct any such tax not previously deducted from the Annuity Payout value or Death Benefit value.

We reserve the right to deduct from the Contract for any income taxes that we incur because of the Contract. At the present time, however, we are not incurring any such income tax or making any such deductions.

**Daily Value Percentage Adjustment** 

Each day before the final Market Day of a Term, the value of an Indexed Strategy is the Investment Base increased or decreased by the Daily Value Percentage. If, before the final Market Day of a Term, you take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable, we will apply a Daily Value Percentage adjustment to determine the value of an Indexed Strategy before the end of a Term, and, if you have elected a Performance Lock, to determine the value of an Indexed Strategy for the balance of a Term. The purpose of this calculation is to shift any potential investment loss on the Company's general account assets that support the indexed option guarantees from the Company to you when amounts are removed prematurely from an Indexed Strategy. The Daily Value Percentage includes the prices of hypothetical options and is calculated by subtracting the Residual Option Cost and Trading Cost from the Net Option Price. The Residual Option Cost and Trading Cost are charges for unwinding the investment before the end of a Term. These charges reduce the Indexed Strategy value which means that any Indexed Strategy value before the end of a Term will almost always be less, perhaps significantly less, than the value suggested by the rise or fall of the Index. Because the Residual Option Cost is a decreasing value, its negative impact on Strategy values will be more pronounced at the start of a Term than at the end of that Term. In addition, even if the Index rises, the Strategy value may be less than the Investment Base due to these deductions. A negative Daily Value Percentage adjustment could result in significant loss, even if the Index is performing positively. Before the end of a Term, if you take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable, the reduction in Indexed Strategy value due to the Residual Option Cost and Trading Cost may cause a loss to exceed the -10% Floor or 50% Downside Participation Rate, and may eliminate the benefit of the 10% Buffer or 20% Buffer. The Residual Option Cost and Trading Cost are determined each time the Daily Value Percentage is calculated or when a Performance Lock election is made. **As a result, in extreme circumstances, an Indexed Strategy may have no value before the end of a Term due to the Daily Value Percentage, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable. For more information on the Residual Option Cost and Trading Cost, please see the "Indexed Strategy Value Before End of Term" section beginning on page 47.**

You may access Daily Value Percentage information for the Indexed Strategies as of the previous day's Market Close by calling 1-800-789-6771 or by accessing your account online at <u>www.massmutualascend.com</u>. This value can fluctuate daily, and the current value quoted may differ from the actual value calculated at the time of adjustment.

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**See "Contract Adjustments" in the Statement of Additional Information for more details, including examples illustrating the operation of the Daily Value Percentage adjustment.** 

**PURCHASING THE CONTRACT** 

You may purchase a Contract only through a registered representative of a broker-dealer that has a selling agreement with our affiliated underwriter, MM Ascend Life Investor Services, LLC.

Any Owner or Annuitant must be age 80 or younger on the Contract Effective Date. To determine eligibility, we will use the person's age on his/her last birthday. We may make exceptions with respect to the maximum issue age in our discretion.

The Contract is not available in all states. To find out if it is available in the state where you live, ask your registered representative. The Contract may not be available for purchase during certain periods. There are a number of reasons why the Contract periodically may not be available, including that we may want to limit the volume of sales of the Contract. You may wish to speak to your registered representative about how this may affect your purchase. For example, in order to purchase the Contract, you may be required to submit your application prior to a specific date. In that case, if there is a delay because your application is incomplete or otherwise not in good order, you might not be able to purchase the Contract. Your broker-dealer may impose conditions on the purchase of the Contract, such as a lower maximum issue age, than we or other selling firms impose. In addition, Selling Broker-Dealers may not make certain indexed strategies available. If you have any questions, you should contact your Selling Agent or his or her Selling Broker Dealer. We reserve the right to reject any application at our discretion. We also reserve the right to discontinue the sale of the Contracts at any time.

**Purchase Payments** 

The Contract is a modified single premium annuity contract. This means you may make one or more Purchase Payments during the Purchase Payment period. The Purchase Payment period begins on the Contract Effective Date. It will end two months after the Contract Effective Date.

The initial Purchase Payment must be at least $25,000. Unless we agree, each additional Purchase Payment must be at least $10,000. You will need our prior approval if you want to make total Purchase Payments of more than $1,000,000.

We must receive your initial Purchase Payment on or before the Contract Effective Date. We must receive each additional Purchase Payment on or before the last day of the Purchase Payment period. We will not accept any Purchase Payment that we receive after the date that the Contract is cancelled or Surrendered, or after a death for which a Death Benefit is payable. We deem Purchase Payments mailed to our post office box at P.O. Box 5423, Cincinnati OH 45201-5423, as received by us at our administrative office when the Purchase Payment or the paperwork reaches the applicable processing department located at 191 Rosa Parks Street, Cincinnati OH 45202.

We reserve the right to refuse a Purchase Payment made in the form of a personal check in excess of $100,000. We may accept a Purchase Payment over $100,000 made in other forms, such as EFT/wire transfers, or certified checks or other checks written by financial institutions. We will not accept a Purchase Payment(s) made with cash, money orders, or traveler's checks.

**Exchanges, Transfers, or Rollovers** 

If you own an annuity or tax-qualified account, you may be able to exchange it for an Index Summit 6 Pro annuity, directly transfer it to an Index Summit 6 Pro annuity, or roll it over to an Index Summit 6 Pro annuity without paying taxes. Before you do, compare the benefits, features, and costs of each annuity or account. You may pay an early withdrawal charge under the old annuity or account. You may pay an early withdrawal charge if you later take withdrawals from your Index Summit 6 Pro annuity. Please note that some financial professionals may have a financial incentive to offer this Contract in place of the one the investor already owns. Ask your registered representative whether an exchange, transfer, or rollover would be advantageous, based on the features, benefits, and charges of the Index Summit 6 Pro annuity.

If you purchase your Contract with an exchange, transfer, or rollover, a delay in processing the exchange, transfer, or rollover may delay the issuance of your new Contract or prevent the application of additional Purchase Payments to your new Contract.

You should only exchange your existing contract for this Contract if you determine after comparing the features, fees, and risks of both contracts that it is preferable for you to purchase this Contract rather than continuing to own your existing contract.

**Application of Purchase Payments** 

Each Purchase Payment will be held in the Purchase Payment Account until it is applied to an Indexed Strategy on a Strategy Application Date pursuant to your instructions. On each Strategy Application Date, we will apply the then current balance of the Purchase Payment Account to the Indexed Strategies you selected.

We will credit interest daily on amounts held in the Purchase Payment Account at the annual effective rate set out in your Contract. This rate will be at least 0.15%.

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In most states, we are required to give back your Purchase Payment(s) if you decide to cancel your Contract during the free look period. If we are required by law to refund your Purchase Payment(s), we reserve the right to hold your Purchase Payment(s) in the Purchase Payment Account until the first Strategy Application Date on or after the end of the free look period. For those States, if you cancel your Contract before that Strategy Application Date, we will refund your Purchase Payment(s) but you will forfeit any interest credited to the Purchase Payment Account or other increase in Account Value.

**Purchase Payment Account Value** 

On any day, the value of the Purchase Payment Account is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase Payments received by us plus interest earned daily; minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the premium tax or other tax that may apply to the Purchase Payments; and minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each withdrawal and related Early Withdrawal Charge taken from the Purchase Payment Account since the last
Strategy Application Date.

**Unforeseen Processing Delays** 

We are exposed to risks related to natural and man-made disasters and catastrophes, such as (but not limited to) storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts, any of which could adversely affect our ability to conduct business. A natural or man-made disaster or catastrophe, including a pandemic (such as the COVID-19 pandemic), could affect the ability or willingness of our employees or the employees of our service providers to perform their job responsibilities. While many of our employees and the employees of our service providers are able to work remotely, those remote work arrangements may result in our business operations being less efficient than under normal circumstances and could lead to delays in our processing of contract-related transactions, including orders from contract owners. Catastrophic events may negatively affect the computer and other systems on which we rely, impact our ability to calculate values under your Contract, or have other possible negative impacts. There can be no assurance that our service providers will be able to successfully avoid negative impacts associated with natural and man-made disasters and catastrophes.

A processing delay will not affect the effective date as of which we process transactions, including orders from contract owners, the date that a Term begins or ends, or the values used to process the transaction.

**Right to Cancel (Free Look)** 

If you change your mind about owning the Contract, you may cancel it within 20 days after you receive it. If you purchase this Contract to replace an existing annuity contract or life insurance policy, you have 30 days after you receive it. This is known as a "free look." The right to cancel period may be longer in some states.

To cancel your Contract, you must submit your request to cancel to the producer who sold it or send it to us at P.O. Box 5423, Cincinnati, OH 45201-5423. If sent to us by mail, it is effective on the date postmarked with proper address and postage paid. Your request to cancel must be in writing and signed by you.

If you cancel your Contract, you will receive a refund. The amount of the refund will depend on when you purchased your Contract and where you live. When you cancel the Contract within this free look period, we will not assess an Early Withdrawal Charge on the amount to be refunded. There may be tax consequences if you cancel the Contract. You should seek advice on tax questions based on your particular circumstances from a tax advisor.

**Refund Amount if your Contract Effective Date is on or after May 21, 2025** 

If you cancel your Contract, you will receive a refund equal to your Purchase Payment(s), but you will forfeit any interest credited to the Purchase Payment Account or other increase in the Account Value. We reserve the right to hold your Purchase Payment(s) in the Purchase Payment Account until the first Strategy Application Date on or after the end of the free look period.

**"Appendix C: State Variations"** contains a summary of the state law provisions related to the free look period and the required refund amount that apply in certain states for Contracts with a Contract Effective date on or after May 21, 2025.

**Refund Amount if your Contract Effective Date is before May 21, 2025** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you cancel your Contract and you live in a state where we are required to refund your Purchase Payment(s), you
will receive a refund equal to your Purchase Payment(s), but you will forfeit any interest credited to the Purchase Payment Account or other increase in the Account Value. We reserve the right to hold your Purchase Payment(s) in the Purchase Payment
Account until the first Strategy Application Date on or after the end of the free look period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you cancel your Contract and you live in a state where we are required to refund the Account Value of your
Contract, you will receive the Account Value on the day that we receive your cancellation Request in Good Order. If the Account Value includes the value of an Indexed Strategy, that Strategy value will reflect the applicable Daily Value Percentage.
The amount you receive may be more or less than your Purchase Payment(s) depending upon any interest earned by your Contract and the value of your Indexed Strategies. This means that you bear the risk of any decline in the Account Value of your
Contract before we receive your cancellation request.

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Unless required by state law, we do not refund any Daily Charge assessed during the free look period or any Early Withdrawal Charges assessed during the free look period that relate to a withdrawal taken before you cancel the Contract.

**"Appendix C: State Variations"** contains a summary of the state law provisions related to the free look period and the required refund amount that apply in certain states for Contracts with a Contract Effective Date before May 21, 2025.

**INITIAL STRATEGY SELECTIONS** 

You make your initial selection of Indexed Strategies in your purchase application. Your initial selection is set out in the Contract Specifications section of your Contract.

Your initial selection will also apply to each subsequent Purchase Payment. If you wish to change your selection for a specific Purchase Payment, we must receive a Request in Good Order that identifies the Indexed Strategies you are selecting for that Purchase Payment before the Strategy Application Date that applies to that Purchase Payment.

When you select an Indexed Strategy, you must also indicate the percentage of the Purchase Payment that you wish to allocate to that Indexed Strategy. All allocations must be in whole percentages that total 100%. We reserve the right to round amounts up or down to make whole percentages, and to reduce or increase amounts proportionally in order to total 100%.

Currently there are no limitations on the amounts that may be applied to an Indexed Strategy.

Indexed Strategies with 6-year Terms are only available for Terms that begin in the first Contract Year.

Indexed Strategies with 3-year Terms are only available for Terms that begin in the first four Contract Years.

We may establish minimum and maximum amounts or percentages that may be applied to a given Indexed Strategy for any future Term in our discretion. We will notify you of any such minimum or maximum. No minimum or maximum amounts or percentages shall apply to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy. Selling Broker-Dealers may separately establish minimum and maximum amounts or percentages that they will allow to be allocated to a given Indexed Strategy for the initial Terms, and they may choose not to discuss or offer certain strategies for the initial Terms. We may limit the availability of a Strategy for a Term that would extend beyond the Annuity Payout Initiation Date. All Strategies may not be available in all states.

**STRATEGY SELECTIONS AT TERM END** 

At the end of a Term, you may choose to reallocate your money among the Indexed Strategies or you may choose to take no action. If you do not send us a reallocation request, your current allocations will automatically continue in the new Term as long as the same Indexed Strategies are available.

**Reallocations** 

At the end of a Term, you may reallocate the ending values of the Indexed Strategies for that Term among the available Strategies. You can only reallocate amounts from one Indexed Strategy to another at the end of the Term for which such amount is being held. You cannot make a reallocation at any other time.

We will send you written notice at least 30 days before the end of a Term to provide you with the opportunity to make a reallocation. We must receive your Request in Good Order for a reallocation before the last Market Close of the Term. For example, if the end of a Term falls on a weekend, we must receive your request by the last Market Close before that weekend.

Reallocations must be in whole percentages that total 100%. We reserve the right to round amounts up or down to make whole percentages, and to reduce or increase amounts proportionally in order to total 100%.

Any reallocation or continuing allocation will be subject to Strategy availability, minimums, and maximums. Currently there are no limitations on the amounts that may be applied to any single Indexed Strategy. We may establish minimum and maximum amounts or percentages that may be applied to a given Indexed Strategy for any future Term in our discretion. We will notify you of any such minimum or maximum.

The new Term of each Strategy is subject to the Positive Return Factor rate in effect for that Strategy for that new Term. For example, the Upside Participation Rate for an Indexed Strategy for a new Term may be different than the Upside Participation Rate for that Indexed Strategy for the Term that is ending. The applicable Negative Return Factor rate will not change from Term to Term.

**Continuing Allocations** 

You do not need to take any action if you want to continue your current allocations and all of your strategies are available for the next Term. If you do not send us a reallocation request, then we will automatically apply the ending value of each Indexed Strategy to a new Term of that same Strategy.

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**Availability of Strategies** 

We will send you a written notice at least 30 days before the end of each Term with information about the Strategies that will be available for the next Term. At least 10 days before the next Term starts, we will post the Positive Return Factor rates that will apply for the next Term on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>).

The S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy will always be available. We are not obligated to offer any other particular Indexed Strategy. At the end of a Term, we can add or stop offering any other Indexed Strategy at our discretion. We reserve the right to limit the availability of a Strategy for a Term that would extend beyond the Annuity Payout Initiation Date. All Indexed Strategies may not be available in all states.

If we intend to add or stop offering an Indexed Strategy at the end of a Term, we will send you a notification at least 30 days before the end of the Term to provide you with the opportunity to make a reallocation. If funds are held in an Indexed Strategy that will no longer be available after the end of a Term, the funds will remain in that Strategy until the end of that Term.

**Unavailable Strategies** 

Other than the S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy, an Indexed Strategy may be unavailable for the next Term because we are no longer offering that Strategy, or we have set a minimum or maximum for that Strategy. No minimum or maximum shall apply to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.

When an Indexed Strategy is unavailable for the next Term, you may choose to reallocate the funds held in that Strategy.

If an Indexed Strategy is not available, and either you have not reallocated the funds or the amount allocated to it is under the minimum or over the maximum for that Strategy, then the amount that cannot be allocated to it for the new Term will be reallocated as described in the Default Strategy Allocations section below.

**Surrender or Withdrawal at Term End** 

At the end of a Term, you may choose to Surrender your Contract or to take a withdrawal from your Contract. You may do so for any reason, including dissatisfaction with the available Indexed Strategies. An Early Withdrawal Charge may apply. In addition, there may be tax consequences if you Surrender your Contract or take a withdrawal. You should seek advice on tax questions based on your particular circumstances from a tax advisor.

Contract values calculated at the end of a Term will reflect the applicable Strategy values and any Early Withdrawal Charge that applies upon Surrender or to your withdrawal. The value of an Indexed Strategy at the end of the Term will not reflect any Daily Value Percentage because it is calculated based on the rise or fall of the applicable Index for the Term.

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**DEFAULT STRATEGY ALLOCATIONS** 

At the end of a Term of a multi-year Indexed Strategy, if a new Term of the same Strategy is not available and you do not send us a reallocation request by the end of the Term, then we will apply the ending value to a new Term of the default 1-year Indexed Strategy identified in the following table:

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| | |
|:---|:---|
| **Multi-Year Indexed Strategy with Term that is ending:** | **Default 1-Year Indexed Strategy for new Term:** |
| S&P 500 6-Year 10% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 10% Buffer with Cap |
| S&P 500 6-Year 20% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 20% Buffer with Cap |
| S&P 500 6-Year 10% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| S&P 500 6-Year 20% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 6-Year 10% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 6-Year 20% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy |
| Russell 2000 6-Year 10% Buffer with Upside Participation Rate | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 6-Year 20% Buffer with Upside Participation Rate | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| S&P 500 3-Year 10% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 10% Buffer with Cap |
| S&P 500 3-Year 20% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 20% Buffer with Cap |
| S&P 500 3-Year 10% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| S&P 500 3-Year 20% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 10% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 20% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 10% Buffer with Upside Participation Rate | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 20% Buffer with Upside Participation Rate | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |

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In all other cases, to the extent an amount cannot be applied to a new Term of that same Indexed Strategy because the Strategy will not be available or because the amount is under the minimum or over the maximum for that Strategy, and you do not reallocate, we will reallocate that amount (in order of priority):

1) to another Indexed Strategy as provided in the endorsement to the unavailable Indexed Strategy; or

2) to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy. 

For example, if you allocate only to a SPDR Gold Shares 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy and that Strategy is no longer available and you do not send us a request to reallocate, then we would apply the amount allocated to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.

If the amount to be applied exceeds the maximum, then only the excess amount will be applied using those rules. For example, if the maximum amount for an Indexed Strategy is $50,000 and the amount to be applied is $54,000, then we will apply the excess $4,000 to another Indexed Strategy using the priority rules set out above.

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**INDEXED STRATEGIES** 

The Indexed Strategies provide positive or negative returns that are based, in part, upon changes in the value of an Index. The Indexed Strategies do not earn interest, but the value of each Indexed Strategy is adjusted for gains or losses based on the performance of the Index. An investment in an Indexed Strategy is not an investment in the Index or in any Index fund. **You could lose a significant amount of money if the Index declines in value. If amounts are removed from an Indexed Strategy before the end of the Term, you could lose a significant amount of money due to a negative Daily Value Percentage adjustment.**

Unless you have made a Performance Lock election, any increase or decrease in the value of an Indexed Strategy at the end of a Term is determined after Daily Charges have been deducted from the Investment Base, and is based on the change in the value of the applicable Index since the start of that Term and the applicable Positive Return Factor rate set for that Term and the Negative Return Factor fixed for the Strategy.

Unless you have made a Performance Lock election, any increase or decrease in the value of an Indexed Strategy before the end of a Term is determined after Daily Charges have been deducted from the Investment Base and is based on the calculated price of hypothetical options related to the possible future change in the applicable Index over the Term, the initial cost of those options, and the trading cost related to those options. The calculated price of those options takes into account the Cap or the Trigger Rate for the Term and the Floor, the Buffer, and the Index change required to qualify for the Trigger Rate.

If you have made a Performance Lock election, then beginning at the second Market Close following receipt of your election and continuing through the end of the Term, any increase or decrease in the value of an Indexed Strategy is locked in based on the Daily Value Percentage which is the calculated price of hypothetical options related to the possible future change in the applicable Index over the Term, the initial cost of those options, and the trading cost related to those options, all as determined at that second Market Close. However, the value of the Indexed Strategy will continue to decrease because of the Daily Charges assessed against the Investment Base.

Each Indexed Strategy has a Positive Return Factor rate, or a combination of Positive Return Factor rates, for each Term. We will set new Positive Return Factor rates for each Indexed Strategy prior to the start of each Term. **The Cap for an Indexed Strategy will never be lower than 1%, the Upside Participation Rate will never be lower than 5%, and the Trigger Rate will never be lower than 1%.**

The applicable Negative Return Factor rate for a Strategy will not change from Term to Term. For each Term of each Indexed Strategy with a Downside Participation Rate that we currently offer, the Downside Participation Rate is 50%. For each Term of an Indexed Strategy with a Buffer that we currently offer, the Buffer is 10% or 20%. For each Term of the Indexed Strategies with a Floor that we currently offer, the Floor is either -10% or 0%.

Information regarding the features of each currently offered Indexed Strategy, including (i) its name, (ii) its type, (iii) its Term, (iv) its current Negative Return Factor, (v) its minimum Positive Return Factor rates, and (vi) the availability of Performance Lock is available in an appendix to the prospectus. **See "Appendix A: Investment Options Available Under the Contract".**

**Possible Changes in Indexed Strategies** 

**The S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy will always be available.** At the end of a Term, we may stop offering any other Indexed Strategy. Consequently, any other Indexed Strategy listed above may not be available after the end of the initial Term. We have the right to replace the Index associated with an Indexed Strategy under certain circumstances.

In the future, we may offer new Indexed Strategies. Any new Buffer Strategy will offer protection against loss at least equal to a 5% Buffer. Any new Floor Strategy will offer protection against loss at least equal to a -20% Floor. Any new Downside Participation Rate Strategy will offer protection against loss at least equal to a 75% Downside Participation Rate.

Indexed Strategies that may be available in the future may earn a return that is lower than the return your investments would have earned if they had been invested in the other Indexed Strategies that are currently available. In addition, any reduction in the available number of Indexed Strategies may reduce your opportunity to increase your Contract value.

**Considerations in Choosing an Indexed Strategy** 

When choosing among Indexed Strategies, you should consider the characteristics and risk profiles of the Indexes, which are discussed in the Indexes section of this prospectus. You should also consider Term lengths. It is generally more difficult to predict Index performance over a longer Term. In addition, you cannot reallocate funds among Strategies before the end of a Term, and the only way to exit a Strategy before the end of a Term is to take a withdrawal or Surrender your Contract.

When choosing among Indexed Strategies that use the same Index, you should also consider how the Positive Return Factors may affect the potential return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Cap Strategy with no Upside Participation Rate provides you with the opportunity to participate fully in any
rise in the Index up to the Cap (after Daily Charges have been deducted from the Investment Base), but you will not participate in any rise in the Index in excess of the Cap.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An Upside Participation Rate Strategy with no Cap provides you with the opportunity to share in any rise in the
Index without a Cap (after Daily Charges have been deducted from the Investment Base), but your share of any rise is limited by the rate at which you participate in the rise and may be less than 100%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Combination Strategy provides you with the opportunity to share in any rise in the Index, limited by the rate
at which you participate in the rise, up to a Cap (after Daily Charges have been deducted from the Investment Base). Your share of any rise in which you participate may be less than 100%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Performance Trigger Strategy provides you with the opportunity to receive the Trigger Rate (after Daily Charges
have been deducted from the Investment Base) when the change in the Index over the course of a Term is zero or positive, or in the case of the Dual Performance Trigger Strategy, is zero, positive, or negative up to the Buffer. However, you will not
participate in any rise in the Index in excess of the Trigger Rate.

Here is how the performance will compare for similar Indexed Strategies with a Cap, Upside Participation Rate, combination Upside Participation Rate and Cap, and Trigger Rate each with a 10% Buffer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In any Term where the rise in the Index is less than the Cap, the Cap Strategy without an Upside Participation
Rate will always perform better than the corresponding Upside Participation Rate Strategy unless the Upside Participation Rate is over 100%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In any Term where the rise in the Index is more than the Cap, but less than the Cap divided by the Upside
Participation Rate, the Cap Strategy will always perform better than the corresponding Upside Participation Rate Strategy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In any Term where the rise in the Index is equal to the Cap divided by the Upside Participation Rate, the Cap
Strategy and Upside Participation rate Strategy will perform the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In any Term where the rise in the Index is more than the Cap divided by the Upside Participation Rate, an Upside
Participation Rate Strategy without a Cap will always perform better than a Cap Strategy without an Upside Participation Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any increase in the value of a Trigger Strategy will equal the Trigger Rate multiplied by the remaining
Investment Base. This means that the performance of a Trigger Strategy will only perform better than other Strategies if the Trigger Rate is higher than the returns of the other Strategies after a Cap and/or Upside Participation Rate have been
applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In any Term where the Index falls by more than 10%, the Cap Strategy, Upside Participation Rate Strategy,
Combination Strategy, or Trigger Strategy will produce the same results at the end of the Term because they have the same 10% Buffer. However, before the end of the Term, due to different option pricing, they may have different Daily Value
Percentages and returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In any Term where the Index falls by 10% or less, the Dual Performance Trigger Strategy will perform better than
the Cap Strategy, Upside Participation Rate Strategy, Combination Strategy, and Performance Trigger Strategy because the return of the Dual Performance Trigger Strategy will be positive, in an amount equal to the Trigger Rate, while the Cap
Strategy, Upside Participation Rate Strategy, Combination Strategy, and Performance Trigger Strategy will be zero at the end of the Term because they have the same 10% Buffer.

When choosing among Indexed Strategies that use the same Index, you should also consider how Negative Return Factors may affect your potential risk of loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Buffer Strategy protects you against losses up to the Buffer amount, but you are subject to any loss in excess
of the Buffer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Floor Strategy limits your loss to the Floor amount, and you will be protected against any loss beyond the
Floor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Downside Participation Rate Strategy means you will share in any fall in the Index but your share of any fall
is limited by the Downside Participation Rate percentage.

*Examples*. These examples are intended to help you understand the interplay between Positive Return Factors for Indexed Strategies with similar Terms in different market environments and how this interplay affects the comparative performance of Indexed Strategies that use the same Index. The example assumes that each strategy has downside protection in the form of a 10% Buffer and does not include the deduction of Daily Charges in the return figures.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Index rise<br>over Term** | **Return at end of Term** | **Return at end of Term** | **Return at end of Term** | **Return at end of Term** | **Return at end of Term** | |
| **Index rise<br>over Term** | **12% Cap** | **75% Upside<br>Participation Rate** | **Combination<br>Strategy with<br>75% Upside<br>Participation<br>Rate and 14%<br>Cap** | **11% Trigger<br>Rate for<br>Performance<br>Trigger<br>Strategy** | **8% Trigger<br>Rate for Dual<br>Performance<br>Trigger<br>Strategy** | <br>**Explanation** |
| 4% | 4% | 3% | 3% | 11% | 8% | The Cap Strategy has a better return than the Upside Participation Rate Strategy and the Combination Strategy because the 4% rise in the Index is less than the 12% Cap in the Cap Strategy and the 14% Cap in the Combination Strategy while the Upside Participation Rate captures only 75% of the 4% Index rise. The positive Index change produces an 11% positive return for the Performance Trigger Strategy and an 8% positive return for the Dual Performance Trigger Strategy, and these returns exceed the returns provided by the Cap Strategy, Upside Participation Rate Strategy, and Combination Strategy. |
| 14% | 12% | 10.5% | 10.5% | 11% | 8% | The Cap Strategy has a better return than the Upside Participation Rate Strategy and Combination Strategy because while the Cap Strategy caps the 14% rise in the Index at 12%, that is more than 10.5% (the 14% rise in the Index multiplied by the 75% Upside Participation Rate). The positive Index change produces an 11% positive return for the Performance Trigger Strategy and an 8% positive return for the Dual Performance Trigger Strategy, and these returns are less than the return provided by the Cap Strategy but more than the returns provided by the Upside Participation Rate Strategy and Combination Strategy. |
| 16% | 12% | 12% | 12% | 11% | 8% | The Cap Strategy, Upside Participation Rate Strategy and Combination Strategy have the same return because the Cap Strategy caps the 16% rise at 12% while the Upside Participation Rate captures 75% of the 16% Index rise, which also equals 12%. The positive Index change produces an 11% positive return for the Performance Trigger Strategy and an 8% positive return for the Dual Performance Trigger Strategy, and these returns are less than the returns provided by the Cap Strategy, Upside Participation Rate Strategy, and Combination Strategy. |
| 20% | 12% | 15% | 14% | 11% | 8% | The Upside Participation Rate Strategy has a better return than the Cap Strategy and Combination Strategy because the Cap Strategy caps the 20% Index rise at 12% while the Upside Participation Rate captures 75% of the 20% Index rise, which is 15%. The Cap in the Combination Strategy limits that Strategy's return to 14% because it is less than the Index change multiplied by the Upside Participation Rate. The positive Index change produces an 11% positive return for the Performance Trigger Strategy and an 8% positive return for the Dual Performance Trigger Strategy, and these returns are less than the returns provided by the Cap Strategy, Upside Participation Rate Strategy, and Combination Strategy. |
| 0% | 0% | 0% | 0% | 11% | 8% | Performance Trigger Strategies and Dual Performance Trigger Strategies are the only Indexed Strategies that provide a positive return when the Index change is zero. The Performance Trigger Strategy outperforms the Dual Performance Trigger Strategy in this example because the Trigger Rate is higher for the Performance Trigger Strategy. |
| -10% | 0% | 0% | 0% | 0% | 8% | The Dual Performance Trigger Strategy provides a better return than all the other options because it provides a positive return even when the Index falls so long as the fall in the Index does not exceed the Buffer. |
| -30% | -20% | -20% | -20% | -20% | -20% | All Strategies have the same negative return because the Index loss exceeded the Buffer. |

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**See "Appendix B: Examples of Impact of Withdrawals on Contract Values and Amounts Realized" for more information about the interplay between Positive Return Factors for Indexed Strategies with different Terms in different market environments.** 

**See the "Indexed Strategy Value at End of Term" section below for more examples for each type of Indexed Strategy.** 

**Term** 

Each Term of an Indexed Strategy will start and end on a Strategy Application Date. Each Term is either one year long, two years long, three years long, or six years long. A new Term will start at the end of the preceding Term. **Gain or Loss for the Term based on the Index change, the Positive Return Factor, and the Negative Return Factor only applies to amounts that remain in an Indexed Strategy until the end of its Term. A Daily Value Percentage adjustment will be applied if, before the end of a Term, you were to take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable. See "Indexed Strategy Value Before End of Term" and "Indexed Strategy Value After Performance Lock Election" below.**

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If you make only one Purchase Payment or you make all of your Purchase Payments before the initial Strategy Application Date, then each Term of each Indexed Strategy will end on the same date in any given year. If you make a Purchase Payment after the initial Strategy Application Date, then your Purchase Payments will be applied to the Indexed Strategies on different Strategy Application Dates. In this case, an Indexed Strategy may have Terms that end on different dates in any given year.

*Examples.* These examples show how a Contract with multiple Purchase Payments may have Terms that end on different dates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make your initial Purchase Payment on March 10 and another Purchase Payment on March 17. You allocate
both payments to the same Indexed Strategy. The initial Strategy Application Date for both Purchase Payments is March 20. Each Term of that Indexed Strategy will start and end on March 20.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make your initial Purchase Payment on May 2 and another Purchase Payment on June 14. You allocate both
payments to the same Indexed Strategy. The initial Strategy Application Date for your initial Purchase Payment is May 6. For amounts attributable to your initial Purchase Payment, each Term of that Indexed Strategy will start and end on May 6.
The initial Strategy Application Date for your second Purchase Payment is June 20. For amounts attributable to your second Purchase Payment, each Term of that Indexed Strategy will start and end on June 20.

**Investment Base** 

The value of an Indexed Strategy is calculated using the Investment Base. The Investment Base is not your Account Value, Surrender Value, Annuity Payout value, or Death Benefit value, but it is used to calculate those values.

The Investment Base starts with the amount applied to the Strategy at the start of the current Term and is reduced daily by the Daily Charge Factor. The Investment Base is also reduced proportionally for each withdrawal and related Early Withdrawal Charge during the Term.

The reduction in the Investment Base for a withdrawal and the related Early Withdrawal Charge is proportional to the reduction in the value of the Indexed Strategy due to the withdrawal and the Early Withdrawal Charge. For example, if the sum of the withdrawal and related Early Withdrawal Charge is equal to 15% of the Indexed Strategy value immediately before the withdrawal, then the withdrawal will reduce the Investment Base by 15%.

The reduction in the Indexed Strategy value will be based on the Daily Value Percentage of the Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Daily Value Percentage is positive and the Strategy value immediately before the withdrawal is greater
than the Investment Base, then the reduction in the Investment Base will be less than the withdrawal and the related Early Withdrawal Charge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Daily Value Percentage is negative and the Strategy value immediately before the withdrawal is less than
the Investment Base, then the reduction in the Investment Base will be more than the withdrawal and the related Early Withdrawal Charge.

A reduction in the Investment Base for a Term will reduce the gain or loss from any future changes in the Index during that Term.

Here are the formulas that we use to calculate a reduction in the Investment Base for a withdrawal, after Daily Charges have been taken into account.

Withdrawal as a percentage of Strategy value = withdrawal and related Early Withdrawal Charge / Strategy value before withdrawal

Reduction in Investment Base = Investment Base before withdrawal x withdrawal as a percentage of Strategy value

Investment Base after withdrawal = Investment Base before withdrawal—reduction in Investment Base

*Examples*.

You withdraw $1,000 (including the amount needed to cover Early Withdrawal Charges). On the date of your withdrawal, your Investment Base is $5,000.

*Assume that the Daily Value Percentage is 5% on the withdrawal date.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The increase in the Strategy value for the Daily Value Percentage is equal to $250 ($5,000 x 5%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Strategy value on the withdrawal date is $5,250 ($5,000 + $250).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The reduction in the Strategy value on account of the withdrawal is 19.05% ($1,000 / $5,250).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The proportional reduction in the Investment Base is $952 ($5,000 x 19.05%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Investment Base after the withdrawal is $4,048 ($5,000 - $952).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Because the Strategy value on the withdrawal date was more than the Investment Base on that date, the reduction
in the Investment Base is only $952, which is less than the $1000 withdrawal.

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*Assume that the Daily Value Percentage is -10% on the withdrawal date.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The reduction in the Strategy value for the Daily Value Percentage is equal to $500 ($5,000 x -10%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Strategy value on the withdrawal date is $4,500 ($5,000 - $500).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The reduction in the Strategy value on account of the withdrawal is 22.22% ($1,000 / $4,500).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The proportional reduction in the Investment Base is $1,111 ($5,000 x 22.22%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Investment Base after the withdrawal is $3,889 ($5,000 - $1,111).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Because the Strategy value on the withdrawal date was less than the Investment Base on that date, the reduction
in the Investment Base was $1,111, which is greater than the $1,000 withdrawal.

**Indexed Strategy Value** 

The value of an Indexed Strategy depends on whether the determination is made at the end of a Term or during a Term, and whether you have made a Performance Lock election.

At the end of a Term, unless you have made a Performance Lock election, the value of an Indexed Strategy is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Investment Base at the end of the Term (after all reductions during the Term); plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any increase for a rise in the Index over the course of the Term (measured at the start and end of the Term), or
for the Dual Performance Trigger Strategy, any fall in the Index that does not exceed the Buffer, subject to the applicable Positive Return Factor for the Term; or minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any decrease for a fall in the Index over the course of the Term (measured at the start and end of the Term)
subject to the applicable Negative Return Factor for the Strategy.

See the "Indexed Strategy Value at End of Term" section on page 44 for more information and examples.

On each day before the end of a Term, unless you have made a Performance Lock election, the value of an Indexed Strategy is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Investment Base on that day (after all reductions to date during the Term); plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any increase for a positive Daily Value Percentage; or minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any decrease for a negative Daily Value Percentage.

See the "Indexed Strategy Value Before End of Term" section on page 47 for more information and examples.

Beginning with the second Market Close after a Performance Lock election and continuing through the end of the Term, the value of an Indexed Strategy subject to that election is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Investment Base on that day; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any increase for a positive Daily Value Percentage, as locked on that second Market Close; or minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any decrease for a negative Daily Value Percentage, as locked on that second Market Close.

See the "Indexed Strategy Value After Performance Lock Election" section on page 48 for more information and examples.

**Positive Return Factors** 

We may limit the positive Index return used in calculating gain credited to an Indexed Strategy at the end of its Term through the use of a Cap, an Upside Participation Rate, a combination thereof, or a Trigger Rate. The Cap, Upside Participation Rate, and Trigger Rate will vary for each Term. For information about the current Positive Return Factor rates offered for new Contracts, please contact your registered representative or refer to our website (<u>www.massmutualascend.com/index-summit-6-pro</u>). The Positive Return Factor rates posted on that website address are incorporated by reference into this prospectus. Current Positive Return Factor rates will not change during an Indexed Strategy's Term.

***Cap****.* The Cap for an Indexed Strategy is the maximum increase in the Strategy value over the course of a Term. For example, if the Index return (or for a Combination Strategy, the Index return multiplied by the Upside Participation Rate) over the Term is 16% and the Cap is 10%, the Strategy value will increase 10% for the Term. Before the end of a Term, the Cap is reflected in the formulas that we use to calculate the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **The Cap will vary among Indexed Strategies.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **The Cap for a given Indexed Strategy will vary from Term to Term.** 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **We guarantee that the Cap for a Term of an Indexed Strategy will never be less than 1%.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **For each Term, your return on a Cap Strategy will be less than any rise in the Index over that Term because of the deduction of the Daily Charge.** However, for a Term of a Combination Strategy with an Upside Participation Rate over 100%, the return might exceed the rise in the Index offset even after the Daily Charge is taken into account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **For each Term, your return on a Cap Strategy will be less than the Cap for that Term because of the deduction of the Daily Charge.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Your return on a Cap Strategy could be negative even when the Index rises. This will occur when the amount of increase attributable to an Index rise is smaller than the amount needed to offset the Daily Charge.** 

***Upside Participation Rate****.* The Upside Participation Rate for an Indexed Strategy is your share of any positive Index change (measured from the beginning of the Term to the end of the Term) that is taken into account to determine the Strategy value at the end of that Term. For example, if the Index return over the Term is 20% and the Upside Participation Rate is 75%, the Strategy value will increase 15% for the Term (75% of the increase in the value of the Index) unless the Strategy also has a Cap for that Term of less than 15%. For a Combination Strategy with both an Upside Participation Rate and a Cap, the Strategy value increase after application of the Upside Participation Rate cannot exceed the Cap. Before the end of a Term, the Upside Participation Rate is reflected in the formulas that we use to calculate Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **The Upside Participation Rate will vary among Indexed Strategies.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **The Upside Participation Rate for a given Indexed Strategy will vary from Term to Term.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **We guarantee that the Upside Participation Rate for a Term of an Indexed Strategy will never be less than 5%.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **For each Term, if the Upside Participation Rate is less than 100%, then your return on an Upside Participation Rate Strategy will be less than any rise in the Index over that Term. In addition, your return will be reduced by the Daily Charge.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Your return on an Upside Participation Rate Strategy could be negative even when the Index rises. This will occur when the amount of increase attributable to an Index rise is smaller than the amount needed to offset the Daily Charge.** 

***Trigger Rate.*** The Trigger Rate is the specified rate that is credited to the Strategy value when the Index change (measured at the start and end of the Term) qualifies for the Trigger Rate. In the case of a Performance Trigger Strategy, the Strategy values will increase by the Trigger Rate for the Term when the Index change is zero or positive at the end of the Term. For example, if the index return over the Term is 8% and the Trigger Rate for a Performance Trigger Strategy is 11%, the Strategy values will increase 11% (the Trigger Rate) for the Term. In the case of a Dual Performance Trigger Strategy, the Strategy values will increase by the Trigger Rate for the Term if the Index change is zero, positive, or negative up to the Buffer at the end of the Term. For example, if the index return over the Term is -5%, the Buffer Rate is -10% and the Trigger Rate for a Dual Performance Trigger Strategy is 10%, the Strategy values will increase 10% (the Trigger Rate) for the Term. Before the end of a Term, the Trigger Rate and the Index change required to qualify for the Trigger Rate are reflected in the formulas that we use to calculate the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **The Trigger Rate will vary among Indexed Strategies.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **The Trigger Rate for a given Indexed Strategy will vary from Term to Term.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **We guarantee that the Trigger Rate for a Term of a Trigger Strategy will never be less than 1%.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **For each Term, your return on a Trigger Strategy will be less than the Trigger Rate for that Term because of the deduction of the Daily Charge.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **For each Term, the Trigger Rate on a Dual Performance Trigger Strategy will be less than the Trigger Rate for that Term on a Performance Trigger Strategy.** 

**Positive Return Factors Set for Each Term** 

We set each Index's Positive Return Factor rate at our discretion based on the length of the Term, the cost of hedging, Daily Charge rates, interest rates, the Index change required to qualify for the Trigger Rate, and other market factors. On a non-discriminatory basis, we may also take into account the amount of the Purchase Payments received for a Contract. The Positive Return Factor rates for Contracts with larger Purchase Payments may be higher than the Positive Return Factor rates for Contracts with smaller Purchase Payments. You may obtain information regarding these Positive Return Factors by calling 1-800-789-6771 or on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>).

Before selecting an Indexed Strategy for investment, you should consider in consultation with your financial professional the limits on Index gains that may be appropriate for you based on your risk tolerance, investment horizon and financial goals. Generally, assuming the same Index and Term length, an Indexed Strategy that provides less potential for Index gains will tend to have more protection from Index losses. Conversely, assuming the same Index and Term length, an Indexed Strategy that provides more potential for Index gains will generally tend to have less protection from Index losses.

*Positive Return Factors for Initial Terms*. Each Purchase Payment is applied to an initial Term of a Strategy on the first Strategy Application Date on or after the date that the payment is received. The Positive Return Factor rates for each Strategy Application Date may vary. The Positive Return Factor rates for the first Strategy Application Date will be available on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) on the date you signed the application (as long as we receive the application for the Contract within eight days after the date you sign it) and before the date of any Purchase Payment to which the Positive Return Factor rates will apply. If we receive the application for the Contract within eight days after the date you sign it, we will guarantee the Positive Return Factor rates in effect on the date you signed the application for three Strategy Application Dates from the date of the application.

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If we receive the signed application within eight days after the date you sign it, then for **1-year or 2-year Indexed Strategies**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For an initial Term starting on the first Strategy Application Date on or after the application date, the
Positive Return Factor rates will be the Positive Return Factor rates in effect on the date you signed the application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For an initial Term starting on one of the next two Strategy Application Dates, the Positive Return Factor rates
will be the higher of the Positive Return Factor rates in effect on the date you signed the application or the Positive Return Factor rates otherwise in effect for that Strategy Application Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For any initial Term starting on a later Strategy Application Date, the Positive Return Factor rates will be the
Positive Return Factor rates in effect for that Strategy Application Date.

If we receive the signed application within eight days after the date you sign it, then for **3-year or 6-year Indexed Strategies**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For an initial Term starting on the first Strategy Application Date on or after the application date or one of
the next two Strategy Application Dates, the Positive Return Factor rates will be the Positive Return Factor rates in effect on the date you signed the application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For any initial Term starting on a later Strategy Application Date, the Positive Return Factor rates will be the
Positive Return Factor rates in effect for that Strategy Application Date.

If we receive the signed application more than eight days after the date you sign it, then the guarantee does not apply and the Positive Return Factor rates for each Initial Term will be the Positive Return Factor rates in effect for that Strategy Application Date.

*Example 1*: You sign an application for a Contract on May 1 and allocate all of your Purchase Payments to the S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Strategy. On the date of the application, the Upside Participation Rate for the first Strategy Application Date (May 6) is 80%. We receive the application and the first Purchase Payment from you on May 8 and the second Purchase Payment from you on May 23. The Upside Participation Rates for the next two Strategy Application Dates are 85% (May 20) and 75% (June 6).

In this case, the initial 1-year Term for the first Purchase Payment would begin on May 20 and would have an 85% Participation Rate (the higher of the May 6 rate or the May 20 rate). The initial 1-year Term for the second Purchase Payment would begin on June 6 and would have an 80% Participation Rate (the higher of the May 6 rate or the June 6 rate).

If we had not received your signed application until May 10 (more than eight days after the date you signed the application), then you would not qualify for the rate guarantee, and the initial 1-year Term for the first Purchase Payment received on May 8 would have an 85% Participation Rate (the May 20 rate effective for Purchase Payments received between May 7 and May 20), and the initial 1-year Term for the second Purchase Payment received on May 23 would have a 75% Participation Rate (the June 6 rate effective for Purchase Payments received between May 21 and June 6).

*Example 2*: You sign an application for a Contract on May 1 and allocate all of your Purchase Payments to the S&P 500 6-year 10% Buffer with Upside Participation Rate and Cap Strategy. On the first Strategy Application Date (May 6), the Upside Participation Rate is 105% and the Cap is 16%. We receive the application and the first Purchase Payment from you on May 8 and the second Purchase Payment from you on May 23. On the May 20 Strategy Application Date, the Upside Participation Rate is 110% and the Cap is 17%, and on the June 6 Strategy Application Date, the Upside Participation Rate is 95% and the Cap is 15%.

In this case, the initial 6-year Term for the first Purchase Payment would begin on May 20 and would have an Upside Participation Rate of 105% and a Cap of 16% (the May 6 rates), and the initial 6-year Term for the second Purchase Payment would also have an Upside Participation Rate of 105% and a Cap of 16% (the May 6 rates).

If we had not received your signed application until May 10 (more than eight days after the date you signed the application), then the initial 6-year Term for the first Purchase Payment would have an Upside Participation Rate of 110% and a Cap of 17% (the May 20 rates), and the initial 6-year Term for the second Purchase Payment would have an Upside Participation Rate of 95% and a Cap of 15% (the June 6 rates).

***Positive Return Factors for Subsequent Terms*. At least 30 days before the end of each Term, we will send you a written notice with information about the Indexed Strategies that will be available for the next Term, and will indicate the date by which the Positive Return Factor rates will be posted on our website. The Positive Return Factor rates for the next Term will be available on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) at least 10 days before the start of the Term. You should consider this information before finalizing your renewal or reallocation decision.** 

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**Negative Return Factors** 

We will limit the negative Index return used in calculating loss charged to an Indexed Strategy at the end of its Term through the use of a Downside Participation Rate, a Floor, or a Buffer.

***Downside Participation Rate****.* The Downside Participation Rate for an Indexed Strategy is your share of any net fall in the Index for the Term (measured at the start and end of the Term) that is taken into account to determine the Strategy value at the end of that Term. For example, if the Index return over the Term is -18% and the Downside Participation Rate is 50%, the Strategy valuers will decrease 9% (50% of the negative Index change) for the Term. Before the end of a Term, the Downside Participation Rate is reflected in the formulas that we use to calculate the Net Option Price.

For each Term of each Downside Participation Rate Strategy that we currently offer for this Contract, the Downside Participation Rate is 50%. The Downside Participation Rate for an Indexed Strategy that is available on the Contract Effective Date will not change.

When the Index falls over a Term, the resulting Strategy value decrease will be larger than 50% of the Index fall. This is because the Daily Charge reduces the Investment Base before the Index fall is taken into account.

**In the future, we may offer a new Strategy with a Downside Participation Rate that offers more or less protection against loss than a 50% Downside Participation Rate, but we will not offer a new Downside Participation Rate Strategy that offers less protection against loss than a 75% Downside Participation Rate.** 

***Floor****.* The Floor for an Indexed Strategy is the portion of any net fall in the Index for the Term (measured at the start and end of the Term) that is taken into account to determine the Strategy value at the end of that Term. For each Term of each Floor Strategy that we currently offer for this Contract, the Floor is either -10% or 0%. For example, if the Index return is -18% and the floor is -10%, the Strategy values will decrease 10% (the maximum loss under the Floor) for the Term. Before the end of a Term, the Floor is reflected in the formulas that we use to calculate the Net Option Price.

The Floor for an Indexed Strategy that is available on the Contract Effective Date will not change.

When the Index falls over a Term, the resulting Floor Strategy value decrease will be larger than the rate of the Index fall unless the rate of the Index fall is equal to (or larger than) the Floor minus the Daily Charge rate. This is because the Daily Charge reduces the Investment Base before the Index fall is taken into account.

**In the future, we may offer a new Floor Strategy with a Floor that offers more or less protection against loss than a -10% Floor, but we will not offer a new Floor Strategy that offers less protection against loss than a -20% Floor.** 

***Buffer****.* The Buffer for an Indexed Strategy is the portion of any net fall in the Index for the Term (measured at the start and end of the Term) that is disregarded when determining the Strategy value at the end of that Term. if the Index return over the Term is -18% and the Buffer is 10%, the Strategy values will decrease 8% (the amount that exceeds the Buffer) for the Term. Before the end of a Term, the Buffer is reflected in the formulas that we use to calculate the Net Option Price.

For each Term of each 10% Buffer Strategy that we currently offer for this Contract, the Buffer is 10%, and for each Term of each 20% Buffer Strategy that we currently offer with this Contract, the Buffer is 20%. The Buffer for an Indexed Strategy that is available on the Contract Effective Date will not change.

When the Index falls over a Term, the resulting Buffer Strategy value decrease will be larger than the rate of the Index fall minus the Buffer. This is because the Daily Charge reduces the Investment Base before the Index fall is taken into account.

**In the future, we may offer a new Strategy with a Buffer that offers more or less protection against loss than a 10% Buffer or a 20% Buffer, but we will not offer a new Buffer Strategy that offers less protection against loss than a 5% Buffer.** 

We set the Downside Participation Rate, Floor, or Buffer for each Indexed Strategy we offer at our sole discretion. We consider various factors in determining the limit on Index losses, including the cost of our risk management techniques, sales commissions, administrative expenses, regulatory and tax requirements, general economic trends, and competitive factors.

Before selecting an Indexed Strategy for investment, you should consider in consultation with your financial professional the limits on Index losses that may be appropriate for you based on your risk tolerance, investment horizon and financial goals. Generally, assuming the same Index and Term length, an Indexed Strategy that provides more protection from Index losses will tend to have less potential for Index gains. Conversely, assuming the same Index and Term length, an Indexed Strategy that provides less protection

from Index losses will generally tend have more potential for Index gains.

**INDEXED STRATEGY VALUE AT END OF TERM** 

On or after the final Market Day of a Term, unless you have made a Performance Lock election, the value of an Indexed Strategy is the Investment Base increased based on the performance of the applicable Index (after application of Positive Return Factors) or decreased for any net fall in the applicable Index (after application of Negative Return Factors) over that Term. If you have made a Performance Lock election, then the normal rules set out in this section do not apply, and the value at the end of a Term is determined as described under Indexed Strategy Value After Performance Lock Election section on page 48.

------

After taking Daily Charges into account, any increase or decrease is based on the rise or fall in the applicable Index since the start of that Term. This rise or fall is expressed as a percentage of the Index at the start of the Term. It is measured from the Index at the last Market Close on or before the first day of that Term to the Index at the final Market Close of the Term.

*Example.* The Index was 1000 at the last Market Close on or before for first day of a Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Index at the final Market Close of the Term is 1065, then the Index has risen by 6.5% ((1065 – 1000)
/ 1000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Index at the final Market Close of the Term is 925, then the Index has fallen by 7.5% ((925 – 1000)
/ 1000).

**The following examples illustrate how we calculate Strategy values under each Index crediting methodology assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The examples assume no withdrawals.** 

**Downside Participation Rate with Cap Strategy** 

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value at the end of a Term of a Downside Participation Rate Strategy with a Cap.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = any net rise in the Index for the Term, but never more than the Cap

Decrease percentage = any net fall in the Index for the Term x Downside Participation Rate

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year 50% Downside Participation Rate with Cap Strategy and the Cap for the Term is 14%. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges). You have not made a Performance Lock election.

---

| | | |
|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | –16% |
|  Increase or decrease percentage | +14% (16% > 14% Cap) | –8% (50% of –16%) |
|  Dollar amount of increase or decrease | +13,867 ($99,050 x 14%) | –7,924 ($99,050 x –8%) |
|  Strategy value at end of Term | $112,917 ($99,050 + $13,867) | $91126 ($99050 - $7924) |

---

**Downside Participation Rate with Upside Participation Rate Strategy** 

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value at the end of a Term of a Downside Participation Rate with Upside Participation Rate Strategy.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = any net rise in the Index for the Term x Upside Participation Rate

Decrease percentage = any net fall in the Index for the Term x Downside Participation Rate

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy and the Upside Participation Rate for the Term is 75%. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges). You have not made a Performance Lock election.

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| | | |
|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | –16% |
|  Increase or decrease percentage | +12% (75% of 16%) | –8% (50% of –16%) |
|  Dollar amount of increase or decrease | +11,886 ($99,050 x 12%) | –7,924 ($99,050 x –8%) |
|  Strategy value at end of Term | $110,936 ($99,050 + $11,886) | $91126 ($99050 - $7924) |

---

**Buffer with Upside Participation Rate Strategy** 

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value at the end of a Term of a Buffer with Upside Participation Rate Strategy.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = any net rise in the Index for the Term x Upside Participation Rate

------

Decrease percentage for the Buffer with Upside Participation Rate Strategy = any net fall in the Index for the Term to the extent it is greater than the Buffer

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year 10% Buffer with Upside Participation Rate Strategy and the Upside Participation Rate for the Term is 130%. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges). You have not made a Performance Lock election.

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| | | |
|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | –16% |
|  Increase or decrease percentage | +16.8% (105% of 16%) | –6% (-16% - -10%) |
|  Dollar amount of increase or decrease | +16,640 ($99,050 x 16.8%) | 5,943 ($99,050 x –6%) |
|  Strategy value at end of Term | $115,690 ($99,050 + $16,640) | $93107 ($99050 - $5943) |

---

**Buffer with Cap Strategy** 

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value at the end of a Term of 10% Buffer with Cap Strategy.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = any net rise in the Index for the Term, but never more than the Cap

Decrease percentage = any net fall in the Index for the Term to the extent it is greater than the Buffer

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year 10% Buffer with Cap Strategy and the Cap for the Term is 13%. You do not take any withdrawals during that Term. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges). You have not made a Performance Lock election.

---

| | | |
|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | –16% |
|  Increase or decrease percentage | +13% (16% > 13% Cap) | –6% (–16% - -10%) |
|  Dollar amount of increase or decrease | +12,876 ($99,050 x 13%) | –5,943 ($99,050 x –6%) |
|  Strategy value at end of Term | $111,926 ($99,050 + $12,876) | $93107 ($99050 - $5943) |

---

**Buffer with Upside Participation Rate and Cap Strategy (Combination Strategy)** 

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value at the end of a Term of 10% Buffer with Upside Participation Rate and Cap Strategy.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = any net rise in the Index x the Upside Participation Rate, but never more than the Cap

Decrease percentage = any net fall in the Index for the Term to the extent it is greater than the Buffer

*Example.* At the beginning of a Term, you allocate $100,000 to a 3-Year 10% Buffer with Upside Participation Rate and Cap Strategy, and the Upside Participation Rate is 125%, the Cap for the Term is 18%, and you do not take any withdrawals during that Term. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges). You have not made a Performance Lock election.

---

| | | |
|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | –16% |
|  Index Change x Upside Participation Rate | +20% (125% of 16%) | n/a |
|  Increase or decrease percentage | +18% (20% > 18% Cap) | –6% (–16% - - 10%) |
|  Dollar amount of increase or decrease | +17,829 ($99,050 x 18%) | –5,943 ($99,050 x –6%) |
|  Strategy value at end of Term | $116,879 ($99,050 + $17,829) | $93107 ($99050 - $5943) |

---

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**Floor with Cap Strategy** 

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value at the end of a Term of a Floor with Cap Strategy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or
decrease percentage

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increase percentage = any net rise in the Index for the Term, but never more than the Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Decrease percentage = any net fall in the Index for the Term, but never more than the Floor

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year -10% Floor with Cap Strategy and the Cap for the Term is 14%. You do not take any withdrawals during that Term. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges). You have not made a Performance Lock election.

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| | | |
|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | –16% |
|  Increase or decrease percentage | +14% (16% > 14% Cap) | –10% (–16% < -10%) |
|  Dollar amount of increase or decrease | +13,867 ($99,050 x 14%) | –9,905 ($99,050 x –10%) |
|  Strategy value at end of Term | $112,917 ($99,050 + $13,867) | $89145 ($990500 - $9905) |

---

**Buffer with Performance Trigger Strategy** 

Here are the formulas that we use to calculate the Strategy value at the end of a Term of a Buffer with Performance Trigger Strategy.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = the Trigger Rate, applied when Index returns are positive or zero

Decrease percentage = any net fall in the Index for the Term to the extent it is greater than the Buffer

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year 10% Buffer with Performance Trigger Strategy and the Trigger Rate for the Term is 11%. You do not take any withdrawals during that Term. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges).

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **At Final Market Close of Term** | **At Final Market Close of Term** | **At Final Market Close of Term** | **At Final Market Close of Term** |
|  Assumed Rise or fall in Index | +16% | 0% | –6% | –16% |
|  Increase or decrease percentage | +11% (11% Trigger<br>Rate) | +11% (11% Trigger<br>Rate) | 0% (–6% > -10%) | –6% (–16% < -10%) |
|  Dollar amount of increase or decrease | +10,895 ($99,050 x<br>11%) | +10,895 ($99,050 x<br>11%) | 0 ($99,050 x 0%) | –5,943 ($99,050 x –6%) |
|  Strategy value at end of Term | $109,945 ($99,050 +<br>$10,895) | $109,945 ($99,050 +<br>$10,895) | $99050 ($99050 -$0) | $93107 ($99050 -<br>$5943) |

---

**Buffer with Dual Performance Trigger Strategy** 

Here are the formulas that we use to calculate the Strategy value at the end of a Term of a Buffer with Dual Performance Trigger Strategy.

Strategy value at end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after taking Daily Charges into account) x increase or decrease percentage

Increase percentage = the Trigger Rate, applied when Index returns are zero, positive, or negative but do not exceed the Buffer

Decrease percentage = any net fall in the Index for the Term to the extent it is greater than the Buffer

------

*Example.* At the beginning of a Term, you allocate $100,000 to a 1-Year 10% Buffer with Dual Performance Trigger Strategy and the Trigger Rate for the Term is 8%. You do not take any withdrawals during that Term. Your contract has a Daily Charge rate of 0.95%, so your Investment Base at the end of that Term is $99,050 ($100,000 - $950 in Daily Charges).

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **At Final Market Close**<br>**of Term** | **At Final Market Close**<br>**of Term** | **At Final Market Close**<br>**of Term** | **At Final Market Close**<br>**of Term** |
|  Assumed Rise or fall in Index | +16% | 0% | –6% | –16% |
|  Increase or decrease percentage | +8% (8% Trigger Rate) | +8% (8% Trigger Rate) | +8% (8% Trigger Rate) | –6% (–16% < -10%) |
|  Dollar amount of increase or decrease | +7,924 ($99,050 x 8%) | +7,924 ($99,050 x 8%) | +7,924 ($99,050 x 8%) | –5,943 ($99,050 x –6%) |
|  Strategy value at end of Term | $106,974 ($99,050 +<br>$7,924) | $106,974 ($99,050 +<br>$7,924) | $106,974 ($99,050 +<br>$7,924) | $93107 ($99050 -<br>$5943) |

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**INDEXED STRATEGY VALUE BEFORE END OF TERM** 

Before the final Market Day of a Term, unless you have made a Performance Lock election, the value of an Indexed Strategy is the Investment Base increased or decreased by the Daily Value Percentage. If you have made a Performance Lock election, then the normal rules set out in this section do not apply, and the value after the effective date of the Performance Lock election through the end of the Term is determined as described under Indexed Strategy Value After Performance Lock Election section below. **See "Contract Adjustments" in the Statement of Additional Information for more details, including examples illustrating the operation of the Daily Value Percentage adjustment.**

In the absence of a Performance Lock election, here are the formulas that we use to calculate the Strategy value before the end of a Term.

Strategy value before end of Term = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base (after Daily Charges are taken into account) x Daily Value Percentage

Daily Value Percentage = Net Option Price – Residual Option Cost – Trading Cost

**Net Option Price** 

The Net Option Price is one part of the formula used to calculate Daily Value Percentage. The Net Option Price is based on the calculated prices of hypothetical options that represent the projected changes in the Index over the full Term. The model we use to price those options is described in the Option Prices section of the Statement of Additional Information. **For more information on how the Net Option Price is calculated for each strategy, see "Contract Adjustments" in the Statement of Additional Information.**

**Residual Option Cost** 

The Residual Option Cost is one part of the formula used to calculate Daily Value Percentage. The Residual Option Cost starts with the Net Option Price at the beginning of a Term, which is calculated using the formulas set out above. That Net Option Price is then multiplied by the time remaining in the Term as a percentage of the length of the Term.

The Residual Option Cost as of a Market Close is a percentage equal to: (1) the Net Option Price for the Strategy at the beginning of the Term; multiplied by (2) the number of days remaining until the final Market Close of the Term divided by 365 for a 1-year Term, by 730 for a 2-year Term, by 1,096 days for a 3-year Term, or by 2,192 days for a 6-year Term.

**Trading Cost** 

The Trading Cost is one part of the formula used to calculate the Daily Value Percentage. The Trading Cost as of a Market Close is the estimated cost of selling the hypothetical options before the end of a Term to the extent not already reflected in the option price. It is a percentage that reflects the average market difference between option bid-ask average prices and option bid prices. We may change the Trading Cost at any time due to changes in option prices.

**Maximum Loss Before the End of a Term** 

If you Surrender your Contract or take a withdrawal before the end of a Term, there is no set maximum loss because the Indexed Strategy value is determined using the Daily Value Percentage. The loss on a Floor Strategy may exceed the Floor, the loss on a Downside Participation Rate Strategy may exceed the 50% Downside Participation Rate, a 10% Buffer Strategy may not receive the benefit of the 10% Buffer, and a 20% Buffer Strategy may not receive the benefit of the 20% Buffer, because the use of the Daily Value Percentage means that the Residual Option Cost and Trading Cost are subtracted from the Strategy value. The Residual Option Cost and Trading Cost are determined each time the Daily Value Percentage is calculated. **As a result, in extreme circumstances, an Indexed Strategy may have no value before the end of a Term, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.**

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**INDEXED STRATEGY VALUE AFTER PERFORMANCE LOCK ELECTION** 

Performance Lock is an election to lock in the Daily Value Percentage for the remainder of a Term of an Indexed Strategy. You can make a Performance Lock election for each Term of an S&P 500 Strategy (excluding the 0% Floor with Cap Indexed Strategy and the three Trigger Strategies) and for each Term of a First Trust Barclays Edge Strategy. For Contracts with a Contract Effective Date on or after May 21, 2025, you may also make a Performance Lock election for each Term of a Russell 2000 Strategy. A Performance Lock election is not available for Contracts issued in Missouri with a Contract Effective Date before May 21, 2025. Only one performance lock election may be made for a given Term of a Strategy.

You may make a Performance Lock election by a Request in Good Order received prior to the third to last Market Close of a Term. A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked. You may access Daily Value Percentage information for the Indexed Strategies as of the previous day's Market Close by calling 1-800-789-6771 or by accessing your account online at <u>www.massmutualascend.com</u>.

If you make a Performance Lock election for a Term of a given Strategy, then the normal rules described in the Indexed Strategy Value at End of Term section and the Indexed Strategy Value Before End of Term section do not apply. Instead, beginning with the second Market Close after our receipt of the election, the Strategy value before the end of the Term and the Strategy value at the end of the Term is based on the Daily Value Percentage as locked at that second Market Close. This means that the Daily Value Percentage as of that second Market Close will apply from that date on through the end of the Term.

**Because a Performance Lock election is effective on the second Market Close following receipt of the election, you will not be able to determine in advance the locked Daily Value Percentage that will apply to the Indexed Strategy at the time you make a Performance Lock election. The locked Daily Value Percentage could be negative, even if it is positive on the day you request a Performance Lock. The locked Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term. When you elect a Performance Lock, your ending Strategy value will not be based on the ending Index value on the last day of the Term, which means you will not benefit from any rise in the Index during the balance of the Term and may earn less than you would have if you had not made a Performance Lock election. If the Daily Value Percentage is negative, you could lock in a loss, and the loss could be significant. Before electing a Performance Lock, you should consult with a financial advisor.** 

Beginning on that second Market Close and continuing through the end of the Term, the value of an Indexed Strategy is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Investment Base on that day; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any increase for a positive Daily Value Percentage, as locked on that second Market Close; or minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any decrease for a negative Daily Value Percentage, as locked on that second Market Close.

A Performance Lock election does not affect the Investment Base. This means that after a Performance Lock election is effective, the value of a locked Strategy will decline over the balance of the Term due to Daily Charges. The value of a locked Strategy will also be reduced by the amount of any withdrawal and Early Withdrawal Charges.

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If a Performance Lock election for a Strategy is permitted under your Contract, and your election takes effect before the last year of a 2-year, 3-year, or 6-year Term, then the Term for that Strategy will end on the next anniversary of the Term start date. If a new Term of the same Strategy is not available and you do not send us a reallocation request by that anniversary, then we will apply the ending value to a new Term of the default 1-year Indexed Strategy identified in the following table:

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| | |
|:---|:---|
| **Multi-Year Indexed Strategy ending after Performance Lock:** | **Default 1-Year Indexed Strategy for new Term:** |
| S&P 500 6-Year 10% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 10% Buffer with Cap |
| S&P 500 6-Year 20% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 20% Buffer with Cap |
| S&P 500 6-Year 10% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| S&P 500 6-Year 20% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 6-Year 10% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 6-Year 20% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy |
| Russell 2000 6-Year 10% Buffer with Upside Participation Rate | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 6-Year 20% Buffer with Upside Participation Rate | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| S&P 500 3-Year 10% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 10% Buffer with Cap |
| S&P 500 3-Year 20% Buffer with Upside Participation Rate and Cap | S&P 500 1-Year 20% Buffer with Cap |
| S&P 500 3-Year 10% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| S&P 500 3-Year 20% Buffer with Upside Participation Rate | S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 10% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 20% Buffer with Upside Participation Rate and Cap | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 10% Buffer with Upside Participation Rate | Russell 2000 1-Year 10% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |
| Russell 2000 3-Year 20% Buffer with Upside Participation Rate | Russell 2000 1-Year 20% Buffer with Cap, or, if not available, S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate |

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**Performance Lock Examples** 

*Examples.* Here are four examples that show how the Performance Lock election works for an S&P 500, First Trust Barclays Edge, or Russell 2000 Strategy. In each example, we assume that Performance Lock election is effective on day 90 of a 1-year Term.

**Assumptions** 

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| | | |
|:---|:---|:---|
| <u>*Option Price Assumptions*</u> | Price at Start of Term<br>(as a Percentage of<br>Index at Start of Term) | Price on Lock Effective<br>Date (as a Percentage<br>of Index at Start of<br>Term) |
|  ATM Call Option Price | 6.00% | 7.47% |
|  OTM Call Option Price | 1.15% | 1.81% |
|  ATM Put Option Price | 5.40% | 3.36% |
|  OTM Put Option Price | 4.50% | 2.80% |

---

---

| | |
|:---|:---|
| *<u>Strategy Assumptions</u>* |  |
|  Investment Base for each Strategy at Term end (after taking Daily Charges into account) | $99050 |
|  Cap for 1-year Term | 11% |

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**Example 1: 50% Downside Participation Rate with Cap Strategy** 

---

| | | |
|:---|:---|:---|
|  Lock effective date ATM Call Option Price – OTM Call Option Price | 5.66% | (7.47% – 1.81%) |
|  (Lock effective date ATM Put Option Price x Downside Participation Rate) | – 1.68% | (50% of 3.36%) |
|  ***Net Option Price on Lock effective date*** | = 3.98% |  |
|  Initial ATM Call Option Price – Initial OTM Call Option Price | 4.85% | (6.00% – 1.15%) |
|  (Initial ATM Put Option Price x Downside Participation Rate) | – 2.70% | (50% of 5.40%) |
|  Net Option Price | = 2.15% |  |
|  Amortization Factor for days remaining from Lock effective date to final Market Day of Term | x 75.34% | (275 / 365) |
|  ***Residual Option Cost on Lock effective date*** | = 1.62% |  |
|  Net Option Price | 3.98% |  |
|  Residual Option Cost | – 1.62% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Locked Daily Value Percentage*** | = 2.21% |  |
|  Dollar amount of increase at Term end | $2189 | ($99,050 x 2.21%) |
|  Value of 50% Downside Participation Rate with Cap Strategy at Term end | $101239 | ($99,050 + $2,189) |

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**Example 2: 50% Downside Participation Rate with Upside Participation Rate Strategy** 

---

| | | |
|:---|:---|:---|
|  Lock effective date ATM Call Option Price x Upside Participation Rate | 5.60% | (75% of 7.47%) |
|  (Lock effective date ATM Put Option Price x Downside Participation Rate) | – 1.68% | (50% of 3.36%) |
|  ***Net Option Price on Lock Effective Date*** | = 3.92% |  |
|  Initial ATM Call Option Price x Upside Participation Rate | 4.50% | (75% of 6.00%) |
|  (Initial ATM Put Option Price x Downside Participation Rate) | – 2.70% | (50% of 5.40%) |
|  Net Option Price | = 1.80% |  |
|  Amortization Factor for days remaining to final Market Day of Term | x 75.34% | (275 / 365) |
|  ***Residual Option Cost on Lock effective date*** | 1.36% |  |
|  Net Option Price | 3.92% |  |
|  Residual Option Cost | –1.36% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Locked Daily Value Percentage*** | = 2.41% |  |
|  Increase as a dollar amount as Term end | $2387 | ($99,050 x 2.41%) |
|  Value of 50% Downside Participation Rate with Upside Participation Rate Strategy at Term end | $101437 | ($99,050 + $2,387) |

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**Example 3: 10% Buffer with Cap Strategy** 

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| | | |
|:---|:---|:---|
|  Lock effective date ATM Call Option Price – OTM Call Option Price | 5.66% | (7.47%-1.81%) |
|  Lock effective date OTM Put Option Price | –2.80% |  |
|  ***Net Option Price on Lock effective date*** | = 2.86% |  |
|  Initial ATM Call Option Price – Initial OTM Call Option Price | 4.85% | (6.00%-1.15%) |
|  Initial OTM Put Option Price | – 4.50% |  |
|  Net Option Price | = 0.35% |  |
|  Amortization Factor for days remaining from Lock effective date to final Market Day of Term | x 75.34% | (275 / 365) |
|  ***Residual Option Cost on Lock effective date*** | 0.26% |  |
|  Net Option Price | 2.86% |  |
|  Residual Option Cost | –0.26% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Locked Daily Value Percentage*** | = 2.45% |  |
|  Dollar amount of increase at Term end | $2427 | ($99,050 x 2.45%) |
|  Value of 10% Buffer with Cap Strategy at Term end | $101477 | ($99,050 + $2,427) |

---

------

**Example 4: -10% Floor with Cap Strategy** 

---

| | | |
|:---|:---|:---|
|  Lock effective date ATM Call Option Price – OTM Call Option Price | 5.66% | (7.47% – 1.81%) |
|  (Lock effective date ATM Put Option Price – OTM Put Option Price) | – 0.56% | (3.36% – 2.80%) |
|  ***Net Option Price on Lock effective date*** | = 5.10% |  |
|  Initial ATM Call Option Price – Initial OTM Call Option Price | 4.85% | (6.00% – 1.15%) |
|  - (Initial ATM Put Option Price – Initial OTM Put Option Price) | – 0.90% | (5.40% – 4.50%) |
|  Net Option Price | = 3.95% |  |
|  Amortization Factor for days remaining from Lock effective date to final Market Day of Term | x 75.34% | (275 / 365) |
|  ***Residual Option Cost on Lock effective date*** | = 2.98% |  |
|  Net Option Price | 5.10% |  |
|  Residual Option Cost | – 2.98% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Locked Daily Value Percentage*** | = 1.97% |  |
|  Dollar amount of increase at Term end | $1951 | ($99,050 x 1.970%) |
|  Value of -10% Floor with Cap Strategy at Term end | $101001 | ($99,050 + $1,951) |

---

*Examples*. Here is an example that shows how the Performance Lock election works with a 6-year 10% Buffer with Upside Participation Rate and Cap Strategy. In this example, we assume that the Performance Lock election is effective on day 2010 of a 6-year Term.

**Assumptions for Example 5** 

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| | | | |
|:---|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as<br>a Percentage<br>of Index at<br>Start of<br>Term)* | *Price on Lock<br>Effective Date<br>(as a<br>Percentage of<br>Index at Start of<br>Term)* |  |
|  ATM Call Option Price | 20.59% | 18.04% |  |
|  OTM Call Option Price | 3.15% | 2.02% |  |
|  OTM Put Option Price | 15.47% | 16.35% |  |
|  Strategy Assumptions |  |  |  |
|  Investment Base for each Strategy at end of Term (after taking Daily Charges into account) |  |  | $94434 |
|  Upside Participation Rate for 6-year Term |  |  | 130% |
|  Cap for 6-year Term |  |  | 25% |
|  Days remaining to last Market Day of 6-year Term |  |  | 182 |
|  Trading Cost Assumption | 2.03% |  |  |

---

------

**Example 5: 10% Buffer with Upside Participation Rate and Cap Indexed Strategy** 

---

| | | |
|:---|:---|:---|
|  Lock Effective Date ATM Call Option Price x Upside Participation Rate | 23.45% | (130% of 18.04%) |
|  Lock Effective Date OTM Call Option Price x Upside Participation Rate | – 2.86% | (130% of 2.02%) |
|  Lock Effective Date OTM Put Option Price | – 16.35% |  |
|  ***Net Option Price on Lock effective date*** | = 4.24% |  |
|  Initial ATM Call Option Price x Upside Participation Rate | 26.77% | (130% of 20.59%) |
|  Initial OTM Call Option Price x Upside Participation Rate | – 4.10% | (130% of 3.15%) |
|  Initial OTM Put Option Price | – 15.47% |  |
|  Net Option Price | = 7.20% |  |
|  Amortization Factor for days remaining from Lock effective date to final Market Day of Term | x 8.30% | (182 / 2192) |
|  ***Residual Option Cost on Lock effective date*** | 0.60% |  |
|  Net Option Price | 4.24% |  |
|  Residual Option Cost | –0.60% |  |
|  Assumed Trading Cost | – 2.03% |  |
|  ***Locked Daily Value Percentage*** | = 1.61% |  |
|  Increase as a dollar amount at Term end | $1520 | ($94,434 x 1.61%) |
|  Value of 10% Buffer with Upside Participation Rate Strategy at Term end | $95954 | ($94,434 + $1,520) |

---

For additional detailed examples regarding the impact of withdrawals on contract values and amounts realized, please refer to Appendix B.

**INDEXES** 

Any allocation to an Indexed Strategy does not represent an investment in an Index or in any securities or other assets included in an Index.

**S&P 500 Index** 

The S&P 500<sup>®</sup> Index is designed to reflect the large-cap sector of the U.S. equity market and, due to its composition, it also represents the U.S. equity market in general. It includes 500 leading companies and captures approximately 80% coverage of available market capitalization. The S&P 500 Index does not include dividends declared by any of the companies in this index. Consequently, any positive change in the Index over a Term will be lower than the total return on a direct investment in the stocks that comprise the S&P 500 Index. The S&P 500 Index is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index.

**SPDR Gold Shares ETF** 

The SPDR Gold Shares ETF represent units of beneficial interest in, and ownership of, the SPDR Gold Trust, an exchange traded fund that holds gold bullion. The investment objective of the trust is for the shares to reflect the performance of the price of gold bullion, less the trust's expenses. The shares are designed to mirror as closely as possible the price of gold, and the value of the shares relates directly to the value of the gold held by the trust, less its liabilities. The value of the gold held by the trust is determined using the London Bullion Market Association (LBMA) Gold Price PM. The SPDR Gold Shares ETF Index deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the Index to underperform a direct investment in gold bullion. The Gold Shares trade on the NYSE Arca under the symbol GLD. For more information, visit <u>www.spdrgoldshares.com</u>.

**iShares MSCI EAFE ETF** 

The iShares MSCI EAFE ETF is an exchange traded fund that seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada (MSCI EAFE Index). This underlying index includes stocks from Europe, Australasia, and the Far East. It may include large- or mid-capitalization companies. The components of the underlying index, and the degree to which these components represent certain industries and/or countries, are likely to change over time. The fund's adviser uses an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the underlying index. The iShares MSCI EAFE ETF Index deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in the securities composing the ETF.

The fund's shares trade on the NYSE Arca under the symbol EFA.

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**iShares U.S. Real Estate ETF** 

The iShares U.S. Real Estate ETF is an exchange traded fund that seeks to track the investment results of an index composed of U.S. equities in the real estate sector (Dow Jones U.S. Real Estate Index). This underlying index may include large-, mid- or small-capitalization companies. A significant portion of the underlying index is represented by real estate investment trusts (REITs), but the components are likely to change over time. The fund's adviser uses an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the underlying index. The iShares U.S. Real Estate ETF Index deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in the securities composing the ETF.

The fund's shares trade on the NYSE Arca under the symbol IYR.

**First Trust Barclays Edge Index** 

The First Trust Barclays Edge Index is designed to combine capital strength and value equity investment methodologies with a mix of US Treasury futures indexes for the potential to provide stable returns over time. The First Trust Barclays Edge Index consists of an equity component that combines stocks from the Capital Strength Index and the Value Line<sup>®</sup> Dividend Index. The Capital Strength Index starts with the largest 500 companies in the NASDAQ US benchmark index and then reduces the selection universe by screening for companies that meet minimum criteria including cash and/or short-term investments on their balance sheets, low debt-to-market cap ratios and attractive return-on-equity. It then selects the top 50 names from this smaller universe based on low historical volatility. The Value Line Dividend Index starts with the universe of stocks published in its The Value Line Investment Survey publication and then selects those with a Value Line<sup>®</sup> Safety Rank of 1 or 2, with attractive dividends and market cap of one billion dollars or above. It then equally weights all stocks that meet those conditions (generally, around 160-200 stocks). The First Trust Barclays Edge Index then combines the stocks represented in The Capital Strength Index and the Value Line Dividend Index with an equal-weight assigned to each underlying index and rebalanced back to equal-weight on a monthly basis. Furthermore, since the index is on an excess return basis (i.e., it returns the index performance in excess of risk-free rates), the risk-free return is deducted from the equity underliers. The risk-free rate used in this calculation is the U.S. Fed Funds Rate published by the Federal Reserve of New York (ticker: FEDL01) for each day divided by 360 as outlined in the Index Rulebook. No such adjustment is needed to the US Treasury futures indexes as these securities returns are naturally on an excess return basis. The First Trust Barclays Edge Index deducts fees and costs when calculating Index performance. This will reduce the Index's return and cause the Index to underperform a direct investment in the securities composing the Index.

The Index uses an optimizer to evaluate its exposure to stocks and US Treasury futures indexes on a daily basis to target a 7% volatility level. This volatility control mechanism aims to target or limit the volatility of the index return over time by adjusting the exposure of the index constituents through a rules-based process called mean-variance optimization. The optimizer defines risk using both shorter- and longer-term measures of historical realized volatility. It then seeks to determine the allocations between the equity and US Treasury futures index that produce the highest expected return for the target volatility level, subject to constraints. Depending on the constraints of the optimizer at the time, the Index may or may not allocate to the US Treasury futures indexes. When the volatility measures are low, the index can have exposure greater than 100%. However, the optimizer is constrained such that the exposure can never be greater than 225%. Likewise, when volatility is high, the index exposure can be less than 100%. In addition, the First Trust Barclays Edge Index generally rebalances based on end-of-day values in the event there is a deviation in the index component weights of 10% or more, on an absolute basis, from the previous index rebalance value.

For more information visit <u>https://www.ftindexingsolutions.com/</u>

The performance of the First Trust Barclays Edge Index reflects the deduction of operating costs and rebalancing costs from the valuation of the underlying indexes. These costs, deducted as an annualized percentage on a daily basis, are fixed for the underlying indexes. The operating costs for the First Trust Barclays Edge Index range from 0.20% to 0.60%, and the rebalancing costs for the First Trust Barclays Edge Index range from 0.02% to 0.03%. The operating costs represent an estimate of the costs that would be incurred to buy and sell the index components. The rebalancing costs represent an estimate of the costs that would be incurred each time the Index rebalances due to changes in weightings of the Index components. The deduction of these costs occurs at the First Trust Barclays Edge Index level (i.e., the return on the First Trust Barclays Edge Index is reduced based on the applicable operating and rebalancing costs).

**Russell 2000 Index** 

The Russell 2000<sup>®</sup> Index measures the performance of the small-cap segment of the US equity universe. The Russell 2000<sup>®</sup> Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set.

The Russell 2000<sup>®</sup> Index includes approximately 2,000 of the smallest companies, based on a combination of their market cap and current index membership, from the Russell 3000<sup>®</sup> Index. The Russell 3000<sup>®</sup> Index measures the performance of the largest 3,000 US companies, which represents the vast majority of the investable US equity market.

Compared to mid- and large-cap companies, small-cap companies may be less stable and more susceptible to adverse developments, and their securities may be more volatile.

The Russell 2000<sup>®</sup> Index is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index.

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**Index Values** 

For Indexed Strategies that use the S&P 500 Index, Russell 2000 Index, or the First Trust Barclays Edge Index, the Index is the level of the S&P 500 Index, Russell 2000 Index, or the First Trust Barclays Edge Index for the applicable Market Close. For Indexed Strategies that use the SPDR Gold Shares ETF, the iShares MSCI EAFE ETF or the iShares U.S. Real Estate ETF, the Index is the applicable exchange-traded fund's share price on the NYSE Arca at the applicable Market Close.

We will use consistent sources to obtain the values of an Index. We currently obtain the values for the S&P 500 Index and the SPDR Gold Shares ETF from S&P Dow Jones Indices LLC, the values for the iShares MSCI EAFE ETF and iShares U.S. Real Estate ETF from BlackRock, Inc., the values for the First Trust Barclays Edge Index from Bloomberg Index Services Limited, and the values for the Russell 2000 Index from FTSE Russell. If those sources are no longer available, we will select an alternative published source(s) to obtain such values.

**Additional Index information, including disclaimers, may be found in Appendix D.** 

**Historical Index Returns** 

The bar charts shown below provide each Index's annual returns for the last 10 calendar years (or for the life of the Index if less than 10 years), as well as the Index returns after applying a hypothetical 5% cap and a hypothetical -10% buffer. The chart illustrates the variability of the returns from year to year and shows how hypothetical limits on Index gains and losses may affect these returns. Past performance is not necessarily an indication of future performance.

**The performance below is NOT the performance of *any* Indexed Strategy. Your performance under the Contract will differ, perhaps significantly. The performance below may reflect a different return calculation, time period, and Positive Return Factor and Negative Return Factor than the Indexed Strategy does, and does not reflect Contract fees and charges, including Early Withdrawal Charges and the Daily Value Percentage adjustment, which reduce performance.**![LOGO](g947355g0819074653980.jpg)

\* The S&P 500 Index is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index. 

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![LOGO](g947355g0819074654355.jpg)

\* The SPDR Gold Shares ETF Index deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the Index to underperform a direct investment in gold bullion.

![LOGO](g947355g0819080958118.jpg)

\* The iShares MSCI EAFE ETF Index deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the Index to underperform a direct investment in the securities composing the Index.

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![LOGO](g947355g0819074654897.jpg)

\* The iShares U.S. Real Estate ETF deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the Index to underperform a direct investment in the securities composing the Index.

![LOGO](g947355g0819074655152.jpg)

\* The First Trust Barclays Edge Index is an "excess return index" that subtracts a risk-free interest rate from the price and dividend return of the securities. It also deducts fees and costs when calculating Index performance. This will reduce the Index's return and cause the Index to underperform a direct investment in the securities composing the Index. 

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![LOGO](g947355g0819080958960.jpg)

\* The Russell 2000<sup>®</sup> Index is a "price return index", not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index. 

**Index Replacement** 

We may replace or adjust an Index or rate, or the specified market to measure it, if the external market index or rate stops being published or the publication schedule is changed, the calculation of the external market index or rate is changed significantly, the investment fund terminates or there is a significant change in its investment objectives, strategies, or operations, the investment fund or commodity stops being traded on a specified market or the specified market declines in importance, we lose our license or permission to use the index or rate, we determine that hedging instruments are difficult to acquire or the cost of hedging becomes excessive, or under other circumstances approved by regulators. We may do so at the end of a Term or during a Term. We will notify you in writing at least 30 days before we replace an Index.

We would attempt to choose a replacement Index that is similar to the old Index. To determine if a new Index is similar, we will consider factors such as asset class, index composition, strategy, or methodology inherent to the index and index liquidity.

If we replace or adjust an Index connected to an Indexed Strategy during a Term, we will calculate the rise and fall in the Index using the old Index up until the replacement date. After the replacement date, we will calculate the rise and fall in the Index using the new Index, but with a modified start of Term value for the new Index. The modified start of Term value for the new index will reflect the rise or fall in the Index for the old Index from the start of the Term to the replacement or adjustment date.

If we replace or adjust an Index, the Positive Return Factor rate for the Term and the Negative Return Factor rate will not change.

*Examples.* These examples are intended to show how we would calculate the Strategy value on any day during a Term if we have replaced the Index used to calculate Strategy values during the Term. These examples assume: (1) you allocate $50,000 to an Indexed Strategy with a Cap of 8%; (2) a Daily Charge rate of 0.95% applies; (3) the replacement is made on day 90 of the Term; and (4) no Performance Lock election has been made. To simplify the example, we assume that you take no withdrawals during the Term.

*Example 1.* This example illustrates a situation where the old Index has risen at the time of its replacement.

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| | | |
|:---|:---|:---|
| **Rise or Fall of Index on Replacement Date for Old Index** | **Rise or Fall of Index on Replacement Date for Old Index** |  |
|  Old Index at Term start | 1000 |  |
|  Old Index on replacement date | 1050 |  |
|  Rise or fall of old Index on replacement date | (1050 - 1000 |) / 1000 = 5.00% |

---

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The 5% rise in the old Index on the replacement date is then used to calculate the modified start of Term value for the new Index.

---

| | | |
|:---|:---|:---|
| **Modified Start of Term Value for New Index** | **Modified Start of Term Value for New Index** |  |
|  Rise in old Index on replacement date | 5.00% |  |
|  New Index on replacement date | 1785 |  |
|  Modified start of Term value for new Index | 1785 / | (100% + 5.00%) = 1700 |

---

The modified start of Term value for the new Index is then used to calculate the Indexed Strategy value on any date after the replacement date, including the value at the Term end.

---

| | |
|:---|:---|
| **Indexed Strategy Value at Term End** | **Indexed Strategy Value at Term End** |
|  Investment Base at Term start | $50000 |
|  Accumulated Daily Charges | $475 |
|  Investment Base After Daily Charges | $49525 |
|  Modified start of Term value for new Index | 1700 |
|  Value of new Index at Term end | 1853 |
|  Rise in new Index | (1853 - 1700) / 1700) = 9.00% |
|  Cap | 8.00% |
|  Rise in new Index limited by Cap | 8.00% |
|  Increase as a percentage | 8.00% x 100% = 8.00% |
|  Dollar amount of increase | $49,525 x 8.00% = $3,962 |
|  Strategy value at Term end | $49,525 + $3,962 = $53,487 |

---

*Example 2.* This example illustrates a situation where the old Index has fallen at the time of its replacement.

---

| | | |
|:---|:---|:---|
| **Change in Index on Replacement Date for Old Index** | **Change in Index on Replacement Date for Old Index** |  |
|  Old Index at Term start | 1000 |  |
|  Old Index on replacement date | 950 |  |
|  Change in old Index on replacement date | (950 - 1000 |) / 1000 = -5.00% |

---

The 5% fall in the old Index on the replacement date is then used to calculate the modified start of Term value for the new Index.

---

| | | |
|:---|:---|:---|
| **Modified Start of Term Value for New Index** | **Modified Start of Term Value for New Index** |  |
|  Change in old Index on replacement date | -5.00% |  |
|  New Index on replacement date | 1786 |  |
|  Modified start of Term value for new Index | 1786 / | (100% - 5.00%) = 1880 |

---

The modified start of Term value for the new Index is then used to calculate the Indexed Strategy value on any date after the replacement date, including the value at the Term end.

---

| | |
|:---|:---|
| **Indexed Strategy Value at Term End** | **Indexed Strategy Value at Term End** |
|  Investment Base at Term start | $50000 |
|  Accumulated Daily Charges | $475 |
|  Investment Base after Daily Charges | $49525 |
|  Modified start of Term value for new Index | 1880 |
|  Value of new Index at Term end | 1598 |
|  Change in new Index | (1598 -1800) / 1700) = -15.00% |
|  Floor | -10% |
|  Change in new Index limited by Floor | -10.00% |
|  Change as a percentage | -10.00% x 100% = -10.00% |
|  Dollar amount of change | $49,525 x -10.00% = -$4,953 |
|  Strategy value at Term end | $49,525 - $4,953 = $44,572 |

---

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**ACCESSING YOUR CONTRACT VALUES** 

**Cash Benefit** 

**Surrender** 

You may Surrender your Contract at any time before the earlier of: (1) the Annuity Payout Initiation Date; or (2) a death for which a Death Benefit is payable. The right to Surrender may be restricted if your Contract is purchased under an employer plan subject to IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuity plans), or IRC Section 457(b) (governmental deferred compensation plans).

The amount paid upon Surrender is the Surrender Value. If you Surrender your Contract on a day that is not the end of a Term, the Surrender Value is based on the Daily Value Percentage of each Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term.

The amount paid on Surrender is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of the amount paid on Surrender may also be subject to an additional 10% federal penalty tax.

A Surrender must be made by a Request in Good Order. If you Surrender your Contract, the Contract terminates.

**Withdrawals** 

You may take a withdrawal from your Contract at any time before the earliest of: (1) the Annuity Payout Initiation Date; (2) a death for which a Death Benefit is payable; or (3) the date that this Contract is Surrendered. The right to withdraw may be restricted if your Contract is purchased under an employer plan subject to IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuity plans), or IRC Section 457(b) (governmental deferred compensation plans).

A withdrawal must be made by a Request in Good Order. The amount of any withdrawal must be at least $500. If the withdrawal would reduce the Account Value to less than the minimum value of $5,000, we will treat the withdrawal request as a request to withdraw the maximum amount that may be taken without reducing your Account Value to less than $5,000.

We will withdraw funds from your Account Value as of the date on which we receive your Request in Good Order or any later specified effective date. You may designate the Indexed Strategy or Strategies from which a withdrawal will be taken by a Request in Good Order prior to the date of the withdrawal. If you do not make a designation, we will take the withdrawal from the Indexed Strategies in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• first proportionally from funds, if any, that then qualify for a waiver of the Early Withdrawal Charge pursuant
to the provisions of the Indexed Strategy endorsement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then from the Purchase Payment Account; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then proportionally from Indexed Strategies having the shortest Term (meaning the withdrawal will be taken
proportionally from Indexed Strategies with 1-year Terms, and then proportionally from Indexed Strategies with 2-year Terms, and then proportionally from Indexed
Strategies with 3-year Terms, and finally from Indexed Strategies having 6-year Terms).

**Effect of Withdrawals** 

A withdrawal reduces the Account Value, which in turn reduces the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit.

If an Early Withdrawal Charge applies to your withdrawal, your Account Value will be reduced by the amount you receive plus the amount needed to pay the Early Withdrawal Charge.

A withdrawal from an Indexed Strategy other than at the end of a Term will be based on the Daily Value Percentage of the Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term. The withdrawal from an Indexed Strategy before the end of a Term will reduce the Investment Base and the Death Benefit Return of Premium Guarantee by an amount that is proportional to the reduction in the Strategy value If the Daily Value Percentage is negative, these proportional reductions could be significantly larger than the dollar amount of the withdrawal. A reduction in the Investment Base for a Term will reduce the gain from any future rise in the Index during that Term.

The amount withdrawn is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of a withdrawal may also be subject to an additional 10% federal penalty tax.

**Automated Withdrawals** 

You may elect to withdraw money from your Contract under any automated withdrawal program that we offer. Your Account Value must be at least $10,000 in order to make an automated withdrawal election. The minimum amount of each automated withdrawal payment is $100. Automated withdrawals will be taken from the Purchase Payment Account and Indexed Strategies of your Contract in the same order as any other withdrawal.

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**The Contract is intended for long-term investment purposes and the Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years, because of the assessment of Early Withdrawal Charges, or who plan to take withdrawals during Indexed Strategy Terms, because of the application of the Daily Value Percentage.** 

Subject to the terms and conditions of the automated withdrawal program, you may begin or discontinue automated withdrawals at any time. You must give us at least 30 days' notice to change any automated withdrawal instructions that are currently in place. Any request to begin, discontinue or change automated withdrawals must be a Request in Good Order. We reserve the right to discontinue offering automated withdrawals at any time.

Currently, we do not charge a fee to participate in an automated withdrawal program. However, we reserve the right to impose an annual fee in such amount as we may then determine to be reasonable for participation in the automated withdrawal program. If imposed, the fee will not exceed $30 annually.

Before electing an automated withdrawal, you should consult with a financial advisor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Automated withdrawals during a Term from an Indexed Strategy will systematically reduce the Investment Base,
which will reduce any subsequent increase in the Strategy value due to a positive Daily Value Percentage during that Term or a rise in the applicable Index at the end of that Term. Such reductions could be significant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Automated withdrawals will reduce the amount available under the Free Withdrawal Allowance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless a waiver applies, an Early Withdrawal Charge may apply to an automated withdrawal during the first six
Contract Years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If taken from an Indexed Strategy before the end of a Term, the value of an Indexed Strategy on an automated
withdrawal date will reflect the Daily Value Percentage on that date. Any Strategy value before the end of a Term will almost always be less, perhaps significantly less, than the value suggested by the rise or fall of the Index. In extreme
circumstances, an Indexed Strategy may have no value before the end of a Term due to the Daily Value Percentage, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term,
you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Automated withdrawals could result in significant loss due to taxes and reduce your ability to take full
advantage of any positive Index performance at the end of a Term.

**Exchanges, Transfers, and Rollovers** 

An amount paid on a withdrawal or Surrender may be paid to or for another annuity or tax-qualified account in a tax-free exchange, transfer, or rollover to the extent allowed by federal tax law.

**Annuity Payout Benefit** 

Under the Contract you may receive regular Annuity Payout Benefit payments for the duration of the period that you select. Once Annuity Payout Benefit payments start, you can no longer Surrender the Contract or take a withdrawal, no Death Benefit will be payable under your Contract, your Beneficiary designations will no longer apply, and the Indexed Strategies will no longer be available. The amount payable after death, if any, is governed by the Payout Option you select.

The Annuity Payout Benefit is payable if the Annuity Payout Initiation Date is reached before the earlier of: (1) a death for which a Death Benefit is payable; or (2) the date that this Contract is Surrendered.

Annuity Payout Benefit payments are subject to income tax to the extent that they represent Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of Annuity Payout Benefits may also be subject to an additional 10% federal penalty tax.

**Annuity Payout Initiation Date** 

The Annuity Payout Initiation Date is the first day of the first payment interval for which payment of the Annuity Payout Benefit is to be made. Annuity Payout Benefit payments are made at the end of each payment interval. This means that for annual payments, the first payment will be made one year after the Annuity Payout Initiation Date.

You may select the Annuity Payout Initiation Date by a Request in Good Order. We must receive your request before the last Market Close on or before the Annuity Payout Initiation Date you selected and at least 30 days before the first Annuity Payout Benefit payment is to be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest Annuity Payout Initiation you may select is the first Contract Anniversary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless we agree to a later date, the latest Annuity Payout Initiation Date you may select is the Contract
Anniversary following your 95th birthday or the 95th birthday of a joint owner, if earlier. If the Owner is not a human being such as a trust or a corporation, then the Annuity Payout Initiation Date may not be later than the Contract Anniversary
following the 95th birthday of the eldest Annuitant, unless we agree to a later date.

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The earliest permitted date and the latest permitted date for the Annuity Payout Initiation Date are set out in the Contract Specifications section of your Contract. The latest permitted date may change if an Owner changes.

If you do not select an Annuity Payout Initiation Date by the latest permitted date, we may select it for you. We will notify you in writing at least 45 days before the date we select. We will give you an opportunity to select an earlier date.

**Annuity Payout Amount** 

The amount of each payment under the Annuity Payout Benefit is determined on the Annuity Payout Initiation Date based on the Annuity Payout value on that date, the Payout Option that applies, the payment interval, an assumed interest rate, and for life options, the life expectancy of the Annuitant.

The Annuity Payout value is the amount that can be applied to the Annuity Payout Benefit is equal to: (1) the Account Value on the Annuity Payout Initiation Date; minus (2) premium tax or other taxes not previously deducted. If the Annuity Payout value is determined on a date other than the end of the Term, the Annuity Payout value will be based on the Daily Value Percentage or the locked Daily Value Percentage if you have made a Performance Lock election. The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term. Please see the "Indexed Strategy Value Before End of Term" section on page 47 or the "Indexed Strategy Value After Performance Lock Election" on page 48 for more information.

**Form of Annuity Payout Benefit** 

You may elect to have the Annuity Payout Benefit paid in any form of Payout Option that is available under your Contract. The available Payout Options are described in the "Payout Options" section on page 65. You may elect a Payout Option by a Request in Good Order. We must receive your request before the last Market Close on or before the Annuity Payout Initiation Date and at least 30 days before the first Annuity Payout Benefit payment is to be made.

If we have selected the Annuity Payout Initiation Date and you have not elected a Payout Option, the Annuity Payout Benefit is paid in the form of annual payments as a Life Payout with Payments for at Least a Fixed Period. That fixed period will be 10 years or, if fewer, the maximum number of whole years permitted by any tax qualification endorsement.

**Payee for Annuity Payout Benefit** 

Payment of the Annuity Payout Benefit generally is made to the surviving Owner(s) as the payee(s). In place of that, the surviving Owner(s) may elect for payment to be made as a tax-free exchange, transfer, or rollover, or for payment to be made to the Annuitant. That election must be made by a Request in Good Order that we receive at least 30 days before the payment date.

Payments that become due after the death of the payee are made to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the surviving Owner(s); or if none

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then to the surviving contingent payee(s) designated by the surviving Owner(s); or if none

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the estate of the last payee who received a payment

The portion of any Annuity Payout Benefit remaining after the death of an Owner or Annuitant must be paid at least as rapidly as payments were being made at the time of such death.

You may designate a contingent payee by a Request in Good Order. If you designate your spouse as a contingent payee and your marriage ends before your death, then we will treat your former spouse as having predeceased you except in the following situations: (1) if a court order provides that the former spouse's rights as a contingent payee are to continue; or (2) if the former spouse remains or becomes an Owner.

**Death Benefit** 

A Death Benefit is payable under your Contract if you die before the Annuity Payout Initiation Date and before the Contract is Surrendered. If your spouse is your sole beneficiary and elects to become a successor owner of the Contract, then no Death Benefit will be payable on account of your death.

When the Owner is a non-natural person, a Death Benefit is payable under the Contract if the Annuitant dies before the Annuity Payout Initiation Date and before the Contract is Surrendered. For this purpose, a non-natural person is a trust, custodial account, corporation, limited liability company, partnership, or other entity.

Only one Death Benefit will be paid under the Contract. If a Death Benefit becomes payable, it will be in place of all other benefits under the Contract, and all other rights under this Contract will terminate except for rights related to the Death Benefit.

A Death Benefit payment is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions.

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**Death Benefit Payout Date** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Death Benefit is to be paid as a lump sum, then it will be paid as soon as practicable after receipt of
Proof of Death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Death Benefit is to be paid under a Payout Option, then we will apply the Death Benefit value to a Payout
Option as soon as practicable after receipt of Proof of Death. That application date will be the first day of the first payment interval for which a payment is to be made. Death Benefit payments under a Payout Option are made at the end of each
payment interval. This means that, for annual payments, the first payment will be made one year after that application date.

**Death Benefit Amount** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Death Benefit is paid in a lump sum, then it is equal to the Death Benefit value, increased by any
additional post-death interest as required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Death Benefit will be paid as a series of periodic payments under a Payout Option, then the amount of each
payment under the Death Benefit is determined on the date that the Death Benefit value is applied to the Payout Option. The amount of each payment will be based on the Death Benefit value (increased by any additional post-death interest as required
by law to the date it is applied to the Payout Option), the Payout Option that applies, the payment interval, an assumed interest rate, and for life options, the life expectancy of the Beneficiary.

**Death Benefit Value** 

The Death Benefit value is the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Account Value for the date that the Death Benefit value is determined; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Death Benefit Return of Premium Guarantee

In either case, the Death Benefit value is reduced by premium tax or other taxes not previously deducted.

If your Contract Effective Date is on or after May 21, 2025, the Death Benefit value is determined as of the date that we receive Proof of Death. Thus, in many cases where there are multiple Beneficiaries, the Death Benefit value is determined only when the last Beneficiary submits the necessary documentation. Until then, the Contract values that remain in the Indexed Strategies will renew into new Terms of the same Strategies if the end of a Term is reached, and the Indexed Strategy values may fluctuate. The risk is borne by the Beneficiaries.

If your Contract Effective Date is before May 21, 2025, the Death Benefit value is determined as of the date that we receive Proof of Death or, if earlier, the first anniversary of death. If all Beneficiaries have not submitted the necessary documentation by the first anniversary of death, then the Death Benefit value as determined on that first anniversary will thereafter earn interest at a fixed rate at least equal to the rate required by state law.

For all Contracts, the Account Value will reflect the applicable Strategy values as calculated on the date the Death Benefit is determined. If the Death Benefit value is determined on a date other than the end of the Term, the Death Benefit value will be based on the Daily Value Percentage, or on the locked Daily Value Percentage if you have made a Performance Lock election. The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term. Please see the "Indexed Strategy Value Before End of Term" section on page 47 or the "Indexed Strategy Value After Performance Lock Election" on page 48 for more information.

***Proof of Death.*** Before making payment of a Death Benefit, or any other payment or transfer of ownership rights that depends on the death of a specified person, we will require Proof of Death. We may delay making any payment until it is received. For this purpose, proof of death is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a certified copy of a death certificate showing the cause and manner of death, or a certified copy of a decree
that is made by a court of competent jurisdiction as to the finding of death, or other proof that is satisfactory to us; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proof of each claimant's interest in the Death Benefit or other Contract rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a Request in Good Order from each claimant as to how to pay the Death Benefit.

**Death Benefit Return of Premium Guarantee** 

The Death Benefit Return of Premium Guarantee is equal to your Purchase Payments (the "Purchase Payment base"), reduced proportionally for all withdrawals, but not including amounts applied to pay Early Withdrawal Charges. The Death Benefit Return of Premium Guarantee is not reduced by Daily Charges.

The reduction in your Purchase Payment base for withdrawals will be in the same proportion that your Account Value was reduced on the date of the withdrawal. A proportional reduction in your Purchase Payment base could be larger than the dollar amount of your withdrawal.

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*Example.* Here is an example of how we calculate a proportional reduction of your Purchase Payment base. In this example, we assume you take an $8,000 withdrawal and the Purchase Payment base is larger than the Account Value at the time of the withdrawal. To simplify the example, we also assume no Early Withdrawal Charge, no premium tax is deducted, and no additional post-death interest is added.

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| | | | |
|:---|:---|:---|:---|
|  | Before Withdrawal | After Withdrawal | Explanation |
|  Account Value | $100000 | $92000 | Your withdrawal reduces your Account Value by<br>$8,000 (which is an 8% reduction in your Account<br> Value).$8,000 / $100,000 = 8% |
|  Purchase Payment base for Death Benefit | $120000 | $110400 | After the withdrawal, the Purchase Payment base<br>for the Death Benefit is also reduced by 8% or<br> $9,600.$120,000 x 8% = $9,600 |

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**Form of Death Benefit** 

You may elect to have the Death Benefit paid in one lump sum or in any form of Payout Option that is available under your Contract. The available Payout Options are described in the Payout Options section below. There is no additional charge associated with this election. Any election is subject to the Death Benefit Distribution Rules described below.

If you do not elect a different Payout Option, the Death Benefit is paid in the form of annual payments for a fixed period of two years.

You may make an election by a Request in Good Order. We must receive your request on or before the date of death for which a Death Benefit is payable. If you do not make such an election, the Beneficiary may make that election after the date of death. The Beneficiary's election must be made by a Request in Good Order that is received by us no later than the date that the Death Benefit value is applied to a Payout Option and at least 30 days before the date of the first payment to be made.

***Additional Rules for Payout Options****.* A Payout Option that is contingent on life is based on the life of the Beneficiary or, in some cases, the life of a person to whom the Beneficiary is obligated. We will pay the Death Benefit as a lump sum rather than as payments under a Payout Option if: (1) the Death Benefit is less than $2,000; or (2) as of the date that the Death Benefit value is to be applied to a Payout Option, the Death Benefit Distribution Rules do not allow a two-year payout.

**Payee of Death Benefit Payments** 

Death Benefit payments generally are made to the Beneficiary as the payee.

In place of that, the Beneficiary may elect to have payments made:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• as a tax-free exchange, transfer, or rollover to or for an annuity or tax-qualified account as permitted by federal tax law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in cases where the Beneficiary is an estate, trust, custodial account, corporation, limited liability company,
partnership, or other entity, to a person to whom the Beneficiary is obligated to make corresponding payments.

Payments that become due after the death of the Beneficiary are made to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the contingent payee designated as part of a Death Benefit Payout Option elected by you; or if none

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then to a contingent payee designated by the Beneficiary; or if none

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the estate of the last payee who received a payment.

Such payments are subject to the Death Benefit Distribution Rules described below.

You may designate a contingent payee by a Request in Good Order. A Beneficiary may make or change a payee or contingent payee, except a Beneficiary may not change a designation made as part of a Payout Option election made by you for the Death Benefit. If the Beneficiary designates his or her spouse as a contingent payee and their marriage ends before the Beneficiary's death, then we will treat the former spouse as having predeceased the Beneficiary except to the extent a court order provides that the former spouse's rights as a contingent payee are to continue.

**Death Benefit Distribution Rules** 

The Death Benefit Distribution Rules are summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For a Tax Qualified Contract. The Death Benefit must be paid in accordance with the tax qualification
endorsement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For a Nonqualified Contract. The Death Benefit must be paid either: (1) in full within five years of the
date of death; or (2) over the life of the Beneficiary or over a period certain not exceeding the Beneficiary's life expectancy, with payments at least annually, and with the first payment made within one year of the date of death.

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**Payout Options** 

The standard Payout Options are described below. The standard Payout Options will always be available, subject to tax law limitations. We will make payments in any other form of Payout Option requested by you that is acceptable to us at the time of any election. More than one Payout Option may be elected if the requirements for each Payout Option elected are satisfied. All elected Payout Options must comply with pertinent laws and regulations.

Payments under each standard Payout Option are made at the end of a payment interval. For example, if the Annuity Payout Initiation Date is October 31, 2029, and you select annual payments, then the first payment will be paid as of October 31, 2030.

**Fixed Period Payout** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Annuity Payout Benefit*** 

We will make periodic payments to you, or to the Annuitant, if you direct, for the fixed period of time that you select. For a nonqualified contract, fixed periods shorter than 10 years are not available. For a tax-qualified contract, the only fixed period available is 10 years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the payee dies before the end of the fixed period, then we will make periodic payments to the surviving
owner(s), or if none, then to the surviving contingent payee(s), or if none, then to the estate of the last payee who received payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In all cases, payments will stop at the end of the fixed period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Death Benefit*** 

We will make periodic payments to the Beneficiary for the fixed period of time that you or the Beneficiary selects. The fixed period cannot exceed the life expectancy of the Beneficiary. For a tax-qualified contract, the fixed period also cannot exceed 10 years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Beneficiary dies before the end of the fixed period, then we will make periodic payments to the contingent
payee designated as part of any Death Benefit Payout Option that you have elected. If no such contingent payee is surviving, then such payments will be made to a contingent payee designated by the Beneficiary. If there is no contingent payee
surviving, then such payments will be made to the estate of the last payee who received payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In all cases, payments will stop at the end of the fixed period.

**Life Payout** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Annuity Payout Benefit*** 

We will make periodic payments to you, or to the Annuitant, if you direct, for as long as the Annuitant lives. Payments will stop on the death of the Annuitant. This means that, even if we have made only one payment when the Annuitant dies, payments will stop.

If the Annuitant dies after the Annuity Payout Initiation Date but before the first payment, a Life Payout will not provide any benefit at all. In that case, we will reverse the Annuity Benefit Payout election and treat the Contract as if the Annuity Payout Initiation Date had not yet been reached.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Owner is living, this treatment will generally allow the Owner to choose between continuing the Contract
as a deferred annuity or electing a new Annuity Payout Initiation Date and another Payout Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Annuitant's death before the Annuity Payout Initiation Date would give rise to a Death Benefit, then
the Death Benefit will be available.

For a tax-qualified contract, a Life Payout is not available to all Beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Death Benefit*** 

We will make periodic payments to the Beneficiary for as long as the Beneficiary lives. Payments will stop on the death of the Beneficiary. This means that, even if we have made only one payment when the Beneficiary dies, payments will stop. For a tax-qualified contract, a Life Payout is not available to all Beneficiaries.

If the Beneficiary dies after the Death Benefit is applied to the Payout Option but before the first payment, a Life Payout will not provide any benefit at all. In that case, we will reverse the Payout Option election and allow the Beneficiary's estate to choose a new Payout Option or to take the Death Benefit as a lump sum.

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**Life Payout with Payments for at Least a Fixed Period** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Annuity Payout Benefit*** 

We will make periodic payments to you, or to the Annuitant, if you direct, for as long as the Annuitant lives. For a tax-qualified contract, fixed periods longer than 10 years are not available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Annuitant dies after the end of the fixed period you selected, then payments will stop on the death of the
Annuitant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Annuitant dies before the end of the fixed period you selected, then we will make periodic payments to the
surviving owner(s), or if none, then to the surviving contingent payee(s), or if none, then to the estate of the last payee who received payments. In this case, payments will stop at the end of the fixed period you selected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Death Benefit*** 

We will make periodic payments to the Beneficiary for as long as the Beneficiary lives. The fixed period cannot exceed the life expectancy of the Beneficiary. For a tax-qualified contract, a Life Payout with Payments for at Least a Fixed Period is not available to all Beneficiaries, and the fixed period also cannot exceed 10 years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Beneficiary dies after the end of the fixed period selected, then payments will stop on the death of the
Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Beneficiary dies before the end of the fixed period you or the Beneficiary selected, then we will make
periodic payments to the contingent payee designated as part of any Death Benefit Payout Option that you have elected. If no such contingent payee is surviving, then such payments will be made to a contingent payee designated by the Beneficiary. If
there is no contingent payee surviving, then such payments will be made to the estate of the last payee who received payments. In this case, payments will stop at the end of the fixed period you or the Beneficiary selected.

**Joint and One-Half Survivor Payout** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Annuity Payout Benefit*** 

We will make periodic payments to you, or to the primary Annuitant, if you direct, for as long as the primary Annuitant lives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the primary Annuitant dies and the secondary Annuitant does not survive the primary Annuitant, then payments
will stop on the death of the primary Annuitant. This means that, even if we have made only one payment when the primary Annuitant dies, payments will stop unless the secondary Annuitant survives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the primary Annuitant dies and the secondary Annuitant is surviving, then we will make one-half of the periodic payment to you, or the secondary Annuitant, if you direct, for the rest of the secondary Annuitant's life. In this case, payments will stop on the death of the secondary Annuitant.

If the Annuitant dies after the Annuity Payout Initiation Date but before the first payment, a Joint and One-Half Survivor Payout will never provide the full payment amount. In that case, if the secondary Annuitant agrees, we will reverse the Annuity Benefit Payout election and treat the Contract as if the Annuity Payout Initiation Date had not been reached.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Owner is living, this treatment will generally allow the Owner to choose between continuing the Contract
as a deferred annuity or electing a new Annuity Payout Initiation Date and another Payout Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Annuitant's death before the Annuity Benefit Payout Initiation Date would give rise to a Death
Benefit, then the Death Benefit will be available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For the Death Benefit*** 

We will make periodic payments to the Beneficiary for as long as the Beneficiary lives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Beneficiary dies and the contingent payee does not survive the Beneficiary, then payments will stop on the
death of the Beneficiary. This means that, even if we have made only one payment when the Beneficiary dies, payments will stop unless the contingent payee survives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Beneficiary dies and the contingent payee designated as part of the Death Benefit Payout Option election
is surviving, then we will make one-half of the periodic payment to the contingent payee for the rest of the contingent payee's life. In this case, payments will stop on the death of the contingent
payee.

If the Beneficiary dies after the Death Benefit is applied to the Payout Option but before the first payment, a Joint and One-Half Survivor Payout will never provide the full payment amount. In that case, if the contingent payee agrees, we will reverse the Payout Option election and allow the Beneficiary's estate to choose a new Payout Option or to take the Death Benefit as a lump sum.

For a tax-qualified Contract, a Joint and One-Half Survivor Payout is only available in certain cases where the Beneficiary is the surviving spouse of the owner.

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**Payments under a Payout Option** 

Payments under a Payout Option are calculated and paid as fixed dollar payments. The stream of payments is an obligation of the general account of MassMutual Ascend Life. Fixed dollar payments will remain level for the duration of the payment period. Once payments begin under a Payout Option, the Payout Option may not be changed. Once the Contract value is applied to a Payout Option, the periodic payments cannot be accelerated or converted into a lump sum payment unless we agree.

We will generally use the 2012 Individual Annuity Reserving Table with projection scale G2 for blended lives (60% female/40% male) with interest at 1% per year, compounded annually, to compute all guaranteed Payout Option factors, values, and benefits under the Contract. For purposes of calculating payments based on the age of a person, we will use his or her age as of his or her last birthday.

If your Contract Effective Date is on or after May 21, 2025, payments under a Payout Option for an Annuity Payout Benefit will not be less than those that would be provided by the application of the Surrender Value to purchase a single premium immediate annuity contract at the purchase rate offered by the Company to the same class of annuitant on the Annuity Payout Initiation Date, and payments under a Payout Option for a Death Benefit will not be less than those that would be provided by the application of the Death Benefit to purchase a single premium immediate annuity contract at the purchase rate offered by the Company to the same class of annuitant on the Death Benefit Payout Date.

**Considerations in Selecting a Payout Option** 

Payments under a Payout Option are affected by various factors, including the length of the payment period, the life expectancy of the person on whose life payments are based, and the frequency of the payment interval (monthly, quarterly, semi-annually, or annually).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Generally, the longer the period over which payments are made or the more frequently the payments are made, the
lower the amount of each payment because more payments will be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Life Payout Options, the longer the life expectancy of the Annuitant or Beneficiary, the lower the amount of
each payment because more payments are expected to be paid.

**Non-Human Payees under a Payout Option** 

Except as stated below, the primary payee under a Payout Option must be a human being. All payments during his or her life must be made by check payable to the primary payee or by electronic transfer to a bank account owned by the primary payee.

*Exceptions*.** Below are some exceptions to the general rule that the primary payee must be a human being. We may make other exceptions in our discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A nonhuman that is the Owner of the Contract may be the primary payee. For example, if the Owner is a trust, that
trust may be the primary payee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments may be made payable to another insurance company or financial institution as a tax-free exchange, transfer, or rollover to or for another annuity or tax-qualified account as allowed by federal tax law.

**PROCESSING PURCHASE PAYMENTS AND REQUESTS** 

**Processing Purchase Payments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we receive a Purchase Payment on a Market Day before the Market Close, we will apply it to your Contract on
that Market Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we receive a Purchase Payment on a Market Day after the Market Close or on a day that is not a Market Day,
then we will apply it to your Contract on the next Market Day.

An amount applied to a Contract will be held in the Purchase Payment Account until it is applied to an Indexed Strategy or Strategies on a Strategy Application Date pursuant to your instructions. We cannot apply an amount held in the Purchase Payment Account to an Indexed Strategy or Strategies if we do not have complete instructions from you.

If you have any questions, you should contact us or your registered representative before sending a Purchase Payment.

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**Processing Requests** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Requests may be made by mail at P.O. Box 5423, Cincinnati OH 45201-5423.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Requests by fax may be made at 800-807-9777.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Requests for reallocations among Indexed Strategies may be made by telephone at 1-800-789-6771 between 8:00 AM and 4:00 PM Eastern Time Monday through Friday. We may also permit reallocation requests to be made at our website
(<u>www.massmutualascend.com</u>). Some selling firms may restrict the ability of their registered representatives to convey reallocation requests by telephone or Internet on your behalf.

To obtain one of our forms (for example, a Strategy Selection form or a Withdrawal Request form) or to obtain more information about how to make a request, call us at 1-800-789-6771 or send us a fax at 800-807-9777. You can also request forms or information by mail at MassMutual Ascend Life Insurance Company, P.O. Box 5423, Cincinnati OH 45201-5423. You may also obtain forms on our website (<u>www.massmutualascend.com</u>).

We cannot process a request unless it is a Request in Good Order. A request may be rejected or delayed if it is not a Request in Good Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we receive a Request in Good Order on a Market Day before the Market Close, we will process it using values
determined for the Market Close on that Market Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we receive a Request in Good Order after the Market Close or on a day that is not a Market Day, then we will
treat that request as received at the start of the next Market Day.

If you have any questions, you should contact us or your registered representative before submitting the request.

*Exception*. If a withdrawal under an automated withdrawal program is scheduled for a date that is not a Market Day, then we will process the withdrawal on the scheduled date using values at the most recent Market Close. For example, if the automated withdrawal is scheduled for a date that falls on Sunday and there was a Market Close at 4:00 PM on the previous Friday, then we will process the withdrawal on Sunday using values determined at 4:00 PM on that Friday.

**Market Days and Market Close** 

A Market Day is each day that all markets that are used to measure available Indexed Strategies are open for regular trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Saturdays, Sundays, holidays, and any other day that the New York Stock Exchange and the NYSE Arca are closed are
not Market Days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The NYSE and the NYSE Arca observe the following holidays: New Year's Day, Martin Luther King, Jr. Day,
Presidents' Day, Good Friday, Memorial Day, Juneteenth, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.

A Market Close is the close of the regular or core trading session on the market used to measure a given Indexed Strategy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Regular trading hours on the NYSE and core trading sessions on the NYSE Arca usually end at 4:00 PM Eastern Time

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trading hours on the NYSE and core trading sessions on the NYSE Arca end at 1:00 PM Eastern Time on the day
before the Fourth of July and the Friday after Thanksgiving and Christmas Eve.

Regular trading or a core trading session may end at a different time on a Market Day under certain circumstances when and as permitted under applicable rules. Such circumstances generally cannot be predicted in advance.

Specific information about NYSE and NYSE Arca holidays and trading hours in any given calendar year is available at <u>https://www.nyse.com/markets/hours-calendars</u>.

**Receipt of Purchase Payments, Applications and Requests** 

For purposes of processing, we deem Purchase Payments and applications, Requests in Good Order, and other instructions (paperwork) mailed to our post office box as received by us at our administrative office when the Purchase Payment or the paperwork reaches the applicable processing department located at 191 Rosa Parks Street, Cincinnati OH 45202.

**Risks and Limitations Related to Requests by Telephone or Internet** 

We will use reasonable procedures such as requiring certain identifying information, tape recording the telephone instructions, and providing written confirmation of the transaction, in order to confirm that instructions communicated by telephone, fax, Internet or other means are genuine. Any telephone, fax or Internet instructions reasonably believed by us to be genuine will be your responsibility, including losses arising from any errors in the communication of instructions. As a result of this policy, you will bear the risk of loss. We are not responsible for the validity of any request or action.

Telephone and computer systems may not always be available. Any telephone or computer system, whether it is yours, your service provider's, your agent's, or ours, can experience outages or slowdowns for a variety of reasons. These outages or slowdowns may delay or prevent our processing of your request. Although we have taken precautions to help our systems handle heavy use, we cannot promise complete reliability under all circumstances. If you experience technical difficulties or problems, you should consider making your request by mail.

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If you purchase your contract and subsequently move or travel to a country for which we restrict website access due to Office of Foreign Assets Control (OFAC) sanctions, other US government regulations, or high computer hacker risk, you will only be able to submit transaction requests via telephone, U.S. postal service, or private carriers. The list of countries for which we currently block website access is as follows: Iran, Russia, North Korea, Ukraine, China, Syrian Arab Republic, Tunisia, Belarus, Turkey, South Korea, Venezuela, Palestinian Territory, and Vietnam. We will update this list from time to time, as needed.

**Suspension of Payments or Transfers** 

We may be required to suspend or delay payments, withdrawals, and reallocations when we cannot obtain an Index value because:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the New York Stock Exchange or NYSE Arca is closed (other than customary weekend and holiday closings);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• trading on the New York Stock Exchange or NYSE Arca is restricted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an emergency exists such that it is not reasonably practicable to determine fairly the value of the Index.

In this case, we will make payments and process withdrawals and reallocations as soon as practicable after we are able to obtain the Index value.

We may suspend or delay payments, withdrawals, and reallocations when we are permitted to do so under a regulatory order. In this case, we will make payments and process withdrawals and reallocations when the order is no longer in effect.

**Restrictions on Financial Transactions** 

Federal laws designed to counter terrorism and prevent money laundering might, in certain circumstances, require us to block an Owner's ability to make certain transactions. This means that we may be required to refuse to accept any request for withdrawals, Surrenders, Annuity Payout Benefit payments or Death Benefit payments, until instructions are received from the appropriate regulator. We may also be required to provide additional information about you and your Contract to government regulators.

**OWNER** 

The Owner possesses all of the ownership rights under a Contract. The Owner is set out in the Contract Specifications section of your Contract or is the person who becomes the Owner under the Change of Owner provision or the Successor Owner provision of your Contract.

During the Accumulation Period, the Owner's rights include making allocations among the Indexed Strategies, taking a withdrawal or Surrender, electing a Payout Option, and designating a Beneficiary. During the Annuity Payout Period, unless released by the Owner, the Owner's rights include receiving Annuity Payout Benefit payments or directing payments to the Annuitant and naming a contingent payee. After a death for which a Death Benefit is payable, the rights of the Owner cease and all rights to the Death Benefit are held by the Beneficiary or Beneficiaries.

**Joint Owners** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Nonqualified Contract*.** Two persons may jointly own the Contract. In this case, the
term "Owner" includes the joint Owner and you must exercise all rights of ownership by joint action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Tax Qualified Contract*.** No joint owner is permitted.

**Change of Owner** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Nonqualified Contract.*** **  You may change the Owner only with our written consent. We may
deny consent to a transfer only as stated in the **Limitations on Transfer or Assignment** section. A change of Owner cancels all prior Beneficiary designations. It does not cancel a designation of an Annuitant or a Payout Option election. We may
deny consent to a transfer only as stated in the Limitations on Transfer or Assignment section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Tax Qualified Contract*.** You cannot change the Owner except to the limited extent
permitted by the tax qualification endorsement.

A change of Owner must be made by a Request in Good Order. A change of Owner may have adverse tax consequences. A change of Owner will be subject to any payments we make or actions we take before we receive the Request in Good Order.

**Assignment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Nonqualified Contract*.** You may pledge, charge, encumber or assign you interest in this
Contract only with our written consent. We may deny consent to an assignment only as stated in the  ***Limitations on Transfer or Assignment*** section. If we grant our consent, you may assign all or any part of your rights under this
Contract except your rights to designate or change a Beneficiary or an Annuitant, to change Owners, or to elect a Payout Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Tax Qualified Contract*.** You cannot pledge, charge, encumber or in any way assign your
interest in this Contract except to the limited extent permitted by the tax qualification endorsement.

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An assignment must be requested by a Request in Good Order We are not responsible for the validity of any assignment. An assignment may have adverse tax consequences. An assignment will be subject to any payments we make or actions we take before we receive the Request in Good Order.

If we have consented to an assignment, the rights of a person holding the assignment, including the right to any payment under this Contract, come before the rights of an Owner, Annuitant, Beneficiary, or other payee. An assignment may be ended only the person holding it or as provided by law.

**Limitations on Transfer or Assignment** 

We may deny your request to change the Owner of the Contract or to assign an interest in or right under it to the extent we determine necessary to comply with federal or state law or regulation that limits the transferability or assignment of the Contract.

**Successor Owner** 

Your spouse becomes the successor owner of the Contract and succeeds to all rights of ownership if all of the following requirements are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a Death Benefit is payable on account of your death;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you were not a successor owner of the Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your spouse is the only Beneficiary entitled to the Death Benefit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your spouse elects to become the successor owner.

A successor owner election cancels all prior Beneficiary designations. It does not cancel a designation of an Annuitant or a Payout Option election.

In some states, state law extends this successor owner right to a civil union partner or other person who is not your spouse as defined by federal tax law. In that case, distributions after your death must be made as required by the Death Benefit Distributions Rules described in the Death Benefit section on page 62.

**Community Property** 

If you live in a community property state and have a spouse at any time while you own this Contract, the laws of that state may vary your ownership rights.

**ANNUITANT** 

The Annuitant is a human being on whose life Annuity Payout Benefit payments are based. You may designate up to two Annuitants. The Annuitant is a person named as an Annuitant in the Contract Specifications section of your Contract or is a person who becomes an Annuitant when permitted under the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Nonqualified Contract*** . The Annuitant cannot be changed at any time that the Contract is owned
by a trust, custodial account, corporation, limited liability company, partnership, or other entity. Otherwise, you may change a designation of Annuitant at any time before the Annuity Payout Initiation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***For a Tax Qualified Contract*** . The Annuitant must be the human being covered under the retirement
arrangement for whose benefit the Contract is held.

A change of Annuitant must be made by a Request in Good Order. A change of Annuitant does not cancel a designation of a Beneficiary or a Payout Option election.

If an Annuitant dies before the Annuity Payout Initiation Date and no Death Benefit is payable, then in the absence of a new designation, the Annuitant will be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the surviving joint Annuitant(s); or if none

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Owner(s).

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**BENEFICIARY** 

A Beneficiary is a person entitled to receive all or part of a Death Benefit that is to be paid under this Contract on account of a death before the Annuity Payout Initiation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If a Death Benefit becomes payable on account of your death or the death of an Owner or a joint Owner, then any
Owner who survives the deceased Owner for at least 30 days is the Beneficiary no matter what other designation you may have made. If an Owner survives for at least 30 days but dies before submitting a Request in Good Order to claim the Death Benefit
or to become Successor Owner, then the Beneficiary is that surviving Owner's estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In all other cases, you may designate one or more Beneficiaries as provided in the Designation of Beneficiary
provision of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you do not designate a Beneficiary, or if no designated Beneficiary is surviving, then the Beneficiary is your
estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the sole Beneficiary under the Contract is your spouse and all other requirements for successor ownership are
met, then your spouse may become the successor owner of the Contract in lieu of receiving the Death Benefit.

A designation of Beneficiary must be made by a Request in Good Order. For Contracts with a Contract Effective Date before May 21, 2025, we must receive the request on or before the date of death for which a Death Benefit is payable. A designation of Beneficiary will be subject to any payments we make or actions we take before we receive the Request in Good Order

You may designate more than one Beneficiary. If you do, then you may state the share of the Death Benefit payable to each Beneficiary that you have named. You may also state whether each Beneficiary that you have named is primary or contingent.

If you do not state otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will treat a Beneficiary as primary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will pay the Death Benefit in equal shares to those primary Beneficiaries who survive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we will pay an amount to a contingent Beneficiary only if there is no primary Beneficiary who survives; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if there is no primary Beneficiary who survives, then we will pay the Death Benefit in equal shares to those
contingent Beneficiaries who survive.

**Survivorship Required** 

In order to be entitled to receive a Death Benefit, a Beneficiary must survive for at least 30 days after the death for which the Death Benefit is payable.

**Termination of Marriage** 

If you designate your spouse as a Beneficiary and your marriage ends before your death, we will treat your former spouse as having predeceased you unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a court order provides that the former spouse's rights as a beneficiary are to continue; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the former spouse remains or becomes an Owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Beneficiary or Contingent Payee designation was made on a date on which the marriage legally ended or was
annulled, or was ratified after that date.

**ANNUAL STATEMENT AND CONFIRMATIONS** 

At least once each Contract Year, we will send you a statement that will show: (1) your Account Value; (2) all transactions regarding your Contract during the year; and (3) any gain or loss for your Contract and/or any other changes in Strategy value credited to your Contract.

We will also send you written confirmations of Purchase Payments, Indexed Strategy allocations and renewals, withdrawals, and other financial transactions under your Contract. Statements and confirmations will be sent to your last known address on our records.

You may request additional status reports from us by a Request in Good Order. The charge for an additional status report shall not exceed $25. Current information about your Contract is also available at no cost on our website.

You should promptly report any inaccuracy or discrepancy in a statement or confirmation. To report an inaccuracy or discrepancy, contact us at P.O. Box 5423, Cincinnati, OH 45201-5423, or call us at 1-800-789-6771. To protect your rights, you should consider reconfirming any oral communications by sending a written statement to P.O. Box 5423, Cincinnati, OH 45201-5423.

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**ELECTRONIC DELIVERY** 

You may elect to receive electronic delivery of the Contract prospectus and other Contract related documents. Contact us at our website at <u>www.massmutualascend.com</u> for more information and to enroll.

**ABANDONED PROPERTY REQUIREMENTS** 

Every state has unclaimed property laws. These laws generally declare annuity contracts to be abandoned after a period of inactivity of three to five years from: (1) the latest permitted Annuity Payout Initiation Date; or (2) the date of death for which a Death Benefit is due and payable. For example, if the payment of a death benefit is due, but the beneficiary does not come forward to claim the death benefit in a timely manner, the unclaimed property laws will apply.

If a Death Benefit, Annuity Payout Benefit payments or other contract proceeds are unclaimed, we will pay them to the abandoned property division or unclaimed property office of the applicable state. (Escheatment is the formal, legal name for this process.) For example, on an unclaimed Death Benefit, depending on the circumstances, the proceeds are paid: (1) to the state where the beneficiary last resided, as shown on our books and records; (2) to the state where the contract owner last resided, as shown on our books and records; or (3) to Ohio, which is our state of domicile. The state will hold the proceeds without interest until a valid claim is made by the person entitled to the proceeds.

To prevent escheatment of the Death Benefit, Annuity Payout Benefit payments, or other proceeds from your Contract, it is important:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to update your contact information, such as your address, phone number, and email address, if and as it changes;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to update your Beneficiary and other designations, including complete names, complete addresses, phone numbers,
and social security numbers, if and as they change.

Please contact us at P.O. Box 5423, Cincinnati, OH 45201-5423, or call us at 1-800-789-6771, to make such updates.

State unclaimed property laws do not apply to annuity contracts that are held under an employer retirement plan that is subject to the Employee Retirement Income Security Act of 1974 (ERISA).

**OTHER CONTRACT PROVISIONS** 

**Amendment of the Contract** 

We reserve the right to amend the Contract to comply with applicable Federal or state laws or regulations. We will notify you in writing of any such amendments.

**Misstatement** 

We may require proof of the age of the Annuitant, Owner and/or the Beneficiary before making any payments under the Contract that are measured by such person's life. If the age of the measuring life has been misstated, the amount payable will be the amount that would have been provided at the correct age. If payments based on the correct age would have been higher, we will pay the unpaid amount with interest. If payments would be lower, we may deduct the overpaid amount with interest, from succeeding payments.

**Involuntary Termination** 

If the Account Value on any anniversary of the initial Strategy Application Date is less than the minimum required value of $5,000 due to poor market performance or withdrawals from the Contract, we may terminate your Contract on that anniversary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you make only one Purchase Payment, each Term will end on an anniversary of the initial Strategy Application
Date. In this case, any involuntary termination will occur on a date that is the end of a Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you make multiple Purchase Payments, Terms may end on different dates. In this case, any involuntary
termination will occur on a date that is the end of a Term, but it will occur before the end of other Terms. In this case, the Surrender Value payable upon termination of your Contract will reflect the Daily Value Percentages used to calculate the
value of Indexed Strategies with Terms that are not ending on the termination date.

The examples below show the relationship between the date of an involuntary termination and the end of a Term.

*Example A*. You make one Purchase Payment that is applied to the Indexed Strategies on June 20, 2025. Terms will start and end on June 20 and the anniversary of the initial Strategy Application Date will be June 20. If your Account Value is less than $5,000 on June 20, 2027, we may terminate your Contract on that anniversary date.

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*Example B*. You make two Purchase Payments. One Purchase Payment is applied to the Indexed Strategies on May 6, 2025 and the other Purchase Payment is applied to the Indexed Strategies on June 20, 2025. Terms will start and end on May 6 and on June 20. The anniversary of the initial Strategy Application Date will be May 6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your Account Value is less than $5,000 on June 20, 2027, we may not terminate your Contract because
June 20 is not an anniversary of the initial Strategy Application Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your Account Value is less than $5,000 on May 6, 2029, we may terminate your Contract on that anniversary
date even though the other Term will not end until June 20, 2029.

If we terminate your Contract, we will pay you the Surrender Value determined as of the date that we terminate your Contract. The Surrender Value will reflect the applicable Indexed Strategy values as calculated on the day that we terminate your Contract.

**FEDERAL TAX CONSIDERATIONS** 

This section provides a general description of federal income tax considerations relating to the Contracts. The purchase, holding and transfer of a Contract may have federal estate and gift tax consequences in addition to income tax consequences. Estate and gift taxation is not discussed in this prospectus. State taxation will vary, depending on the state in which you reside, and is not discussed in this prospectus.

The tax information provided in this prospectus is not intended or written to be used as legal or tax advice. It is written solely to provide general information related to the sale and holding of the Contracts. You should seek advice on legal or tax questions based on your particular circumstances from an attorney or tax advisor.

**Tax Deferral on Annuities** 

Internal Revenue Code ("IRC") Section 72 governs taxation of annuities in general. The income earned on a Contract is generally not included in income until it is withdrawn from the Contract. In other words, a Contract is a tax-deferred investment. **The advantages of tax deferral are lost if you Surrender or take withdrawals from the Contract, unless the Surrender or withdrawal is part of a rollover, transfer, or exchange.** Tax deferral is not available for a Contract when an Owner is not a natural person unless the Contract is part of a tax-qualified retirement plan or the Owner is a mere agent for a natural person. For a nonqualified deferred compensation plan, this rule means that the employer as Owner of the Contract will generally be taxed currently on any increase in the Surrender Value, although the plan itself may provide a tax deferral to the participating employee.

Under certain circumstances, based on a rule known as the "Investor Control Doctrine," the IRS has stated that the holder of an annuity contract could be treated as the owner (for tax purposes) of the assets of a separate account that supports the annuity contract. If you were treated as the owner of an interest in the separate account, then you would be taxed on the income, gain, and loss arising out of your interest in the separate account. Although the IRS has not provided definitive guidance on the application of this rule to indexed annuity contracts, we do not believe that this rule applies to the Contract because you have no specific, fractional, or unitized interest in the separate account assets, we are not obligated to invest the separate account in any particular assets, the investment return and market value of the separate account assets is not allocated in an identical manner to any Contract, the Contract values are determined based on gains and losses regardless of the performance of the separate account assets, and the derivatives that we may hold in the separate account are not publicly traded.

**Tax-Qualified Retirement Plans** 

Annuities may also qualify for tax-deferred treatment, or serve as a funding vehicle, under tax-qualified retirement plans that are governed by other IRC provisions. These provisions include IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuities), IRC Sections 408 and 408A (individual retirement annuities), and IRC Section 457(b) (governmental deferred compensation plans). Tax-deferral is generally also available under these tax-qualified retirement plans through the use of a trust or custodial account without the use of an annuity.

The tax law rules governing tax-qualified retirement plans and the treatment of amounts held and distributed under such plans are complex. If the Contract is to be used in connection with a tax-qualified retirement plan, including an individual retirement annuity ("IRA") under a Simplified Employee Pension (SEP) Plan, you should seek competent legal and tax advice regarding the suitability of the Contract for your particular situation.

Contributions to a tax-qualified Contract are typically made with pre-tax dollars, while contributions to other Contracts are typically made from after-tax dollars, though there are exceptions in either case. Tax-qualified Contracts may also be subject to restrictions on withdrawals that do not apply to other Contracts. These restrictions may be imposed to meet the requirements of the IRC or of an employer plan.

Following is a brief description of the types of tax-qualified retirement plans for which the Contracts are available.

**Individual Retirement Annuities.** IRC Sections 219 and 408 permit certain individuals or their employers to contribute to an individual retirement arrangement known as an "Individual Retirement Annuity" or "IRA". Under applicable limitations, an individual may claim a tax deduction for certain contributions to an IRA. Contributions made to an IRA for an employee under a Simplified Employee Pension (SEP) Plan or Savings Incentive Match Plan for Employees (SIMPLE) established by an employer are not includable in the gross income of the employee until distributed from the IRA. Distributions from an IRA are taxable to the extent that they represent contributions for which a tax deduction was claimed, contributions made under a SEP plan or SIMPLE, or income earned within the IRA.

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**Roth IRAs.** IRC Section 408A permits certain individuals to contribute to a Roth IRA. Contributions to a Roth IRA are not tax deductible. Tax-free distributions of contributions may be made at any time. Distributions of earnings are tax-free following the five-year period beginning with the first year for which a Roth IRA contribution was made if the Owner has attained age 59<sup>1</sup>⁄<sub>2</sub>, become disabled, or died, or for qualified first-time homebuyer expenses.

**Tax-Sheltered Annuities.** IRC Section 403(b) of permits public schools and charitable, religious, educational, and scientific organizations described in IRC Section 501(c)(3) to establish "tax-sheltered annuity" or "TSA" plans for their employees. TSA contributions and Contract earnings are generally not included in the gross income of the employee until distributed from the TSA. Amounts attributable to contributions made under a salary reduction agreement cannot be distributed until the employee attains age 59<sup>1</sup>⁄<sub>2</sub>, severs employment, becomes disabled, incurs a hardship, is eligible for a qualified reservist distribution, or dies. The IRC and the plan may impose additional restrictions on distributions.

**Pension, Profit-Sharing, and 401(k) Plans.** IRC Section 401 permits employers to establish various types of retirement plans for employees, and permits self-employed individuals to establish such plans for themselves and their employees. These plans may use annuity contracts to fund plan benefits. Generally, contributions are deductible to the employer in the year made, and contributions and earnings are generally not included in the gross income of the employee until distributed from the plan. The IRC and the plan may impose restrictions on distributions. Purchasers of a Contract for use with such plans should seek competent advice regarding the suitability of the Contract under the particular plan.

**Governmental Eligible Deferred Compensation Plans.** State and local government employers may purchase annuity contracts to fund eligible deferred compensation plans for their employees, as described in IRC Section 457(b). Contributions and earnings are generally not included in the gross income of the employee until the employee receives distributions from the plan. Amounts cannot be distributed until the employee attains age 70 1/2, severs employment, becomes disabled, incurs an unforeseeable emergency, or dies. The plan may impose additional restrictions on distributions.

**Roth TSAs, Roth 401(k)s, and Roth 457(b)s.** IRC Section 402A permits TSA plans, 401(k) plans, and governmental 457(b) plans to allow participating employees to designate some part or all of their future elective contributions as Roth contributions. Roth contributions to a TSA plan, 401(k) plan, or governmental 457(b) plan are included in the employee's taxable income as earned. Amounts attributable to Roth TSA, Roth 401(k), or Roth 457(b) contributions must be held in a separate account from amounts attributable to traditional pre-tax TSA, 401(k), or 457(b) contributions. Distributions from a Roth TSA, Roth 401(k), or Roth 457(b) account are considered to come proportionally from contributions and earnings. Distributions attributable to Roth account contributions are tax-free. Distributions attributable to Roth account earnings are tax-free following the five-year period beginning with the first year for which Roth contributions are made to the plan if the employee has attained age 59<sup>1</sup>⁄<sub>2</sub>, become disabled, or died. A Roth TSA, Roth 401(k), or Roth 457(b) account is subject to the same distribution restrictions that apply to amounts attributable to traditional pre-tax TSA, 401(k), or 457(b) contributions made under a salary reduction agreement. The plan may impose additional restrictions on distributions.

**Nonqualified Deferred Compensation Plans** 

Employers may invest in annuity contracts in connection with unfunded deferred compensation plans for their employees. Such plans may include eligible deferred compensation plans of non-governmental tax-exempt employers, as described in IRC Section 457(b); deferred compensation plans of both governmental and nongovernmental tax-exempt employers that are taxed under IRC Section 457(f) and subject to Section 409A; and nonqualified deferred compensation plans of for-profit employers subject to Section 409A. In most cases, these plans are designed so that amounts credited under the plan will not be includable in the employees' gross income until paid under the plan. In these situations, the annuity contracts are not plan assets and are subject to the claims of the employer's general creditors. Whether or not made from the Contract, plan benefit payments are subject to restrictions imposed by the IRC and the plan.

**Summary of Income Tax Rules** 

The following chart summarizes the basic income tax rules governing tax-qualified retirement plans, nonqualified deferred compensation plans, and other non-tax-qualified Contracts.

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| | | | |
|:---|:---|:---|:---|
|  | **Tax-Qualified Contracts and**<br> **Plans** | **Nonqualified Deferred<br>Compensation Plans** | **Other Non-Tax-Qualified**<br> **Contracts** |
| Plan Types | • IRC §408 (IRA, SEP, SIMPLE IRA)<br>• IRC §408A (Roth IRA)<br>• IRC §403(b) (Tax-Sheltered Annuity)<br>• IRC §401 (Pension, Profit–Sharing, 401(k))<br>• Governmental IRC §457(b)<br>• IRC §402A (Roth TSA, Roth 401(k), or Roth 457(b)) | • IRC §409A<br>• Nongovernmental IRC §457(b)<br>• IRC §457(f) | • IRC §72 only |
| Who May Purchase a Contract | Eligible employee, employer, or employer plan. | Employer on behalf of eligible employee. Employer generally loses tax-deferred status of Contract itself. | Anyone. Non-natural person will generally lose tax-deferred status. |
| Contribution Limits | Contributions are limited by IRC and/or plan requirements. | Contributions are limited by IRC and/or plan requirements. | None. |
| Distribution Restrictions | Distributions from Contract and/or plan may be restricted to meet IRC and/or plan requirements. | Distributions from Contract and/or plan may be restricted to meet IRC and/or plan requirements. | None. |
| Taxation of Withdrawals, Surrenders, and Lump Sum Death Benefit | Generally, 100% of distributions must be included in taxable income. However, the portion that represents an after-tax investment is not taxable. Distributions from Roth IRA are deemed to come first from after- tax contributions. Distributions from other plans are generally deemed to come from income and after-tax investment (if any) on a pro-rata basis. Distributions from §408A Roth IRA or §402A Roth TSA, Roth 401(k), or Roth 457(b) are completely tax free if certain requirements are met.<br>For tax purposes, all IRAs and SEP IRAs of an owner are treated as a single IRA, and all Roth IRAs of an owner are treated as a single Roth IRA. | Generally, 100% of distributions must be included in taxable income. However, the portion that represents an after-tax investment is not taxable. Distributions from Roth IRA are deemed to come first from after- tax contributions. Distributions from other plans are generally deemed to come from income and after-tax investment (if any) on a pro-rata basis. Distributions from §408A Roth IRA or §402A Roth TSA, Roth 401(k), or Roth 457(b) are completely tax free if certain requirements are met.<br>For tax purposes, all IRAs and SEP IRAs of an owner are treated as a single IRA, and all Roth IRAs of an owner are treated as a single Roth IRA. | Generally, distributions must be included in taxable income until all accumulated earnings are paid out. Thereafter, distributions are tax-free return of the original investment. However, distributions are tax-free until any investment made before August 14, 1982 is returned.<br>For tax purposes, all non-tax-qualified annuity contracts issued to the same owner by the same insurer in the same calendar year are treated as one contract. |
| Taxation of Payout Option Payments (Annuity Benefit or Death Benefit) | A percentage of each payment is tax free equal to the ratio of after-tax investment (if any) to the total expected payments, and the balance is included in taxable income. Once the after-tax investment has been recovered, the full amount of each benefit payment is included in taxable income. Distributions from a Roth IRA, Roth TSA, Roth 401(k), or Roth 457(b) are completely tax free if certain requirements are met. | A percentage of each payment is tax free equal to the ratio of after-tax investment (if any) to the total expected payments, and the balance is included in taxable income. Once the after-tax investment has been recovered, the full amount of each benefit payment is included in taxable income. Distributions from a Roth IRA, Roth TSA, Roth 401(k), or Roth 457(b) are completely tax free if certain requirements are met. | A percentage of each payment is tax free equal to the ratio of after-tax investment (if any) to the total expected payments, and the balance is included in taxable income. Once the after-tax investment has been recovered, the full amount of each benefit payment is included in taxable income. Distributions from a Roth IRA, Roth TSA, Roth 401(k), or Roth 457(b) are completely tax free if certain requirements are met. |
| Possible Penalty Taxes for Distributions Before Age 59<sup>1</sup>⁄<sub>2</sub> | Taxable portion of payments made before age 59<sup>1</sup>⁄<sub>2</sub> may be subject to 10% penalty tax (or 25% for a SIMPLE IRA during the first two years of participation). Penalty taxes do not apply to payments after the participant's death, or to §457 plans. Other exceptions may apply. | None. | Taxable portion of payments made before age 59<sup>1</sup>⁄<sub>2</sub> may be subject to a 10% penalty tax. Penalty taxes do not apply to payments after the Owner's death. Other exceptions may apply. |

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| | | | |
|:---|:---|:---|:---|
|  | **Tax-Qualified Contracts and**<br> **Plans** | **Nonqualified Deferred<br>Compensation Plans** | **Other Non-Tax-Qualified**<br> **Contracts** |
| Assignment/ Transfer of Contract | Assignment and transfer of Ownership generally not permitted. | Assignment and transfer of Ownership generally not permitted. | Generally, deferred earnings taxable to transferor upon transfer or assignment. Gift tax consequences are not discussed herein. |
| Federal Income Tax Withholding | Eligible rollover distributions from §401, §403(b), and governmental §457(b) plans are subject to 20% mandatory withholding on taxable portion unless direct rollover. For other payments, Payee may generally elect to have taxes withheld or not. | Generally subject to wage withholding. | Generally, Payee may elect to have taxes withheld or not. |

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**Rollovers, Transfers, and Exchanges** 

Amounts from a tax-qualified Contract may be rolled over, transferred, or exchanged into another tax-qualified account or retirement plan as permitted by the IRC and plan(s). Amounts may be rolled over, transferred, or exchanged into a tax-qualified Contract from another tax-qualified account or retirement plan as permitted by the IRC and plan(s). In most cases, such a rollover, transfer, or exchange is not taxable, unless the rollover of pre-tax amounts is made into a Roth IRA, a Roth TSA, Roth 401(k), or Roth 457(b). Rollovers, transfers, and exchanges are not subject to normal contribution limits. The IRC or plan may require that rollovers be held in a separate Contract from other plan funds.

Amounts from a non-tax-qualified Contract may be transferred to another non-tax-qualified annuity or to a qualified long-term care policy as a tax-free exchange as permitted by the IRC Section 1035. Amounts from another non-tax-qualified annuity or from a life insurance or endowment policy may be transferred to a Contract as a tax-free exchange under IRC Section 1035.

**Required Distributions** 

The Contracts are subject to the required distribution rules of federal tax law. These rules vary based on the tax qualification of the Contract or the plan under which it is issued.

For a tax-qualified Contract other than a Roth IRA, required minimum distributions must generally begin by April 1 following the year the participant attains the applicable RMD age. The applicable RMD age is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• age 75 if born after December 31, 1959;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• age 73 if born after December 31, 1950, but before January 1, 1960;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• age 72 if born after June 30, 1949, but before January 1, 1951; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• age 70 1/2 if born before July 1, 1949.

However, for a 403(b) Tax-Sheltered Annuity Plan, a 401 Pension, Profit-Sharing, or 401(k) Plan, or a 457(b) Governmental Deferred Compensation Plan, a participant who is not a 5% owner of the employer may delay required minimum distributions until April 1 following the year in which the participant retires from that employer.

The required minimum distributions during life are calculated based on standard life expectancy tables adopted under federal tax law.

For a Roth IRA or for a Contract that is not tax-qualified, there are no required distributions during life.

A tax-qualified Contract must make required distributions after death. The required distributions vary depending on the type of beneficiary and whether minimum distributions were required during the life of the decedent. Some beneficiaries may take payments over life or life expectancy, and others must receive all benefits within five or ten years after death, and some must take payments over life or life expectancy with a final payment within ten years after the decedent's death. A non-tax-qualified Contract that has begun making payments under a payout option during the Owner's life must make any remaining payments at least as rapidly after death. If payments from a non-tax-qualified Contract have not begun, then the Death Benefit must be paid out in full within five years after death, or must be paid out in substantially equal payments beginning within one year of death over a period not exceeding the life expectancy of the designated beneficiary.

For a traditional IRA, a Roth IRA, or a Contract that is not tax-qualified, a beneficiary who is a surviving spouse may elect out of these requirements, and apply the required distribution rules as if the Contract were his or her own. For this purpose, federal tax law recognizes as married any two people whose marriage is valid in the state in which it was celebrated. A civil union or domestic partnership is not considered a marriage.

**The Contract is intended for long-term investment purposes and the Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years or who plan to take withdrawals from Indexed Strategies before the end of a Term.** 

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**DISTRIBUTION OF THE CONTRACTS** 

MM Ascend Life Investor Services, LLC ("MMALIS") is the principal underwriter and distributor of the securities offered through this prospectus. MassMutual Ascend Life and MMALIS are affiliated because MMALIS is a subsidiary of MassMutual Ascend Life. MMALIS also acts as the principal underwriter and distributor of the variable annuity contracts that are issued by one of our subsidiaries.

MMALIS's principal executive offices are located at 191 Rosa Parks Street, Cincinnati, Ohio 45202. MMALIS is registered as a broker- dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as well as the securities regulators in the states in which it operates and registration is required. MMALIS is a member of the Financial Industry Regulatory Authority ("FINRA").

Contracts are sold by licensed insurance agents (the "Selling Agents") in those states where the Contract may be lawfully sold. Such Selling Agents will be appointed agents of MassMutual Ascend Life and will be registered representatives of broker-dealer firms (the "Selling Broker-Dealers") that have entered into selling agreements with us and MMALIS. Selling Broker-Dealers will be registered under the Securities Exchange Act of 1934 and will be members of FINRA.

FINRA provides background information about broker-dealers and their registered representatives through FINRA BrokerCheck. You may contact the FINRA BrokerCheck Hotline at 1-800-289-9999, or log on <u>http://www.finra.org</u> to learn more about MMALIS, your Selling Agent, and his or her Selling Broker Dealer.

MMALIS receives no compensation for acting as underwriter of the Contracts; however, MassMutual Ascend Life pays for some of MMALIS's operating and other expenses, including overhead and legal and accounting fees. MassMutual Ascend Life may reimburse MMALIS for certain sales expenses, such as marketing materials and advertising expenses, and other expenses of distributing the Contracts.

MassMutual Ascend Life or MMALIS pay the Selling Broker-Dealers compensation for the promotion and sale of the Contract. The Selling Agents who solicit sales of the Contract typically receive a portion of the compensation paid to the Selling Broker-Dealers in the form of commissions or other compensation, depending on the agreement between the Selling Broker-Dealer and the Selling Agent.

The amount and timing of commissions paid to Selling Broker-Dealers may vary depending on the selling agreement but it will not be more than 9.2% of each Purchase Payment. In most cases, such amounts paid to a Selling Broker-Dealer will be divided between the Selling Agent and the Selling Broker-Dealer. Some Selling Broker-Dealers may elect to receive a lower commission when a Purchase Payment is made, along with annual trail commissions up to 1.5% of Account Value for so long as a contract remains in effect or as agreed in the selling agreement. MassMutual Ascend Life may pay or allow other promotional incentives or payments in the form of cash or other compensation to the extent permitted by FINRA rules and other applicable laws and regulations.

MassMutual Ascend Life also may pay compensation to wholesaling broker-dealers or other firms or intermediaries in return for wholesaling services such as providing marketing and sales support, product training, and administrative services to the Selling Agents of the Selling Broker-Dealers. These allowances may be based on a percentage of a Purchase Payment.

In addition to the compensation described above, MassMutual Ascend Life may make additional cash payments, in certain circumstances referred to as "override" compensations, or reimbursements to Selling Broker-Dealers in recognition of their marketing and distribution, transaction processing and/or administrative services support. These payments are not offered to all Selling Broker-Dealers, and the terms of any particular agreement governing the payments may vary among Selling Broker-Dealers depending on, among other things, the level and type of marketing and distribution support provided. Marketing and distribution support services may include, among other services, placement of MMALIC's products on the Selling Broker-Dealers' preferred or recommended list, increased access to the Selling Broker-Dealers' registered representatives for purposes of promoting sales of MassMutual Ascend Life products, assistance in training and education of the Selling Agents, and opportunities for MMALIC and MMALIS to participate in sales conferences and educational seminars. The payments or reimbursements may be calculated as a percentage of the particular Selling Broker-Dealer's actual or expected aggregate sales of our indexed annuity contracts (including the Contract) and/or may be a fixed dollar amount. Broker-dealers receiving these additional payments may pass on some or all of the payments to the Selling Agents.

You should ask your Selling Agent for further information about the commissions or other compensation that he or she, or the Selling Broker-Dealer for which he or she works, may receive in connection with your purchase of a Contract.

There is no front-end sales load deducted from the Purchase Payment(s) to pay sales commissions. Commissions and other incentives or payments described above are not charged directly to you. We intend to recoup at least a portion of the sales commissions and other sales expenses through fees and charges deducted under the Contract.

**MASSMUTUAL ASCEND LIFE** 

MassMutual Ascend Life is a stock insurance company incorporated in 1961 and continuously engaged in the insurance business since that time. We are domiciled in the state of Ohio and licensed to conduct life insurance business in all states of the United States except New York, and in the District of Columbia and Puerto Rico. Our principal executive offices are located at 191 Rosa Parks Street, Cincinnati, Ohio 45202.

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We are a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual"), a mutual life insurance company. MassMutual and its domestic life insurance subsidiaries provide individual and group life insurance, disability insurance, individual and group annuities and guaranteed interest contracts to individual and institutional customers in all 50 states of the U.S., the District of Columbia and Puerto Rico.

Prior to October 3, 2022, MassMutual Ascend Life's name was Great American Life Insurance Company ("GALIC") and MMALIS' name was Great American Advisors, LLC ("GAA"). On May 28, 2021, American Financial Group, Inc. sold its annuity business consisting of GALIC and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company, as well as a broker-dealer affiliate, GAA, and insurance distributor, AAG Insurance Agency, Inc. to MassMutual.

Except to a small part of a Contract's Account Value funded through the Separate Account described below, the Contract guarantees and benefits are paid from our general account (the "General Account"), and such guarantees and benefits are subject to our claims-paying ability and financial strength and may lose value.

**The General Account** 

The General Account holds all our assets other than assets in our insulated separate accounts. We own our General Account assets, and, subject to applicable law, have sole investment discretion over them.

We must invest our assets according to applicable state laws regarding the nature, quality and diversification of investments that may be made by life insurance companies. In general, these laws permit investments, within specified limits and subject to certain qualifications, in Federal, state, and municipal obligations, corporate bonds, preferred and common stocks, real estate mortgages, real estate and certain other investments.

We place a majority of the Purchase Payments made under the Contract in our General Account where we primarily invest the assets in a variety of fixed income securities.

**The Separate Account** 

We place a portion of the Purchase Payments made under the Contract in a non-unitized separate account (the "Separate Account") that is not registered with the Securities and Exchange Commission. We established and maintain the Separate Account pursuant to the laws of our domiciliary state for the purpose of supporting our obligation to adjust the Indexed Strategy values based on the Daily Value Percentage or rise or fall of the Index. The assets of the Separate Account are held in our name on behalf of the Separate Account and legally belong to us. The assets in the Separate Account are not chargeable with liabilities arising out of any other business that we conduct. We may invest these assets in hedging instruments, including derivative contracts as well as other assets permitted under state law. To support our obligations to adjust the Indexed Strategy values, we may move money between the Separate Account and our General Account. We are not obligated to invest the assets of the Separate Account according to any particular plan except as we may be required to by state insurance laws. Regardless of your Strategy allocations, we do not intend to invest the assets of the Separate Account in the iShares MSCI EAFE exchange traded fund the iShares U.S. Real Estate exchange traded fund, or the SPDR Gold Shares exchange traded fund. We may or may not hold the hypothetical options described in this prospectus in the Separate Account.

Contract owners do not have any interest in or claim on the assets in the Separate Account nor do Contract owners participate in any way in the performance of assets held in the Separate Account.

**LEGAL MATTERS** 

**Reliance on Rule 12h-7** 

MassMutual Ascend Life relies on the exemption provided by Rule 12h-7 under the Securities Exchange Act of the 1934 Act from the requirement to file reports pursuant to Section 15(d) of that Act.

**Legal Proceedings** 

MassMutual Ascend Life and its subsidiaries are involved in litigation from time to time, generally arising in the ordinary course of business. This litigation may include, but is not limited to, general commercial disputes, lawsuits brought by contract owners and policyholders, employment matters, reinsurance collection matters and actions challenging certain business practices of insurance subsidiaries. Also, from time to time, state and federal regulators or other officials conduct formal and informal examinations or undertake other actions dealing with various aspects of the financial services and insurance industries. It is not possible to predict with certainty the ultimate outcome of any pending legal proceeding or regulatory action. However, MassMutual Ascend Life does not believe any such action or proceeding will have a material adverse effect upon its ability to meet its obligations under the Contracts.

**Legal Opinion on Contracts** 

Legal matters in connection with federal laws and regulations affecting the issue and sale of the Contracts described in this prospectus and the organization of MassMutual Ascend Life, its authority to issue such Contracts under Ohio law, and the validity of the forms of the Contracts under Ohio law have been passed on by John P. Gruber, General Counsel of MassMutual Ascend Life.

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**Securities and Exchange Commission Position on Indemnification** 

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling MassMutual Ascend Life pursuant to its articles of incorporation or its code of regulations or pursuant to any insurance coverage or otherwise, MassMutual Ascend Life has been informed that, in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act of 1933 and is therefore unenforceable.

**FINANCIAL STATEMENTS** 

The consolidated financial statements of MassMutual Ascend Life Insurance Company are included in the Statement of Additional Information. They should be considered only as they relate to our ability to meet our obligations under the Contract. Instructions on how to obtain the Statement of Additional Information are included on the back cover page.

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**APPENDIX A: INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT** 

The following is a list of Indexed Strategies currently available under the Contract. We may change the features of the Indexed Strategies listed below (including the Index and the current limits on Index gains and losses), offer new Indexed Strategies, and terminate existing Indexed Strategies. We will provide you with written notice before making any changes other than changes to current limits on Index gains. Information about current limits on Index gains is available at <u>www.massmutualascend.com/index-summit-6-pro</u>. For additional information about the features of the Indexed Strategies, please see the "Indexed Strategies" section in the prospectus.

**Note: If amounts are removed from an Indexed Strategy before the end of its Term, we will apply a Daily Value Percentage adjustment. This may result in a significant reduction in your Strategy value that could exceed any protection from Index loss that would be in place if you held the Indexed Strategy until the end of the Term. You may not be able to invest in certain Indexed Strategies, as noted below.** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** | **Current Limit on Index Loss<br>(if held until end of Term)** | **Minimum Limit on Index<br>Gain (for the life of the<br>Indexed Strategy)** | **Performance<br>Lock <sup>4</sup>** |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 0% Floor | 1% Cap | N/A |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | -10% Floor | 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 10% Buffer | 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 10% Buffer | 1% Trigger Rate | N/A |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 10% Buffer | 1% Dual Performance Trigger Rate | N/A |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 20% Buffer | 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 20% Buffer | 1% Trigger Rate | N/A |
| S&P 500<sup>®</sup> | Market Index | 1 Year | 50% Downside Participation Rate | 1% Cap | Available |
| S&P 500<sup>®</sup> | Market Index | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup> | Market Index | 2 Years | 50% Downside Participation Rate | 1% Cap | Available |
| S&P 500<sup>®</sup> | Market Index | 2 Years | 50% Downside Participation Rate | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| iShares MSCI EAFE ETF<sup>1</sup> | ETF | 1 Year | 10% Buffer | 1% Cap | N/A |
| iShares MSCI EAFE ETF | ETF | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | N/A |
| iShares U.S. Real Estate ETF<sup>1</sup> | ETF | 1 Year | -10% Floor | 1% Cap | N/A |
| iShares U.S. Real Estate ETF | ETF | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | N/A |
| SPDR Gold Shares ETF<sup>1</sup> | ETF | 1 Year | -10% Floor | 1% Cap | N/A |
| First Trust Barclays Edge<sup>1</sup> | Market Index | 1 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| First Trust Barclays Edge<sup>1</sup> | Market Index | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>3</sup> | Market Index | 1 Year | 10% Buffer | 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>3</sup> | Market Index | 1 Year | 20% Buffer | 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |

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<sup>1</sup> These Strategies are not available for Contracts issued in **Missouri** with a Contract Effective Date before May 21, 2025. 

<sup>2</sup> These Strategies are not available for Contracts with a Contract Effective Date before December 6, 2025. They are not available for Contracts issued in **California** until after regulatory approval is received. 

<sup>3</sup> These Strategies are not available for Contracts with a Contract Effective Date before May 21, 2025.

<sup>4</sup> Performance Lock is not available for Contracts issued in **Missouri** with a Contract Effective Date before May 21, 2025. 

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The following eight additional Indexed Strategies are available for Contracts with a Contract Effective Date before January 21, 2026. These Indexed Strategies will continue to be available for Contracts issued in **California** before a date to be specified by a supplement to this prospectus after regulatory approval of the Combination Strategies is received.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** | **Current Limit on Index Loss**<br> **(if held until end of Term)** | **Minimum Limit on Index Gain<br>(for the life of the Indexed<br>Strategy)** | **Performance<br>Lock** |
| S&P 500<sup>®</sup><sup>1</sup> | Market Index | 3 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup><sup>1</sup> | Market Index | 3 Year | 20% Buffer | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup> | Market Index | 6 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup><sup>1</sup> | Market Index | 6 Year | 20% Buffer | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Year | 20% Buffer | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>1</sup> | Market Index | 6 Year | 10% Buffer | 5% Upside Participation Rate | Available <sup>3</sup> |
| Russell 2000<sup>®</sup> <sup>1</sup> | Market Index | 6 Year | 20% Buffer | 5% Upside Participation Rate | Available <sup>3</sup> |

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<sup>1</sup> These Strategies are not available for Contracts issued in **Missouri** with a Contract Effective Date before May 21, 2025. 

<sup>2</sup> These Strategies are not available for Contracts with a Contract Effective Date before May 21, 2025.

<sup>3</sup> Performance Lock for the Russell 2000 6-Year Indexed Strategies is not available for Contracts with a Contract Effective Date before May 21, 2025.

The **S&P 500** is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index.

The **iShares MSCI EAFE ETF** deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in the securities composing the ETF.

The **iShares US Real Estate ETF** deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in the securities composing the ETF.

The **SPDR Gold Shares ETF** deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in gold bullion.

The **First Trust Barclays Edge** is an "excess return index" that subtracts a risk-free interest rate from the price and dividend return of the securities. It also deducts fees and costs when calculating Index performance. This will reduce the Index's return and cause the Index to underperform a direct investment in the securities composing the Index.

The **Russell 2000** is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index.

**Possible Changes in Indexed Strategies.** 

**The S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy will always be available. At the end of a Term, we may stop offering any other Indexed Strategy. Consequently, any other Indexed Strategy listed above may not be available after the end of the initial Term. We have the right to replace the Index associated with an Indexed Strategy under certain circumstances.** 

**In the future, we may offer new Indexed Strategies. Any new Buffer Strategy will offer protection against loss at least equal to a 5% Buffer. Any new Floor Strategy will offer protection against loss at least equal to a -20% Floor. Any new Downside Participation Rate Strategy will offer protection against loss at least equal to a 75% Downside Participation Rate.** 

**Positive return factors can change from one Term to the next, subject to the following minimum rates: A Cap will never be lower than 1%, an Upside Participation Rate will never be lower than 5%, and a Trigger Rate will never be lower than 1%. Indexed Strategies that may be available in the future may earn a return that is lower than the return your investments would have earned if they had been invested in the other Indexed Strategies that are currently available. In addition, any reduction in the available number of Indexed Strategies may reduce your opportunity to increase your Contract value.** 

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**APPENDIX B: EXAMPLES OF IMPACT OF WITHDRAWALS ON CONTRACT VALUES AND AMOUNTS REALIZED** 

These examples are intended to illustrate how a withdrawal from an Indexed Strategy before the end of the Term affects Indexed Strategy values and amounts realized at the end of the Term.

**Example A: Withdrawal When Index Rising Steadily – Cap, Upside Participation Rate, and Combination Strategies** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract was issued on or after December 7, 2025, so a Daily Charge rate of 0.95% applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you allocate $50,000 to the S&P 500 1-Year 50% Downside Participation
Rate with Cap Strategy, $50,000 to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy, and $50,000 to the S&P 500 6-Year 10% Buffer with Upside Participation Rate Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Cap for the initial Term of the S&P 500 1-Year 50% Downside
Participation Rate with Cap Strategy is 14%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Upside Participation Rate for the initial Term of the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy is 75%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Upside Participation Rate for the Term of the S&P 500 6-Year 10%
Buffer with Upside Participation Rate & Cap Strategy is 110% and the Cap is 90%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1000 on the Term start date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 grows steadily at an 11% annual rate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you request a $10,000 withdrawal on Day 146 when the Daily Value Percentage is 3.69% for the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy, 3.05% for the S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Strategy, and 2.92%
for the S&P 500 6-year Term 10% Buffer with Upside Participation Rate & Cap Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you do not take any other withdrawals during the initial Term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the withdrawal is covered by the Free Withdrawal Allowance and therefore no Early Withdrawal Charges apply (If
Early Withdrawal Charges did apply, the amounts realized at the end of the Term would be reduced by both the withdrawal and the amount of the Early Withdrawal Charge);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1110 on the 1-year Term end date and 1870 at the 6-Year Term end date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you have not made a Performance Lock election.

Please note that even with a rising Index, the Daily Value Percentage may be negative or lower than the Index rise because the Net Option Price is not equal to the current Index price, and because the Daily Value Percentage calculation subtracts the Residual Option Cost and Trading Cost from the Net Option Price.

---

| | | | |
|:---|:---|:---|:---|
| **Impact of $10,000 Withdrawal on Day 146 of Term** | **S&P 500 1-Year 50%<br>Downside Participation<br>Rate with Cap Strategy** | **S&P 500 1-Year 50%<br>Downside Participation<br>Rate with Upside<br>Participation<br>Rate Strategy** | **S&P 500 6-Year 10% Buffer with<br>Upside Participation Rate & Cap<br>Strategy** |
|  Investment Base at Term Start | $50000 | $50000 | $50000 |
|  Daily Charges through Withdrawal Date | $191 | $191 | $191 |
|  Remaining Investment Base | $49809 | $49809 | $49809 |
|  Daily Value Percentage on Withdrawal Date | 3.19% | 3.05% | 3.16% |
|  Dollar Amount of Increase on Withdrawal Date | 49,809 x .0319<br>1,589 | 49,809 x<br>1,519 | $49,809 x .0292 = $1,454 |
|  Strategy Value before Withdrawal | 49,809 +<br>1,589 = $51,398 | 49,809 + $1,519<br>51,328 | $49,809 + $1,454 = $51,263 |
|  Amount Withdrawn\* | $5003 | $4997 | $0 |
|  Withdrawal as Percentage of Strategy Value | 5,003 /<br>51,398 = 9.73% | $4,997 / $51,328 =<br>9.73% | $0 / $51,263 = 0% |
|  Proportional Reduction in Investment Base | 49,809 x .0973<br>4,846 | 49,809 x .0973<br>4,846 | $49,809 x .0000 = $0 |
|  Investment Base after Withdrawal | 49,809 -<br>4,846 = $44,963 | 49,809 -<br>4,846 = $44,963 | $49,809 - $0 = $49,809 |
|  **Value at End of Term** |  |  |  |
|  Investment Base after Withdrawal | $44963 | $44963 | $49809 |
|  Daily Charges from Withdrawal Date to Term End | $257 | $257 | $2593 |
|  Remaining Investment Base | $44706 | $44706 | $47216 |
|  Index at Term Start | 1000 | 1000 | 1000 |
|  Index at Term End | 1110 | 1110 | 1870 |
|  Rise in Index | 11.00% | 11.00% | 87.00% |
|  Upside Participation Rate | n/a | 75% | 110% |
|  Cap | 14.00% | n/a | 90.00% |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  Increase as a Percentage | Min (11%, 14%) = 11% | 11% x 75% = 8.25% | Min (87% x 1.1, 90%) = 90% |
|  Dollar Amount of Increase | $44,706 x .1100 = $4,918 | $44,706 x .0825 = $3,688 | $47,216 x .9000 = $42,494 |
|  Strategy Value at Term End | $44,706 + $4,918 = $49,624 | $44,706 + $3,688 = $48,394 | $47,216+ $42,494 = $89,710 |

---

\* Note: The withdrawal is taken proportionally from Indexed Strategies having the shortest Term, based on the ratio of that Strategy's value to the total value of all Indexed Strategies having the same Term length immediately before the withdrawal. This means the withdrawal will be taken proportionally from Indexed Strategies with 1-year Terms, and then proportionally from Indexed Strategies with 2-year Terms, and then proportionally from Indexed Strategies with 3-year Terms, and finally from Indexed Strategies having 6-year Terms. In this example, the total value of all Indexed Strategies with 1-year Terms immediately before the withdrawal was $102,726 ($51,398 + $51,328). The S&P 500 1-year 50% Downside Participation Rate with Cap Strategy value was 50.03% of that total value ($51,398 / $102,726 = 50.03%), so 50.03% of the $10,000 withdrawal ($5003) was taken from it. The S&P 500 with 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy value was 49.97% of that total value ($51,328 / $102,726 = 49.97%), so 49.97% of the $10,000 withdrawal ($4997) was taken from it. Any withdrawal would only be taken from the S&P 500 6-Year 10% Buffer with Upside Participation Rate Strategy when no amounts remain in Indexed Strategies with a 1-year Term or a 2-year Term.

In this example, you invested $50,000 in the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy, $50,000 in the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy, and $50,000 in the S&P 500 6-Year 10% Buffer with Upside Participation Rate Strategy. At the end of the 1-year Term you realized $108,018 from the 1-year Strategies ($10,000 withdrawal plus the Strategy values of $49,624 and $48,394 at the end of the 1-year Term). Had no withdrawal occurred, your 1-year Strategy values at the end of the Term would have totaled $108,584 ($50,000 minus $475 in Daily Charges, plus an 11% increase for the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy, and $50,000 minus $475 in Daily Charges, plus an 8.25% increase for the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy.)

The hypothetical Strategy value for the 1-year Strategies ($108,584) exceeds the amount realized ($108,018) because the portion of the Investment Base withdrawn from each Strategy did not earn the index increase (11% and 8.25% respectively) it would have earned if it had been left in the respective Strategy for the entire Term.

At the end of the 6-year Term you realized $89,710 from the 6-year Strategy, which is the same amount you would have realized had no withdrawal occurred, because no amounts were withdrawn from the 6-year Strategy.

In this example, the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy performed better than the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy because the Upside Participation Rate limited the increase while the Cap did not. Because the Index continued to grow at the same annual rate over the 6-year Term of the S&P 500 6-Year 10% Buffer with Upside Participation Rate & Cap Strategy, along with the fact that the Cap was much higher due to the 6-year investment period and, additionally, none of the withdrawal was taken from the 6-year Strategy, the Strategy had a higher Strategy value at the end of a 6-year Term than the other Strategies had at the end of a 1-year Term.

**Example B: Withdrawal When Index Rising Steadily – Trigger Strategies** 

This example assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract was issued on or after June 7, 2024, so a Daily Charge rate of 0.95% applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you allocate $50,000 to the S&P 500 1-Year 10% Buffer with
Performance Trigger Strategy, and $50,000 to the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Trigger Rate for the initial Term of the S&P 500 1-Year 10%
Buffer with Performance Trigger Strategy is 11%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Trigger Rate for the initial Term of the S&P 500 1-Year 10%
Buffer with Dual Performance Trigger Strategy is 8%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1000 on the Term start date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you request a $10,000 withdrawal on Day 146 when the Daily Value Percentage is 4.22% for the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy and 3.79% for the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you do not take any other withdrawals during the initial Term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the withdrawal is covered by the Free Withdrawal Allowance and therefore no Early Withdrawal Charges apply (If
Early Withdrawal Charges did apply, the amounts realized at the end of the Term would be reduced by both the withdrawal and the amount of the Early Withdrawal Charge);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1130 on the 1-year Term end date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you have not made a Performance Lock election.

Please note that even with a rising Index, the Daily Value Percentage may be negative or lower than the Index rise because the Net Option Price is not equal to the current Index price, and because the Daily Value Percentage calculation subtracts the Residual Option Cost and Trading Cost from the Net Option Price.

------

---

| | | |
|:---|:---|:---|
| **Impact of $10,000 Withdrawal on Day 146 of Term** | **S&P 500 1-Year 10% Buffer with<br>Performance Trigger Strategy** | **S&P 500 1-Year 10% Buffer with**<br>**Dual Performance Trigger Strategy** |
|  Investment Base at Term Start | $50000 | $50000 |
|  Daily Charges through withdrawal date | $191 | $191 |
|  Remaining Investment Base | $49809 | $49809 |
|  Daily Value Percentage on Withdrawal Date | 4.22% | 3.79% |
|  Dollar Amount of Increase on Withdrawal Date | $49,809 x .0422 = $2,102 | $49,809 x .0379 = $1,888 |
|  Strategy Value before Withdrawal | $49,809 + $2,102 = $51,911 | $49,809 + $1,888 = $51,697 |
|  Amount Withdrawn\* | $5010 | $4990 |
|  Withdrawal as Percentage of Strategy Value | $5,010 / $51,991 = 9.65% | $4,990 / $51,697 = 9.65% |
|  Proportional Reduction in Investment Base | $49,809 x .0965 = $4,807 | $49,809 x .0965 = $4,807 |
|  Investment Base after Withdrawal | $49,809 - $4,807 = $45,002 | $49,809 - $4,891 = $45,002 |
|  **Value at End of Term** |  |  |
|  Investment Base after Withdrawal | $45002 | $45002 |
|  Daily Charges From Withdrawal Date to Term End | $257 | $257 |
|  Remaining Investment Base | $44745 | $44745 |
|  Index at Term Start | 1000 | 1000 |
|  Index at Term End | 1130 | 1130 |
|  Rise in Index | 13% | 13% |
|  Trigger Rate Activated? | Yes | Yes |
|  Trigger Rate | 11% | 8% |
|  Increase as a Percentage | 11.00% | 8.00% |
|  Dollar Amount of Increase | $44,745 x .1100 = $4,922 | $44,745 x .0800 = $3,580 |
|  Strategy Value at Term End | $44,745 + $4,922 = $49,667 | $44,745 + $3,580 = $48,325 |

---

\* Note: The withdrawal is taken proportionally from each Indexed Strategy, based on the ratio of that Strategy's value to the total value of all Indexed Strategies immediately before the withdrawal. In this example, the total value of all Indexed Strategies immediately before the withdrawal was $103,608 ($51,911 + $51,697). The S&P 500 1-Year 10% Buffer with Performance Trigger Strategy value was 50.10% of that total value ($51,911 / $103,608 = 50.10%), so 50.10% of the $10,000 withdrawal ($5010) was taken from it. The S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy value was 49.90% of that total value ($51,697 / $103,608 = 49.90%), so 49.90% of the $10,000 withdrawal ($4990) was taken from it. 

In this example, you invested $50,000 in the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy and $50,000 in the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy. At the end of the 1-year Term you realized $107,992 from the Strategies ($10,000 withdrawal plus the Strategy values of $49,667 and $48,325 at the end of the 1-year Term). Had no withdrawal occurred, your 1-year Strategy values at the end of the Term would have totaled $108,460 ($50,000 minus $475 in Daily Charges, plus an 11.00% increase for the S&P 500 S&P 500 1-Year 10% Buffer with Performance Trigger Strategy, and $50,000 minus $475 in Daily Charges, plus an 8.00% increase for the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy.)

The hypothetical Strategy value for the combined Strategies ($108,460) exceeds the amount realized ($107,992) because the portion of the Investment Base withdrawn from each Strategy did not earn the index increase (11.00% and 8.00% respectively) it would have earned if it had been left in the respective Strategy for the entire Term.

In this example, the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy performed better than the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy because the Trigger Rate for the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy was higher than the Trigger Rate for the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy.

------

**Example C: Withdrawal When Index Falling Steadily – Downside Participation Rate and Buffer Strategies** 

This example assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract was issued on or after December 7, 2025, so a Daily Charge rate of 0.95% applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you allocate $50,000 to an S&P 500 1-Year 50% Downside Participation
Rate with Cap Strategy (or $50,000 to an S&P 500 1-year 50% Downside Participation Rate with Upside Participation Rate Strategy, either of which has a 50% Downside Participation Rate) and $50,000 to the
S&P 500 6-Year 10% Buffer with Upside Participation Rate & Cap Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1000 on the Term start date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 decreases steadily at a 10% annual rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you request a $10,000 withdrawal on Day 146 when the Daily Value Percentage is -1.53% for the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy and -3.18% for the S&P 500 6-Year 10% Buffer with Upside Participation Rate Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you do not take any other withdrawals during the initial Term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the withdrawal is covered by the Free Withdrawal Allowance and therefore no Early Withdrawal Charges apply (If
Early Withdrawal Charges did apply, the amounts realized at the end of the Term would be reduced by both the withdrawal and the amount of the Early Withdrawal Charge);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 900 on the 1-year Term end date and 531 at the 6-year Term end date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you have not made a Performance Lock election.

Please note that the Daily Value Percentage may be more negative than the fall in the Index because the Net Option Price is not equal to the current Index price, and because the Daily Value Percentage calculation subtracts the Residual Option Cost and Trading Cost from the Net Option Price.

---

| | | |
|:---|:---|:---|
| **Impact of $10,000 Withdrawal on Day 146 of Term** | **S&P 500 1-Year 50% Downside Participation<br>Rate with Cap Strategy** | **S&P 500 6-Year 10% Buffer with Upside<br>Participation Rate & Cap Strategy** |
|  Investment Base at Term Start | $50000 | $50000 |
|  Daily Charges through withdrawal date | $191 | $191 |
|  Remaining Investment Base | $49809 | $49809 |
|  Daily Value Percentage on Withdrawal Date | -1.53% | -3.18% |
|  Dollar Amount of Decrease on Withdrawal Date | $49,809 x -.0153 = $762 | $49,809 x - 0318 = $1,584 |
|  Strategy Value before Withdrawal | $49,809 -$762 = $49,047 | $49,809 - $1,584 = $48,225 |
|  Amount Withdrawn\* | $10000 | $0 |
|  Withdrawal as Percentage of Strategy Value | $10,000 /$49,047 = 20.39% | $0/ $48,225 = 0% |
|  Proportional Reduction in Investment Base | $49,809 x .2039 = $10,156 | $49,809 x .0 = $0 |
|  Investment Base after Withdrawal | $49,809 - $10,156 = $39,653 | $49,809 - $0 = $49,809 |
|  **Value at End of Term** |  |  |
|  Investment Base after Withdrawal | $39653 | $49809 |
|  Daily Charges From Withdrawal Date to Term End | $226 | $2593 |
|  Remaining Investment Base | $39427 | $47216 |
|  Index at Term Start | 1000 | 1000 |
|  Index at Term End | 900 | 531 |
|  Fall in Index | 10.00% | 46.90% |
|  Downside Participation Rate | 50% | n/a |
|  Buffer | n/a | 10% |
|  Decrease as a Percentage | -10.00% x 50% = 5.00% | -46.90% - 10% = 36.90% |
|  Dollar Amount of Decrease | $39,427 x 0500 = $1,971 | $47,216 x 3690 = $17,423 |
|  Strategy Value at Term End | $39,427 - $1,971 = $37,456 | $47,216 - $17,423 = $29,793 |

---

\* Note: The withdrawal is taken proportionally from Indexed Strategies having the shortest Term, based on the ratio of that Strategy's value to the total value of all Indexed Strategies having the same Term length immediately before the withdrawal. This means the withdrawal will be taken proportionally from Indexed Strategies with 1-year Terms, and then proportionally from Indexed Strategies with 2-year Terms, and then proportionally from Indexed Strategies with 3-year Terms, and finally from Indexed Strategies having 6-year Terms. In this example, only one Indexed Strategy had a 1-year Term, so 100% of the $10,000 withdrawal was taken from it. A withdrawal would only be taken from the S&P 500 6-Year 10% Buffer with Upside Participation Rate Strategy value when no amounts remain in Indexed Strategies with a 1-year Term, 2-year Term, or 3-year Term. 

In this example, you invested $50,000 in the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy and $50,000 in the S&P 500 6-Year Buffer with Upside Participation Rate Strategy. At the end of the 1-year Term you realized $47,456 ($10,000 withdrawal plus the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy value of $37,456 at the end of the 1-year Term). Had no withdrawal occurred, your Strategy value at the end of the 1-year Term would have totaled $47,049 ($50,000 minus $475 in Daily Charges and minus the 5% decrease for the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy).

------

At the end of the 6-year Term you realized $29,793, which is the same amount you would have realized had no withdrawal occurred, because no amounts were withdrawn from the 6-year Strategy.

The amount realized at the end of the 1-year Term for the S&P 500 1-year 50% Downside Participation Rate with Cap Strategy ($47,456) exceeds the hypothetical Strategy value at the end of the 1-year Term ($47,049) because the entire $10,000 withdrawal was taken from the 1-year Strategy, and that portion was not subject to the 5% decrease it would have suffered if it had been left in the Strategy for the entire 1-year Term.

The Strategy value for the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy at the end of a 1-year Term ($37,456) is higher than the S&P 500 6-Year Buffer with Upside Participation Rate Strategy at the end of a 6-year Term ($29,793). Even though the entire $10,000 withdrawal was taken from the 1-year Strategy, the fact that the Index continued to decrease at the same annual rate over the 6-year Term more than offset the initial advantage the 6-year Strategy had over the 1-year Strategy due to the lack of a withdrawal.

**Example D: Withdrawal When Index Falling Steadily – Trigger Strategies** 

This example assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract was issued on or after June 7, 2024, so a Daily Charge rate of 0.95% applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you allocate $50,000 to the S&P 500 1-Year 10% Buffer with
Performance Trigger Strategy, and $50,000 to the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Trigger Rate for the initial Term of the S&P 500 1-Year 10%
Buffer with Performance Trigger Strategy is 11%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Trigger Rate for the initial Term of the S&P 500 1-Year 10%
Buffer with Performance Trigger Strategy is 8%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1000 on the Term start date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you request a $10,000 withdrawal on Day 146 when the Daily Value Percentage is -2.31% for the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy and -0.74% for the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you do not take any other withdrawals during the initial Term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the withdrawal is covered by the Free Withdrawal Allowance and therefore no Early Withdrawal Charges apply (If
Early Withdrawal Charges did apply, the amounts realized at the end of the Term would be reduced by both the withdrawal and the amount of the Early Withdrawal Charge);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 800 on the 1-year Term end date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you have not made a Performance Lock election.

Please note that the Daily Value Percentage may be more negative than the fall in the Index because the Net Option Price is not equal to the current Index price, and because the Daily Value Percentage calculation subtracts the Residual Option Cost and Trading Cost from the Net Option Price.

---

| | | |
|:---|:---|:---|
| **Impact of $10,000 Withdrawal on Day 146 of Term** | **S&P 500 1-Year 10% Buffer with Performance<br>Trigger Strategy** | **S&P 500 1-Year 10% Buffer with Dual<br>Performance Trigger Strategy** |
|  Investment Base at Term Start | $50000 | $50000 |
|  Daily Charges through Withdrawal Date | $191 | $191 |
|  Remaining Investment Base | $49809 | $49809 |
|  Daily Value Percentage on Withdrawal Date | -2.31% | -0.74% |
|  Dollar Amount of Decrease on Withdrawal Date | -($49,809 x -.0231) = $1,151 | -($49,809 x -.0074) = $369 |
|  Strategy Value before Withdrawal | $49,809 - $1,151 = $48,658 | $49,809 - $369 = $49,440 |
|  Amount Withdrawn\* | $4960 | $5040 |
|  Withdrawal as Percentage of Strategy Value | $4,960 / $48,658 = 10.19% | $5,040 / $49,440 = 10.19% |
|  Proportional Reduction in Investment Base | $49,809 x .1019 = $5,076 | $49,809 x .1019 = $5,076 |
|  Investment Base after Withdrawal | $49,809 - $5,076 = $44,733 | $49,809 - $5,076 = $44,733 |
|  **Value at End of Term** |  |  |
|  Investment Base after Withdrawal | $44733 | $44733 |
|  Daily Charges from Withdrawal Date to Term End | $255 | $255 |
|  Remaining Investment Base | $44478 | $44478 |
|  Index at Term Start | 1000 | 1000 |
|  Index at Term End | 800 | 800 |
|  Fall in Index | 20% | 20% |
|  Buffer | 10% | 10% |
|  Decrease as a Percentage | 20% - 10% = 10.00% | 20% - 10% = 10.00% |
|  Dollar Amount of Decrease | $44,478 x .1000 = $4,448 | $44,478 x .1000 = $4,448 |
|  Strategy Value at Term End | $44,478 - $4,448 = $40,030 | $44,478 - $4,448 = $40,030 |

---

------

\* Note: The withdrawal is taken proportionally from each Indexed Strategy, based on the ratio of that Strategy's value to the total value of all Indexed Strategies immediately before the withdrawal. In this example, the total value of all Indexed Strategies immediately before the withdrawal was $98,098 ($48,658 + $49,440). The S&P 500 1-Year 10% Buffer with Performance Trigger Strategy value was 49.60% of that total value ($48,658 / $98,098 = 49.60%), so 49.60% of the $10,000 withdrawal ($4960) was taken from it. The S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy value was 50.40% of that total value ($49,440 / $98,098 = 49.90%), so 50.40% of the $10,000 withdrawal ($5040) was taken from it. 

In this example, you invested $50,000 in the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy and $50,000 in the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy. At the end of the 1-year Term you realized $90,060 from the Strategies ($10,000 withdrawal plus the Strategy values of $40,030 and $40,030 at the end of the 1-year Term). Had no withdrawal occurred, your 1-year Strategy values at the end of the Term would have totaled $89,146 ($50,000 minus $475 in Daily Charges, minus a 10.00% decrease for the S&P 500 S&P 500 1-Year 10% Buffer with Performance Trigger Strategy, and $50,000 minus $475 in Daily Charges, minus a 10.00% decrease for the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy.)

The amount realized at the end of the 1-year Term for the combined Strategies ($90,060) exceeds the hypothetical Strategy value ($89,146), because the $10,000 that was withdrawn was not subject to the full 10% decrease it would have suffered if it had been left in the Strategies for the entire 1-year Term.

In this example, the S&P 500 1-Year 10% Buffer with Performance Trigger Strategy and the S&P 500 1-Year 10% Buffer with Dual Performance Trigger Strategy performed identically because they are based on the same Index and the decrease in that Index was greater than 10%. Therefore, the 10% Buffer came into play for both Strategies.

**Example E: Amount Available for a Withdrawal When Index Rises Less Than Daily Charge Rate - Cap and Upside Participation Rate Strategies** 

The following example is intended to help you understand the amount that may be available for withdrawal when the Index rises at a rate lower than the amount of the Daily Charge over a Term. In such a scenario, Strategy values will be lower at the end of a Term than they were at the beginning of the Term, despite the fact that the Index rose over that period. This scenario will not apply to Trigger Strategies because the highest Daily Charge (0.95%) is lower than the lowest possible Trigger Rate (1.00%).

This example assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• your Contract was issued on or after June 7, 2024, so a Daily Charge rate of 0.95% applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you allocate a $50,000 Purchase Payment to the S&P 500 1-Year 50%
Downside Participation Rate with Cap Strategy when the S&P 500 is 1000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you allocate a $50,000 Purchase Payment to the S&P 500 1-Year 50%
Downside Participation Rate with Upside Participation Rate Strategy when the S&P 500 is 1000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Contract Effective Date and the Term Start Date are both April 6, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you do not take any withdrawals during the initial Term; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the S&P 500 is 1005 on the Term end date of April 6, 2026.

---

| | | | |
|:---|:---|:---|:---|
| **Term Start Date - April 6, 2025** | **S&P 500 1-Year 50% Downside<br>Participation Rate with<br>Cap Strategy** | **S&P 500 1-Year 50% Downside<br>Participation Rate with<br>Upside Participation Rate<br>Strategy** | |
|  Strategy Value | $50000 | $50000 | See Footnote 1 below. |
|  Investment Base | $50000 | $50000 | See Footnote 1 below. |
|  Cap for Term | 10% | n/a | See Footnote 2 below. |
|  Upside Participation Rate for Term | n/a | 75% | See Footnote 3 below. |
|  Index | 1000 | 1000 |  |
|  **Term End Date - April 6, 2026** |  |  |  |
|  Daily Charges From Term Start Date to Term End Date | $475 | $475 | See Footnote 4 below. |
|  Remaining Investment Base | $49525 | $49525 | See Footnote 5 below. |
|  Index at Term Start Date | 1000 | 1000 |  |
|  Index at Term End Date | 1005 | 1005 |  |
|  Rise in Index | 0.50% | 0.50% | See Footnote 6 below. |
|  Increase as a Percentage | 0.500% | 0.375% | See Footnote 7 below. |
|  Dollar Amount of Increase | $248 | $186 | See Footnote 8 below. |
|  Strategy Value at Term End | $49773 | $49711 | See Footnote 9 below. |

---

------

***Footnote 1.*** On the Term start date, the Strategy value is equal to the amount applied to the Strategy on the Term start date. The amount applied on the Term start date is also the beginning Investment Base.

***Footnote 2.*** The Cap is the maximum positive net Index change for the Term taken into account to determine any increase at the end of a Term. In this example, the Cap is 10%, which means it will not affect the calculation of any increase unless the Index rises by more than 10%.

***Footnote 3.*** The Upside Participation Rate is your share of any rise in the Index for the Term taken into account to determine the Strategy value at the end of the Term. In this example, the Upside Participation Rate is 75%, which means the calculation of any increase will include 75% of any Index rise.

***Footnote 4.*** When no withdrawals are taken over the course of a Term, the Daily Charges through the Term End Date are equal to the Investment Base on the Term Start Date times the annual rate at which the Daily Charge compounds.

---

| | |
|:---|:---|
| Formula | Investment Base on Term Start Date x annual rate |
| Calculation | $50,000 x 0.95% = $475 |

---

***Footnote 5.*** The remaining Investment Base is equal to the beginning Investment Base minus the sum of the Daily Charges and minus the proportional reduction for any prior withdrawals and related Early Withdrawal Charges.

---

| | |
|:---|:---|
| Formula | Beginning Investment Base – sum of Daily Charges since Term Start Date – proportional reduction for any prior Withdrawals and related Early Withdrawal Charges = remaining Investment Base |
| Calculation | $50,000 - $475 - $0 = $49,525 |

---

***Footnote 6.*** The Rise in Index on the Term End Date is equal to the percentage change in the Index value measured from the Term Start Date to the Term End Date.

---

| | |
|:---|:---|
| Formula | (Index value on Term End Date - Index value on Term Start Date) / Index value on Term Start Date |
| Calculation | (1005 - 1000) / 1000 = 0.50% |

---

***Footnote 7.***

When the Index has risen for the Term, we use the following formulas in calculating the increase for the S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy.

---

| | |
|:---|:---|
| Formula | If the rise in Index is less than Cap, then rise in Index = increase percentage based on rise in Index |
| Calculation | 0.50% rise in Index < 10% cap, so increase percentage = 0.50% |

---

When the Index has risen for the Term, we use the following formulas to calculate the increase for a Strategy with an Upside Participation Rate.

---

| | |
|:---|:---|
| Formula | Rise in Index for Term x Upside Participation Rate for Term = Increase as a Percentage |
| Calculation | 0.50% x 75% = 0.375% |

---

------

***Footnote 8***.

When the Index has risen for the Term, we use the following formula to calculate the increase.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Formula | Investment Base x increase percentage based on rise in Index = dollar amount of increase based on rise in Index |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calculation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calculation |

---

---

| | |
|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P 500 1-Year 50% Downside Participation Rate with Cap Strategy: | $49,525 x 0.50% = $248 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy: | $49,525 x 0.375% = $186 |

---

***Footnote 9.*** In this example, there has been a rise in the Index for the Term. This means the Strategy value at the end of the Term is the Investment Base on the Term end date plus the increase for the rise in the Index for the Term.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Formula | Investment Base on Term end date + dollar amount of increase based on rise in Index = Strategy value on Term end date |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calculation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calculation |

---

---

| | |
|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P 500 1-Year 50% Downside Participation Rate with Cap: | $49,525 + $248 = $49,773 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Strategy: | $49,525 + $186 = $49,711 |

---

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**APPENDIX C: STATE VARIATIONS** 

This prospectus describes the material features of the Contract. Contracts issued in your state may provide different features and benefits from, and impose different costs than, those described in this prospectus because of state law variations. However, please note that the maximum charge is set forth in this prospectus. If you would like to review a copy of the Contract and any endorsements, contact us at P.O. Box 5423, Cincinnati, OH 45201-5423, visit our website at <u>www.mmascend.com</u> or call us at 1-800-789-6771.

**For Contracts with a Contract Effective Date on or after May 21, 2025** 

The following information is a summary of material state variations as of the date of this prospectus for Contracts issued in the identified state on or after May 21, 2025.

***California***

***Right to Cancel (Free Look):*** The free look period is 30 days, whether or not you purchase this Contract to replace an existing annuity contract or life insurance policy. If you are under age 60, the amount to be refunded is the Account Value plus Fees/Charges. If you are age 60 or older, the amount to be refunded is the sum of your Purchase Payments.

***Strategy Availability:*** There are four strategies that will not be available for Contracts issued in California on or after May 21, 2025, until regulatory approval is received:

Russell 2000<sup>®</sup> 1-Year 10% Buffer with Cap Indexed Strategy

Russell 2000<sup>®</sup> 1-Year 20% Buffer with Cap Indexed Strategy

Russell 2000<sup>®</sup> 3-Year 10% Buffer with Upside Participation Rate Indexed Strategy

Russell 2000<sup>®</sup> 3-Year 20% Buffer with Upside Participation Rate Indexed Strategy

In addition, the Performance Lock feature on the Russell 2000<sup>®</sup> 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy will not be available until regulatory approval is received.

There are eight Combination Strategies that will not be available for Contracts issued in California on or after January 21, 2026, until regulatory approval is received:

S&P 500<sup>®</sup> 3-Year 10% Buffer with Upside Participation Rate and Cap Indexed Strategy

S&P 500<sup>®</sup> 3-Year 20% Buffer with Upside Participation Rate and Cap Indexed Strategy

S&P 500<sup>®</sup> 6-Year 10% Buffer with Upside Participation Rate and Cap Indexed Strategy

S&P 500<sup>®</sup> 6-Year 20% Buffer with Upside Participation Rate and Cap Indexed Strategy

Russell 2000<sup>®</sup> 3-Year 10% Buffer with Upside Participation Rate and Cap Indexed Strategy

Russell 2000<sup>®</sup> 3-Year 20% Buffer with Upside Participation Rate and Cap Indexed Strategy

Russell 2000<sup>®</sup> 6-Year 10% Buffer with Upside Participation Rate and Cap Indexed Strategy

Russell 2000<sup>®</sup> 6-Year 20% Buffer with Upside Participation Rate and Cap Indexed Strategy

There are eight Strategies that will continue to be available for Contracts issued in California on or after January 21, 2026, until a date to be specified by a supplement to this prospectus after regulatory approval is received for the Combination Strategies:

S&P 500<sup>®</sup> 3-Year 10% Buffer with Upside Participation Rate Indexed Strategy

S&P 500<sup>®</sup> 3-Year 20% Buffer with Upside Participation Rate Indexed Strategy

S&P 500<sup>®</sup> 6-Year 10% Buffer with Upside Participation Rate Indexed Strategy

S&P 500<sup>®</sup> 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy

Russell 2000<sup>®</sup> 3-Year 10% Buffer with Upside Participation Rate Indexed Strategy (subject to regulatory approval)

Russell 2000<sup>®</sup> 3-Year 20% Buffer with Upside Participation Rate Indexed Strategy (subject to regulatory approval)

Russell 2000<sup>®</sup> 6-Year 10% Buffer with Upside Participation Rate Indexed Strategy

Russell 2000<sup>®</sup> 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy

------

***Change of Beneficiary:*** Contracts issued in California before regulatory approval is received will continue to be subject to the requirement that a Change of Beneficiary be received prior to the death for which a Death Benefit is payable.

***Payout Option Guarantee:*** The guarantee that payments under a Payout Option for an Annuity Payout Benefit or Death Benefit will not be less than those that would be provided by the application of the Surrender Value or Death Benefit to purchase a single premium immediate annuity contract at the purchase rate offered by the Company will not apply to Contracts issued in California before regulatory approval is received.

***Extended Care Waiver:*** The Waiver of Early Withdrawal Charges for Facility Care or Home Care or Community-Based Services Rider (CA Rider) provides a waiver under an expanded set of circumstances. The waiver will apply if, at the time of a Surrender, or within the immediately preceding 90 days, the following conditions are met: (1) the insured is confined in a facility or is receiving, as prescribed by a physician, registered nurse or licensed social worker, home care or community-based services; (2) the insured's confinement in a facility, the insured's receipt of home care or community-based services, or any combination thereof has continued for a period of at least 90 consecutive days, disregarding any confinement or services provided during the first Contract Year; and (3) the first day of such confinement or services is after the Contract Effective Date. Facility includes a skilled nursing facility, a convalescent nursing home, an extended care facility, a residential care facility or a residential care facility for the elderly. Home care or community-based services includes home health care, adult day care, personal care, homemaker services, hospice services and respite care as defined in the rider. Additional conforming changes have been made including revised and new definitions, and inclusion of a description of circumstances under which the waiver does not apply. The termination provision has been modified to reflect that the rider will not terminate if you transfer an interest in the contract unless the transfer results in the addition of a new insured.

***Florida***

***Right to Cancel (Free Look):*** The free look period is 21 days. The free look period is 30 days if you purchase this Contract to replace an existing annuity contract or life insurance policy. The amount to be refunded is the Account Value plus Fees/Charges.

***Amendment of the Contract:*** You have the right to reject an endorsement that changes the provisions of this Contract to obtain or retain the intended tax treatment under federal tax law, or to take into account other pertinent laws and governmental regulations and rulings. We will not be responsible for the tax or other consequences of your rejection.

***Massachusetts***

***Extended Care Waiver:*** This waiver rider is not available in Massachusetts.

***Terminal Illness Waiver:*** This waiver rider is not available in Massachusetts.

***Oregon***

***Right to Cancel (Free Look):*** If the Contract is not purchased to replace an existing annuity contract or life insurance policy, the amount to be refunded is the Account Value. If you purchase this Contract to replace an existing annuity contract or life insurance policy and the Contract is cancelled within 21 to 30 days, the amount to be refunded is the Account Value plus Fees/Charges.

***South Carolina***

***Right to Cancel (Free Look):*** If the Contract is not purchased to replace an existing annuity contract or life insurance policy, the amount to be refunded is the sum of your Purchase Payments. If you purchase this Contract to replace an existing annuity contract or life insurance policy and the Contract is cancelled within 21 to 30 days, the amount to be refunded is the Account Value plus Fees/Charges.

**For Contracts with a Contract Effective Date before May 21, 2025** 

The following information is a summary of material state variations as of the date of this prospectus for Contracts issued in the identified state before May 21, 2025. For all state variations related to the Right to Cancel, please refer to the Right to Cancel (Free Look) Table.

***California***

***Extended Care Waiver:*** The Waiver of Early Withdrawal Charges for Facility Care or Home Care or Community-Based Services Rider (CA Rider) provides a waiver under an expanded set of circumstances. The waiver will apply if, at the time of a Surrender, or within the immediately preceding 90 days, the following conditions are met: (1) the insured is confined in a facility or is receiving, as prescribed by a physician, registered nurse or licensed social worker, home care or community-based services; (2) the insured's confinement in a facility, the insured's receipt of home care or community-based services, or any combination thereof has continued for a period of at least 90 consecutive days; and (3) the first day of such 90-day period was at least one year after the Contract Effective Date. Facility includes a skilled nursing facility, a convalescent nursing home, or an extended care facility or a residential care facility or a residential care facility for the elderly. Home care or community-based services includes home health care, adult day care, personal care, homemaker services, hospice services and respite care as defined in the rider. Additional conforming changes have been made including revised and new definitions, and inclusion of a description of circumstances under which the waiver does not apply. The termination provision has been modified to reflect that the rider will not terminate if you transfer or assign an interest in the contract to a person or entity other than the insured.

------

***Connecticut***

***Extended Care Waiver:*** The conditions under which the waiver applies have been modified. The waiver will apply if at the time of a Surrender or within the immediately preceding 90 days all of the following conditions are met: (1) an insured is confined in a long-term care facility or hospital; and (2) the confinement has continued for a period of at least 90 consecutive days.

***Florida***

***Amendment of the Contract:*** You have the right to reject an endorsement that changes the provisions of this Contract to obtain or retain the intended tax treatment under federal tax law, or to take into account other pertinent laws and governmental regulations and rulings. We will not be responsible for the tax or other consequences of your rejection.

***Illinois***

***Civil Union Partners:*** A civil union partner may make a Successor Owner election. However, the Contract must comply with the post-death distribution rules applicable to a non-spouse. The termination of a Civil Union will terminate the designation of the civil union partner as a Beneficiary or payee in the same manner as a divorce.

***Terminal Illness Waiver:*** As a result of the terminal illness, your life expectancy must be less than 24 months from the date of death, rather than less than 12 months.

***Kansas***

***Extended Care Waiver:*** The conditions under which the waiver applies have been modified. The first day of confinement must be at least 90 days after the contract effective date, rather than one year after the contract effective date.

***Terminal Illness Waiver:*** As a result of the terminal illness, your life expectancy must be less than 24 months from the date of death, rather than less than 12 months. The diagnosis must be rendered 90 days after the contract effective date, rather than one year after the contract effective date.

***Massachusetts***

***Extended Care Waiver:*** This waiver rider is not available in Massachusetts.

***Terminal Illness Waiver:*** This waiver rider is not available in Massachusetts.

***Missouri***

***Strategy Availability:*** There are multiple Indexed Strategies that are not available in Missouri. Please refer to Appendix A.

***Performance Lock Availability:*** A Performance Lock is not available in Missouri**.**

***Montana***

***Extended Care Waiver:*** The definition of medically necessary has been modified and refers to the Insured's physician.

***Nebraska***

***Extended Care Waiver:*** The definition of skilled nursing facility has been modified by adding a licensed practical nurse to the list of persons who may provide nursing services or supervise the provision of nursing services.

***New Hampshire***

***Extended Care Waiver:*** The definition of skilled nursing facility has been modified by changing the phrase "licensed and operated as a skilled nursing facility" to "operated as a skilled nursing facility."

***New Jersey***

***Civil Union Partners:*** A civil union partner may make a Successor Owner election. However, the Contract must comply with the post-death distribution rules applicable to a non-spouse. The termination of a Civil Union will terminate the designation of the civil union partner as a Beneficiary or payee in the same manner as a divorce.

***Terminal Illness Waiver:*** The requirement related to the timing of the diagnosis does not apply. But the waiver will not be available until at least one year after the contract effective date.

------

***Ohio***

***Assignment:*** Subject to the tax qualifications endorsement, if any, and other Contract limitations, you may assign your rights to designate or change a Beneficiary or an Annuitant, to change Owners, or to elect a Payout Option if you make a specific Request in Good Order.

***Pennsylvania***

***Extended Care Waiver:*** The conditions under which the waiver is available have been modified. The waiver will apply if at the time of a Surrender or within the immediately preceding 90 days all of the following conditions are met: (1) an insured is confined in one or more long-term care facilities, hospital, or a combination of such; (2) the confinement is prescribed by a physician and is medically necessary; (3) the first day of the confinement is at least one year after the contract effective date; and (4) the confinement has continued for a period of at least 90 consecutive days, or has continued for a total of at least 90 days if each successive confinement occurs within six months of the previous confinement and is for the same related medical cause.

The definition of long-term care facility has been modified. The following facilities have been deleted from the list of facilities excluded from that definition: a facility that primarily treats drug addicts and a facility that is a home for the mentally ill. An exclusion provision has been added to clarify that the waiver will not apply if the insured is confined in a long-term care facility or hospital for the treatment of certain types of drug addiction or mental illnesses.

The definition of hospital has been modified by changing the phrase "it maintains, or has access to, medical, diagnostic, and major surgical facilities" to "it maintains, or has access to, medical and diagnostic facilities."

***Terminal Illness Waiver:*** The diagnosis must be rendered after the Contract Effective Date, rather than one year after the Contract Effective Date. But the waiver will not be available until at least one year after the Contract Effective Date. In addition, the waiver is based on a terminal condition as defined in the rider, rather than a terminal illness.

***Texas***

***Terminal Illness Waiver:*** The diagnosis must be rendered on or after the Contract Effective Date, rather than one year after the Contract Effective Date.

***Payout Options:*** Payments under a Payout Option are subject to a $50 minimum.

***Amendment of the Contract:*** You have the right to reject an endorsement that changes the provisions of this Contract to obtain or retain the intended tax treatment under federal tax law, or to take into account other pertinent laws and governmental regulations and rulings. We will not be responsible for the tax or other consequences of your rejection.

***Involuntary Termination:*** Our right to terminate this Contract is not tied to the minimum required value. We have the right to terminate this Contract if the Account Value would provide a benefit of less than $20 each month at age 70 under a life payout with payments for at least a fixed period of 10 years.

***Vermont***

***Extended Care Waiver:*** The definition of long-term care facility has been modified. The following facilities have been deleted from the list of excluded facilities: a facility that primarily treats drug addicts, a facility that primarily treats alcoholics, and a facility that is a home for the mentally ill. In addition, the definition of physician has been modified by changing the phrase "a person who is licensed in the United States as a medical doctor or a doctor of osteopathy and who is practicing within the scope of his or her license" to "a person who is licensed in the United States who is providing medical care and treatment when such services are provided within the scope of his or her license and provided pursuant to applicable law."

***Washington***

***Extended Care Waiver:*** The waiver is based on confinement to an extended care facility or hospital rather than a long-term care facility or hospital. Definitions are modified to reflect the new terminology, references to "skilled nursing facility" are changed to "nursing facility" and the related definition is modified. In the definition of nursing facility and hospital, a licensed practical nurse is added to the list of persons who may provide nursing services or supervise the provision of nursing services.

***Terminal Illness Waiver:*** As a result of the terminal illness, your life expectancy must be less than 24 months from the date of death, rather than less than 12 months.

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***Right to Cancel (Free Look) Table for Contracts with a Contract Effective Date before May 21, 2025***

State law governs the length of the free look period and the amount of the refund that you will receive. The period and amount may differ if you are replacing a life insurance policy or annuity contract. The table below summarizes the state law provisions.

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| | | | | |
|:---|:---|:---|:---|:---|
| **For Contracts <br>Issued in:** | **Free<br>Look<br>Period** | **Refund** | **Replacement<br>Free Look<br>Period** | **Replacement**<br> **Refund** |
|  Alabama | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Alaska | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Arizona | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Arkansas | 20 days | Account Value | 30 days | Account Value |
| California | 30 days | Account Value + Fees/Charges<br> **Note**: If owner is age 60 or older,<br> refund amount is Purchase Payments. | 30 days | Account Value + Fees/Charges<br> **Note**: If owner is age 60 or older,<br> refund amount is Purchase Payments. |
|  Colorado | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Connecticut | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Delaware | 20 days | Account Value | 30 days | Purchase Payments |
|  District of Columbia | 20 days | Account Value | 30 days | Account Value |
|  Florida | 21 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Georgia | 20 days | Purchase Payments | 30 days | Purchase Payments |
|  Hawaii | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Idaho | 20 days | Purchase Payments | 30 days | Purchase Payments |
|  Illinois | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Indiana | 20 days | Account Value | 30 days | Purchase Payments |
|  Iowa | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Kansas | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Kentucky | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  Louisiana | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  Maine | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Maryland | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  Massachusetts | 20 days | Account Value | 30 days | Purchase Payments |
|  Michigan | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Minnesota | 20 days | Account Value + Fees/Charges | 30 days | Purchase Payments |
|  Mississippi | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Missouri | 20 days | Purchase Payments | 30 days | Purchase Payments |
|  Montana | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Nebraska | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  Nevada | 20 days | Purchase Payments | 30 days | Purchase Payments |
|  New Hampshire | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  New Jersey | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  New Mexico | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  North Carolina | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  North Dakota | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Ohio | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Oklahoma | 20 days | Purchase Payments | 30 days | Purchase Payments |
|  Oregon | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Pennsylvania | 20 days | Account Value | 30 days | Account Value |
|  Rhode Island | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  South Carolina | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  South Dakota | 20 days | Account Value + Fees/Charges | 30 days | Account Value + Fees/Charges |
|  Tennessee | 20 days | Account Value | 30 days | Purchase Payments |
|  Texas | 20 days | Purchase Payments | 30 days | Account Value + Fees/Charges |
|  Utah | 20 days | Purchase Payments | 30 days | Purchase Payments |
|  Vermont | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Virginia | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Washington | 20 days | Greater of: (1) Purchase Payments or (2) Account Value minus taxes | 30 days | Purchase Payments |
|  West Virginia | 20 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Wisconsin | 30 days | Account Value | 30 days | Account Value + Fees/Charges |
|  Wyoming | 20 days | Account Value | 30 days | Greater of: (1) Purchase Payments or (2) Account Value + Fees/Charges |

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**APPENDIX D: INDEX DISCLOSURES** 

**S&P 500<sup>®</sup> Index** 

The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by MassMutual Ascend Life Insurance Company. S&P<sup>®</sup>, S&P 500<sup>®</sup>, US 500, The 500, iBoxx<sup>®</sup>, iTraxx<sup>®</sup> and CDX<sup>®</sup> are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); It is not possible to invest directly in an index. MassMutual Ascend Life Insurance Company Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the MassMutual Ascend Life Insurance Company's Products or any member of the public regarding the advisability of investing in securities generally or in MassMutual Ascend Life Insurance Company's Products particularly or the ability of the S&P 500 Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to MassMutual Ascend Life Insurance Company with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to MassMutual Ascend Life Insurance Company or the MassMutual Ascend Life Insurance Company's Products. S&P Dow Jones Indices has no obligation to take the needs of MassMutual Ascend Life Insurance Company or the owners of MassMutual Ascend Life Insurance Company's Products into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of MassMutual Ascend Life Insurance Company's Products. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.

**S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 Index OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MassMutual Ascend Life Insurance Company, OWNERS OF THE MassMutual Ascend Life Insurance Company's PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 Index OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE MassMutual Ascend Life Insurance Company PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND MassMutual Ascend Life Insurance Company, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.** 

**SPDR<sup>®</sup> Gold Shares ETF Index** 

"SPDR" is a product of S&P Dow Jones Indices LLC ("SPDJI"). Standard and Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and "SPDR" is a trademark of SPDJI.

S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OWNERS OF MASSMUTUAL ASCEND LIFE INSURANCE COMPANY'S PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM ANY TRADEMARK, SERVICE MARK AND/OR TRADE NAME. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE.

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**iShares<sup>®</sup> MSCI EAFE ETF Index** 

The iShares MSCI EAFE ETF is distributed by BlackRock Investments, LLC. iShares<sup>®</sup>, BLACKROCK<sup>®</sup>, and the corresponding logos are registered and unregistered trademarks of BlackRock, Inc. and its affiliates ("BlackRock"), and these trademarks have been licensed for certain purposes by MassMutual Ascend Life Insurance Company. MassMutual Ascend Life annuity products are not sponsored, endorsed, sold, or promoted by BlackRock, and purchasers of an annuity from MassMutual Ascend Life do not acquire any interest in the iShares MSCI EAFE ETF nor enter into any relationship of any kind with BlackRock. BlackRock makes no representation or warranty, express or implied, to the owners of any MassMutual Ascend Life annuity product or any member of the public regarding the advisability of purchasing an annuity, nor does it have any liability for any errors, omissions, interruptions, or use of the iShares MSCI EAFE ETF or any data related thereto.

**iShares<sup>®</sup> U.S. Real Estate ETF Index** 

The iShares U.S. Real Estate ETF is distributed by BlackRock Investments, LLC. iShares<sup>®</sup>, BLACKROCK<sup>®</sup>, and the corresponding logos are registered and unregistered trademarks of BlackRock, Inc. and its affiliates ("BlackRock"), and these trademarks have been licensed for certain purposes by MassMutual Ascend Life Insurance Company. MassMutual Ascend Life annuity products are not sponsored, endorsed, sold, or promoted by BlackRock, and purchasers of an annuity from MassMutual Ascend Life do not acquire any interest in the iShares U.S. Real Estate ETF nor enter into any relationship of any kind with BlackRock. BlackRock makes no representation or warranty, express or implied, to the owners of any MassMutual Ascend Life annuity product or any member of the public regarding the advisability of purchasing an annuity, nor does it have any liability for any errors, omissions, interruptions or use of the iShares U.S. Real Estate ETF or any data related thereto.

**First Trust Barclays Edge Index** 

The First Trust Barclays Edge Index is a custom index created for use in annuities issued by MassMutual Ascend Life Insurance Company. The Index sponsor and the Company have an exclusive agreement in place for this purpose, but the Index sponsor could license the First Trust Barclays Edge Index for additional use at some point in the future once the exclusive time period is complete. The First Trust Barclays Edge Index has no performance history prior to April 14, 2023.

The First Trust Barclays Edge Index ("FTIS Index") is a product of FT Indexing Solutions LLC ("FTIS") and is administered and calculated by

Bloomberg Index Service Limited and its affiliates (collectively, "BISL"). FIRST TRUST<sup>®</sup> is a trademark of First Trust Portfolios L.P. (collectively, with FTIS and their respective affiliates, "First Trust"). The foregoing index and trademark have been licensed for use for certain purposes by Barclays, Bloomberg, and MassMutual Ascend Life in connection with the FTIS Index and MassMutual Ascend Life's products.

The Capital Strength Index ("Nasdaq Index") is a product of Nasdaq, Inc. (collectively, with its affiliates, "Nasdaq"). NASDAQ<sup>®</sup>, CAPITAL

STRENGTH INDEX<sup>TM</sup>, and NQCAPST<sup>TM</sup> are trademarks of Nasdaq.

The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and MassMutual Ascend Life in connection with the FTIS Index and MassMutual Ascend Life's products.

The Value Line Dividend Index ("Value Line Index") is a product of Value Line, Inc. ("Value Line"). VALUE LINE<sup>®</sup> and VALUE LINE DIVIDEND INDEX<sup>™</sup> are trademarks or registered trademarks of Value Line. The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and MassMutual Ascend Life in connection with the FTIS Index and MassMutual Ascend Life's products. The FTIS Index is not sponsored, endorsed, recommended, sold, or promoted by Value Line and Value Line makes no representation regarding the advisability of investing in the FTIS Index.

BLOOMBERG<sup>®</sup> is a trademark and service mark of Bloomberg Finance L.P. Bloomberg Finance L.P., BISL and their affiliates ("Bloomberg") are not affiliated with First Trust or Barclays. Bloomberg's relationship to First Trust and Barclays is only (1) in the licensing of the FIRST TRUST<sup>®</sup>, BARCLAYS<sup>®</sup>, and FIRST TRUST BARCLAYS EDGE INDEX<sup>™</sup> trademarks and (2) to act as the administrator and calculation agent of the FTIS Index, which is the property of FTIS.

MassMutual Ascend Life's products are not issued, sponsored, endorsed, sold, recommended, or promoted by First Trust, Bloomberg, Nasdaq, Value Line, or their respective affiliates (collectively, the "Companies"). The Companies have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to MassMutual Ascend Life's products. The Companies make no representation or warranty, express or implied, to the owners of any product based on the FTIS Index, Barclays Indices, Nasdaq Index, or Value Line Index, or to any member of the public regarding the advisability of investing in securities generally or in products based on the FTIS Index, Barclays Indices, Nasdaq Indices, or Value Line Index particularly, or the ability of the FTIS Index, Barclays Indices, Nasdaq Indices, or Value Line Index to track general stock market performance. The Companies' only relationship to MassMutual Ascend Life is in the licensing of the certain trademarks, trade names, and service marks and the use of the FTIS Index, Barclays Indices, Nasdaq Indices, and Value Line Indices, which are determined, composed, and calculated without regard to MassMutual Ascend Life or MassMutual Ascend Life's products y. The Companies have no obligation to take the needs of MassMutual Ascend Life, or the owners of MassMutual Ascend Life's products, or the sponsors or owners of products based on the FTIS Index, Barclays Indices, Nasdaq Index, or Value Line Index into consideration when determining, composing, or calculating the FTIS Index, Barclays Indices, Nasdaq Index, and Value Line Index. The Companies are not responsible for and have not participated in the determination or calculation of MassMutual Ascend Life's products. There are no assurances from the Companies that products based on the FTIS Index, Barclays Indices, Nasdaq Index, or Value Line Index will accurately track index performance or provide positive investment returns. The Companies have no liability in connection with the administration, marketing, or trading of MassMutual Ascend Life's products. The Companies are not investment advisors.

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Inclusion of a security or financial instrument within an index is not a recommendation by the Companies to buy, sell, or hold such security or financial instrument, nor is it considered to be investment advice.

THE COMPANIES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS, COMPLETENESS, AND/OR UNINTERRUPTED CALCULATION OF MASSMUTUAL ASCEND LIFE'S PRODUCTS, FTIS INDEX, BARCLAYS INDICES, NASDAQ INDEX, VALUE LINE INDEX, OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING, ORAL, WRITTEN, OR ELECTRONIC COMMUNICATIONS. THE COMPANIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS IN MASSMUTUAL ASCEND LIFE'S PRODUCTS, FTIS INDEX, BARCLAYS INDICES, NASDAQ INDEX, OR VALUE LINE INDEX. THE COMPANIES MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE RESULTS TO BE OBTAINED BY MASSMUTUAL ASCEND LIFE, OWNERS OF MASSMUTUAL ASCEND LIFE'S PRODUCTS OR OF PRODUCTS BASED ON THE FTIS INDEX, BARCLAYS INDICES, NASDAQ INDEX, OR VALUE LINE INDEX, OR BY ANY OTHER PERSON OR ENTITY FROM THE USE OF THE FTIS INDEX, BARCLAYS INDICES, NASDAQ INDEX, OR VALUE LINE INDEX, OR ANY DATA INCLUDED THEREIN. THE COMPANIES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO MASSMUTUAL ASCEND LIFE'S PRODUCTS, FTIS INDEX, BARCLAYS INDICES, NASDAQ INDEX, VALUE LINE INDEX, OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE COMPANIES BE SUBJECT TO ANY DAMAGES OR HAVE ANY LIABILITY FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OR LOSSES, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME, OR GOODWILL, WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE. EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN MASSMUTUAL ASCEND LIFE AND THE COMPANIES.

Neither Barclays Bank PLC ('**BB PLC**'') nor any of its affiliates (collectively **'Barclays**') is the issuer or producer of MassMutual Ascend Life's products and Barclays has no responsibilities, obligations, or duties to investors in MassMutual Ascend Life's products. The Barclays US 2Y Treasury Futures Index, Barclays US 5Y Treasury Futures Index, Barclays US 10Y Treasury Futures Index, and Barclays Switch USD Signal Index (collectively, the "**Indices**"), together with any Barclays indices that are components of the Indices, are trademarks owned by Barclays and, together with any component indices and index data, are licensed for use by MassMutual Ascend Life as the issuer or producer of MassMutual Ascend Life's products (the '**Issuer**').

Barclays' only relationship with the Issuer in respect of the Indices is the licensing of the Indices, which are administered, compiled, and published by BB PLC in its role as the index sponsor (the '**Index Sponsor**') without regard to the Issuer or MassMutual Ascend Life's products or investors in MassMutual Ascend Life's products. Additionally, MassMutual Ascend Life as issuer or producer of MassMutual Ascend Life's products may for itself execute transaction(s) with Barclays in or relating to the Indices in connection with MassMutual Ascend Life's products. Investors acquire MassMutual Ascend Life's products from MassMutual Ascend Life and investors neither acquire any interest in the Indices nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in MassMutual Ascend Life's products. MassMutual Ascend Life's products are not sponsored, endorsed, sold, or promoted by Barclays and Barclays makes no representation regarding the advisability of MassMutual Ascend Life's products or use of the Indices or any data included therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of the use or accuracy of the Indices or any data included therein.

Barclays Index Administration ("**BINDA**"), a distinct function within BB PLC, is responsible for day-to-day governance of BB PLC's activities as Index Sponsor.

To protect the integrity of Barclays' indices, BB PLC has in place a control framework designed to identify and remove and/or mitigate (as appropriate) conflicts of interest. Within the control framework, BINDA has the following specific responsibilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• oversight of any third-party index calculation agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• acting as approvals body for index lifecycle events (index launch, change and retirement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• resolving unforeseen index calculation issues where discretion or interpretation may be required (for example:
upon the occurrence of market disruption events).

To promote the independence of BINDA, the function is operationally separate from BB PLC's sales, trading and structuring desks, investment managers, and other business units that have, or may be perceived to have, interests that may conflict with the independence or integrity of Barclays' indices.

Notwithstanding the foregoing, potential conflicts of interest exist as a consequence of BB PLC providing indices alongside its other businesses. Please note the following in relation to Barclays' indices:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BB PLC may act in multiple capacities with respect to a particular index including, but not limited to,
functioning as index sponsor, index administrator, index owner and licensor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sales, trading, or structuring desks in BB PLC may launch products linked to the performance of an index. These
products are typically hedged by BB PLC's trading desks. In hedging an index, a trading desk may purchase or sell constituents of that index. These purchases or sales may affect the prices of the index constituents which could in turn affect
the level of that index.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BB PLC may establish investment funds that track an index or otherwise use an index for portfolio or asset
allocation decisions.

The Index Sponsor is under no obligation to continue the administration, compilation and publication of the Indices or the level of the Indices. While the Index Sponsor currently employs the methodology ascribed to the Indices (and application of such methodology shall be conclusive and binding), no assurance can be given that market, regulatory, juridical, financial, fiscal or other circumstances (including, but not limited to, any changes to or any suspension or termination of or any other events affecting any constituent within the Index) will not arise that would, in the view of the Index Sponsor, necessitate an adjustment, modification or change of such methodology. In certain circumstances, the Index Sponsor may suspend or terminate the Indices. The Index Sponsor has appointed a third-party agent (the '**Index Calculation Agent**') to calculate and maintain the Indices. While the Index Sponsor is responsible for the operation of the Indices, certain aspects have thus been outsourced to the Index Calculation Agent.

Barclays

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. makes no representation or warranty, express or implied, to the Issuer or any member of the public regarding
the advisability of investing in transactions generally or the ability of the Indices to track the performance of any market or underlying assets or data; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. has no obligation to take the needs of the Issuer into consideration in administering, compiling, or publishing
the Indices.

Barclays has no obligation or liability in connection with administration, marketing, or trading of MassMutual Ascend Life's products.

The licensing agreement between FTIS and BB PLC is solely for the benefit of FTIS and Barclays and not for the benefit of the owners of MassMutual Ascend Life's products, investors or other third parties.

BARCLAYS DOES NOT GUARANTEE, AND SHALL HAVE NO LIABILITY TO THE PURCHASERS AND TRADERS, AS THE CASE MAY BE, OF THE TRANSACTION OR TO THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE INDICES OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE INDICES. BARCLAYS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES INCLUDING, WITHOUT LIMITATION, THE INDICES, OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL BARCLAYS HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES SAVE TO THE EXTENT THAT SUCH EXCLUSION OF LIABILITY IS PROHIBITED BY LAW.

None of the information supplied by Barclays and used in this publication may be reproduced in any manner without the prior written permission of Barclays Bank PLC. Barclays Bank PLC is registered in England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

**Russell 2000<sup>®</sup> Index** 

MassMutual Ascend Life annuity products have been developed solely by MassMutual Ascend Life Insurance Company. MassMutual Ascend Life annuity products are not in any way connected to or sponsored, endorsed, sold, or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies.

All rights in the Russell 2000 Index vest in the relevant LSE Group company which owns the Index. "Russell<sup>®</sup>" and "Russell 2000<sup>®</sup>" are trademarks of the relevant LSE Group company and are used by any other LSE Group company under license.

The Russell 2000 Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent, or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on, or any error in the Russell 2000 Index or (b) investment in or operation of MassMutual Ascend Life annuity products. The LSE Group makes no claim, prediction, warranty, or representation either as to the results to be obtained from MassMutual Ascend Life annuity products or the suitability of the Russell 2000 Index for the purpose to which it is being put by MassMutual Ascend Life Insurance Company.

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**\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*** 

Our form number for the Contract is ICC24-P1833624NW or P1833621NW. Each endorsement or rider also has a separate form number. The form numbers may vary by state. The Securities and Exchange Commission file number for the Contract is 333-276475.

The Contract does not invest in any equity, debt, or other investments.

The Statement of Additional Information ("SAI"), dated May 1, 2025, includes additional information about the Contract and the Company. The SAI is incorporated by reference into this prospectus. The SAI is available, without charge, upon request. For a free copy, or to request other information about the Contract or make other inquiries, contact us by visiting <u>www.massmutualascend.com/RILAcompliancedocuments</u>, calling 1-800-789-6771, or in writing at the following address:

MassMutual Ascend Life Insurance Company

Administrative Office: P.O. Box 5423, Cincinnati OH 45201-5423

Policy Administration: 1-800-789-6771

Reports and other information about the Company are available on the SEC's website at <u>https://www.sec.gov</u>, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier No. C000261635

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**MASSMUTUAL ASCEND LIFE INSURANCE COMPANY<sup>®</sup>** 

**INDIVIDUAL INDEX-LINKED MODIFIED SINGLE PREMIUM DEFERRED ANNUITY** 

**INDEX SUMMIT 6 PRO WITH DEATH BENEFIT RETURN OF PREMIUM** 

**INDEX SUMMIT 6 PRO** 

**STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2025** 

**AS AMENDED NOVEMBER [ ], 2025** 

This Statement of Additional Information supplements the current prospectus for the Index Summit 6 Pro with Death Benefit Return of Premium Guarantee and the Index Summit 6 Pro index-linked annuity contracts (the "Contracts") offered by MassMutual Ascend Life Insurance Company<sup>®</sup>. This statement of additional information is not a prospectus and should be read only in conjunction with the Prospectuses for the Contracts dated May 1, 2025, as amended. Terms used in the current prospectuses for the Contracts are incorporated in this Statement of Additional Information and have the same meaning as in the Prospectuses.

A copy of a Contract prospectus dated May 1, 2025, as supplemented from time to time, may be obtained without charge by writing to MassMutual Ascend Life Insurance Company, P.O. Box 5423, Cincinnati, Ohio 45201-5423. You may also call us at 1-800-789-6771 or visit us at our website <u>www.massmutualascend.com/RILAcompliancedocuments</u> to request a copy.

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**Table of Contents** 

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| | |
|:---|:---|
|  [MASSMUTUAL ASCEND LIFE INSURANCE COMPANY](#sai947355_1) | 3 |
|  [SERVICES](#sai947355_2) | 3 |
|  [INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#sai947355_3) | 4 |
|  [DISTRIBUTION OF THE CONTRACTS](#sai947355_4) | 4 |
|  [CONTRACT ADJUSTMENTS](#sai947355_5) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Daily Value Percentage](#sai947355_6) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Option Prices](#sai947355_7) | 14 |
|  [FINANCIAL STATEMENTS](#sai947355_8) | 15 |

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**MASSMUTUAL ASCEND LIFE INSURANCE COMPANY** 

**General Information and History** 

MassMutual Ascend Life Insurance Company ("MassMutual Ascend Life") is a stock insurance company incorporated in 1961. We are domiciled in the state of Ohio and have been continuously engaged in the insurance business since that time. We are licensed to conduct life insurance business in all states of the United States except New York, as well as the District of Columbia and Puerto Rico. Our principal executive offices are located at 191 Rosa Parks Street, Cincinnati, Ohio 45202.

We are a wholly-owned subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual"), a mutual life insurance company. MassMutual and its domestic life insurance subsidiaries provide individual and group life insurance, disability insurance, individual and group annuities and guaranteed interest contracts to individual and institutional customers in all 50 states of the U.S., the District of Columbia and Puerto Rico.

Prior to October 3, 2022, MassMutual Ascend Life's name was Great American Life Insurance Company ("GALIC"). On May 28, 2021, American Financial Group, Inc. sold its annuity business consisting of GALIC and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company, as well as a broker-dealer affiliate, Great American Advisors, LLC, and insurance distributor, AAG Insurance Agency, Inc. to MassMutual.

**The General Account** 

Our general account (the "General Account") holds all our assets other than assets in our insulated separate accounts. We own our General Account assets, and, subject to applicable law, have sole investment discretion over them. The assets are subject to our general business operation liabilities and claims of our creditors and may lose value. Our General Account assets fund the guarantees provided in the Contracts.

We must invest our assets according to applicable state laws regarding the nature, quality and diversification of investments that may be made by life insurance companies. In general, these laws permit investments, within specified limits and subject to certain qualifications, in Federal, state, and municipal obligations, corporate bonds, preferred and common stocks, real estate mortgages, real estate and certain other investments.

We place a majority of the Purchase Payments made under the Contract in our General Account where we primarily invest the assets in a variety of fixed income securities.

**The Separate Account** 

We place a portion of the Purchase Payments made under the Contract in a non-unitized separate account (the "Separate Account") that is not registered with the Securities and Exchange Commission. We established and maintain the Separate Account pursuant to the laws of our domiciliary state for the purpose of supporting our obligation to adjust the Indexed Strategy values based on the Daily Value Percentage or rise or fall of the Index. The assets of the Separate Account are held in our name on behalf of the Separate Account and legally belong to us. The assets in the Separate Account are not chargeable with liabilities arising out of any other business that we conduct. We may invest these assets in hedging instruments, including derivative contracts as well as other assets permitted under state law. To support our obligations to adjust the Indexed Strategy values, we may move money between the Separate Account and our General Account. We are not obligated to invest the assets of the Separate Account according to any particular plan except as we may be required to by state insurance laws. Regardless of your Strategy allocations, we do not intend to invest the assets of the Separate Account in the iShares MSCI EAFE exchange traded fund, the iShares U.S. Real Estate exchange traded fund, or the SPDR Gold Shares exchange traded fund. We may or may not hold the hypothetical options described in this statement of additional information in the Separate Account.

Contract owners do not have any interest in or claim on the assets in the Separate Account nor do Contract owners participate in any way in the performance of assets held in the Separate Account.

**State Regulations** 

We are subject to the insurance laws and regulations of all the jurisdictions where we are licensed to operate. The availability of certain Contract rights and provisions depends on state approval and/or filing and review processes in each jurisdiction. Where required by law or regulation, or to meet the requirements for inclusion as an investment option in certain retirement programs, the Contract will be modified accordingly.

**SERVICES** 

Pursuant to a Leased Employee Agreement between MassMutual Ascend Life and Glidepath Holdings, Inc. ("Glidepath"), a wholly-owned a subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual"), Glidepath furnishes MassMutual Ascend Life with personnel as requested by MassMutual Ascend Life. MassMutual Ascend Life pays for these services on the basis of cost, which must be fair and reasonable. Payments for these services by MassMutual Ascend Life to Glidepath were approximately $119 million in 2024, $109 million in 2023 and $98 million in 2022.

MassMutual Ascend Life and Barings LLC ("Barings"), a subsidiary of MassMutual, are parties to an Investment Services Agreement under which Barings provides investment services to MassMutual Ascend Life in accordance with guidelines. MassMutual Ascend Life pays Barings a fee based on Barings's cost of providing these services.

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Pursuant to an Administrative Services Agreement between MassMutual Ascend Life and MassMutual, MassMutual furnishes MassMutual Ascend Life with office, data processing, telecommunications, and administrative and support services, including enterprise risk management services, corporate finance services, actuarial services, legal services, internal audit services, corporate compliance services and procurement services, as agreed upon by the parties. Payments for these services by MassMutual Ascend Life to MassMutual were approximately $4.3 million in 2024, $4.4 million in 2023 and $4.4 million in 2022.

MassMutual Ascend Life and its subsidiaries have entered into an intercompany tax allocation agreement. Pursuant to the agreement, each company's tax expense is determined based upon its inclusion in the consolidated tax return of MassMutual Ascend Life and its includable subsidiaries. Estimated payments are made quarterly during the year. Following year-end, additional settlements are made on the original due date of the return and, when extended, at the time the return is filed. The method of allocation among the companies under the agreement is based upon separate return calculations with current credit for losses to the extent the losses provide a benefit in the consolidated return.

**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

The statutory financial statements and financial statement schedules of MassMutual Ascend Life Insurance Company (formerly known as Great American Life Insurance Company) at December 31, 2024, 2023, and 2022, and for each of the years in the three year period ended December 31, 2024, have been included herein in reliance upon the reports of [ ], independent registered public accounting firm, appearing elsewhere herein, and upon the authority of said firm as experts in accounting and auditing.

The [ ] report dated April 9, 2025 of MassMutual Ascend Life Insurance Company includes explanatory language that states that the financial statements are prepared by MassMutual Ascend Life Insurance Company using statutory accounting practices prescribed or permitted by the Ohio Department of Insurance, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the [ ] audit report states that the financial statements are not presented fairly in accordance with U.S. generally accepted accounting principles and further states that those statements are presented fairly, in all material respects, in accordance with statutory accounting practices prescribed or permitted by the Ohio Department of Insurance.

The [ ] report dated April 9, 2025 of MassMutual Ascend Life Insurance Company includes an emphasis of matter paragraph that states that MassMutual Ascend Life Insurance Company elected to apply a prescribed practice promulgated under Ohio Administrative Code Section 3901-1-67 ("OAC 3901-1-67") to its derivative instruments hedging indexed products and indexed annuity reserve liabilities. The opinion was not modified with respect to this matter.

**DISTRIBUTION OF THE CONTRACTS** 

The Contracts are offered on a continuous basis. MM Ascend Life Investor Services, LLC ("MMALIS"), formerly known as Great American Advisors, LLC, 191 Rosa Parks Street, Cincinnati, OH 45202, is the principal underwriter for all registered index-linked Contracts of the Company. MMALIS is a wholly owned subsidiary of MassMutual Ascend Life and as a result, is an affiliate of the Company. MassMutual Ascend Life pays for some of MMALIS's operating and other expenses, including overhead, legal, and accounting fees.

Aggregate dollar amounts of underwriting commissions paid to MMALIS in connection with the distribution of registered index-linked contracts totaled $69,902,131 in 2024, $69,192,616 in 2023, and $71,068,762 in 2022, which MMALIS subsequently paid to selling firms in its distribution network. MMALIS did not retain any underwriting commissions in the last three fiscal years.

**CONTRACT ADJUSTMENTS** 

**Daily Value Percentage** 

The Daily Value Percentage is used to determine the value of an Indexed Strategy before the end of a Term. The calculation of Strategy value using the Daily Value Percentage is relevant only if amounts allocated to an Indexed Strategy are not held to the end of the Term due to withdrawals, Surrender of the Contract, annuitization, or if a Death Benefit becomes payable, or if you have made a Performance Lock election. The Daily Value Percentage adjustment may be negative and could result in significant loss, even if the Index is performing positively.

Before the final Market Day of a Term, unless you have made a Performance Lock election, the value of an Indexed Strategy is the Investment Base increased or decreased by the Daily Value Percentage as determined as of the most recent Market Close.

If you have made a Performance Lock election, through the remainder of the Term, the value of an Indexed Strategy is the Investment Base increased or decreased by the Daily Value Percentage as determined as of the second Market Close after receipt of the election.

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Here are the formulas that we use to calculate the Strategy value whenever it is based on the Daily Value Percentage:

Strategy value = Investment Base + dollar amount of increase or decrease

Dollar amount of increase or decrease = Investment Base x applicable Daily Value Percentage

Daily Value Percentage = Net Option Price – Residual Option Cost – Trading Cost

**Net Option Price** 

The Net Option Price is one part of the formula used to calculate Daily Value Percentage. The Net Option Price is based on the calculated prices of hypothetical options that represent the projected changes in the Index over the full Term. The hypothetical options taken into account and the formulas used depend on the Negative Return Factors and Positive Return Factors that apply to the Indexed Strategy for the Term. The model we use to price those options is described in the Option Prices section below.

**Net Option Price for Downside Participation Rate with Cap Strategy** 

For a Downside Participation Rate with Cap Strategy, three option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Call Option Price, which represents the possible rise in the Index

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Call Option Price, which is subtracted in order to limit any rise in the Index by the Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Put Option Price, which represents the possible fall in the Index and is multiplied by the Downside
Participation Rate in order to reflect your share in any such fall.

The Net Option Price as of a Market Close is a percentage equal to: (1) the ATM Call Option Price for the Market Close; minus (2) the OTM Call Option Price for the Market Close; and (3) minus the ATM Put Option Price for the Market Close multiplied by the Downside Participation Rate.

It is important to note that the Net Option Price will almost always be less than any rise in the Index because, when we calculate the Net Option Price, we subtract the ATM Put Option Price, and the ATM Put Option Price is always above zero because it is always possible for the value of the Index to fall before the end of the Term.

**Net Option Price for Downside Participation Rate with Upside Participation Rate Strategy** 

For a Downside Participation Rate with Upside Participation Rate Strategy, two option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Call Option Price, which represents the possible rise in the Index and is multiplied by the Upside
Participation Rate in order to reflect your share in any such rise

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Put Option Price, which represents the possible fall in the Index and is multiplied by the Downside
Participation Rate in order to reflect your share in any such fall.

The Net Option Price as of a Market Close is a percentage equal to: (1) the ATM Call Option Price for the Market Close multiplied by the Upside Participation Rate; minus (2) the ATM Put Option Price for the Market Close multiplied by the Downside Participation Rate

It is important to note that the Net Option Price will almost always be less than any rise in the Index because, when we calculate the Net Option Price, we subtract the ATM Put Option Price, and the ATM Put Option Price is always above zero because it is always possible for the value of the Index to fall before the end of the Term.

**Net Option Price for Buffer with Upside Participation Rate Strategy** 

For a Buffer with Upside Participation Rate Strategy, two option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Call Option Price, which represents the possible rise in the Index and is multiplied by the Upside
Participation Rate in order to reflect your share in any such rise

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Put Option Price, which is subtracted and represents the possible fall in the Index but only to the extent
that such fall exceeds the Buffer.

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The Net Option Price as of a Market Close is a percentage equal to: (1) the ATM Call Option Price for the Market Close multiplied by the Upside Participation Rate; minus (2) the OTM Put Option Price for the Market Close

It is important to note that the Net Option Price will almost always be less than any rise in the Index because, when we calculate the Net Option Price, we subtract the OTM Put Option Price, and the OTM Put Option Price is always above zero because it is always possible for the value of due the Index to fall before the end of the Term.

**Net Option Price for a Floor with Cap Strategy** 

For a Floor with Cap Strategy, four option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Call Option Price, which represents the possible rise in the Index

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Call Option Price, which is subtracted in order to limit any rise in the Index by the Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Put Option Price, which is subtracted to represent the possible fall in the Index; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Put Option Price, which is added to limit any fall in the Index to the Floor.

The Net Option Price as of a Market Close is a percentage equal to: (1) the ATM Call Option Price for the Market Close; minus (2) the OTM Call Option Price for the Market Close; minus (3) the ATM Put Option Price for the Market Close; and plus (4) the OTM Put Option Price for the Market Close.

It is important to note that the Net Option Price will almost always be less than any rise in the Index because, when we calculate the Net Option Price, we subtract the amount by which the ATM Put Option Price exceeds the OTM Put Option Price, and the ATM Put Option Price always exceeds the OTM Put Option Price because the ATM Put Option Price represents the constant present potential for a fall in the Index before the end of the Term, while the OTM Put Option Price represents the lesser/included potential for a change in the Index of more than the -10% Floor.

**Net Option Price for Buffer with Cap Strategy** 

For a Buffer with Cap Strategy, three option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Call Option Price, which represents the possible rise in the Index

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Call Option Price, which is subtracted in order to limit any rise in the Index by the Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Put Option Price, which is subtracted and represents the possible fall in the Index but only to the extent
that such fall exceeds the Buffer.

The Net Option Price as of a Market Close is a percentage equal to: (1) the ATM Call Option Price for the Market Close; minus (2) the OTM Call Option Price for the Market Close; and minus (3) the OTM Put Option Price for the Market Close.

It is important to note that the Net Option Price will almost always be less than any rise in the Index because, when we calculate the Net Option Price, we subtract the OTM Put Option Price, and the OTM Put Option Price is always above zero because it is always possible for the value of the Index to fall before the end of the Term.

**Net Option Price for Buffer with Participation Rate & Cap Strategy (Combination Strategy)** 

For a Buffer with Upside Participation Rate & Cap Strategy, three option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Call Option Price, which represents the possible rise in the Index and is multiplied by the Upside
Participation Rate in order to reflect your share in any such rise

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Call Option Price, which is subtracted and represents the possible rise in the Index but only to the extent
that such rise exceeds the Adjusted Cap, and is multiplied by the Upside Participation Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Put Option Price, which is subtracted and represents the possible fall in the Index but only to the extent
that such fall exceeds the Buffer.

The Net Option Price as of a Market Close is a percentage equal to: (1) the ATM Call Option Price for the Market Close multiplied by the Upside Participation Rate; minus (2) the OTM Call Option Price for the Market Close multiplied by the Upside Participation Rate; and minus (3) the OTM Put Option Price for the Market Close.

It is important to note that the Net Option Price will almost always be less than any rise in the Index because, when we calculate the Net Option Price, we subtract the OTM Put Option Price, and the OTM Put Option Price is always above zero because it is always possible for the value of the Index to fall before the end of the Term.

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**Net Option Price for Buffer with Performance Trigger Strategy** 

For a Buffer with Performance Trigger Strategy, two option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ATM Binary Call Option Price, which represents the possibility of a payment equal to the Trigger Rate if the
Index rise will be zero or greater

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Put Option Price, which is subtracted and represents the possible fall in the Index but only to the extent
that such fall exceeds the Buffer.

The Net Option Price as of a Market Close is a percentage equal to: (1) the value of the ATM Binary Call Option calculated for the Market Close; minus (2) the value of the OTM Put Option calculated for the Market Close.

It is important to note that the Net Option Price will almost always be less than the Trigger Rate because, when we calculate the Net Option Price, we subtract the OTM Put Option Price, and the OTM Put Option Price is always above zero because it is always possible for the value of the Index to fall before the end of the Term.

**Net Option Price for Buffer with Dual Performance Trigger Strategy** 

For a Buffer with Dual Performance Trigger Strategy, two option prices are included in the calculation of the Net Option Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ITM Binary Call Option Price, which represents the possibility of a payment equal to the Trigger Rate if the
change in the Index for the Term will be zero, positive, or negative but not exceeding the Buffer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• OTM Put Option Price, which is subtracted and represents the possible fall in the Index but only to the extent
that such fall exceeds the Buffer.

The Net Option Price as of a Market Close is a percentage equal to: (1) the value of the ITM Binary Call Option calculated for the Market Close; minus (2) the value of the OTM Put Option calculated for the Market Close.

It is important to note that the Net Option Price will almost always be less than the Trigger Rate because, when we calculate the Net Option Price, we subtract the OTM Put Option Price, and the OTM Put Option Price is always above zero because it is always possible for a fall in the value of the Index to exceed the Buffer before the end of the Term.

**Residual Option Cost** 

The Residual Option Cost is one part of the formula used to calculate Daily Value Percentage. The Residual Option Cost starts with the Net Option Price at the beginning of a Term, which is calculated using the formulas set out above. That Net Option Price is then multiplied by the time remaining in the Term as a percentage of the length of the Term.

The Residual Option Cost as of a Market Close is a percentage equal to: (1) the Net Option Price for the Strategy at the beginning of the Term; multiplied by (2) the number of days remaining until the final Market Close of the Term divided by 365 for a one-year Term, by 1,096 days if that Term is three years long, or by 2,192 days for a six-year Term.

**Trading Cost** 

The Trading Cost is one part of the formula used to calculate Daily Value Percentage. The Trading Cost as of a Market Close is the estimated cost of selling the hypothetical options before the end of a Term to the extent not already reflected in the option values. It is a percentage that reflects the average market difference between option average bid-ask prices and option bid prices. We may change the Trading Cost at any time due to changes in option prices.

**Daily Value Percentage Examples** 

*Examples*. Here are four examples that show how the Daily Value Percentage formula works for Indexed Strategies with a 1-year Term. In each example, we calculate the Daily Value Percentage for the Market Close on day 90 of a one-year Term. Before the end of a Term, the Strategy value determined using the Daily Value Percentage will almost always be less than the value suggested on that date by the rise or fall of the Index and the end of Term calculation method.

**Assumptions for Examples 1-4** 

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| | | |
|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as a<br>Percentage of<br>Index at Start of<br>Term)* | *Price at Current<br>Market Close (as a<br>Percentage of Index<br>at Start of Term)* |
|  ATM Call Option Price | 6.00% | 7.47% |
|  OTM Call Option Price | 1.15% | 1.81% |
|  ATM Put Option Price | 5.40% | 3.36% |
|  OTM Put Option Price | 4.50% | 2.80% |

---

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| | | | |
|:---|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as a<br>Percentage<br>of Index at Start<br>of Term)* | *Price at Current<br>Market Close (as a<br>Percentage of Index<br>at Start of Term)* |  |
|  Strategy Assumptions Investment Base for each Strategy (after taking Daily Charges into account) |  |  | $100000 |
|  Cap |  |  | 11% |
|  Upside Participation Rate |  |  | 75% |
|  Days remaining to last Market Day of Term |  |  | 275 |
|  Trading Cost Assumption | 0.15% |  |  |
|  Index at Start of Term |  |  | 1000 |
|  Index at Current Market Close |  |  | 1040 |

---

**Example 1: 50% Downside Participation Rate with Cap Strategy** 

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| | | | |
|:---|:---|:---|:---|
|  Current ATM Call Option Price – Current OTM Call Option Price | 5.66% |  | (7.47% – 1.81%) |
|  Current ATM Put Option Price x Downside Participation Rate | – 1.68% |  | (50% of 3.36%) |
|  ***Net Option Price*** | = 3.98% |  |  |
|  Initial ATM Call Option Price – Initial OTM Call Option Price | 4.85% |  | (6.00% – 1.15%) |
|  Initial ATM Put Option Price x Downside Participation Rate | – 2.70% |  | (50% of 5.40%) |
|  Net Option Price | = 2.15% |  |  |
|  Amortization Factor for days remaining to final Market Day of Term | x75.34% |  | (275 / 365) |
|  ***Residual Option Cost*** | = 1.62% |  |  |
|  Net Option Price | 3.98% |  |  |
|  Residual Option Cost | – 1.62% |  |  |
|  Assumed Trading Cost | – 0.15% |  |  |
|  ***Daily Value Percentage*** | = 2.21% |  |  |
|  Dollar amount of increase | $2210 | ($| 100,000 x 2.21%) |
|  Value of 50% Downside Participation Rate with Cap Strategy | $102210 | ($| 100,000 + $2,210) |

---

In the above example, the Strategy value has increased by 2.21% by day 90 even though the Index has increased by 4% (1000 to 1040) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a term.

By comparison, if the value of the Strategy on day 90 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect the full 4% increase in the Index ($100,000 + ($100,000 x 4% increase percentage) = $104,000) because the increase does not exceed the 11% Cap. **We will always calculate the Strategy value before the end of a Term using the Daily Value Percentage illustrated by the above example and not based on the rise or fall of the Index.**

**Example 2: 50% Downside Participation Rate with Upside Participation Rate Strategy** 

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| | | |
|:---|:---|:---|
|  Current ATM Call Option Price x Upside Participation Rate | 5.60% | (75% of 7.47%) |
|  Current ATM Put Option Price x Downside Participation Rate | – 1.68% | (50% of 3.36%) |
|  ***Net Option Price*** | = 3.92% |  |
|  Initial ATM Call Option Price x Upside Participation Rate | 4.50% | (75% of 6.00%) |
|  Initial ATM Put Option Price x Downside Participation Rate | – 2.70% | (50% of 5.40%) |
|  Net Option Price | = 1.80% |  |
|  Amortization Factor for days remaining to final Market Day of Term | x75.34% | (275 / 365) |
|  ***Residual Option Cost*** | 1.36% |  |
|  Net Option Price | 3.92% |  |
|  Residual Option Cost | –1.36% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Daily Value Percentage*** | = 2.41% |  |
|  Increase as a dollar amount | $2410 | ($100,000 x 2.41%) |
|  Value of 50% Downside Participation Rate with Upside Participation Rate Strategy | $102410 | ($100,000 + $2,410) |

---

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In the above example, the Strategy value has increased by 2.41% by day 90 even though the Index has increased by 4% (1000 to 1040) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a term.

By comparison, if the value of the Strategy on day 90 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect 75% of the 4% increase in the Index ($100,000 + ($100,000 x 3% increase percentage) = $103,000). **We will always calculate the Strategy value before the end of a Term using the Daily Value Percentage illustrated by the above example and not based on the rise or fall of the Index.**

**Example 3: 10% Buffer with Cap Strategy** 

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| | | |
|:---|:---|:---|
|  Current ATM Call Option Price – Current OTM Call Option Price | 5.66% | (7.47% -1.81%) |
|  Current OTM Put Option Price | – 2.80% |  |
|  ***Net Option Price*** | = 2.86% |  |
|  Initial ATM Call Option Price – Initial OTM Call Option Price | 4.85% | (6.00% -1.15%) |
|  Initial OTM Put Option Price | – 4.50% |  |
|  Net Option Price | = 0.35% |  |
|  Amortization Factor for days remaining to final Market Day of Term | x75.34% | (275 / 365) |
|  ***Residual Option Cost*** | 0.26% |  |
|  Net Option Price | 2.86% |  |
|  Residual Option Cost | – 0.26% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Daily Value Percentage*** | = 2.45% |  |
|  Increase as a dollar amount | $2450 | ($100,000 x 2.45%) |
|  Value of 10% Buffer with Cap Strategy | $102450 | ($100,000 + $2,450) |

---

In the above example, the Strategy value has increased by 2.45% by day 90 even though the Index has increased by 4% (1000 to 1040) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a Term.

By comparison, if the value of the Strategy on day 90 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect the full 4% increase in the Index ($100,000 + ($100,000 x 4% increase percentage) = $104,000) because the increase does not exceed the 11% Cap. **We will always calculate the Strategy value before the end of a Term using the Daily Value Percentage illustrated by the above example and not based on the rise or fall of the Index.**

**Example 4: -10% Floor with Cap Strategy** 

---

| | | |
|:---|:---|:---|
|  Current ATM Call Option Price – Current OTM Call Option Price | 5.66% | (7.47% – 1.81%) |
|  (Current ATM Put Option Price – Current OTM Put Option Price) | – 0.56% | (3.36% – 2.80%) |
|  ***Net Option Price*** | = 5.10% |  |
|  Initial ATM Call Option Price – Initial OTM Call Option Price | 4.85% | (6.00% – 1.15%) |
|  - (Initial ATM Put Option Price – Initial OTM Put Option Price) | – 0.90% | (5.40% – 4.50%) |
|  Net Option Price | = 3.95% |  |
|  X Amortization Factor for days remaining to final Market Day of Term | x75.34% | (275 /365) |
|  ***Residual Option Cost*** | = 2.98% |  |
|  Net Option Price | 5.10% |  |
|  Residual Option Cost | – 2.98% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Daily Value Percentage*** | = 1.97% |  |
|  Dollar amount of increase | $1970 | ($100,000 x 1.970%) |
|  Value of -10% Floor with Cap Strategy | $101970 | ($100,000 + $1,970) |

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------

In the above example, the Strategy value increased by 1.97% by day 90 even though the Index has increased by 4% (1000 to 1040) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a Term.

By comparison, if the value of the Strategy on day 90 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect the full 4% increase in the index ($100,000 + ($100,000 x 4% increase percentage) = $104,000) because the increase does not exceed the 11% Cap. **We will always calculate the Strategy value before the end of a Term using the Daily Value Percentage illustrated by the above example and not based on the rise or fall of the Index.**

*Examples*. Here is an example that shows how the Daily Value Percentage formula works with a six-year 10% Buffer with Upside Participation Rate Strategy. In this example, we calculate the Daily Value Percentage for the Market Close on day 2010 of a six-year Term. Before the end of a Term, the Strategy value determined using the Daily Value Percentage will almost always be less than the value suggested on that date by the rise or fall of the Index and the end of Term calculation method.

**Assumptions for Example 5** 

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| | | | | |
|:---|:---|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as a<br>Percentage of<br>Index at Start of<br>Term)* | *Price at Current<br>Market Close (as a<br>Percentage of Index<br>at Start of Term)* |  |  |
|  ATM Call Option Price | 20.59% | 18.04% |  |  |
|  OTM Put Option Price | 15.47% | 16.35% |  |  |
|  Strategy Assumptions |  |  |  |  |
|  Investment Base for each Strategy (after taking Daily Charges into account) |  |  | $100000 |  |
|  Upside Participation Rate for six-year Term |  |  | 130% |  |
|  Days remaining to last Market Day of six-year Term |  |  | 182 |  |
|  Trading Cost Assumption | 2.03% |  |  |  |
|  Index at Start of Term | Index at Start of Term | Index at Start of Term | Index at Start of Term | 1000 |
|  Index at Current Market Close | Index at Current Market Close | Index at Current Market Close | Index at Current Market Close | 1200 |

---

**Example 5: 10% Buffer with Upside Participation Rate Strategy** 

---

| | | | |
|:---|:---|:---|:---|
|  Current ATM Call Option Price x Upside Participation Rate | 23.45% |  | (130% of 18.04%) |
|  Current OTM Put Option Price | – 16.35% |  |  |
|  ***Net Option Price*** | = 7.10% |  |  |
|  Initial ATM Call Option Price x Upside Participation Rate | 26.77% |  | (130% of 20.59%) |
|  Initial OTM Put Option Price | – 15.47% |  |  |
|  Net Option Price | = 11.30% |  |  |
|  Amortization Factor for days remaining to final Market Day of Term | x8.30% |  | (182 / 2192) |
|  ***Residual Option Cost*** | 0.94% |  |  |
|  Net Option Price | 7.10% |  |  |
|  Residual Option Cost | – 0.94% |  |  |
|  Assumed Trading Cost | – 2.03% |  |  |
|  ***Daily Value Percentage*** | = 4.13% |  |  |
|  Increase as a dollar amount | $4130 | ($| 100,000 x 4.13%) |
|  Value of 10% Buffer with Upside Participation Rate Strategy | $104130 | ($| 100,000 + $4,130) |

---

In the above example, the Strategy value increased by 4.13% by day 2,010 even though the Index has increased by 20% (1000 to 1200) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a Term.

By comparison, if the value of the Strategy on day 2,010 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect 130% of the 20% increase in the Index ($100,000 + ($100,000 x 26% increase percentage) = $126,000). **We will always calculate the Strategy value before the end of a Term using the Daily Value Percentage illustrated by the above example and not by the rise or fall of the Index.**

*Examples*. Here is an example that shows how the Daily Value Percentage formula works with a six-year 10% Buffer with Upside Participation Rate & Cap Strategy. In this example, we calculate the Daily Value Percentage for the Market Close on day 2010 of a six-year Term. Before the end of a Term, the Strategy value determined using the Daily Value Percentage will almost always be less than the value suggested on that date by the rise or fall of the Index and the end of Term calculation method.

------

**Assumptions for Example 6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as a<br>Percentage of<br>Index at Start of<br>Term)* | *Price at Current<br>Market Close (as a<br>Percentage of Index<br>at Start of Term)* |  |  |
|  ATM Call Option Price | 25.18% | 81.40% |  |  |
|  OTM Call Option Price | 4.69 | 9.35% |  |  |
|  OTM Put Option Price | 4.44% | 0.00% |  |  |
|  Strategy Assumptions |  |  |  |  |
|  Investment Base for each Strategy (after taking Daily Charges into account) |  |  | $100000 |  |
|  Upside Participation Rate for six-year Term |  |  | 110% |  |
|  Cap for six-year Term |  |  | 90% |  |
|  Days remaining to last Market Day of six-year Term |  |  | 182 |  |
|  Trading Cost Assumption | 1.00% |  |  |  |
|  Index at Start of Term | Index at Start of Term | Index at Start of Term | Index at Start of Term | 1000 |
|  Index at Current Market Close | Index at Current Market Close | Index at Current Market Close | Index at Current Market Close | 1800 |

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**Example 6: 10% Buffer with Upside Participation Rate & Cap Strategy** 

---

| | | |
|:---|:---|:---|
|  Current ATM Call Option Price x Upside Participation Rate | 89.54% | (110% of 81.40%) |
|  Current OTM Call Option Price x Upside Participation Rate | – 10.29% | (110% of 9.35%) |
|  Current OTM Put Option Price | – 0.00% |  |
|  ***Net Option Price*** | = 79.25% |  |
|  Initial ATM Call Option Price x Upside Participation Rate | 27.70% | (110% of 25.18%) |
|  Initial OTM Call Option Price x Upside Participation Rate | -5.16% | (110% of 4.68%) |
|  Initial OTM Put Option Price | – 4.44% |  |
|  Net Option Price | = 18.10% |  |
|  Amortization Factor for days remaining to final Market Day of Term | x8.30% | (182 / 2192) |
|  ***Residual Option Cost*** | 1.50% |  |
|  Net Option Price | 79.25% |  |
|  Residual Option Cost | –1.50% |  |
|  Assumed Trading Cost | – 1.00% |  |
|  ***Daily Value Percentage*** | = 76.75% |  |
|  Increase as a dollar amount | $76750 | ($100,000 x 76.75%) |
|  Value of 10% Buffer with Upside Participation Rate Strategy | $176750 | ($100,000 + $76,750) |

---

In the above example, the Strategy value increased by 76.75% by day 2,010 even though the Index has increased by 80% (1000 to 1800) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a Term.

By comparison, if the value of the Strategy on day 2,010 of the Term were to be determined based on the end of Term value calculation method, the Strategy value would reflect 110% of the 80% increase in the Index or 88%, which is less than the 90% Cap. The calculation would have been: $100,000 + ($100,000 x 110% x 80% increase percentage) = $188,000. **We will always calculate the Strategy value before the end of a Term using the Daily Value Percentage illustrated by the above example and not by the rise or fall of the Index.**

*Examples*. Here is an example that shows how the Daily Value Percentage formula works with a 10% Buffer with Performance Trigger Strategy. In this example, we calculate the Daily Value Percentage for the Market Close on day 146 of a one-year Term. Before the end of a Term, the Strategy value determined using the Daily Value Percentage will almost always be less than the value suggested on that date by the rise or fall of the Index and the end of Term calculation method.

------

**Assumptions for Example 7** 

---

| | | | |
|:---|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as a<br>Percentage of<br>Index at Start of<br>Term)* | *Price at Current<br>Market Close (as a<br>Percentage of Index<br>at Start of Term)* |  |
|  ATM Binary Call Option Price | 5.97% | 2.61% |  |
|  OTM Put Option Price | 1.48% | 3.40% |  |
|  Strategy Assumptions |  |  |  |
|  Investment Base for each Strategy (after taking Daily Charges into account) |  |  | $100000 |
|  Trigger Rate |  |  | 11% |
|  Days remaining to last Market Day of Term |  |  | 219 |
|  Trading Cost Assumption | 0.15% |  |  |
|  Index at Start of Term | 1000 |  |  |
|  Index at Current Market Close | 900 |  |  |

---

**Example 7: 10% Buffer with Performance Trigger Strategy** 

---

| | | | |
|:---|:---|:---|:---|
|  Current ATM Binary Call Option Price | 2.61% |  |  |
|  Current OTM Put Option Price | – 3.40% |  |  |
|  **Net Option Price** | =-0.79% |  |  |
|  Initial ATM Binary Call Option Price | 5.97% |  |  |
|  Initial OTM Put Option Price | – 1.48% |  |  |
|  Net Option Price | = 4.49% |  |  |
|  Amortization Factor for days remaining to final Market Day of Term | X60% |  |  |
|  **Residual Option Cost** | 2.69% |  |  |
|  Net Option Price | -0.79% |  |  |
|  Residual Option Cost | – 2.69% |  |  |
|  Assumed Trading Cost | – 0.15% |  |  |
|  **Daily Value Percentage** | = -3.63% |  |  |
|  Increase as a dollar amount | 3630 | ($| 100,000 x (-3.63%)) |
|  Value of 10% Buffer with Performance Trigger Strategy | $96370 |  | ($100000 -$3630) |

---

In the above example, the Strategy value decreased by 3.63% by day 146 while the Index has decreased by 10% (1000 to 900) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a Term.

By comparison, if the value of the Strategy on day 146 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect a decrease of 0% since the entire 10% decrease in the index is protected by the 10% Buffer. **We will always calculate the Strategy value before the end of a term using the Daily Value Percentage illustrated by the above example and not by the rise or fall of the Index.**

*Example*. Here is an example that shows how the Daily Value Percentage formula works with a 10% Buffer with Dual Performance Trigger Strategy. In this example, we calculate the Daily Value Percentage for the Market Close on day 146 of a one-year Term. Before the end of a Term, the Strategy value determined using the Daily Value Percentage will almost always be less than the value suggested on that date by the rise or fall of the Index and the end of Term calculation method.

------

**Assumptions for Example 8** 

---

| | | | |
|:---|:---|:---|:---|
| *Option Price Assumptions* | *Price at Start<br>of Term (as a<br>Percentage of<br>Index at Start of<br>Term)* | *Price at Current<br>Market Close (as a<br>Percentage of Index<br>at Start of Term)* |  |
|  ITM Binary Call Option Price | 6.03% | 4.31% |  |
|  OTM Put Option Price | 1.48% | 3.40% |  |
|  Strategy Assumptions |  |  |  |
|  Investment Base for each Strategy (after taking Daily Charges into account) |  |  | $100000 |
|  Trigger Rate |  |  | 8% |
|  Days remaining to last Market Day of Term |  |  | 219 |
|  Trading Cost Assumption | 0.15% |  |  |
|  Index at Start of Term | 1000 |  |  |
|  Index at Current Market Close | 900 |  |  |

---

**Example 8: 10% Buffer with Dual Performance Trigger Strategy** 

---

| | | |
|:---|:---|:---|
|  Current ITM Binary Call Option Price | 4.31% |  |
|  Current OTM Put Option Price | – 3.40% |  |
|  ***Net Option Price*** | = 0.91% |  |
|  Initial ITM Binary Call Option Price | 6.03% |  |
|  Initial OTM Put Option Price | – 1.48% |  |
|  Net Option Price | =4.55% |  |
|  Amortization Factor for days remaining to final Market Day of Term | x60% |  |
|  ***Residual Option Cost*** | 2.73% |  |
|  Net Option Price | 0.91% |  |
|  Residual Option Cost | –2.73% |  |
|  Assumed Trading Cost | – 0.15% |  |
|  ***Daily Value Percentage*** | = -1.97% |  |
|  Increase as a dollar amount | 1970 | ($100,000 x (-1.97%)) |
|  Value of 10% Buffer with Dual Performance Trigger Strategy | $98030 | ($100000 - $1970) |

---

In the above example, the Strategy value decreased by 1.97% by day 146 while the Index value has decreased by 10% (1000 to 900) over the same period. This reflects the impact of the method we use to calculate a Strategy value before the end of a Term.

By comparison, if the value of the Strategy on day 146 of the Term were to be determined based the end of Term value calculation method, the Strategy value would reflect an increase of 8% matching the Trigger Rate ($100,000 + ($100,000 x 8% increase percentage) = $108,000). This is because the decrease in the Index was not more negative than the 10% Buffer. **We will always calculate the Strategy value before the end of a term using the Daily Value Percentage illustrated by the above example and not by the rise or fall of the Index.**

**Maximum Loss Before the End of a Term** 

If you Surrender your Contract or take a withdrawal before the end of a Term, there is no set maximum loss because the Indexed Strategy value is determined using the Daily Value Percentage. The loss on a Floor Strategy may exceed the Floor, the loss on a Downside Participation Rate Strategy may exceed the 50% Downside Participation Rate, a 10% Buffer Strategy may not receive the benefit of the 10% Buffer, a 20% Buffer Strategy may not receive the benefit of the 20% Buffer, because the use of the Daily Value Percentage means that the Residual Option Cost and Trading Cost are subtracted from the Strategy value. The Residual Option Cost and Trading Cost are determined each time the Daily Value Percentage is calculated. **As a result, in extreme circumstances, the total loss for an Indexed Strategy could be 100% through the application of the Daily Value Percentage meaning that you would suffer a complete loss of your principal and any prior earnings.**

------

**Option Prices** 

In order to calculate the Daily Value Percentage of an Indexed Strategy, we determine the prices of the hypothetical options using a valuation model. The price of each option is stated as a percentage of the Index for the last Market Close on or before the first day of the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **ATM Binary Call Option Price (at-the-money binary call option)** 

The ATM Binary Call Option Price is the calculated price of a hypothetical at-the-money binary call option (or collection of options) that will pay the holder an amount equal to the Trigger Rate multiplied by the Investment Base if the change in the Index for the Term is zero or is positive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **ATM Call Option Price (at-the-money call option)** 

The ATM Call Option Price is the calculated price of a hypothetical call option that will pay the holder an amount equal to the percentage rise, if any, in the Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **ATM Put Option Price (at-the-money put option)** 

The ATM Put Option Price is the calculated price of a hypothetical put option that will pay the holder an amount equal to the percentage fall, if any, in the Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **ITM Binary Call Option Price (in-the-money binary call option)** 

The ITM Binary Call Option Price is the calculated price of a hypothetical in-the-money binary call option (or collection of options) that will pay the holder an amount equal to the Trigger Rate multiplied by the Investment Base if the change in the Index for the Term is zero, is positive, or is negative but does not exceed the Buffer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **OTM Call Option Price (out-of-the-money call option)** 

The OTM Call Option Price is the calculated price of a hypothetical call option that will pay the holder an amount equal to the percentage rise, if any, in the Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent it exceeds the Cap (or for a Combination Strategy, the Adjusted Cap) for the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **OTM Put Option Price (out-of-the-money put option)** 

The OTM Put Option Price is the calculated price of a hypothetical put option that will pay the holder an amount equal to the percentage fall, if any, in the Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent it exceeds the Buffer or Floor for the Term.

**Valuation Model** 

We use a mathematical model to calculate the price of the hypothetical options in our formulas because direct prices of comparable options are generally not available. Options in the marketplace do not directly align with (1) the time remaining in a Term and (2) the strike prices for any of the hypothetical options used in the calculation of the Daily Value Percentage.

Valuation models are widely used for option pricing and the model we use is based on standard methods for valuing derivatives. The methodology used to value these options is determined solely by us and the results of our valuation model may vary, higher or lower, from other estimated valuations or the actual selling price of identical derivatives. Any variance between our valuations and other estimated or actual prices may be different from Indexed Strategy to Indexed Strategy and may also change from day to day. Our valuation model calculates the theoretical price of options using the following inputs: Index levels or prices, expected dividend yield, option strike prices, expected interest rates, time, and implied volatility of option prices. Below is a brief explanation of those model inputs, which we receive from third party vendors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **Index Levels or Prices** 

The initial Index level or price for a Term is the Index provided to us for the last Market Close on or before the first day of the Term. The current Index level or price is the Index provided to us for the most recent Market Close. We rely on third parties, such as Index providers and financial reporting vendors, to provide us with the current Index level or price for the most recent Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **Dividend Yield (Div)** 

Dividend Yield is the dividend yield to the end of the Term as of a calculation date where the dividend yield is (1) interpolated from yields or (2) implied from market data as reported by Bloomberg or another market source.

For the S&P 500 Index, the dividend yield will reduce the Index level and the applicable call option prices.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **Strike Price (K)** 

Strike Price is a value that varies for each type of option.

ATM binary call option strike price = Index at the start of the Term

ATM call option strike price = Index at the start of the Term

ATM put option strike price = Index at the start of the Term

ITM binary call option strike price = Index at the start of the Term multiplied by (1 – Buffer). [For example, for a 10% Buffer Strategy, the ITM binary call option strike price is equal to the Index at the start of the Term multiplied by 1- .10, or .90]

OTM call option strike price = Index at the start of the Term multiplied by (1 + Cap). [For example, if the Cap is 8%, the OTM call option strike price is equal to the Index at the start of the Term multiplied by 1 + .08, or 1.08].

OTM put option strike price = Index at the start of the Term multiplied by (1 – Buffer) for a Buffer Strategy or (1 + Floor) for a Floor Strategy. [For example, for a 10% Buffer Strategy, the OTM put option strike price is equal to the Index at the start of the Term multiplied by 1- .10, or .90; for a -10% Floor Strategy, the OTM put option strike price is equal to the Index at the start of the Term multiplied by 1 + -.10, or 0.90]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **Interest Rate (Rate)** 

Interest Rate is a rate based on key derivative interest rates obtained from information provided by Bloomberg or another market source. These interest rates are obtained for maturities adjacent to the actual time remaining in the Term on the calculation date. We use interpolation to derive the rate used as our input for the model.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **Time (T)** 

Time is the portion of the Term that remains as measured by the following formula.

Time = number of calendar days from calculation date to end of Term / number of calendar days in Term

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **Implied Volatility (Vol)** 

Volatility is the implied volatility of option prices. It is approximated daily using observed option prices as reported by Bloomberg or another market source. For each hypothetical option included in the calculation, we approximate the volatility of option prices by interpolating between (1) implied volatilities for similar options with the closest available time remaining and (2) strike prices.

Implied volatility varies with (1) how much time remains until the end of a Term, which is determined by using an expiration date for the designated option that corresponds to that time remaining and (2) the relationship between the strike price of that option and the value of the Index at the time of the calculation. This relationship is referred to as the "moneyness" of the option described above, and is calculated as the ratio of current price to strike price.

Direct market data for these inputs is generally not available because options on an Index that actually trade in the market have (1) specific maturity dates that are unlikely to precisely match the end date of a Term and (2) moneyness values that are unlikely to precisely match the moneyness of the designated option that we use in our calculations. Accordingly, we interpolate between the implied volatility quotes that are based on the actual maturities and moneyness values.

**FINANCIAL STATEMENTS** 

The Company's financial statements at December 31, 2024 and 2023, and for each of the three years in the period ended December 31, 2024, will be filed by amendment. Our financial statements should be considered only as bearing on our ability to meet our obligations under the Contract.

------

**PART C — OTHER INFORMATION** 

**<u>Item 27. Exhibits</u>** 

---

| | |
|:---|:---|
| (a) | Board of Directors Resolution - Not applicable. |
| (b) | Custodian Agreements – Not applicable. |
| (c) | [Principal Underwriting Agreement between Great American Life Insurance Company and Great American Advisors, Inc. effective as of February 2, 2018 is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of Great American Life Insurance Company on April 24, 2018. 1933 Act File No 333-207914](http://www.sec.gov/Archives/edgar/data/723258/000104204618000023/galicposam42017-ex1.htm). |
|  (d)(1) | Contracts |
|  | (A) [Index Summit 6 Pro Individual Deferred Annuity Contract (Form No. P1833621NW) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4a1.htm). |
|  | (B) [Strategy Reallocation Endorsement (Form No. E1848723NW) is incorporated by reference to Pre-Effective Amendment No. 1 filed on behalf of MassMutual Ascend Life Insurance Company on April 21, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523110715/d463873dex4a2.htm). |
|  | (C) [Index Summit 6 Pro Individual Deferred Annuity Contract (Form No. ICC24-P1833624NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d1c.htm). |
|  (d)(2) | Tax Endorsements |
|  | (A) [Inherited Contract Endorsement (Form No. E1091612NW) (Non-Qualified Plans) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b1.htm). |
|  | (B) [Individual Retirement Annuity Endorsement (Form No. E6004010NW) (IRA/SEP IRA) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b2.htm). |
|  | (C) [Roth Individual Retirement Annuity Endorsement (Form No. E6004108NW) (Roth IRA) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b3.htm). |
|  | (D) [Savings Incentive Match Plan for Employees Individual Retirement Annuity Endorsement (Form No. E6004202NW) (SIMPLE IRA) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b4.htm). |
|  | (E) [Individual Retirement Annuity Endorsement for Inherited IRA (Form No. E6014420NW) (Inherited IRA) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b5.htm). |
|  | (F) [Governmental Section 457 Plan Endorsement (Form No. E6004505NW) (Section 457 (Traditional & Roth) Governmental Plan) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b6.htm). |

---

Part C – Page 1

------

---

| |
|:---|
| (G) [Tax Sheltered Annuity Endorsement (Form No. E6004308NW) (Employer Plan TSA/TSA 403(B)/Roth 403(B)) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b7.htm). |
| (H) [Qualified Pension, Profit Sharing and Annuity Plan Endorsement (Form No. E6004405NW) (401(A), Pension or Profit Sharing) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b8.htm). |
| (I) [Employer Plan Endorsement (EPLAN Rev. 2/98)-1 (For use with E6004308NW Employer Plan TSA/Roth 403(B), E6004405NW 401(A), Pension or Profit Sharing and E6004505NW Section 457 (Traditional & Roth) Governmental Plan) is incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex4b9.htm). |
| (J) [Inherited Contract Endorsement (Form No. ICC18-E1091612NW) (Non-Qualified Plans) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2j.htm). |
| (K) [Individual Retirement Annuity Endorsement (Form No. ICC18-E6004010NW) (IRA/SEP IRA) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2k.htm). |
| (L) [Roth Individual Retirement Annuity Endorsement (Form No. ICC10-E6004108NW) (Roth IRA) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2l.htm). |
| (M) [Savings Incentive Match Plan for Employees Individual Retirement Annuity Endorsement (Form No. ICC10-E6004202NW) (SIMPLE IRA) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2m.htm). |
| (N) [Individual Retirement Annuity Endorsement for Inherited IRA (Form No. ICC20-E6014420NW) (Inherited IRA) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2n.htm). |
| (O) [Governmental Section 457 Plan Endorsement (Form No. ICC10-E6004505NW) (Section 457 (Traditional & Roth) Governmental Plan) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2o.htm). |
| (P) [Tax Sheltered Annuity Endorsement (Form No. ICC10-E6004308NW) (Employer Plan TSA/TSA 403(B)/Roth 403(B)) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2p.htm). |
| (Q) [Qualified Pension, Profit Sharing and Annuity Plan Endorsement (Form No. ICC18-E6004405NW) (401(A), Pension or Profit Sharing) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2q.htm). |
| (R) [Employer Plan Endorsement (Form No. ICC10-EPLAN98) (For use with ICC10-E6004308NW Employer Plan TSA/Roth 403(B), ICC18-E6004405NW 401(A), Pension or Profit Sharing and ICC10-E6004505NW Section 457 (Traditional & Roth) Governmental Plan) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d2r.htm). |

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Part C – Page 2

------

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| | |
|:---|:---|
|  (d)(3) | Strategy Endorsements |
|  | (A) [S&P 500 1-Year Growth with Cap Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a Participation Rate for Each Term (Form No. E1825418NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c1.htm). |
|  | (B) [S&P 500 2-Year Growth with Cap Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a Participation Rate for Each Term (Form No. E1825518NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c2.htm). |
|  | (C) [S&P 500 1-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1825618NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c3.htm). |
|  | (D) [S&P 500 2-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1825718NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c4.htm). |
|  | (E) [S&P 500 1-Year 10% Buffer Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a 10% Buffer for Each Term (Form No. E1842022NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c5.htm). |
|  | (F) [S&P 500 1-year -10% Floor Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a -10% Floor for Each Term (Form No. E1850022NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c6.htm). |
|  | (G) [S&P 500 1-year 0% Floor Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a 0% Floor for Each Term (Form No. E1850122NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c7.htm). |
|  | (H) [iShares MSCI EAFE ETF 1-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1825818NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c8.htm). |
|  | (I) [iShares MSCI EAFE ETF 2-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1825918NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c9.htm). |
|  | (J) [iShares MSCI EAFE ETF 1-Year -10% Floor with Cap Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a -10% Floor for Each Term (Form No. E1850622NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c10.htm). |

---

Part C – Page 3

------

---

| |
|:---|
| (K) [iShares U.S. Real Estate ETF 1-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1826018NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c11.htm). |
| (L) [iShares U.S. Real Estate ETF 2-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1826118NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c12.htm). |
| (M) [iShares U.S. Real Estate ETF 1-Year -10% Floor with Cap Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a -10% Floor for Each Term (Form No. E1850622NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c13.htm). |
| (N) [SPDR Gold Shares ETF 1-Year -10% Floor with Cap Indexed Strategy - Crediting Strategy Endorsement - Index Gain Subject to a Cap for Each Term - Index Loss Subject to a -10% Floor for Each Term (Form No. E1850522NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c14.htm). |
| (O) [Guaranteed Death Benefit Endorsement (Form No. E1826318NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c15.htm). |
| (P) [S&P 500 6-Year Growth with Participation Rate Indexed Strategy - Crediting Strategy Endorsement - Index Gain and Loss Subject to a Participation Rate for Each Term (Form No. E1843222NW) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c16.htm). |
| (Q) [First Trust Barclays Edge 1-Year 10% Buffer with Participation Rate Indexed Strategy – Index Gain Subject to a Participation Rate for Each Term – Index Loss Subject to a 10% Buffer for Each Term (Form No. E1849122) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c17.htm). |
| (R) [First Trust Barclays Edge 1-Year Participation Rate Indexed Strategy – Index Gain Subject to a Participation Rate for Each Term – Index Loss Subject to a 50% Downside Participation Rate for Each Term (Form No. E1849222) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523122448/d463873dex4c18.htm). |
| (S) [S&P 500 1-Year 10% Buffer with Performance Trigger Indexed Strategy – Index Loss Subject to a 10% Buffer for Each Term – Trigger Rate Credited for Each Term with No Index Loss (Form No. E1856423NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c19.htm). |
| (T) [S&P 500 1-Year 20% Buffer with Performance Trigger Indexed Strategy – Index Loss Subject to a 20% Buffer for Each Term – Trigger Rate Credited for Each Term with No Index Loss (Form No. E1856523NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c20.htm). |
| (U) [S&P 500 1-Year 10% Buffer with Dual Direction Trigger Indexed Strategy – Index Loss Subject to a 10% Buffer for Each Term – Trigger Rate Credited for Each Term if Index Gain or Index Loss within 10% Buffer (Form No. E1856623NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c21.htm). |

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Part C – Page 4

------

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| |
|:---|
| (V) [S&P 500 1-Year 20% Buffer with Cap Indexed Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to a Cap for Each Term (Form No. E1856723NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c22.htm). |
| (W) [S&P 500 3-Year 10% Buffer with Upside Participation Rate Indexed Strategy – Index Loss Subject to a 10% Buffer for Each Term – Index Gain Subject to an Upside Participation Rate for Each Term (Form No. E1856823NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c23.htm). |
| (X) [S&P 500 3-Year 20% Buffer with Upside Participation Rate Indexed Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to an Upside Participation Rate for Each Term (Form No. E1856923NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c24.htm). |
| (Y) [S&P 500 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to an Upside Participation Rate for Each Term (Form No. E1857223NW-1) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c25.htm). |
| (Z) [Russell 2000 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to an Upside Participation Rate for Each Term (Form No. E1857423NW) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c26.htm). |
| (AA) [Russell 2000 6-Year 10% Buffer with Upside Participation Rate Indexed Strategy – Index Loss Subject to a 10% Buffer for Each Term – Index Gain Subject to an Upside Participation Rate for Each Term (Form No. E1857323NW) filed on behalf of MassMutual Ascend Life Insurance Company on April 26, 2024. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312524116821/d830514dex4c27.htm). |
| (BB) [S&P 500 1-Year 0% Floor with Cap Indexed Strategy - Index Loss Subject to a 0% Floor for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1850124NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3cc.htm). |
| (CC) [S&P 500 1-Year -10% Floor with Cap Indexed Strategy - Index Loss Subject to a -10% Floor for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1850024NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3dd.htm). |
| (DD) [S&P 500 1-Year 10% Buffer with Cap Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1849924NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ee.htm). |
| (EE) [S&P 500 1-Year 10% Buffer with Performance Trigger Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Performance Trigger for Each Term (Form No. ICC24-E1856424NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ff.htm). |
| (FF) [S&P 500 1-Year 10% Buffer with Dual Performance Trigger Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Dual Performance Trigger for Each Term (Form No. ICC24-E1856624NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3gg.htm). |

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Part C – Page 5

------

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| |
|:---|
| (GG) [S&P 500 1-Year 20% Buffer with Cap Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1856724NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3hh.htm). |
| (HH) [S&P 500 1-Year 20% Buffer with Performance Trigger Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Performance Trigger for Each Term (Form No. ICC24-E1856524NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ii.htm). |
| (II) [S&P 500 1-Year 50% Downside Participation Rate with Cap Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1849424NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3jj.htm). |
| (JJ) [S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1849624NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3kk.htm). |
| (KK) [S&P 500 2-Year 50% Downside Participation Rate with Cap Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1849724NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ll.htm). |
| (LL) [S&P 500 2-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1849524NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3mm.htm). |
| (MM) [S&P 500 3-Year 10% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1856824NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3nn.htm). |
| (NN) [S&P 500 3-Year 20% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1856924NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3oo.htm). |
| (OO) [S&P 500 6-Year 10% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1849824NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3pp.htm). |
| (PP) [S&P 500 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1857224NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3qq.htm). |

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Part C – Page 6

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| |
|:---|
| (QQ) [iShares MSCI EAFE ETF 1-Year 10% Buffer with Cap Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1842624NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3rr.htm). |
| (RR) [iShares MSCI EAFE ETF 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1842424NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ss.htm). |
| (SS) [iShares U.S. Real Estate ETF 1-Year -10% Floor with Cap Indexed Strategy - Index Loss Subject to a -10% Floor for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1850624NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3tt.htm). |
| (TT) [iShares U.S. Real Estate ETF 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1842724NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3uu.htm). |
| (UU) [SPDR GLD Shares ETF 1-Year -10% Floor with Cap Indexed Strategy - Index Loss Subject to a -10% Floor for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC24-E1850524NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3vv.htm). |
| (VV) [First Trust Barclays Edge 1-Year 10% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1849124NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ww.htm). |
| (WW) [First Trust Barclays Edge 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 50% Downside Participation Rate for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1849224NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3xx.htm). |
| (XX) [Russell 2000 1-Year 10% Buffer with Cap Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC25-E1860625NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3yy.htm). |
| (YY) [Russell 2000 1-Year 20% Buffer with Cap Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Cap for Each Term (Form No. ICC25-E1860725NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3zz.htm). |
| (ZZ) [Russell 2000 3-Year 10% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC25-E1860825NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3aaa.htm). |

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Part C – Page 7

------

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| |
|:---|
| (AAA) [Russell 2000 3-Year 20% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC25-E1860925NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3bbb.htm). |
| (BBB) [Russell 2000 6-Year 10% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 10% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1857324NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ccc.htm). |
| (CCC) [Russell 2000 6-Year 20% Buffer with Upside Participation Rate Indexed Strategy - Index Loss Subject to a 20% Buffer for Each Term - Index Gain Subject to a Upside Participation Rate for Each Term (Form No. ICC24-E1857424NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3ddd.htm). |
| (DDD) [Death Benefit Value Return of Premium Guarantee Endorsement (Form No. ICC24-E1826324NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d3eee.htm). |
| (EEE) [S&P 500 3-Year 10% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 10% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1861825NW) is filed herewith.](d947355dex9927d3eee.htm) |
| (FFF) [S&P 500 3-Year 20% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862225NW) is filed herewith.](d947355dex9927d3fff.htm) |
| (GGG) [S&P 500 6-Year 10% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 10% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862125NW) is filed herewith.](d947355dex9927d3ggg.htm) |
| (HHH) [S&P 500 6-Year 20% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862325NW) is filed herewith.](d947355dex9927d3hhh.htm) |
| (III) [Russell 2000 3-Year 10% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 10% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862425NW) is filed herewith.](d947355dex9927d3iii.htm) |
| (JJJ) [Russell 2000 3-Year 20% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862525NW) is filed herewith.](d947355dex9927d3jjj.htm) |
| (KKK) [Russell 2000 6-Year 10% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 10% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862625NW) is filed herewith.](d947355dex9927d3kkk.htm) |

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Part C – Page 8

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| | |
|:---|:---|
|  | (LLL) [Russell 2000 6-Year 20% Buffer with Upside Participation Rate & Cap Strategy – Index Loss Subject to a 20% Buffer for Each Term – Index Gain Subject to a Upside Participation Rate & Cap for Each Term (Form No. ICC25-E1862725NW) is filed herewith.](d947355dex9927d3lll.htm) |
|  (d)(4) | Waiver Riders |
|  | (A) [Terminal Illness Waiver Rider (Form No. R1462416NW) is incorporated by reference to Pre-Effective Amendment No. 1 filed on behalf of Great American Life Insurance Company on February 16, 2016. 1933 Act File No. 333-207914](http://www.sec.gov/Archives/edgar/data/723258/000104204616000071/galicprea1s1-ex4j.htm). |
|  | (B) [Extended Care Waiver Rider (Form No. R1462316NW) is incorporated by reference to Pre-Effective Amendment No. 1 filed on behalf of Great American Life Insurance Company on February 16, 2016. 1933 Act File No. 333-207914](http://www.sec.gov/Archives/edgar/data/723258/000104204616000071/galicprea1s1-ex4k.htm). |
|  | (C) [California Extended Care Waiver Rider (Form No. R1462316CA) is incorporated by reference to Pre-Effective Amendment No. 2 filed on behalf of MassMutual Ascend Life Insurance Company on April 27, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000104204616000071/galicprea1s1-ex4l.htm). |
|  | (D) [Terminal Illness Waiver Rider (Form No. ICC24-R1462324NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d4d.htm). |
|  | (E) [Extended Care Waiver Rider (Form No. ICC24-R1462424NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927d4e.htm). |
| (e) | [Application (Form No. ICC24-A1834924NW) is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927e.htm). |
| (f) | Insurance Company's Certificate of Incorporation and By-Laws |
|  | (1) [Amended and Restated Articles of Incorporation are incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex3a.htm). |
|  | (2) [Amended and Restated Code of Regulations are incorporated by reference to the S-1 filed on behalf of MassMutual Ascend Life Insurance Company on February 15, 2023. 1933 Act File No. 333-269812](http://www.sec.gov/Archives/edgar/data/723258/000119312523040283/d463873dex3b.htm). |
| (g) | Reinsurance Contracts – Not applicable. |
| (h) | Participation Agreements – Not applicable. |
| (i) | Administrative Contracts |
|  | (1) [Administrative Services Agreement between MassMutual Life Insurance Company, Great American Life Insurance Company, Annuity Investors Life Insurance Company, and Manhattan National Life Insurance Company effective May 28, 2021 is incorporated by reference to the Registration Statement on Form S-1 filed on behalf of Great American Life Insurance Company on January 6, 2022. 1933 Act File No. 333-262034](http://www.sec.gov/Archives/edgar/data/723258/000119312522003537/d260474dex10a.htm). |
|  | (2) [Amendment No. 1 to Administrative Services Agreement between MassMutual Life Insurance Company, Great American Life Insurance Company, Annuity Investors Life Insurance Company, and Manhattan National Life Insurance Company effective August 5, 2021 is incorporated by reference to the Registration Statement on Form S-1 filed on behalf of Great American Life Insurance Company on January 6, 2022. 1933 Act File No. 333-262034](http://www.sec.gov/Archives/edgar/data/723258/000119312522003537/d260474dex10b.htm). |

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Part C – Page 9

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| | |
|:---|:---|
| (j) | [Leased Employee Agreement among Glidepath Holdings Inc., Great American Life Insurance Company, Annuity Investors Life Insurance Company, and Manhattan National Life Insurance Company effective May 28, 2021 is incorporated by reference to the Registration Statement on Form S-1 filed on behalf of Great American Life Insurance Company on January 6, 2022. 1933 Act File No. 333-262034](http://www.sec.gov/Archives/edgar/data/723258/000119312522003537/d260474dex10c.htm). |
| (k) | Legal Opinion – to be included by amendment. |
| (l) | Consent of Independent Registered Public Accounting Firm – to be included by amendment. |
| (m) | Omitted Financial Statements – Not applicable. |
| (n) | Initial Capital Agreements – Not applicable. |
| (o) | Form of Initial Summary Prospectuses |
|  | (1) [Index Summit 6 Pro with Death Benefit Return of Premium Guarantee Form of Initial Summary Prospectus is filed herewith](d947355dex9927o1.htm) |
|  | (2) Index Summit 6 Pro Form of Initial Summary Prospectus – to be included by amendment. |
| (p) | Powers of Attorney |
|  | (1) [Power of Attorney – Dominic L. Blue is filed herewith.](d947355dex9927p1.htm) |
|  | (2) [Power of Attorney – Susan M. Cicco is filed herewith.](d947355dex9927p2.htm) |
|  | (3) [Power of Attorney – Geoffrey J. Craddock is filed herewith.](d947355dex9927p3.htm) |
|  | (4) [Power of Attorney – Roger W. Crandall is filed herewith.](d947355dex9927p4.htm) |
|  | (5) [Power of Attorney – Mary Jane Fortin is filed herewith.](d947355dex9927p5.htm) |
|  | (6) [Power of Attorney – Vy Ho is filed herewith.](d947355dex9927p6.htm) |
|  | (7) [Power of Attorney – Paul A. LaPiana is filed herewith.](d947355dex9927p7.htm) |
|  | (8) [Power of Attorney – Sears Merritt is filed herewith.](d947355dex9927p8.htm) |
|  | (9) [Power of Attorney – Michael J. O'Connor is filed herewith.](d947355dex9927p9.htm) |
|  | (10) [Power of Attorney – Eric W. Partlan is filed herewith.](d947355dex9927p10.htm) |
| (q) | Letter Regarding Change in Certifying Accountant – Not applicable. |
| (r) | [Historical Current Limits on Index Gains is incorporated by reference to Post-Effective Amendment No. 4 filed on behalf of MassMutual Ascend Life Insurance Company on April 28, 2025. 1933 Act File No. 333-276475](http://www.sec.gov/Archives/edgar/data/723258/000119312525100150/d931434dex9927r.htm). |

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Part C – Page 10

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**<u>Item 28. Directors and Officers of the Insurance Company</u>**

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| | |
|:---|:---|
| **Name and Principal Business Address** | **Positions and Offices with Depositor** |
| Dominic L. Blue<br> 1295 State Street, Springfield, MA 01111-001 | President and Chief Executive Officer (principal executive officer) |
| Donna Carrelli<br> 191 Rosa Parks Street, Cincinnati, OH 45202 | Head of Insurance Operations |
| Susan M. Cicco<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Geoffrey J. Craddock<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Roger W. Crandall<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Mary Jane Fortin<br> 1295 State Street, Springfield, MA 01111-001 | Chief Financial Officer (principal financial officer) and Director |
| John P. Gruber<br> 191 Rosa Parks Street, Cincinnati, OH 45202 | Senior Vice President, Secretary, CCO and General Counsel |
| Vy Ho<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Paul A. LaPiana<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Sears Merritt<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Michael J. O'Connor<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Eric W. Partlan<br> 1295 State Street, Springfield, MA 01111-001 | Director |
| Brian P. Sponaugle<br> 191 Rosa Parks Street, Cincinnati, OH 45202 | Senior Vice President and Treasurer |

---

**<u>Item 29. Persons Controlled by or Under Common Control with the Insurance Company or the Registered Separate Account</u>**

MassMutual Ascend Life Insurance Company (formerly Great American Life Insurance Company) is a stock life insurance company incorporated under the laws of the State of Ohio. It is a wholly owned subsidiary of Glidepath Holdings, Inc., which is in turn a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual").

The following entities are, or may be deemed to be, controlled by MassMutual through the direct or indirect ownership of such entities' stock or other ownership interests. In addition, MassMutual may be deemed to control one or more investment pools not listed below and managed or sponsored by MassMutual or its affiliates, through direct or indirect ownership of shares or other interests in such investment pools.

A. C.M. Life Insurance Company (May 11, 1981), a Connecticut corporation which operates as a life and health
insurance company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MML Bay State Life Insurance Company (April 1, 1935), a Connecticut corporation which operates as a life and
health insurance company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. CML Mezzanine Investor III, LLC (May 17, 2010), a Delaware limited liability company that acts as a blocker
entity for C.M. Life Insurance Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. CML Special Situations Investor LLC (November 17, 2014), a Delaware limited liability company that holds a
portion of the limited partner interest in a European investment fund.

Part C – Page 11

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. CM Life Mortgage Lending LLC (March 16, 2023), a Delaware limited liability company formed to hold investments.

B. MML Distributors, LLC (November 10, 1994), a Connecticut limited liability company which operates as a
securities broker-dealer. (MassMutual – 99% and MassMutual Holding LLC – 1%.)

C. MassMutual Holding LLC (November 30, 1984), a Delaware limited liability company which operates as a holding
company for certain MassMutual entities.

MassMutual Holding LLC is the sole owner of each subsidiary or affiliate unless otherwise indicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MML Investors Services, LLC (December 31, 1981), a Massachusetts limited liability company which operates as a
securities broker-dealer and federally covered investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MML Insurance Agency, LLC (November 16, 1990), a Massachusetts limited liability company which operates as an
insurance broker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. MassMutual Assignment Company (October 4, 2000), a North Carolina corporation which operated a structured
settlement business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. MassMutual Capital Partners LLC (September 20, 2006), a Delaware single-member limited liability company.
MassMutual Holding LLC is the sole member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. LifeScore Labs, LLC (previously, Society of Grownups, LLC) (April 15, 2014), a Massachusetts limited liability
company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. MassMutual Ventures Holding LLC (March 26, 2018), a Delaware limited liability company formed to hold mandate
investment vehicles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MassMutual Ventures US I LLC (formerly, MassMutual Ventures LLC) (June 10, 2014), a Delaware limited liability
company that will hold investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. MassMutual Ventures US II LLC (April 17, 2018), a Delaware limited liability company that will hold
investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. MassMutual Ventures US III LLC (May 21, 2020), a Delaware limited liability company that will hold investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. MassMutual Ventures UK LLC (July 12, 2018), a Delaware limited liability company formed to hold investment
mandates in the United Kingdom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. MassMutual Ventures Southeast Asia I LLC (September 25, 2018), a Delaware company that holds investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. MassMutual Ventures Southeast Asia II LLC (December 12, 2019), a Delaware limited liability company that holds
investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. MassMutual Ventures Management LLC (April 4, 2018), a Delaware limited liability company that will serve as the
investment manager for US-based mandate investment vehicles.

1) MassMutual Ventures SEA Management Private Limited (June 20, 2018), a Singapore company formed to provide investment advisory services to its affiliated company in the U.S.

a.) MMV UK/SEA Limited (May 23, 2023), a company established in England and Wales to perform activities related to venture capital work.

b.) MassMutual Ventures India Private Limited (January 10, 2024), an India company that supports and facilitates growth of the MMV Europe/APAC business in India.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Haven Life Insurance Agency, LLC (March 17, 2014), a Delaware limited liability company that engages in
insurance agency activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. MM Rothesay Holdco US LLC (September 24, 2013), a Delaware limited liability company that holds shares in
Rothesay Limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Fern Street LLC (April 11, 2013), a Delaware limited liability company.

Part C – Page 12

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Sleeper Street LLC (October 4, 2019), a Delaware limited liability company that will hold certain investments
and invest in a portfolio of private equity assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. MM Catalyst Fund LLC (November 25 2020), a Delaware limited liability company that holds investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. MM Catalyst Fund II LLC (February 6, 2023), a Delaware limited liability company that holds investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. MM Asset Management Holding LLC, a Delaware limited liability company that acts as a holding company for
certain asset managers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Barings LLC (July 5, 1940), a Delaware limited liability company which operates as an investment adviser.

1.) Barings Securities LLC (July 1, 1994), a Delaware limited liability company which operates as a securities broker-dealer.

2.) Barings Guernsey Limited (February 20, 2001), an investment management company organized under the laws of Guernsey.

a.) Barings Europe Limited (June 5, 2017), a company organized under the laws of England and Wales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Baring Asset Management Limited (April 6, 1994), a company incorporated under the laws of England and Wales
that acts an investment manager/adviser.

aa. Baring Fund Managers Limited (October 29, 1968), a company incorporated under the laws of England and Wales that acts as a manager of BAM UK Collective Investment Schemes.

bb. Baring International Investment Limited (June 7, 1979), a company incorporated under the laws of England and Wales that acts as an investment manager/adviser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;cc. Baring Investment Services Limited (May 18, 1988), a company incorporated under the laws of England and Wales that acts as a service company which supports all the BAM Group operating companies within the UK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dd. Barings European Core Property Fund GP Sàrl (October 29, 2015), a special-purpose company organized in Luxembourg that serves as a general partner of a European real estate equity fund.

ee. Barings BME GP Sàrl (July 31, 2020), a company organized under the laws of England and Wales that serves as a general partner.

ff. Barings GPLF4(S) GP Sàrl (March 18, 2021), a company incorporated under the laws of Luxembourg that serves as a General Partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Barings Italy S.r.l. (July 23, 2019), an operating company incorporated under the laws of Italy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Barings Sweden AB (July 16, 2019), an operating company incorporated under the laws of Sweden.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Barings Asset Management Spain SL (October 13, 2019), an operating company incorporated under the laws of
Spain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. Barings Netherlands B.V. (December 5, 2019), an operating company incorporated under the laws of the
Netherlands.

Part C – Page 13

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. Barings GmbH (formerly Barings Real Estate GmbH)(January 8, 2014), a German limited liability company that
provides transaction and asset management services for all types of real estate and retail property, in addition to development and refurbishment services for office, retail, industrial and residential assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. Barings (U.K.) Limited (January 4, 1995), an institutional debt-fund manager organized under the laws of
England and Wales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii. Baring France SAS (July 24, 1997), a company incorporated under the laws of France that handles distribution
and client services for qualified investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ix. Baring International Fund Managers (Ireland) Limited (July 16, 1990), a company incorporated under the laws of
Ireland that acts as a manager of BAM Irish Collective Investment Schemes and Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x. Barings Switzerland Sàrl (December 18, 2013), an operating company established under the laws of
Switzerland.

3.) Barings Real Estate Advisers, Inc. (May 11, 2004), a Delaware corporation that holds a "corporation" real estate license.

4.) Barings Real Estate Acquisitions LLC (January 10, 2022), a Delaware limited liability company.

5.) BMC Holdings DE LLC (March 29, 2013), a Delaware limited liability company.

6.) Barings Finance LLC (December 12, 2012), a Delaware limited liability company formed to invest in securities of U.S. middle market companies.

a.) BCF Europe Funding Limited (August 27, 2013), a company formed in the Republic of Ireland to invest in securities.

b.) BCF Senior Funding I LLC (August 28, 2013), a limited liability company formed under the laws of the State of Delaware to invest in securities.

c.) BCF Senior Funding I Designated Activity Company (January 20, 2016), a company formed in the Republic of Ireland to invest in securities.

7.) Baring Asset Management (Asia) Holdings Limited (June 7, 1985), an intermediate holding company organized in Hong Kong.

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| | |
|:---|:---|
| a.) | Barings Japan Limited (January 13, 1986), a company organized in Japan that is registered as a Financial Business Operator (Registration No. 396-KLFB) for Type II Financial Instruments Business, Investment Advisory and Agency Business, and Investment Management Business with the Financial Services Agency in Japan under the Financial Instruments and Exchange Act (Act No. 25 of 1948).  |

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b.) Baring International Fund Managers (Bermuda) Limited (September 13, 1988), a company incorporated under the laws of Bermuda under that acts as a trustee of Baring Korea Trust Fund Ltd.'s undistributed funds.

c.) Baring SICE (Taiwan) Limited (March 15, 1990), a regulated company organized in Taiwan.

d.) Baring Asset Management (Asia) Limited (March 15, 1985), a company organized in Hong Kong that acts as an investment adviser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Baring Asset Management Korea Limited, a regulated Korean company that engages in the business of asset
management, business administration and investment advisory services.

Part C – Page 14

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Barings Investment Management (Shanghai) Limited (August 3, 2018) is an operating company established under
Chinese law.

aa. Barings Overseas Investment Fund Management (Shanghai) Limited (August 22, 2018) serves as the distributor in China.

e.) Barings Singapore Pte. Ltd. (November 16, 2020), an operating company established under the laws of Singapore.

f.) Barings Australia Holding Company Pty Ltd (October 12, 2009), an operating company that employs five or more mezzanine debt portfolio managers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Barings Australia Pty Ltd (October 16, 2009), an asset manager for Australian institutional investors.

8.) Barings Australia Real Estate Holdings Pty Ltd (May 4, 2022), a private limited company established under the laws of Australia that act as a holding company.

a.) Barings Australia Real Estate Pty Ltd (May 4, 2022), a private limited company established under the laws of Australia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Barings Australia Property Partners Holdings Pty Ltd (May 5, 2010), an operating company established under the
laws of Australia.

aa.) Barings Australia Asset Management Pty Ltd (May 17, 2010), a proprietary limited company established under the laws of Australia. (Not shown on organizational chart.)

bb.) Barings Australia Property Partners Pty Ltd (August 8, 2008), a proprietary limited company established under the laws of Australia. (Not shown on organizational chart.)

9.) Barings Australia Structured Finance Holdings Pty Ltd (January 11, 2023), a private limited company established under the laws of Australia that acts as a holding company.

a.) Barings Australia Structured Finance Pty Ltd (January 11, 2023), a private limited company established under the laws of Australia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Gryphon Capital Partners Pty Ltd (January 2, 2014), a proprietary limited company established under the laws of
Australia.

aa.) Gryphon Capital Management Pty Ltd (February 28, 2014), a proprietary limited company established under the laws of Australia.

bb.) Gryphon Capital Investments Pty Ltd (February 28, 2014), a proprietary limited company established under the laws of Australia.

D. MassMutual Private Wealth & Trust, FSB (January 12, 2000), a federally chartered stock savings bank
which performs trust services.

E. MML Private Placement Investment Company I, LLC (May 15, 2007), a Delaware limited liability.

F. MML Private Equity Fund Investor LLC (December 6, 2006), a Delaware limited liability company that acts as a
blocker entity for MassMutual and holds private equity fund investments.

G. MM Private Equity Intercontinental LLC (September 24, 2013), a Delaware limited liability company that invests
in certain private equity funds.

H. MSP-SC, LLC (August 4, 2009), a Delaware limited liability company
formed to take title to a property that was acquired by foreclosure.

I. MassMutual External Benefits Group LLC (September 23, 2010), a Delaware limited liability company created to
satisfy a professional employer organization's tax reporting needs.

J. Jefferies Finance LLC (July 26, 2004), a Delaware limited liability company and commercial finance company
registered with the SEC as an investment adviser that structures, underwrites and arranges senior secured loans to corporate borrowers and financial sponsors (MassMutual holds 50% voting ownership interest and Jefferies Financial Group Inc. holds
50% voting ownership interest).

Part C – Page 15

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Apex Credit Holdings LLC (formerly known as Apex Credit Partners LLC, October 20, 2014), a Delaware
limited liability company which holds legacy CLO investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. JFIN Co-Issuer Corporation (March 13, 2013), a Delaware corporation
formed for the purpose of acting as a co-issuer of senior 8 unsecured notes and secured term loans of Jefferies Finance LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Jefferies MM Lending LLC (October 14, 2011), a Delaware limited liability company formed for the purpose of
investing in senior secured loans and entering into a warehouse financing through a credit facility with Wells Fargo Bank, N.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. JFIN LC Fund LLC (February 1, 2016), a Delaware limited liability company formed for the purposes of holding
cash collateral and entering into a standby letter of credit fronting facility with Wells Fargo Bank, N.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. JFIN Revolver Holdings LLC (January 23, 2018), a Delaware limited liability company formed to hold revolving
loan commitments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. JFIN Revolver Holdings II LLC (May 11, 2018), a Delaware limited liability company formed to hold revolving
loan commitments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. JFIN GP Adviser LLC (May 11, 2018), a Delaware limited liability company formed to be an investment adviser and
general partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. JFIN Europe GP, S.à.r.l. (December 18, 2015), a Luxembourg private limited liability company formed as
the general partner of Jefferies Finance Europe, SCSp.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Jefferies Finance Europe, S.L.P. (July 20, 2020), an alternative investment fund formed as a professional
specialized fund incorporated as a limited partnership governed by articles L.214-162-1 et seq. of the French Monetary and Financial Code, which was established to
arrange and invest in European senior secured loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Jefferies Finance Europe, SCSp (March 10, 2016), an alternative investment fund formed as a Luxembourg special
limited partnership which was established to arrange and invest in European senior secured loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Jefferies Finance Business Credit LLC (August 7, 2013), a Delaware limited liability company that acts as a
holding company for JFIN Business Credit Fund I LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. JFIN Business Credit Fund I LLC (August 7, 2013), a Delaware limited liability company formed for the purpose
of investing in asset based revolving loans and entering into warehouse financing through a credit facility with Wells Fargo Capital Finance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. JFIN Funding 2021 LLC (November 5, 2021), a Delaware limited liability company which holds certain loan assets
in connection with a master participation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Jefferies Private Credit BDC Inc. (January 14, 2020), a Maryland corporation that was formed for the purpose of
investing in senior secured loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. JCP Funding 2024 LLC (March 12, 2024), a Delaware limited liability company which was formed to hold loans that
will be participated to an investor via a master participation agreement. This entity is wholly owned by Jefferies Finance LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. JSPCS MM LLC (July 8, 2024), a Delaware limited liability company formed to manage Jefferies Specialty Private
Credit Solutions LLC, a venture intended to provide a financing solution for corporate and sponsor-backed borrowers in the middle market. This entity is wholly owned by Jefferies Finance LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Jefferies Credit Partners LLC (formerly known as JFIN Asset Management LLC) (June 8, 2020), a Delaware limited
which is a private credit lending platform and investment adviser registered with the SEC as a relying adviser.

Part C – Page 16

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. JDLF GP (Europe) S.à.r.l. (November 4, 2022), incorporated and existing under the laws of Luxembourg and
was formed as a general partner of a newly formed Luxembourg RAIF. Jefferies Credit Partners LLC is the sole shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Jefferies Credit Management Holdings LLC (December 8, 2022), a Delaware limited liability company that will be
the holding company for a registered investment adviser to business development companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Jefferies Direct Lending Europe SCSp SICAV-RAIF (December 9, 2022), incorporated and existing under the laws of
Luxembourg and formed for the purpose of investing in senior secured loans. Jefferies Credit Partners LLC is the sole limited partner, but it is intended that limited partner interests will be acquired by third party investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Jefferies Credit Management LLC (December 8, 2022), a Delaware limited liability company that will be a
registered investment adviser to business development companies.

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| | |
|:---|:---|
| 1.) | JCM GP I LLC (October 6, 2023), a Delaware limited liability company formed for the purpose of acting as the general partner for Saguaro Large Cap Select Fund LP. This entity is 100% owned by Jefferies Credit Management LLC.  |

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| | |
|:---|:---|
| 2.) | JCM H-2 Credit Fund GP LLC (May 15, 2024), a Delaware limited liability company formed for the purpose of acting as general partner of JCM H-2 Credit Fund GP LP, a Cayman Island company and the general partner of H-2 Credit Fund LP, a Canadian limited partnership. This entity is 100% owned by Jefferies Credit Management LLC.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. JCP GP I LLC (October 12, 2023), a Delaware limited liability company formed for the purpose of acting as the
general partner for Cardinal Credit Fund. This entity is 100% owned by Jefferies Credit Partners LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. JCP Direct Lending CLO 2022 LLC (November 1, 2021), a Delaware limited liability company formed for the purpose
of securitizing senior secured middle market loans, and to be managed by Jefferies Credit Partners LLC. MassMutual and MassMutual Ascend Life Insurance Company are investors in the CLO notes, and collectively own 37.47% of the subordinated notes
(equity). Jefferies Credit Partners LLC owns 9.9% of the subordinated notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. JDLF II GP LLC (January 7, 2022), a Delaware limited liability company formed as the holding company for
Jefferies Direct Lending Fund II LP. Jefferies Credit Partners LLC is the managing member.

1.) JDLF II GP LP (January 7, 2022), a Delaware partnership formed as the general partner of Jefferies Direct Lending Fund LP. JFAM GP LLC is the general partner and Jefferies Credit Partners LLC is the limited partner.

---

| | |
|:---|:---|
| a.) | Jefferies Direct Lending Fund II C LP (January 7, 2022), a Delaware partnership formed for the purpose of investing alongside Jefferies Direct Lending Fund II LP in senior secured middle market loans, and to be managed by Jefferies Credit Partners LLC. JDLF II GP LP is the general partner and Jefferies Finance LLC is the limited partner.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Jefferies DLF2 C Holdings LLC (March 28, 2022), a Delaware limited liability company created in connection with
a fund leverage facility.

aa. Jefferies Direct Lending Fund II C SPE LLC (March 28, 2022), a Delaware limited liability company created in connection with a fund leverage facility to be provided by MassMutual.

Part C – Page 17

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. JDLF III GP LLC (January 30, 2024), a Delaware limited liability company formed as the holding company for
Jefferies Direct Lending Fund III LP. Jefferies Credit Partners LLC is the managing member.

1.) JDLF III GP LP (January 30, 2024), a Delaware partnership formed as the general partner of Jefferies Direct Lending Fund III LP. JDLF III GP LLC is the general partner and Jefferies Credit Partners LLC is the limited partner.

---

| | |
|:---|:---|
| a.) | Jefferies Direct Lending Fund III C LP (January 30, 2024), a Delaware partnership formed for the purpose of investing alongside Jefferies Direct Lending Fund III LP in senior secured middle market loans, and to be managed by Jefferies Credit Partners LLC. JDLF III GP LP is the general partner and Jefferies Credit Partners LLC is the limited partner.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. JFAM GP LLC (April 13, 2017), a Delaware limited liability company formed as the holding company for Jefferies
Direct Lending Fund, LP. Jefferies Credit Partners LLC is the managing member.

1.) JFAM GP LP (April 13, 2017), a Delaware partnership formed as the general partner of Jefferies Direct Lending Fund, LP. JFAM GP LLC is the general partner, and Jefferies Credit Partners LLC is the limited partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Jefferies Direct Lending Fund C LP (November 25, 2019), a Delaware partnership formed for the purpose of
investing alongside Jefferies Direct Lending Fund LP in senior secured middle market loans, and to be managed by Jefferies Credit Partners LLC. JFAM GP LP is the general partner, and Jefferies Finance LLC is the limited partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Jefferies DLF C Holdings LLC (February 11, 2020), a Delaware limited liability company created in connection
with a fund leverage facility.

aa. Jefferies Direct Lending Fund C SPE LLC (February 11, 2020), a Delaware limited liability company created in connection with a fund leverage facility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. JCP Direct Lending CLO 2023-1 LLC (May 11, 2023), Delaware limited
liability company formed for the purpose of securitizing senior secured middle market loans, and to be managed by Jefferies Credit Partners LLC.

1.) JCP Direct Lending CLO 2023 Ltd. (May 23, 2023), a Jersey Channel Islands private limited company formed for the purpose of securitizing middle market loan assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. Jefferies M Super Private Credit Fund GP LLC (March 19, 2024), a Delaware limited liability company formed for
the purpose of acting as the general partner for Jefferies M Super Private Credit Fund LP. This entity is 100% owned by Jefferies Credit Partners LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. Jefferies Credit Partners Europe Limited (September 5, 2024), a private limited company formed in England and
Wales, established to be an investment adviser in the UK regulated by the Financial Conduct Authority. This entity is 100% owned by Jefferies Credit Partners LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Green SPE LLC (April 16, 2024), a Delaware limited liability company formed to join a Joint Venture with Great
Elm Corporation in connection with the contribution of capital to an Apex warehouse. This entity will be wholly-owned by Jefferies Finance LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Apex Credit Partners LLC (formerly known as Apex Newco LLC) (July 15, 2021), a Delaware limited liability
company which is an investment adviser to CLOs and is registered with the SEC as a relying adviser.

Part C – Page 18

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1.) Apex GP I LLC (December 21, 2023), a Delaware limited liability company formed as the general partner of Apex Securitized Income Fund LP.

a.) Apex Securitized Income Fund LP (December 22, 2023), a Delaware limited partnership formed for the purpose of investing in CLOs and entering into warehouse financing arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Jefferies Senior Lending LLC (April 26, 2021), a Delaware limited liability company formed as a warehouse
special purpose vehicle to invest in Large Cap loan assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. JFIN Revolver SPE1 2022 LLC (March 9, 2022), a Delaware limited liability company formed to hold revolving loan
commitments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. JFIN Revolver SPE3 2022 LLC (August 31, 2022), a Delaware limited liability company formed to hold revolving
loan commitments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. JFIN Revolver SPE4 2022 LLC (August 31, 2022), a Delaware limited liability company formed to hold revolving
loan investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. JFIN Revolver SPE4 2022 Ltd. (August 31, 2022), a Cayman Islands company formed to hold revolving loan
investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. JCP Private Loan Management GP LLC (March 16, 2023), a Delaware limited liability company formed for the
purpose of acting as general partner for a fund established to hold the subordinated tranche of direct lending CLOs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. JCP Private Loan Management LP (March 16, 2023), a Delaware limited partnership formed for the purpose of
holding the subordinated tranche of direct lending CLOs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. JF CEI Holdings 1 LLC (December 20, 2024), a Delaware limited liability company formed to hold the equity of JF
CEI Holdings 2 LLC. This entity is owned 100% by Jefferies Finance LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. JF CEI Holdings 2 LLC CP (December 20, 2024), a Delaware limited liability company formed to hold the equity of
Custom Ecology Holdco LLC. This entity is owned 100% by JF CEI Holdings 1 LLC.

K. Berkshire Way LLC (June 14 2012), a Delaware limited liability company that was formed to invest in emerging
market securities on behalf of MassMutual.

L. MML Strategic Distributors, LLC (June 7, 2013), a Delaware limited liability company that is licensed to act as
a broker-dealer.

M. MML Investment Advisers, LLC (September 24, 2013), a Delaware limited liability company which operates as a
federally covered investment adviser.

N. Pioneers Gate LLC (October 27, 2014), a Delaware limited liability company that was formed to invest in
asset-backed securities on behalf of MassMutual.

O. MML Special Situations Investor LLC (November 17, 2014), a Delaware limited liability company that holds a
portion of the limited partner interest in a European investment fund.

P. Timberland Forest Holding LLC (October 12, 2015), a Delaware limited liability company that acts as a holding
company. MassMutual's ownership is 37% and 63% is held by MassMutual Trad Private Equity LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Lyme Adirondack Forest Company, LLC (April 4, 2006), a Delaware limited liability company that acts as a
holding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Lyme Adirondack Timber Sales, LLC (December 16, 2016), a Delaware company. (Note: Lyme Adirondack Timber Sales,
Inc. merged with and into this company effective December 31, 2016.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Lyme Adirondack Timberlands I, LLC (August 16, 2006), a Delaware limited liability company that is a property
owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Lyme Adirondack Timberlands II, LLC (August 16, 2006), a Delaware limited liability company that is a property
owner.

Part C – Page 19

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Q. MassMutual International LLC (February 19, 1996), a Delaware limited liability company which operates as a
holding company for certain international investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Solutions LLC (June 20, 2019), a Delaware limited liability company that acts as a holding company.

R. Insurance Road LLC (May 3, 2017), a Delaware limited liability company that acts as a holding company for
companies that hold intellectual property assets and invest in a portfolio of private equity assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Intellectual Property LLC (May 3, 2017), a Delaware limited liability company that will hold certain
intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. MassMutual Trad Private Equity LLC (May 3, 2017), a Delaware limited liability company that will hold and
invest in a portfolio of private equity assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Trad Investments I LLC (September 11, 2018), a Delaware limited liability company that will hold and invest in
a portfolio of private equity assets.

S. MassMutual Mortgage Lending LLC (October 30, 2017), a Delaware limited liability company that will invest in
commercial mortgage loans.

T. MM Copper Hill Road LLC (October 5, 2017), a Delaware limited liability company that has been established to
hold certain receivables and to engage in related financing activities.

U. EM Opportunities LLC (January 16, 2018), a Delaware limited liability company formed to hold a portfolio of
high yield, emerging market debt investments.

V. MassMutual MCAM Insurance Company, Inc. (March 18, 2018), a Vermont captive insurance company that will sell
insurance to MassMutual and its subsidiary companies.

W. CML Global Capabilities (December 2, 2019), a Delaware limited liability company.

X. MM Global Capabilities I LLC (December 2, 2019), a Delaware limited liability company that serves as a limited
partner and holds ownership shares in MassMutual Global Business Services India LLP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Global Business Services India LLP (December 23, 2019), a limited partnership domiciled in the
Republic of India that will provide information technology and information technology enabled services to MassMutual. (Owned 99.8% by MM Global Capabilities I LLC, 0.1% by MM Global Capabilities II LLC and 0.1% by MM Global Capabilities III LLC.)

Y. MM Global Capabilities II LLC (December 2, 2019), a Delaware limited liability company that serves as a limited
partner and holds ownership shares in MassMutual Global Business Services India LLP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MM Global Capabilities (Netherlands) B.V. (February 28, 2020), a company domiciled in the Netherlands that will
hold ownership interests of MassMutual in India and Romania (MM Global Capabilities I LLC and MM Global Capabilities II LLC are the partners of this company).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MassMutual Global Business Services Romania S.R.L. (March 31, 2020), a company domiciled in Romania that will
provide computer programming, consultancy and related activities to MassMutual.

Z. MM Global Capabilities III LLC (December 3, 2019), a Delaware limited liability company that serves as a
limited partner and holds ownership shares in MassMutual Global Business Services India LLP.

AA. MM Investment Holding (September 21, 2020), a Cayman Islands company organized to provide holding company services and financial services for its affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MML Management Corporation (October 14, 1968), a Massachusetts corporation which formerly operated as a manager
of properties owned by MassMutual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MassMutual International Holding MSC, Inc. (January 31, 2001), a Massachusetts corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. MassMutual Holding MSC, Inc. (December 26, 1996), a Massachusetts corporation which operates as a holding
company for MassMutual positions in investment entities organized outside of the United States. This subsidiary qualifies as a "Massachusetts Security Corporation" under Chapter 63 of the Massachusetts General Laws.

Part C – Page 20

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. MassMutual Asset Finance LLC (formerly known as Winmark Equipment Finance, LLC) is an equipment financing
company which provides collateralized lending, financing and leasing services nationwide (owned 99.61% by MM Investment Holding and .39% by C.M. Life Insurance Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MMAF Equipment Finance LLC 2017-B (October 30, 2017), a Delaware
limited liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. MMAF Equipment Finance LLC 2019-A (February 20, 2019), a Delaware
limited liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. MMAF Equipment Finance LLC 2019-B (August 23, 2019), a Delaware limited
liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. MMAF Equipment Finance LLC 2020-A (May 27, 2020), a Delaware limited
liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. MMAF Equipment Finance LLC 2020-B (August 24, 2020), a Delaware limited
liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. MMAF Equipment Finance LLC 2021-A (April 12 2021), a Delaware limited
liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. MMAF Equipment Finance LLC 2022-A (February 24, 2022), a Delaware
limited liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. MMAF Equipment Finance LLC 2022-B (September 26, 2022), a Delaware
limited liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. MMAF Equipment Finance LLC 2023-A (June 14, 2023), a Delaware limited
liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. MMAF Equipment Finance LLC 2024-A (November 28, 2023), a Delaware
limited liability company that holds a portfolio of rights in equipment loans, equipment leases, related equipment and related rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. MMIH Bond Holdings LLC (November 28, 2022), a Delaware limited liability company.

BB. MML CM LLC (November 10, 2020), a Delaware limited liability company that holds certain investments for MassMutual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Blueprint Income LLC (May 4, 2016), a New York limited liability company that is an online annuity marketplace.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Flourish Holding Company LLC (February 14, 2022), a Delaware limited liability company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Flourish Insurance Agency LLC (February 18, 2022), a Delaware limited liability company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Flourish Financial LLC (November 3, 2017), a Delaware limited liability company that is a fintech platform for
registered investment advisers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Flourish Technologies LLC (May 11, 2021), a Delaware limited liability company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Flourish Digital Assets LLC (May 11, 2021), a Delaware limited liability company.

CC. Glidepath Holdings Inc. (February 4, 2021), a Delaware corporation that acts act as a holding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Ascend Life Insurance Company (December 29, 1961), an Ohio corporation that acts as a life and
health insurance company.

Part C – Page 21

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Annuity Investors Life Insurance Company (November 13, 1981), an Ohio corporation that acts as a life and
health insurance company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. AAG Insurance Agency, LLC (December 6, 1994), a Kentucky corporation that acts as an insurance agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. MM Ascend Life Investor Services, LLC (formerly, Great American Advisors, LLC) (December 10, 1993), an Ohio
corporation that acts as a broker-dealer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. MM Ascend Mortgage Lending LLC (March 17, 2023), a Delaware limited liability company formed to hold
investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. MM Vine Street LLC (September 26, 2024), a Delaware limited liability company that will hold certain
investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Manhattan National Holding Corporation (August 27, 2008), an Ohio Corporation that acts as a holding company.

1.) Manhattan National Life Insurance Company (May 21, 2014), an Ohio corporation that acts as a life and health insurance company.

DD. ITPS Holding LLC (May 18, 2021, a Delaware limited liability company that acts act as a holding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. HITPS LLC (May 24, 2021), a Delaware limited liability company that acts as a provider of cloud based insurance
technology solutions.

EE. MM/Barings Multifamily TEBS 2020 LLC (April 2, 2020) a Delaware limited liability company that engages in bond and mortgage loan securitization transactions.

FF. MassMutual Ventures Europe/APAC I GP, LLC (September 28, 2022), a Delaware limited liability company formed to serve as a general partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Ventures Europe/APAC I GP, L.P. (October 21, 2022), a Cayman Islands exempted limited partnership
formed to serve as a general partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MassMutual Ventures Europe/APAC I, L.P. (October 21, 2022), a Cayman Islands exempted limited partnership which
will hold investments.

1.) MassMutual Ventures Southeast Asia III LLC (January 3, 2022), a Delaware limited liability company that holds investments.

a.) MMV Digital I LLC (May 18, 2022)), a Cayman Islands company that holds cryptocurrency and crypto-token investments.

GG. MassMutual Ventures US IV GP, LLC (September 28, 2022), a Delaware limited liability company formed to serve as a general partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Ventures US IV, L.P. (September 28, 2022), a Delaware limited partnership which will hold
investments. MassMutual Ventures US IV GP, LLC I is the General Partner and MassMutual is the Limited Partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. MassMutual Ventures US IV LLC (December 8, 2021), a Delaware limited liability company that will hold
investments.

HH. MM Direct Private Investments Holding LLC (September 16, 2021), a Delaware limited liability company that acts act as a holding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MM Direct Private Investments UK Limited (September 27, 2021), a UK private limited company that holds
investments.

II. DPI-ACRES Capital LLC (September 16, 2022), a Delaware limited
liability company that will hold commercial mortgage loans.

JJ. MMV CTF I GP, LLC (January 30, 2023) a Delaware limited liability company that was formed to act as the general partner of MassMutual Ventures Climate Technology Fund I LP.

Part C – Page 22

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. MassMutual Ventures Climate Technology Fund I LP (January 30, 2023) a Delaware fund that was formed to hold
investments.

KK. DPI-ARES Mortgage Lending LLC (July 5, 2023) a Delaware limited liability company that will hold commercial loans.

LL. Counterpointe Sustainable Advisors LLC (April 4, 2023) a Delaware limited liability company that that will
engage, directly or indirectly, through one or more subsidiaries, in the origination, acquisition and management of "green" financing products, including commercial property-assessed clean energy (C-PACE) financing, green mortgages, energy service agreements, power purchase agreements and other green financing approved products, and to provide services in connection therewith. MassMutual has a 75.76%
ownership interest in this company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CSA Incentive Holdco LLC (April 6, 2023), a Delaware limited liability company, is an entity owned by
Counterpointe Sustainable Advisors LLC ("CSA"). Certain officers, employees and directors of CSA have incentive units in CSA Incentive Holdco LLC (which incentive units mirror the M Units (profits interest units) in CSA). CSA Incentive
Holdco LLC is not an operating entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. CSA Intermediate Holdco LLC (April 4, 2023), a Delaware limited liability company that will engage, directly or
indirectly, through one or more subsidiaries, in the origination, acquisition and management of "green" financing products, including commercial property-assessed clean energy (C-PACE) financing,
green mortgages, energy service agreements, power purchase agreements and other green financing approved products, and to provide services in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Counterpointe Trust Services LLC (October 14, 2020)), a Delaware limited liability company that provides
various services to one or more titling trusts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. CP PACE LLC (October 14, 2020), Delaware limited liability company that provides various services to one or
more titling trusts.

1.) Counterpointe Titling Trust (November 6, 2020), a Delaware statutory trust which holds investments originated by Counterpointe Sustainable Advisors LLC, each held in a Special Unit of Beneficial Interest of the trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Counterpointe Energy Solutions II LLC (April 6, 2023), a Delaware limited liability company that will engage,
directly or indirectly, through one or more subsidiaries, in the origination, acquisition and management of "green" financing products, including commercial property-assessed clean energy (C-PACE) financing, green mortgages, energy service agreements, power purchase agreements and other green financing approved products, and to provide services in connection therewith.

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| | |
|:---|:---|
| 1.) | Counterpointe Energy Solutions (CA) II LLC (April 6, 2023), a Delaware limited liability company that will engage, directly or indirectly, through one or more subsidiaries, in the origination, acquisition and management of "green" financing products, including commercial property-assessed clean energy (C-PACE) financing, green mortgages, energy service agreements, power purchase agreements and other green financing approved products, and to provide services in connection therewith.  |

---

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| | |
|:---|:---|
| 2.) | Counterpointe Energy Solutions (IL) LLC (July 16, 2018), a Delaware limited liability company whose primary purpose is the holding of 50% of the equity interests in Loop-Counterpointe PACE LLC.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Loop-Counterpointe PACE LLC (July 16, 2018), a Delaware limited liability company whose primary purpose is to
serve as the program administrator for the City of Chicago's PACE (property assessed clean energy) program.

3.) Counterpointe Energy Solutions (FL) II LLC (October 2, 2023), a Delaware limited liability company whose primary purpose is to serve as a program administrator for the State of Florida's PACE (property assessed clean energy) program.

Part C – Page 23

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. CSA Employee Services Company LLC (April 6, 2023), a Delaware limited liability company that employs various
individuals in connection with its parent company's (and such parent company's subsidiaries) operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Counterpointe Sustainable Real Estate II LLC (April 6, 2023), a Delaware limited liability company that will
engage, directly or indirectly, through one or more subsidiaries, in the origination, acquisition and management of "green" financing products, including commercial property-assessed clean energy (C-PACE) financing, green mortgages, energy service agreements, power purchase agreements and other green financing approved products, and to provide services in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Counterpointe Energy Services LLC (March 17, 2015), a Delaware limited liability company that will engage,
directly or indirectly, through one or more subsidiaries, in the origination, acquisition and management of "green" financing products, including commercial property-assessed clean energy (C-PACE) financing, green mortgages, energy service agreements, power purchase agreements and other green financing approved products, and to provide services in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Counterpointe Investment Management LLC (October 10, 2024), a Delaware limited liability company that was
formed to provide investment management services.

MM. Stillings Street LLC (September 25, 2024), a Delaware limited liability company that will hold certain
investments.

**<u>Item 30. Indemnification</u>**

Ohio Revised Code, Section 1701.13(E), allows indemnification by the Registrant to any person made or threatened to be made a party to any proceedings, other than a proceeding by or in the right of the Registrant, by reason of the fact that he is or was a director, officer, employee or agent of the Registrant, against expenses, including judgment and fines, if he acted in good faith and in a manner reasonably believed to be in or not opposed to our best interests and, with respect to criminal actions, in which he had no reasonable cause to believe that his conduct was unlawful. Similar provisions apply to actions brought by or in the right of the Registrant, except that no indemnification shall be made in such cases when the person shall have been adjudged to be liable for negligence or misconduct to the Registrant unless deemed otherwise by the court. Indemnifications are to be made by a majority vote of a quorum of disinterested directors or the written opinion of independent counsel or by the shareholders or by the court.

Article VII of the Registrant's Amended and Restated Code of Regulations includes the following provisions related to indemnification of its directors, officers, employees and agents.

ARTICLE VII INDEMNIFICATION OF DIRECTORS AND OFFICERS

Section 1. Right to Indemnification. Each person who was or is made a party or is threatened to be made a party to or is otherwise involved (including, without limitation, as a witness) in any actual or threatened action, claim, suit investigation or proceeding, of any nature whatsoever (hereinafter "proceeding"), by reason of the fact that he or she is or was a director, board member, committee member, partner, trustee, officer or employee of any foreign or domestic organization or any separate investment account, or any individual who serves in any capacity with respect to any employee benefit plan, or that, being or having been such a director, board member, committee member, partner, trustee, officer or employee of any foreign or domestic organization or any separate investment account or any individual who serves in any capacity with respect to any employee benefit plan, he or she is or was serving at the request of an executive officer of the Corporation as a director, board member, committee member, partner, trustee, officer, employee or agent of another corporation or of a partnership, joint venture, trust, limited liability company or other enterprise, including service with respect to an employee benefit plan (hereinafter an "indemnitee"), whenever the basis of such proceeding is alleged action in an official capacity as such shall be indemnified and held harmless by the Corporation to the fullest extent permitted by law, as the same exists or may hereinafter be amended (but, in the

Part C – Page 24

------

case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than permitted prior thereto), or by other applicable law as then in effect, against all costs and reasonable counsel fees, fines, penalties, judgments or awards of any kind, and the amount of reasonable settlements, whether or not payable to the Corporation or to any of the other entities described above actually incurred or suffered by such indemnitee in connection therewith and such indemnification shall continue as to an indemnitee who has ceased to be a director, board member, committee member, partner, trustee, officer or employee of any foreign or domestic organization or any separate investment account or any individual who serves in any capacity with respect to any employee benefit plan and shall inure to the benefit of the indemnitee's heirs, executors, legal representatives and administrators. To the extent any of the indemnification provisions set forth above prove to be ineffective for any reason in furnishing the indemnification provided, each of the persons named above shall be indemnified by the Corporation to the fullest extent not prohibited by applicable law.

Notwithstanding the foregoing, no indemnification shall be provided with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. any matter as to which the person shall have been adjudicated in any proceeding not to have acted in good faith in the reasonable belief that his or her action was in the best interests of the Corporation or, to the extent that such matter relates to service with respect to any employee benefit plan, in the best interests of the participants or beneficiaries of such employee benefit plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. any liability to any entity which is registered as an investment company under the Federal Investment Company Act of 1940 or to the security holders thereof, where the basis for such liability is willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. any action, claim or proceeding voluntarily initiated by any person seeking indemnification, unless such action, claim or proceeding had been authorized by the Board or unless such person's indemnification is awarded by vote of the Board.

In any matter disposed of by settlement or in the event of an adjudication which in the opinion of the General Counsel or his or her delegate does not make a sufficient determination of conduct which could preclude or permit indemnification in accordance with the preceding paragraphs, the person shall be entitled to indemnification unless, as determined by the majority of the disinterested directors or in the opinion of counsel (who may be an officer of the Corporation or outside counsel employed by the Corporation), such person's conduct was such as precludes indemnification under any such paragraph. The termination of any action, claim, suit, investigation or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in the best interests of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 Advancements. The Corporation may at its option indemnify for expenses incurred in connection with any action or proceeding in advance of its final disposition, upon receipt of a satisfactory undertaking for repayment if it be subsequently determined that the person thus indemnified is not entitled to indemnification under this Article VII.

Section 2. Procedures for the Submission of Claims. The Board may establish reasonable procedures for the submission of claims for indemnification pursuant to this ARTICLE VII, determination of the entitlement of any person thereto, and review of any such determination.

Part C – Page 25

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MassMutual, the Registrant's parent company, maintains, at its expense, Directors and Officers Liability and Company Reimbursement Liability Insurance. The Directors and Officers Liability portion of such policy covers all directors and officers of MassMutual and of the companies which are, directly or indirectly, more than 50% owned by MassMutual, which includes the Registrant. The policy provides for payment on behalf of the directors and officers, up to the policy limits and after expenditure of a specified deductible, of all Loss (as defined) from claims made against them during the policy period for defined wrongful acts, and neglect or breach of duty by directors and officers in the discharge of their individual or collective duties as such. The insurance includes the cost of investigations and defenses, appeals, and settlements and judgments, but not fines or penalties imposed by law. The insurance does not cover any claims arising out of acts alleged to have been committed prior to December 31, 1996, or in the case of companies directly or indirectly 50% owned by MassMutual, which includes the Registrant, such later date as MassMutual or its predecessors may be deemed to control the company. The prior acts effective date for the Registrant is May 28, 2021. The policy contains various exclusions and reporting requirements.

**<u>Item 31. Principal Underwriters</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) MM Ascend Life Investor Services, LLC (formerly Great American Advisors<sup>®</sup>, Inc.) is the principal underwriter for the Contracts and is also the principal underwriter for the following investment companies: Annuity
Investors<sup>®</sup> Variable Account A, Annuity Investors<sup>®</sup> Variable Account B, and Annuity Investors<sup>®</sup> Variable Account C.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The principal business address of each director and officer of MM Ascend Life Investor Services, LLC is 191
Rosa Parks Street, 12th Floor, Cincinnati, Ohio 45202.

---

| | |
|:---|:---|
| Name | Position with MM Ascend Life Investor Services, LLC |
| Peter J. Nerone | President, Chief Executive Officer & Chief Compliance Officer |
| Scott Kramer | Vice President, Chief Information Security Officer & Co-Chief Compliance Officer |
| Athena Purdon | Treasurer |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Required information is included in, and incorporated by reference to, Part B of this Registration Statement.

**<u>Item 31A. Information about Contracts with Index-Linked Options</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name of the Contract** | **Number of<br>Contracts<br>outstanding** | **Total value<br>attributable to**<br>**the Index-**<br>**Linked Option** | **Number of<br>Contracts sold<br>during the<br>prior calendar<br>year** | **Gross<br>premiums<br>received**<br>**during the<br>prior calendar<br>year** | **Amount of<br>Contract value<br>redeemed<br>during the<br>prior calendar<br>year** | **Combination<br>contract<br>(Yes/No)** |
|  Index Summit 6 Pro<sup>®</sup> with Death Benefit Return of Premium Guarantee | 11101 | $2282641457 | 4330 | $706412388 | $55905545 | No |
|  Index Summit 6 Pro<sup>®</sup>  | 0 | $0 | 0 | $0 | $0 | No |

---

Part C – Page 26

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**<u>Item 32. Location of Accounts and Records</u>**

Not applicable.

**<u>Item 33 Management Services</u>**

Not applicable.

**<u>Item 34. Fee Representation and Undertakings</u>**

MMALIC undertakes to file, during any period in which offers or sales are being made, a post-effective amendment to the registration statement to include any prospectus required by section 10(a)(3) of the Securities Act; and that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

Part C – Page 27

------

**INDEX TO EXHIBITS** 

**MASSMUTUAL ASCEND LIFE INSURANCE COMPANY** 

---

| | |
|:---|:---|
| Number | Exhibit Description |
|  27(d)(3)(EEE) | [S&P 500 3-Year 10% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1861825NW)](d947355dex9927d3eee.htm) |
|  27(d)(3)(FFF) | [S&P 500 3-Year 20% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862225NW)](d947355dex9927d3fff.htm) |
|  27(d)(3)(GGG) | [S&P 500 6-Year 10% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862125NW)](d947355dex9927d3ggg.htm) |
|  27(d)(3)(HHH) | [S&P 500 6-Year 20% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862325NW)](d947355dex9927d3hhh.htm) |
|  27(d)(3)(III) | [Russell 2000 3-Year 10% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862425NW)](d947355dex9927d3iii.htm) |
|  27(d)(3)(JJJ) | [Russell 2000 3-Year 20% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862525NW).](d947355dex9927d3jjj.htm) |
|  27(d)(3)(KKK) | [Russell 2000 6-Year 10% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862625NW)](d947355dex9927d3kkk.htm) |
|  27(d)(3)(LLL) | [Russell 2000 6-Year 20% Buffer with Upside Participation Rate & Cap Strategy (Form No. ICC25-E1862725NW)](d947355dex9927d3lll.htm) |
|  27(o)(1) | [Index Summit 6 Pro with Death Benefit Return of Premium Guarantee Form of Initial Summary Prospectus](d947355dex9927o1.htm) |
|  27(p)(1) | [Power of Attorney – Dominic L. Blue](d947355dex9927p1.htm) |
|  27(p)(2) | [Power of Attorney – Susan M. Cicco](d947355dex9927p2.htm) |
|  27(p)(3) | [Power of Attorney – Geoffrey J. Craddock](d947355dex9927p3.htm) |
|  27(p)(4) | [Power of Attorney – Roger W. Crandall](d947355dex9927p4.htm) |
|  27(p)(5) | [Power of Attorney – Mary Jane Fortin](d947355dex9927p5.htm) |
|  27(p)(6) | [Power of Attorney – Vy Ho](d947355dex9927p6.htm) |
|  27(p)(7) | [Power of Attorney – Paul A. LaPiana](d947355dex9927p7.htm) |
|  27(p)(8) | [Power of Attorney – Sears Merritt](d947355dex9927p8.htm) |
|  27(p)(9) | [Power of Attorney – Michael J. O'Connor](d947355dex9927p9.htm) |
|  27(p)(10) | [Power of Attorney – Eric W. Partlan](d947355dex9927p10.htm) |

---

Part C – Page 28

------

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Cincinnati, State of Ohio, on this 20<sup>th</sup> day of August, 2025.

---

| | | |
|:---|:---|:---|
|  | **MassMutual Ascend Life Insurance Company** | **MassMutual Ascend Life Insurance Company** |
| August 20, 2025 | By: | /s/ Brian P. Sponaugle |
|  |  | Brian P. Sponaugle |
|  |  | Senior Vice President and Treasurer |

---

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on Form N-4 for the Individual Index-linked Modified Single Premium Deferred Annuity Contracts has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| Signature | Capacity | Date |
| /s/ Dominic L. Blue\* | Director<br> President and Chief Executive Officer (principal executive officer) | August 20, 2025 |
| Dominic L. Blue\* |  |  |
| /s/ Susan M. Cicco\* | Director | August 20, 2025 |
| Susan M. Cicco\* |  |  |
| /s/ Geoffrey J. Craddock\* | Director | August 20, 2025 |
| Geoffrey J. Craddock\* |  |  |
| /s/ Roger W. Crandall\* | Director | August 20, 2025 |
| Roger W. Crandall\* |  |  |
| /s/ Mary Jane Fortin\* | Chief Financial Officer (principal financial officer)<br> Director | August 20, 2025 |
| Mary Jane Fortin\* |  |  |
| /s/ Vy Ho\* | Director | August 20, 2025 |
| Vy Ho\* |  |  |
| /s/ Paul A. LaPiana\* | Director | August 20, 2025 |
| Paul A. LaPiana\* |  |  |
| /s/ Sears Merritt\* | Director | August 20, 2025 |
| Sears Merritt\* |  |  |
| /s/ Michael J. O'Connor\* | Director | August 20, 2025 |
| Michael J. O'Connor\* |  |  |
| /s/ Eric W. Partlan\* | Director | August 20, 2025 |
| Eric W. Partlan\* |  |  |
| /s/ Brian P. Sponaugle | Principal Accounting Officer | August 20, 2025 |
| Brian P. Sponaugle |  |  |
| \*By:<br> /s/ John P. Gruber | As Attorney-in-Fact pursuant to powers of<br> attorney filed herewith |  |
| John P. Gruber |  |  |

---

Date: August 20, 2025

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**S&P 500** 

**3-YEAR** 

**10% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the S&P 500 3-Year 10% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Contract Number:** | [000000000] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Index:** | S&P 500<sup>®</sup> Index |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Term Length:** | 3 Years, subject to Performance Lock provision |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Downside Protection:** | 10% Buffer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Upside Factors:** | Upside Participation Rate of not less than [5%] |
|  | Cap of not less than [1%] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE S & P 500 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue] | [John P. Gruber] |
| [President] | [Secretary] |

---

ICC25-E1861825NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the fourth Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the S&P 500 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the S&P 500 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the S&P 500 Index.

If the S&P 500 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 10% Buffer.

If the S&P 500 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the S&P 500 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease of more than 10% | Loss equal to percentage decrease in Index over 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease of 10% or less | No Gain or Loss |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No increase or decrease | No Gain or Loss |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

ICC25-E1861825NW 2 [XX]

------

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 1096.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

ICC25-E1861825NW 3 [XX]

------

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the S&P 500 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the S&P 500 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 10%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the S&P 500 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the S&P 500 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, if a new Term of this Strategy is not available, this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such S&P 500 1-Year Indexed Strategy.

ICC25-E1861825NW 4 [XX]

------

**Index Information** 

The S&P 500 Index is the Standard & Poor's 500TM Index. It excludes any dividends that may be paid by the firms that comprise the Index.

**[The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by MassMutual Ascend Life Insurance Company. S&P<sup>®</sup>, S&P 500<sup>®</sup>, US 500, The 500, iBoxx<sup>®</sup>, iTraxx<sup>®</sup> and CDX<sup>®</sup> are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); It is not possible to invest directly in an index. MassMutual Ascend Life Insurance Company Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the MassMutual Ascend Life Insurance Company's Products or any member of the public regarding the advisability of investing in securities generally or in MassMutual Ascend Life Insurance Company's Products particularly or the ability of the S&P 500 Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to MassMutual Ascend Life Insurance Company with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to MassMutual Ascend Life Insurance Company or the MassMutual Ascend Life Insurance Company's Products. S&P Dow Jones Indices has no obligation to take the needs of MassMutual Ascend Life Insurance Company or the owners of MassMutual Ascend Life Insurance Company's Products into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of MassMutual Ascend Life Insurance Company's Products. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.** 

**S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OWNERS OF THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY'S PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.]** 

ICC25-E1861825NW 5 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**S&P 500** 

**3-YEAR** 

**20% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the S&P 500 3-Year 20% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Contract Number:** | [000000000] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Index:** | S&P 500<sup>®</sup> Index |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Term Length:** | 3 Years, subject to Performance Lock provision |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Downside Protection:** | 20% Buffer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Upside Factors:** | Upside Participation Rate of not less than [5%] |
|  | Cap of not less than [1%] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE S&P 500 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue] | [John P. Gruber] |
| [President] | [Secretary] |

---

ICC25-E1861925NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the fourth Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the S&P 500 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the S&P 500 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the S&P 500 Index.

If the S&P 500 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 20% Buffer.

If the S&P 500 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the S&P 500 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease of more than 20% | Loss equal to percentage decrease in Index over 20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease of 20% or less | No Gain or Loss |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No increase or decrease | No Gain or Loss |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

ICC25-E1861925NW 2 [XX]

------

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 1096.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

ICC25-E1861925NW 3 [XX]

------

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the S&P 500 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the S&P 500 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 20%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the S&P 500 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the S&P 500 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, if a new Term of this Strategy is not available, this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such S&P 500 1-Year Indexed Strategy.

ICC25-E1861925NW 4 [XX]

------

**Index Information** 

The S&P 500 Index is the Standard & Poor's 500TM Index. It excludes any dividends that may be paid by the firms that comprise the Index.

**[The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by MassMutual Ascend Life Insurance Company. S&P<sup>®</sup>, S&P 500<sup>®</sup>, US 500, The 500, iBoxx<sup>®</sup>, iTraxx<sup>®</sup> and CDX<sup>®</sup> are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); It is not possible to invest directly in an index. MassMutual Ascend Life Insurance Company Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the MassMutual Ascend Life Insurance Company's Products or any member of the public regarding the advisability of investing in securities generally or in MassMutual Ascend Life Insurance Company's Products particularly or the ability of the S&P 500 Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to MassMutual Ascend Life Insurance Company with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to MassMutual Ascend Life Insurance Company or the MassMutual Ascend Life Insurance Company's Products. S&P Dow Jones Indices has no obligation to take the needs of MassMutual Ascend Life Insurance Company or the owners of MassMutual Ascend Life Insurance Company's Products into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of MassMutual Ascend Life Insurance Company's Products. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.** 

**S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OWNERS OF THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY'S PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.]** 

ICC25-E1861925NW 5 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**S&P 500** 

**6-YEAR** 

**10% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the S&P 500 6-Year 10% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| **Contract Number:** | [000000000] |
| **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| **Index:** | S&P 500<sup>®</sup> Index |
| **Term Length:** | 6 Years, subject to Performance Lock provision |
| **Downside Protection:** | 10% Buffer |
| **Upside Factors:** | Upside Participation Rate of not less than [5%]<br>Cap of not less than [1%] |
| **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE S&P 500 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue]<br> [President] | [John P. Gruber]<br> [Secretary] |

---

ICC25-E1862225NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the first Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the S&P 500 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the S&P 500 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the S&P 500 Index.

If the S&P 500 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 10% Buffer.

If the S&P 500 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the S&P 500 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| Decrease of more than 10% | Loss equal to percentage decrease in Index over 10% |
| Decrease of 10% or less | No Gain or Loss |
| No increase or decrease | No Gain or Loss |
| Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

ICC25-E1862225NW 2 [XX]

------

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 2192.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

ICC25-E1862225NW 3 [XX]

------

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the S&P 500 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the S&P 500 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 10%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the S&P 500 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the S&P 500 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such S&P 500 1-Year Indexed Strategy.

ICC25-E1862225NW 4 [XX]

------

**Index Information** 

The S&P 500 Index is the Standard & Poor's 500<sup>TM</sup> Index. It excludes any dividends that may be paid by the firms that comprise the Index.

**[The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by MassMutual Ascend Life Insurance Company. S&P<sup>®</sup>, S&P 500<sup>®</sup>, US 500, The 500, iBoxx<sup>®</sup>, iTraxx<sup>®</sup> and CDX<sup>®</sup> are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); It is not possible to invest directly in an index. MassMutual Ascend Life Insurance Company Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the MassMutual Ascend Life Insurance Company's Products or any member of the public regarding the advisability of investing in securities generally or in MassMutual Ascend Life Insurance Company's Products particularly or the ability of the S&P 500 Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to MassMutual Ascend Life Insurance Company with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to MassMutual Ascend Life Insurance Company or the MassMutual Ascend Life Insurance Company's Products. S&P Dow Jones Indices has no obligation to take the needs of MassMutual Ascend Life Insurance Company or the owners of MassMutual Ascend Life Insurance Company's Products into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of MassMutual Ascend Life Insurance Company's Products. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.** 

**S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OWNERS OF THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY'S PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.]** 

ICC25-E1862225NW 5 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**S&P 500** 

**6-YEAR** 

**20% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the S&P 500 6-Year 20% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| **Contract Number:** | [000000000] |
| **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| **Index:** | S&P 500<sup>®</sup> Index |
| **Term Length:** | 6 Years, subject to Performance Lock provision |
| **Downside Protection:** | 20% Buffer |
| **Upside Factors:** | Upside Participation Rate of not less than [5%]<br>Cap of not less than [1%] |
| **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE S&P 500 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue]<br> [President] | [John P. Gruber]<br> [Secretary] |

---

ICC25-E1862325NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the first Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the S&P 500 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the S&P 500 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the S&P 500 Index.

If the S&P 500 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 20% Buffer.

If the S&P 500 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the S&P 500 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| Decrease of more than 20% | Loss equal to percentage decrease in Index over 20% |
| Decrease of 20% or less | No Gain or Loss |
| No increase or decrease | No Gain or Loss |
| Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

ICC25-E1862325NW 2 [XX]

------

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 2192.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

ICC25-E1862325NW 3 [XX]

------

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the S&P 500 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the S&P 500 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the S&P 500 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 20%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the S&P 500 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the S&P 500 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such S&P 500 1-Year Indexed Strategy.

ICC25-E1862325NW 4 [XX]

------

**Index Information** 

The S&P 500 Index is the Standard & Poor's 500<sup>TM</sup> Index. It excludes any dividends that may be paid by the firms that comprise the Index.

**[The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by MassMutual Ascend Life Insurance Company. S&P<sup>®</sup>, S&P 500<sup>®</sup>, US 500, The 500, iBoxx<sup>®</sup>, iTraxx<sup>®</sup> and CDX<sup>®</sup> are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); It is not possible to invest directly in an index. MassMutual Ascend Life Insurance Company Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the MassMutual Ascend Life Insurance Company's Products or any member of the public regarding the advisability of investing in securities generally or in MassMutual Ascend Life Insurance Company's Products particularly or the ability of the S&P 500 Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to MassMutual Ascend Life Insurance Company with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to MassMutual Ascend Life Insurance Company or the MassMutual Ascend Life Insurance Company's Products. S&P Dow Jones Indices has no obligation to take the needs of MassMutual Ascend Life Insurance Company or the owners of MassMutual Ascend Life Insurance Company's Products into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of MassMutual Ascend Life Insurance Company's Products. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice.** 

**S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OWNERS OF THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY'S PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE MASSMUTUAL ASCEND LIFE INSURANCE COMPANY PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND MASSMUTUAL ASCEND LIFE INSURANCE COMPANY, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.]** 

ICC25-E1862325NW 5 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**RUSSELL 2000** 

**3-YEAR** 

**10% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the Russell 2000 3-Year 10% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| **Contract Number:** | [000000000] |
| **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| **Index:** | Russell 2000<sup>®</sup> Index |
| **Term Length:** | 3 Years, subject to Performance Lock provision |
| **Downside Protection:** | 10% Buffer |
| **Upside Factors:** | Upside Participation Rate of not less than [5%] |
|  | Cap of not less than [1%] |
| **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE RUSSELL 2000 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue] | [John P. Gruber] |
| [President] | [Secretary] |

---

ICC25-E1862425NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the fourth Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the Russell 2000 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the Russell 2000 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the Russell 2000 Index.

If the Russell 2000 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 10% Buffer.

If the Russell 2000 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the Russell 2000 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| Decrease of more than 10% | Loss equal to percentage decrease in Index over 10% |
| Decrease of 10% or less | No Gain or Loss |
| No increase or decrease | No Gain or Loss |
| Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

ICC25-E1862425NW 2 [XX]

------

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 1096.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

ICC25-E1862425NW 3 [XX]

------

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the Russell 2000 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the Russell 2000 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 10%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the Russell 2000 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the Russell 2000 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, if a new Term of this Strategy is not available, this Strategy shall merge into and become a part of the Russell 2000 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. If at the end of a Term there is no Russell 2000 1-Year Indexed Strategy available, then this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such 1-Year Indexed Strategy.

**Index Information** 

The Russell 2000<sup>®</sup> Index is designed to provide a measure of the small-cap segment of the US equity market. The value of the index excludes any dividends that may be paid by the firms that comprise the Index.

**[MassMutual Ascend Life Insurance Company ("MassMutual Ascend") products are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies.** 

**All rights in the FTSE Russell Index ("the Index") vest in the relevant LSE Group company which owns the Index. Russell<sup>®</sup> is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.** 

**The Index is calculated by or on behalf of Frank Russell Company or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the MassMutual Ascend product(s). The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the MassMutual Ascend product(s) or the suitability of the Index for the purpose to which it is being put by MassMutual Ascend Life Insurance Company.]** 

ICC25-E1862425NW 4 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**RUSSELL 2000** 

**3-YEAR** 

**20% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the Russell 2000 3-Year 20% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| **Contract Number:** | [000000000] |
| **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| **Index:** | Russell 2000<sup>®</sup> Index |
| **Term Length:** | 3 Years, subject to Performance Lock provision |
| **Downside Protection:** | 20% Buffer |
| **Upside Factors:** | Upside Participation Rate of not less than [5%]<br>Cap of not less than [1%] |
| **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE RUSSELL 2000 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue] | [John P. Gruber] |
| [President] | [Secretary] |

---

ICC25-E1862525NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the fourth Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the Russell 2000 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the Russell 2000 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the Russell 2000 Index.

If the Russell 2000 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 20% Buffer.

If the Russell 2000 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the Russell 2000 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| Decrease of more than 20% | Loss equal to percentage decrease in Index over 20% |
| Decrease of 20% or less | No Gain or Loss |
| No increase or decrease | No Gain or Loss |
| Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

ICC25-E1862525NW 2 [XX]

------

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 1096.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

ICC25-E1862525NW 3 [XX]

------

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the Russell 2000 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the Russell 2000 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 20%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the Russell 2000 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the Russell 2000 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, if a new Term of this Strategy is not available, this Strategy shall merge into and become a part of the Russell 2000 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. If at the end of a Term there is no Russell 2000 1-Year Indexed Strategy available, then this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such 1-Year Indexed Strategy.

**Index Information** 

The Russell 2000<sup>®</sup> Index is designed to provide a measure of the small-cap segment of the US equity market. The value of the index excludes any dividends that may be paid by the firms that comprise the Index.

**[MassMutual Ascend Life Insurance Company ("MassMutual Ascend") products are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies.** 

**All rights in the FTSE Russell Index ("the Index") vest in the relevant LSE Group company which owns the Index. Russell<sup>®</sup> is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.** 

**The Index is calculated by or on behalf of Frank Russell Company or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the MassMutual Ascend product(s). The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the MassMutual Ascend product(s) or the suitability of the Index for the purpose to which it is being put by MassMutual Ascend Life Insurance Company.]** 

ICC25-E1862525NW 4 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**RUSSELL 2000** 

**6-YEAR** 

**10% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the Russell 2000 6-Year 10% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| **Contract Number:** | [000000000] |
| **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| **Index:** | Russell 2000<sup>®</sup> Index |
| **Term Length:** | 6 Years, subject to Performance Lock provision |
| **Downside Protection:** | 10% Buffer |
| **Upside Factors:** | Upside Participation Rate of not less than [5%]<br>Cap of not less than [1%] |
| **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company*. *Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE RUSSELL 2000 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue] | [John P. Gruber] |
| [President] | [Secretary] |

---

ICC25-E1862625NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the first Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the Russell 2000 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the Russell 2000 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the Russell 2000 Index.

If the Russell 2000 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 10% Buffer.

If the Russell 2000 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the Russell 2000 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| Decrease of more than 10% | Loss equal to percentage decrease in Index over 10% |
| Decrease of 10% or less | No Gain or Loss |
| No increase or decrease | No Gain or Loss |
| Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

ICC25-E1862625NW 2 [XX]

------

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 2192.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

ICC25-E1862625NW 3 [XX]

------

**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the Russell 2000 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the Russell 2000 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 10%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the Russell 2000 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the Russell 2000 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, this Strategy shall merge into and become a part of the Russell 2000 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. If at the end of a Term there is no Russell 2000 1-Year Indexed Strategy available, then this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such 1-Year Indexed Strategy.

**Index Information** 

The Russell 2000<sup>®</sup> Index is designed to provide a measure of the small-cap segment of the US equity market. The value of the index excludes any dividends that may be paid by the firms that comprise the Index.

**[MassMutual Ascend Life Insurance Company ("MassMutual Ascend") products are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies.** 

**All rights in the FTSE Russell Index ("the Index") vest in the relevant LSE Group company which owns the Index. Russell<sup>®</sup> is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.** 

**The Index is calculated by or on behalf of Frank Russell Company or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the MassMutual Ascend product(s). The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the MassMutual Ascend product(s) or the suitability of the Index for the purpose to which it is being put by MassMutual Ascend Life Insurance Company.]** 

ICC25-E1862625NW 4 [XX]

## Exhibit 99.27

![LOGO](g947355dsp_1a.jpg)

Home Office: Cincinnati, Ohio

Administrative Office: [P.O. Box 5423, Cincinnati, Ohio 45201-5423]

[1-800-789-6771]

[MassMutualAscend.com]

**RUSSELL 2000** 

**6-YEAR** 

**20% BUFFER WITH UPSIDE PARTICIPATION RATE & CAP** 

**INDEXED STRATEGY** 

**Crediting Strategy Endorsement** 

**Performance Lock Feature** 

**This is your Crediting Strategy endorsement for the Russell 2000 6-Year 20% Buffer with Upside Participation Rate & Cap Indexed Strategy.** It describes how Gain or Loss is calculated for this Crediting Strategy, and the terms and conditions that apply to this Strategy.

**ENDORSEMENT SPECIFICATIONS** 

---

| | |
|:---|:---|
| **Contract Number:** | [000000000] |
| **Owner{s}:** | [JOHN DOE][ & ][JANE DOE] |
| **Index:** | Russell 2000<sup>®</sup> Index |
| **Term Length:** | 6 Years, subject to Performance Lock provision |
| **Downside Protection:** | 20% Buffer |
| **Upside Factors:** | Upside Participation Rate of not less than [5%]<br>Cap of not less than [1%] |
| **Endorsement Effective Date:** | [December 7, 2025] |

---

*Except to the extent guaranteed in the Contract and this Endorsement, the elements used in calculating Gain or Loss from the Index are not guaranteed and can be changed by the Company. Such changes may affect the return for this Crediting Strategy.* Gain or Loss calculated for this Crediting Strategy does not include the portion of returns generated by dividends from the stocks that make up the Index.

The Strategy value for the most recent Market Close and related information is available by contacting us or through our website. Further information about the calculation of the Strategy value and examples may be found in the prospectus for your annuity contract, which is not a part of the Contract.

**GAIN OR LOSS UNDER THIS CREDITING STRATEGY IS DETERMINED IN PART BASED ON THE RUSSELL 2000 INDEX. HOWEVER, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY EQUITY INVESTMENTS.** 

This endorsement is a part of your Contract. It is not a separate contract. In all cases of conflict with the other terms of the Contract, the provisions of this endorsement shall control.

Signed for us at our office as of Endorsement Effective Date.

---

| | |
|:---|:---|
| [ ![LOGO](g947355dsp_1b.jpg) ] | [ ![LOGO](g947355dsp_1c.jpg) ] |
| [Dominic Blue] | [John P. Gruber] |
| [President] | [Secretary] |

---

ICC25-E1862725NW 1 [XX]

------

**Limited Availability** 

This Strategy is only available for Terms that begin before the end of the first Contract Year.

**Gain or Loss** 

Each day, the value of the Strategy includes the Gain or Loss for the Term.

Gain or Loss is calculated as a percentage of the then remaining investment base of the Strategy for the current Term. For this purpose, the investment base is equal to:

1) the amount applied to this Strategy at the start of the Term; minus 

2) the amount deducted from the investment base for each withdrawal or charge that is taken from this Strategy during the Term. 

**Gain or Loss at the End of a Term** 

After the final Market Close of a Term, unless you have elected a Performance Lock, any Gain or Loss is determined based on the increase or decrease in the Russell 2000 Index since the start of the Term. This increase or decrease is expressed as a percentage of the value of the Russell 2000 Index at the start of the Term. It is measured from the Index value at the last Market Close on or before the first day of the Term to the Index value at the final Market Close of the Term. The Index value is the standard industry value of the Russell 2000 Index.

If the Russell 2000 Index has decreased, then the Loss for the Term is equal to the percentage decrease in the Index, but only to the extent such decrease exceeds the 20% Buffer.

If the Russell 2000 Index has increased and the Term does not have a Cap, then the Gain for the Term is equal to the percentage increase in the Index, multiplied by the Upside Participation Rate.

If the Russell 2000 Index has increased and the Term has a Cap, then the Gain for the Term is equal to the lesser of:

1) the percentage increase in the Index, multiplied by the Upside Participation Rate; or 

2) the Cap.

The Gain or Loss for the Term is illustrated below:

---

| | |
|:---|:---|
| **Percentage Change in Index for the Term** | **Gain or Loss for Term** |
| Decrease of more than 20% | Loss equal to percentage decrease in Index over 20% |
| Decrease of 20% or less | No Gain or Loss |
| No increase or decrease | No Gain or Loss |
| Increase if no Cap, or increase of less than Adjusted Cap | Gain equal to percentage increase in Index multiplied by Upside Participation Rate |
| Increase of equal to or greater than Adjusted Cap | Gain equal to the Cap |

---

**Gain or Loss before the End of a Term** 

Before the final Market Close of a Term, unless you have elected a Performance Lock, the Gain or Loss for the Term is equal to the Daily Value Percentage.

**Performance Lock** 

A Performance Lock is an election to lock in the Gain or Loss for the remainder of a Term. You may make a Performance Lock election for a Term by a Request in Good Order. Once we receive your Request in Good Order, a Performance Lock election for a Term cannot be changed or revoked.

ICC25-E1862725NW 2 [XX]

------

A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Gain or Loss before the end of the Term and the Gain or Loss at the end of the Term is equal to the Daily Value Percentage as determined for that second Market Close.

If you elect a Performance Lock, the Term will end on the earliest anniversary of the Term start date that is on or after the date that the Performance Lock is effective.

**Daily Value Percentage** 

The Daily Value Percentage is equal to:

1) the Net Option Price for the Strategy as of the most recent Market Close of the Term; minus

2) the Residual Option Cost as of the most recent Market Close of the Term; and minus

3) the Trading Cost.

**Net Option Price** 

If a Term does not have a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Put Option price calculated for the Market Close.

If a Term has a Cap, then the Net Option Price as of a Market Close is a percentage equal to:

1) the ATM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; minus

2) the OTM Call Option price calculated for the Market Close, multiplied by the Upside Participation Rate; and minus

3) the OTM Put Option price calculated for the Market Close.

**Residual Option Cost** 

The Residual Option Cost is a percentage equal to:

1) the Net Option Price for the Strategy calculated for the beginning of the Term; multiplied by

2) the number of days remaining until the final Market Close of the Term divided by 2192.

**Trading Cost** 

The Trading Cost is the estimated cost of selling the hypothetical option before the end of a Term to the extent that such cost is not already reflected in the Option Prices. It is a percentage set by us from time to time to reflect the average difference between the Option Prices and market bid prices.

**ATM Call Option** 

The ATM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term.

**OTM Call Option** 

The OTM Call Option is a hypothetical call option that will pay the holder an amount equal to the percentage increase, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage increase exceeds the Adjusted Cap for the Term.

**OTM Put Option** 

The OTM Put Option is a hypothetical put option that will pay the holder an amount equal to the percentage decrease, if any, in the Russell 2000 Index from the last Market Close on or before the start of the Term to the final Market Close of the Term, but only to the extent the percentage decrease exceeds the Buffer for the Term.

ICC25-E1862725NW 3 [XX]

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**Option Prices** 

The ATM Call Option, OTM Call Option, and OTM Put Option prices are calculated by us using an option pricing model for valuing an option. The price of each option is stated as a percentage of the value of the Russell 2000 Index at the last Market Close on or before the first day of the Term.

**Buffer** 

The Buffer is the decrease in the value of the Russell 2000 Index for a Term that is disregarded when determining the Loss for the Term. The Buffer for each Term of this Strategy is 20%.

**Upside Participation Rate** 

The Upside Participation Rate is the portion of the increase in the Russell 2000 Index for a Term taken into account when determining the Gain for the Term. We will set the Upside Participation Rate for each initial or renewal Term of this Strategy before the first day of that Term. For a given Term, we may set a different Upside Participation Rate for amounts attributable to Purchase Payments received on different dates. The Upside Participation Rate for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Cap** 

The Cap is the largest possible Gain for the Term. We may set a Cap for any initial or renewal Term of this Strategy. If we set a Cap for a Term of this Strategy, we will set the Cap before the first day of that Term. For a given Term, we may set a different Cap for amounts attributable to Purchase Payments received on different dates. A Cap for each Term of this Strategy shall never be less than the minimum shown in the Endorsement Specifications.

**Adjusted Cap** 

The Adjusted Cap is the largest increase in the Russell 2000 Index for a Term taken into account, when determining the Gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

**Merger of Crediting Strategies** 

At the end of a Term, this Strategy shall merge into and become a part of the Russell 2000 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. If at the end of a Term there is no Russell 2000 1-Year Indexed Strategy available, then this Strategy shall merge into and become a part of the S&P 500 1-Year Indexed Strategy designated by the Company on a nondiscriminatory basis. Unless moved under the reallocation provision of the Contract, the value of this Strategy at the end of a Term shall be applied to a new Term of such 1-Year Indexed Strategy.

**Index Information** 

The Russell 2000<sup>®</sup> Index is designed to provide a measure of the small-cap segment of the US equity market. The value of the index excludes any dividends that may be paid by the firms that comprise the Index.

**[MassMutual Ascend Life Insurance Company ("MassMutual Ascend") products are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies.** 

**All rights in the FTSE Russell Index ("the Index") vest in the relevant LSE Group company which owns the Index. Russell<sup>®</sup> is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.** 

**The Index is calculated by or on behalf of Frank Russell Company or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the MassMutual Ascend product(s). The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the MassMutual Ascend product(s) or the suitability of the Index for the purpose to which it is being put by MassMutual Ascend Life Insurance Company.]** 

ICC25-E1862675NW 4 [XX]

## Exhibit 99.27

**Form of Initial Summary Prospectus** 

**MASSMUTUAL ASCEND LIFE INSURANCE COMPANY** 

**INDEX SUMMIT 6 PRO ANNUITY** 

**With Death Benefit Return of Premium Guarantee** 

**SUMMARY PROSPECTUS FOR NEW INVESTORS** 

**[ ]** 

This Summary Prospectus summarizes key features of the Contract.

Before you invest, you should also review the prospectus for the Contract, which contains more information about the Contract's features, benefits, and risks. You can find this document and other information about the Contract online at www.MassMutualAscend.com/RILArates. You can also obtain this information at no cost by calling 1-800-789-6771 or by sending a written request to us at the following address:

MassMutual Ascend Life Insurance Company

Administrative Office: P.O. Box 5423, Cincinnati OH 45201-5423

**You may cancel your Contract within 20 days after you receive it. If you purchase a Contract to replace an existing annuity contract or insurance policy, you have 30 days to cancel the Contract. The right to cancel period may be longer in some states. Upon cancellation, in most states you will receive a full refund of the amount you paid for the Contract. In some states, you will receive your total Account Value as calculated using the Daily Value Percentage, plus fees and charges, which may be more or less than the amount you paid for the Contract. The right to cancel is described more fully in the Right to Cancel section of this prospectus. You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.** 

**NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.** 

Additional information about certain investment products, including index-linked annuities, has been prepared by the Securities and Exchange Commission's staff and is available at *Investor.gov.*

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**Contents** 

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| | |
|:---|:---|
|  [SPECIAL TERMS](#ropisp947355_1) | 3.0 |
|  [OVERVIEW OF THE CONTRACT](#ropisp947355_2) | 6.0 |
|  [IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT](#ropisp947355_3) | 9.0 |
|  [BENEFITS AVAILABLE UNDER THE CONTRACT](#ropisp947355_4) | 15.0 |
|  [BUYING THE CONTRACT](#ropisp947355_5) | 16.0 |
|  [MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT](#ropisp947355_6) | 18.0 |
|  [ADDITIONAL INFORMATION ABOUT FEES](#ropisp947355_7) | 20.0 |
|  [APPENDIX A: INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT](#ropisp947355_8) | 21.0 |

---

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**SPECIAL TERMS** 

In the prospectus, the following capitalized terms have the meanings set out below.

ACCOUNT VALUE. For each day, the Account Value is the sum of the current values of each Indexed Strategy, plus the current value of the Purchase Payment Account, if any.

ADJUSTED CAP. For a Combination Strategy, the Adjusted Cap is the largest increase in the Index for a Term that is taken into account when determining the gain for the Term. It is equal to the Cap for the Term divided by the Upside Participation Rate for the Term.

ANNUITANT. The natural person or persons on whose life the Annuity Payout Benefit is based.

ANNUITY PAYOUT BENEFIT. A series of periodic payments made under a Payout Option. The terms and conditions are described in the Annuity Payout Benefit section of this prospectus.

ANNUITY PAYOUT INITIATION DATE. The first day of the first payment interval for which payment of an Annuity Payout Benefit is to be made. This is the date we apply your Account Value to the Annuity Payout Benefit and calculate the payment amount.

BENEFICIARY. A person entitled to receive all or part of a Death Benefit that is to be paid under the Contract on account of a death before the Annuity Payout Initiation Date.

BUFFER. For an Indexed Strategy with a Buffer (a "Buffer Strategy"), the Buffer is the decrease in the value of an Index for a Term that is disregarded when determining the loss for the Term. The Buffer is also used to determine the strike price of the out-of-the-money put option that is part of the Daily Value Percentage calculation before the end of the Term. For each Term of the Buffer Strategy that we currently offer with this Contract, the Buffer is either 10% or 20%. In the future, we may offer a new Buffer Strategy with more or less protection against loss than a 10% or 20% Buffer, but we will not offer a new Buffer Strategy with less protection against loss than a 5% Buffer.

CAP. For an Indexed Strategy with a Cap (either a "Cap Strategy" or, if it also has an Upside Participation Rate, a Combination Strategy), the Cap is the maximum increase in the Strategy value over the course of a Term. The Cap (or for a Combination Strategy, the Adjusted Cap) is also used to determine the strike price of the out-of-the-money call option that is part of the Daily Value Percentage calculation for that Strategy before the end of the Term. We post on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) the Cap for each Term of a Cap Strategy or Combination Strategy at least 10 days before the next Term starts. The Cap for a Term will never be less than 1%.

COMBINATION STRATEGY. An Indexed Strategy with both an Upside Participation Rate and a Cap.

CONTRACT. The annuity contract (including applicable endorsements and riders) that is a legally binding agreement between you and MassMutual Ascend Life. In this prospectus, "Contracts" refers to all Index Summit 6 Pro Annuity contracts.

CONTRACT ANNIVERSARY. The date in each year that is the anniversary of the Contract Effective Date. That date is set out in the Contract Specifications of your Contract.

CONTRACT EFFECTIVE DATE. The date as of which the initial Purchase Payment is applied to the Contract. That date is set out in the Contract Specifications of your Contract.

CONTRACT SPECIFICATIONS. The section of your Contract that contains details unique to your Contract.

CONTRACT YEAR. A 12-month period that starts on the Contract Effective Date or on a Contract Anniversary.

DAILY CHARGE. The charge for maintaining your Contract, which is calculated as a percentage of the remaining Investment Base of each Indexed Strategy. The Daily Charge is subtracted daily from the Investment Base. Except as provided in the next sentence, the Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.95% per year. The Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.75% per year if your Contract was issued (1) before May 7, 2024; or (2) before June 7, 2024, and your application was signed before May 7, 2024.

DAILY CHARGE FACTOR. The daily rate, that when compounded over a Term, will result in an effective annual rate equal to the Daily Charge annual rate.

DAILY VALUE PERCENTAGE. The Daily Value Percentage is used to determine the value of an Indexed Strategy before the end of a Term. The calculation of Strategy value using the Daily Value Percentage is relevant only if amounts allocated to an Indexed Strategy are not held to the end of the Term due to withdrawals, Surrender of the Contract, annuitization, a Performance Lock election, or a Death Benefit becomes payable. A negative Daily Value Percentage adjustment could result in significant loss, even if the Index is performing positively. For each day of a Term of an Indexed Strategy before the final Market Day of the Term, the Daily Value Percentage is equal to: (1) the Net Option Price for that day; minus (2) the Residual Option Cost for that day; and minus (3) the Trading Cost for that day.

DEATH BENEFIT. An amount that becomes payable if you die before the Annuity Payout Initiation Date and before the date that the Contract is Surrendered. The terms and conditions are described in the Death Benefit section of this prospectus.

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DOWNSIDE PARTICIPATION RATE. For an Indexed Strategy with a Downside Participation Rate (a "Downside Participation Rate Strategy"), the Downside Participation Rate is your share of any fall in the Index for a Term taken into account to determine the Strategy value at the end of the Term. The Downside Participation Rate is also used to determine the Net Option Price that is part of the Daily Value Percentage calculation before the end of the Term. For every Term of each Downside Participation Rate Strategy that we currently offer with this Contract, the Downside Participation Rate is 50%. In the future, we may offer a new Downside Participation Rate Strategy with more or less protection against loss than a 50% Downside Participation Rate, but we will not offer a new Downside Participation Rate Strategy with less protection against loss than a 75% Downside Participation Rate.

EARLY WITHDRAWAL CHARGE. A charge deducted from the Account Value of your Contract if, during the first six Contract Years, you Surrender your Contract or you take a withdrawal (including systematic withdrawals and required minimum distributions) in excess of the Free Withdrawal Allowance. The Early Withdrawal Charge does not apply to a withdrawal that qualifies for the Free Withdrawal Allowance or the amount, if any, that qualifies for another waiver. The Early Withdrawal Charge does not apply to an Annuity Payout Benefit or Death Benefit.

FLOOR. For an Indexed Strategy with a Floor (a "Floor Strategy"), the Floor is the maximum decrease in the value of an Index for a Term that is taken into account when determining the loss for the Term. The Floor is also used to determine the strike price of the out-of-the-money put option that is part of the Daily Value Percentage calculation before the end of the Term. For each Term of a Floor Strategy that we currently offer with this Contract, the Floor is either -10% or 0%. In the future, we may offer a new Floor Strategy that offers more or less protection against loss than a -10% Floor but we will not offer a new Floor Strategy that offers less protection against loss than a -20% Floor.

FREE WITHDRAWAL ALLOWANCE. The total amount that may be taken as a withdrawal or Surrendered during a Contract Year without an Early Withdrawal Charge that might otherwise apply. This amount is described in the Free Withdrawal Allowance section of this prospectus.

INDEX. A stock market index or an exchange-traded fund (ETF) used to calculate the value of an Indexed Strategy. The Index at the start of a Term is its level or price at the Market Close on the first day of that Term. If the first day of that Term is not a Market Day, then the Index at the start of a Term is its level or price at the last Market Close before the first day of the Term. The Index at the end of a Term is its level or price at the final Market Close of that Term.

INDEXED STRATEGY (or STRATEGY). A crediting strategy that provides a return based, in part, on the net change in the level or price of an Index for a Term. The Indexed Strategies that are currently available are set out in "**Appendix A: Investment Options Available Under the Contract"**.

INVESTMENT BASE. The base amount used to calculate the value of an Indexed Strategy. The Investment Base is the amount applied to an Indexed Strategy at the start of a current Term, adjusted proportionally for any withdrawal during the Term and any related Early Withdrawal Charge. The Investment Base is reduced daily by an amount equal to the Daily Charge.

MARKET CLOSE. The close of the regular or core trading session on the market used to measure a given Index.

MARKET DAY. Each day that all markets that are used to measure the available Indexes are open for regular trading.

MASSMUTUAL ASCEND LIFE ("WE," "US," "OUR"). MassMutual Ascend Life Insurance Company.

NEGATIVE RETURN FACTOR. The Downside Participation Rate, Floor, or Buffer used to determine values for an Indexed Strategy at the end of the Term.

OWNER ("YOU," "YOURS"). The person(s) who possesses the ownership rights under the Contract. If there is more than one Owner, each Owner will be a joint owner of the Contract and each reference to Owner means joint owners.

PAYOUT OPTION. The form in which an Annuity Payout Benefit or a Death Benefit may be paid. Standard options are described in the Payout Options section of this prospectus.

PERFORMANCE LOCK. An election available for certain specified Indexed Strategies to lock in the Daily Value Percentage for the remainder of a Term of the Indexed Strategy. A Performance Lock election for a Term is effective on the second Market Close following our receipt of your Request in Good Order. After the second Market Close, the Indexed Strategy value before the end of the Term and the Indexed Strategy value at the end of the Term is equal to the remaining Investment Base increased or decreased by the locked Daily Value Percentage. The locked Daily Value Percentage is the Daily Value Percentage as determined for that second Market Close. The Indexed Strategy value will still change because of the Daily Charge or if there is another change in the Investment Base. You can make a Performance Lock election once per Term and only for specific Indexed Strategies.

POSITIVE RETURN FACTOR. A Cap, Upside Participation Rate, or Trigger Rate used to determine values for an Indexed Strategy at the end of the Term.

PURCHASE PAYMENT. An amount received by us for the Contract. This amount is determined after deducting any taxes withheld from the payment and after deducting any fee charged by the person remitting payment.

PURCHASE PAYMENT ACCOUNT. An account where a Purchase Payment is held until it is applied to an Indexed Strategy on a Strategy Application Date.

REQUEST IN GOOD ORDER. An election or a request that is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• complete and satisfactory to us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sent to us on our form or in a manner satisfactory to us, which may, at our discretion, be by telephone or
electronic means; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• received at our administrative office.

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An election or a request is complete and satisfactory when we have received: (1) all the information and legal documentation that we require to process the election or the request; and (2) instructions that are sufficiently clear that we do not need to exercise any discretion to process the election or the request. If you have any questions, you should contact us or your registered representative before submitting your election or your request.

STRATEGY APPLICATION DATE. The 6th and 20th days of each month.

SURRENDER. The termination of your Contract in exchange for its Surrender Value.

SURRENDER VALUE. For each day, the Surrender Value is the Account Value on that day minus the Early Withdrawal Charge that would apply on a Surrender of the Contract. The Account Value will reflect the applicable Strategy values as calculated on that day, which will reflect the Daily Value Percentage whenever Surrender Value is measured before the end of a Term.

TAX-QUALIFIED CONTRACT. An annuity contract that is intended to qualify for special tax treatment for retirement savings. If your Contract is a Tax-Qualified Contract, the cover page of your Contract includes information about its tax qualification. If your Contract is not a Tax-Qualified Contract, the cover page of your Contract will identify it as a "Nonqualified Annuity."

TERM. The period for which Contract values are allocated to a given Indexed Strategy, and over which values are calculated. Terms are one year long, two years long, three years long, or six years long. Each Term will start and end on a Strategy Application Date. A new Term will start on the date that the preceding Term ends.

TRIGGER RATE. For an Indexed Strategy with a Trigger Rate (a "Trigger Strategy"), the Trigger Rate is the specified rate that is credited to the Strategy value when the Index change (measured at the start and end of the Term) qualifies for the Trigger Rate. In the case of a Performance Trigger Strategy, the Trigger Rate will be credited when the Index change is zero or positive at the end of the Term. In the case of a Dual Performance Trigger Strategy, the Trigger Rate will be credited if the Index change is zero, positive, or negative up to the Buffer at the end of the Term. The Trigger Rate is also used to determine the binary call option that is part of the Daily Value Percentage calculation for that Strategy before the end of the Term. We post on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) the Trigger Rates for each Term of a Trigger Strategy at least 10 days before the next Term starts. The Trigger Rate for a Term will never be less than 1%.

UPSIDE PARTICIPATION RATE. For an Indexed Strategy with an Upside Participation Rate (an "Upside Participation Rate Strategy" or, if it also has a Cap, a Combination Strategy), the Upside Participation Rate is your share of any rise in the Index for a Term taken into account to determine the Strategy value at the end of the Term. The Upside Participation Rate is also used to determine the Net Option Price that is part of the Daily Value Percentage calculation before the end of the Term. We post on our website (<u>www.massmutualascend.com/index-summit-6-pro</u>) the Upside Participation Rate for each Term of an Upside Participation Rate Strategy or Combination Strategy at least 10 days before the next Term starts. The Upside Participation Rate for a Term will never be less than 5%. For example, if the Index return is 10% and the Upside Participation Rate is 5%, then your Indexed Strategy value will only increase by 0.5% (10% times 5%).

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**OVERVIEW OF THE CONTRACT** 

**Purpose** 

The MassMutual Ascend Life Index Summit 6 Pro annuity is an individual modified single premium deferred indexed annuity contract that may help you accumulate retirement savings. The Contract is intended for long-term investment purposes. The Contract is a legal agreement between you as the Owner and MassMutual Ascend Life as the issuing insurance company. In the Contract, you agree to make one or more Purchase Payments to us, and we agree to pay the Annuity Payout Benefit to you. If there is an applicable death before the Annuity Payout Initiation Date, we also agree to pay a Death Benefit that will never be less than the Return of Premium Guarantee. The Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to access invested funds within a short-term timeframe or frequently.

Like all deferred annuities, the Contract has two periods. During the **Accumulation Period** (the period prior to the Annuity Payout Initiation Date), the Contract may accumulate earnings on a tax-deferred basis. During the **Annuity Payout Period** that begins on the Annuity Payout Initiation Date, we will make payments under the applicable Payout Option.

The Contract may not be available in all states, and may vary in your state. See Appendix C in the prospectus for state variations. The Contract may not be available through all selling firms or all financial professionals. Some selling firms or financial professionals may not make all Indexed Strategies available for your Purchase Payment allocations. See Appendix D in the prospectus for financial intermediary variations.

**Accumulation Period** 

During the Accumulation Period, the amounts you contribute can be allocated among any of the then available Indexed Strategies and may accumulate earnings on a tax-deferred basis. **Additional information about each Indexed Strategy is available in "Appendix A: Investment Options Available Under the Contract".**

The Company will credit gain or loss at the end of the Term to amounts allocated to an Indexed Strategy based, in part, on the performance of the Index. The Owner bears the risk of any gain or loss on amounts allocated to the Indexed Strategies and could lose a significant amount of money if the index declines in value.

The Company limits the negative Index return used in calculating loss for an Indexed Strategy at the end of its Term through the use of one of three Negative Return Factors: a Downside Participation Rate, a Buffer, or a Floor. The Negative Return Factors are generally designed to limit the reduction in the value of the Indexed Strategies at the end of a Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Downside Participation Rate** is the portion of any negative Index change that will decrease your Strategy
value at the end of the Term. A 50% Downside Participation Rate causes a decrease in Strategy value at the end of the Term equal to 50% of the negative Index change. For example, if the Index return over the Term is -18%, the value of an Indexed Strategy with a Downside Participation Rate of 50% will decrease by 9% for the Term (50% of the negative Index change).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Buffer** is the negative Index change to be disregarded when determining Strategy value at the end of the
Term. An Indexed Strategy with a 10% Buffer means that your Strategy value will not be affected by the first 10% of any negative Index change, but your Strategy value will decrease by any negative return in excess of -10%. An Indexed Strategy with a 20% Buffer causes the Company to assume the first 20% of any negative Index change, but your Strategy value will decrease by any negative return in excess of -20%. For example, if the Index return over the Term is -18% the value of an Indexed Strategy with a 10% Buffer will decrease by 8% for the Term (the amount that exceeds the
Buffer). If the Index return over the Term is -18%, the value of an Indexed Strategy with a 20% Buffer will not change for the Term (there is no amount that exceeds the Buffer).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Floor** is the maximum percentage decrease in your Strategy value at the end of the Term if there is a
negative Index change. An Indexed Strategy with a -10% Floor limits the loss from any negative Index change to 10% when determining the Strategy value at the end of the Term. An Indexed Strategy with a 0%
Floor eliminates all loss from any negative Index change when determining the Strategy value at the end of the Term. For example, if the Index return over the Term is -18% and the Floor is -10%, the value of an Indexed Strategy with a -10% Floor will decrease by 10% for the Term (the maximum loss allowed under the Floor).

For each Indexed Strategy, the Indexed Strategy value will also be reduced by the Daily Charge.

**We may stop offering any Indexed Strategy at the end of a Term; however, we will always offer the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.** 

The Company limits the positive Index return used in calculating gain for an Indexed Strategy at the end of its Term through the use of three Positive Return Factors: a Cap, an Upside Participation Rate, or a Trigger Rate. A Combination Strategy may use both an Upside Participation Rate and a Cap. The Positive Return Factors are generally designed to limit the increase in the value of the Indexed Strategies at the end of a Term. **You may earn less than the Index returns with a Cap, an Upside Participation Rate, or a Trigger Rate.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Cap** is the maximum increase in Strategy value over the course of the Term. For example, if the Index
return over the Term is 16% (measured from the beginning of the Term to the end of the Term), the value of an Indexed Strategy with a 10% Cap will increase by 10% for the Term (the maximum allowed under the Cap). For a Combination Strategy, the Cap
is applied after application of the Upside Participation Rate. **For any Cap Strategy, the Cap will vary from Term to Term, but will never be less than 1%.** 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An **Upside Participation Rate** is the portion of any positive Index change (measured from the beginning of
the Term to the end of the Term) that is taken into account to determine the Strategy value at the end of the Term. For example, if the Index return over the Term is 16%, at the end of the Term the value of an Indexed Strategy with a 75% Upside
Participation Rate will increase by 12% for the Term (75% of the increase in the value of the Index). For a Combination Strategy, the Upside Participation Rate is applied prior to application of the Cap. **For any Upside Participation Rate Strategy, the Upside Participation Rate will vary from Term to Term, but will never be less than 5%.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A **Trigger Rate** for a Performance Trigger Strategy is the specified increase in the Strategy value when the
Index change is zero or positive at the end of the Term. The Trigger Rate for a Dual Performance Trigger Strategy is the specified increase in the Strategy value when the Index change is zero, positive, or negative up to the Buffer at the end of the
Term. For example, if the index return over the Term is 16%, the value of an Indexed Strategy with an 11% Trigger Rate will increase by 11% for the Term (the Trigger Rate). **For any Trigger Strategy, the Trigger Rate will vary from Term to Term, but will never be less than 1%.** 

**You may earn less than the Index returns with a Cap, an Upside Participation Rate, a combination thereof, or a Trigger Rate.** 

**Annuity Payout Period** 

The Annuity Payout Period begins when you annuitize your Contract effective on the Annuity Payout Initiation Date. When you annuitize your Contract, we promise to pay a stream of Annuity Payout Benefit payments for the duration of the period selected. Once Annuity Payout Benefit payments start, you can no longer Surrender the Contract or take a withdrawal, no Death Benefit will be payable under your Contract, your Beneficiary designations will no longer apply, and the Indexed Strategies will no longer be available. The amount payable after death, if any, is governed by the Payout Option you select.

**Contract Features** 

**Annuity Payout Benefit** *(see "Annuity Payout Benefit" in the prospectus for more details)*

When the Contract is annuitized, we promise to pay a stream of Annuity Payout Benefit payments for the duration of the period selected.

**Death Benefit** *(See "Death Benefit" in the prospectus for more details)*

For no additional cost, the Contract includes a Death Benefit Return of Premium Guarantee. If you die before the Annuity Payout Initiation Date and before the Contract is Surrendered, we will pay a Death Benefit equal to the greater of the Account Value determined as of the date that the Death Benefit value is determined or the Return of Premium Guarantee. The Death Benefit Return of Premium Guarantee is equal to your Purchase Payments (the "Purchase Payment base"), reduced proportionally for all withdrawals.

**Access to Your Money** *(See "Cash Benefit" in the prospectus for more details)* 

You may Surrender your Contract or take a withdrawal from your Contract at any time before the earlier of (1) the Annuity Payout Initiation Date; or (2) a death for which a Death Benefit is payable. The right to Surrender or take a withdrawal may be restricted if your Contract is purchased under an employer plan subject to IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuity plans), or IRC Section 457(b) (governmental deferred compensation plans).

During the first six Contract Years, an Early Withdrawal Charge will apply unless (a) your withdrawal qualifies for the Free Withdrawal Allowance or (b) the withdrawal qualifies for a waiver (as explained in the "Early Withdrawal Charge—Early Withdrawal Charge Waiver" section).

The amount paid upon Surrender is the Surrender Value. A withdrawal from an Indexed Strategy will reduce the Account Value by the amount of the withdrawal, including any taxes and any applicable Early Withdrawal Charge. If you Surrender your Contract or take a withdrawal from an Indexed Strategy on a day that is not the end of a Term, the Strategy value will be calculated using the Daily Value Percentage of the Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term.

A withdrawal from an Indexed Strategy will reduce the Investment Base and the Death Benefit Return of Premium Guarantee by an amount that is proportional to the reduction in the Strategy value. If the Daily Value Percentage is negative, these proportional reductions could be significantly larger than the dollar amount of the withdrawal. A reduction in the Investment Base for a Term will reduce the gain from any future rise in the Index during that Term.

You may designate the Crediting Strategy or Strategies from which a withdrawal will be taken by a Request in Good Order prior to the date of the withdrawal. If you do not make a designation, we will take the withdrawal in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• first proportionally from funds, if any, that then qualify for a waiver of the Early Withdrawal Charge pursuant
to the provisions of the Indexed Strategy endorsement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then from the Purchase Payment Account; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then proportionally from Indexed Strategies having the shortest Terms (meaning the withdrawal will be taken
proportionally from Indexed Strategies with 1-year Terms, and then proportionally from Indexed Strategies with 2-year Terms, and then proportionally from Indexed
Strategies with 3-year Terms, and finally from Indexed Strategies having 6-year Terms).

A withdrawal will reduce the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit.

The amount withdrawn or paid on a Surrender is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of a withdrawal may also be subject to an additional 10% federal penalty tax.

**Free Withdrawal Allowance** *(See "Free Withdrawal Allowance" in the prospectus for more details)* 

The Early Withdrawal Charge does not apply to an amount equal to the Free Withdrawal Allowance. For the first Contract Year, the Free Withdrawal Allowance is an amount equal to 10% of the total Purchase Payments received by us. For each subsequent Contract Year, the Free Withdrawal Allowance is equal to 10% of the Account Value as of the most recent Contract Anniversary.

**Automated Withdrawals** *(See "Automated Withdrawals" in the prospectus for more details)* 

You may elect to withdraw money from your Contract under any automated withdrawal program that we offer. Your Account Value must be at least $10,000 in order to make an automated withdrawal election. The minimum amount of each automated withdrawal payment is $100. Automated withdrawals will be taken from the Purchase Payment Account and Indexed Strategies of your Contract in the same order as any other withdrawal. **The Contract is intended for long-term investment purposes and the Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years, because of the assessment of Early Withdrawal Charges, or who plan to take withdrawals during Indexed Strategy Terms, because of the application of the Daily Value Percentage.**

**Performance Lock** *(See "Indexed Strategy Value After Performance Lock Election" in the prospectus for more details)*

A Performance Lock allows you to lock in the Daily Value Percentage of an eligible Indexed Strategy for the remainder of a Term. You may make a Performance Lock election for any Term or Terms of the S&P 500 Indexed Strategies (excluding the 0% Floor Cap Strategy and the three Trigger Strategies) and the First Trust Barclays Edge Indexed Strategies. For Contracts with a Contract Effective Date on or after May 21, 2025, you may also make a Performance Lock election for any Term or Terms of the Russell 2000 Indexed Strategies. A Performance Lock election is not available for Contracts issued in Missouri with a Contract Effective Date before May 21, 2025.

If you make a Performance Lock election, the Daily Value Percentage will be locked for the balance of the Term. This means that you will experience flat performance through the balance of the Term even if the Net Option Value increases, you will not benefit from the continued decline in the Daily Value Percentage, and your ending Strategy value will not be based on the ending Index value on the last day of the Term. As a result, the locked-in Strategy value could be lower than the value you otherwise would have received at the end of the Term. If the Daily Value Percentage is negative at the time of the Performance Lock election, you could be locking in a loss which could be significant.

A Performance Lock election is not effective until the second Market Close after receipt of your Request in Good Order. **As a result, you will not be able to determine in advance the locked Daily Value Percentage that will apply to the Indexed Strategy at the time you make a Performance Lock election. The Daily Value Percentage at the time the Performance Lock election becomes effective may be higher or lower than it was at the time you submitted your election.**

**Terminal Illness and Extended Care Waivers** *(see "Early Withdrawal Charge Waivers" in the prospectus for more details)*

In states where permitted, for no additional charge we will waive the Early Withdrawal Charge for all withdrawals and on Surrender of the Contract if the Annuitant or Owner is diagnosed with a terminal illness, as defined by the Waiver, or is confined to a hospital or other long term care facility, and certain other conditions are met. Withdrawals and surrenders under these waivers may still trigger a Daily Value Percentage adjustment and taxes, and if before age 59<sup>1</sup>⁄<sub>2</sub>, a penalty tax.

**Tax Treatment** *(see "Federal Tax Considerations" in the prospectus for more details)*

Your Purchase Payments accumulate value on a tax-deferred basis. Your earnings are not taxed until money is withdrawn from the Contract, such as when you make a withdrawal from or surrender your Contract, or receive an annuity payment from the Contract, or a death benefit is paid.

**Daily Value Percentage Adjustment** 

Each day before the final Market Day of a Term the value of an Indexed Strategy is equal to the Investment Base increased or decreased by the Daily Value Percentage. Before the end of a Term, if you take a withdrawal, Surrender or annuitize the Contract, elect a Performance Lock, or a Death Benefit becomes payable, the application of the Daily Value Percentage adjustment may cause your losses to exceed the 0% Floor, the -10% Floor, or the 50% Downside Participation Rate or you will not receive the benefit of the 10% Buffer or 20% Buffer. You could lose a significant amount of money due to a Daily Value Percentage adjustment if amounts are removed from an Indexed Strategy before the end of a Term. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable.** 

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**IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT** 

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| | | |
|:---|:---|:---|
|  | **FEES, EXPENSES AND ADJUSTMENTS** | **Location in Prospectus** |
| **Are There Charges or Adjustments for Early Withdrawals?** | **Yes.** <br>*Early Withdrawal Charge.* If you withdraw money from or Surrender your Contract within the first 6 Contract Years, you may be assessed an Early Withdrawal Charge of up to 9% of the amount withdrawn or Surrendered. For example, if you make a withdrawal from or Surrender your Contract within the first 6 Contract Years, you could pay an Early Withdrawal Charge of up to $9,000 on a Contract with an Account Value of $100,000. This loss will be greater if there is a negative Daily Value Percentage adjustment, you also have to pay taxes and, if before age 59<sup>1</sup>/<sub>2</sub>, you are subject to a penalty tax. <br>*Daily Value Percentage.* The Daily Value Percentage is used to determine the value of an Indexed Strategy before the end of a Term. If before the end of a Term you take a withdrawal from an Indexed Strategy, Surrender or annuitize the Contract, elect a Performance Lock, or a Death Benefit becomes payable, the application of the Daily Value Percentage adjustment may result in losses in excess of any Floor, Buffer or Downside Participation Rate applicable to the Indexed Strategy. This loss will be greater if you also have to pay an Early Withdrawal Charge, taxes and, if before age 59<sup>1</sup>⁄<sub>2</sub>, you are subject to a penalty tax. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would lose 100% of your principal and prior earnings in that Strategy if, before the end of the Term, you were to Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable**. **For example, if you allocate $100,000 to an Indexed Strategy with a 6-year Term and Surrender the Contract before the 6 years have ended, you could lose up to $100,000 of your investment.** | **FEE TABLE**<br>**CHARGES AND ADJUSTMENTS**<br>**PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** |
| **Are There Transaction Charges?** | **Yes.** In addition to Early Withdrawal Fees and the Daily Value Percentage, we reserve the right to charge up to $30 annually if you elect to receive Automated Withdrawals. We do not currently charge for Automated Withdrawals. | **FEE TABLE**<br>**CHARGES AND ADJUSTMENTS** |
| **Are There Ongoing Fees and Expenses?** | **Yes.** The table below describes the fees and expenses that you will pay each year during the Accumulation Phase of your Contract. Please refer to your Contract specifications for information about the specific fees you will pay each year.<br>**In addition, there is an implicit ongoing fee on Indexed Strategies to the extent that your participation in Index gains is limited by the Company through the use of a Cap, Upside Participation Rate, or Trigger Rate. This means that your returns may be lower than the Index's returns. In return for accepting this limit on Index gains, you will receive some protection from Index losses. This implicit ongoing fee is not reflected in the table below.** | **FEE TABLE**<br>**INDEXED STRATEGIES** |

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| | | |
|:---|:---|:---|
| **Annual Fee** | **Minimum** | **Maximum** |
|  **Contracts Issued before June 7, 2024, with application signed before May 7, 2024** | **Contracts Issued before June 7, 2024, with application signed before May 7, 2024** | **Contracts Issued before June 7, 2024, with application signed before May 7, 2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daily Charge Rate <sup>(1)</sup> | 0.75% | 0.75% |
|  **All other Contracts** | **All other Contracts** | **All other Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daily Charge Rate <sup>(1)</sup> | 0.95% | 0.95% |

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<sup>(1)</sup> As a percentage of the remaining Investment Base of each Indexed Strategy. 

To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay *each year*, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, **which could add Early Withdrawal Charges and potential negative Daily Value Percentage adjustments that could substantially increase costs.**

**<u>Contracts Issued before June 7, 2024, with application signed before May 7, 2024</u>**

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| | |
|:---|:---|
| **Lowest Annual Cost: $787.50** | **Highest Annual Cost: $787.50** |
| Assumes | Assumes |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.75% Daily Charge | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.75% Daily Charge |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional purchase payments, transfers or withdrawals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional purchase payments, transfers or withdrawals |

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**<u>All other Contracts</u>**

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| | |
|:---|:---|
| **Lowest Annual Cost: $997.50** | **Highest Annual Cost: 997.50** |
| Assumes | Assumes |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment of $100,000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% annual appreciation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.95% Daily Charge | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.95% Daily Charge |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional purchase payments, transfers or withdrawals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No additional purchase payments, transfers or withdrawals |

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| | | |
|:---|:---|:---|
|  | **RISKS** | **Location in Prospectus** |
| **Is There a Risk of Loss from Poor Performance?** | **Yes.** You can lose money by investing in the Contract including loss of principal and previous earnings.<br>**Under the Indexed Strategies,** t**he maximum amount of loss you may experience due to negative Index performance at the end of a Term would be: 90% loss for a 10% Buffer Strategy; 80% loss for a 20% Buffer Strategy; 10% loss for a -10% Floor Strategy; or 0% loss for a 0% Floor Strategy. At the end of a Term for a Downside Participation Rate Strategy, you could lose up to 50% of your original principal and prior earnings. Losses exceeding these amounts may happen before the end of a Term. We will always offer an Indexed Strategy with a 50% Downside Participation Rate.**  | **PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** |
| **Is this a Short-Term Investment?** | **No.** The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash.<br>• Amounts withdrawn from the Contract may result in Early Withdrawal Charges and taxes and, if before age 59 <sup>1</sup>⁄<sub>2</sub>, may be subject to a penalty tax. | **PRINCIPAL RISKS OF INVESTING IN THE**<br> **CONTRACT**<br>**CHARGES AND ADJUSTMENTS** |

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| | | |
|:---|:---|:---|
|  | • Amounts removed from an Indexed Strategy before the end of a Term may also result in a negative Daily Value Percentage and loss of positive Index performance. **In extreme circumstances, an Indexed Strategy could have no value before the end of a Term due to the Daily Value Percentage, meaning that you would lose 100% of your principal and prior earnings in that Strategy if, before the end of the Term, you were to Surrender your Contract, annuitize it, or elect a Performance Lock, or a Death Benefit becomes payable.**<br>• Withdrawals from an Indexed Strategy before the end of a Term will proportionally reduce the Investment Base for the Indexed Strategy and this proportional reduction could be larger than the dollar amount of the withdrawal.<br>• At the end of a Term, ending values of the Strategies for that Term will be reallocated according to your instructions. If you do not send us a reallocation request, your current allocations will automatically continue in the new Term as long as the same Index Strategies are available. If an amount cannot be applied to a new Term of that same Indexed Strategy because the Strategy will not be available or because the amount is under the minimum or over the maximum for that Strategy, we will reallocate that amount to another Crediting Strategy as described in the Default Strategy Allocations section of this prospectus. | **STRATEGY SELECTIONS AT**<br> **TERM END**<br>**DEFAULT STRATEGY ALLOCATIONS** |
| **What Are the Risks Associated with the Investment Options?** | An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Indexed Strategies available under the Contract. Each Indexed Strategy will have its own unique risks. You should review the Indexed Strategies before making an investment decision.<br>A Cap, Upside Participation Rate, combination thereof, or Trigger Rate may limit positive Index returns (e.g., limited upside). **You may earn less than the Index returns due to a Cap, Upside Participation Rate, combination thereof, or Trigger Rate.** <br>• The gain for a Term of an Indexed Strategy with a **Cap** is limited to the Cap. For example, if the Index return over the Term is 16% and the Cap for the Strategy is 10%, the gain for the Term is limited to 10%. For Combination Strategies, the Cap is applied after application of the Upside Participation Rate.<br>• The gain for a Term of an Indexed Strategy with an **Upside Participation Rate** is limited by the Upside Participation Rate if the Upside Participation Rate is less than 100%. For example, if the Index return over the Term is 16% and the Upside Participation Rate for the Strategy is 75%, the gain for the Term is limited to 12% (75% of the increase in the value of the Index). For Combination Strategies, the Upside Participation Rate is applied prior to application of the Cap.<br>• The gain for a Term of an Indexed Strategy with a **Trigger Rate** is limited to the Trigger Rate. For example, if the Index return over the Term is 16% and the Trigger Rate for the Strategy is 11%, the gain for the Term is limited to 11% (the Trigger Rate). | **PRINCIPAL RISKS OF INVESTING IN THE CONTRACT**<br>**INDEXED STRATEGIES** |

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| | | |
|:---|:---|:---|
|  | The Downside Participation Rate, Buffer or Floor will limit negative Index returns (e.g., limited protection in the case of market decline). For example:<br>• The loss for a Term of an Indexed Strategy with a **Downside Participation Rate** is limited by the Downside Participation Rate. For example, if the Index return over the Term is -18% and the Downside Participation Rate is 50%, the loss for the Term is limited to 9% (50% of the negative Index change).<br>• The loss for a Term of an Indexed Strategy with a **Buffer** is limited to the portion of the loss which exceeds the Buffer. For example, if the Index return over the Term is -18% and the Buffer is 10%, the loss for the Term is limited to 8% (the amount that exceeds the Buffer).<br>• The loss for a Term of an Indexed Strategy with a **Floor** is limited to the Floor. For example, if the Index return is -18% and the floor is -10%, the loss for the Term is limited to 10% (the maximum loss under the Floor).<br>Each Index other than the First Trust Barclays Edge Index is a "price return index," not a "total return index," and therefore does not reflect the dividends paid on the securities composing the Index. This will reduce the Index return for those Indices and will cause their Index returns to underperform a direct investment in the securities composing the Index. The First Trust Barclays Edge Index deducts fees and costs when calculating Index performance, which will also reduce the Index return and cause their Index returns to underperform a direct investment in the securities composing the Index. |  |
| **What Are the Risks Related to the Insurance Company?** | An investment in the Contract is subject to the risks related to the Company. Any obligations (including obligations under the Indexed Strategies), guarantees, or benefits are subject to the claims paying ability of the Company. Additional information about the Company, including its financial strength ratings, is available upon request by calling 1-800-789-6771. | **PRINCIPAL RISKS OF INVESTING IN THE CONTRACT** |
|  | **RESTRICTIONS** | **Location in Prospectus** |
| **Are There Limits on the Investment Options?** | **Yes.**<br>**Purchase Payments.**<br>• Additional Purchase Payments after the Initial Purchase Payment are only permitted during the purchase payment period, which ends two months after the Contract Effective Date. Unless we agree, an additional Purchase Payment cannot be less than the minimum set out in the Contract Specifications section of your Contract, and cannot cause the total Purchase Payments to exceed the maximum set out in the Contract Specifications section of your Contract.<br>**Transfers and Reallocations.**<br>• You cannot reallocate your value among Crediting Strategies during a Term. | **PURCHASING THE CONTRACT**<br>**INITIAL STRATEGY SELECTIONS**<br>**DEFAULT STRATEGY ALLOCATIONS**<br>**INDEX REPLACEMENTS** |

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| | | |
|:---|:---|:---|
|  | **Investment Restrictions.**<br>• The 6-Year Indexed Strategies are only available for a Term that starts in the first Contract Year.<br>• The 3-Year Indexed Strategies are only available for Terms that begin before the end of the fourth Contract Years.<br>**Our right to change the Indexed Strategies or Indexes**<br>• In the future, we may offer new Indexed Strategies. Any new Buffer Strategy will offer protection against loss at least equal to a 5% Buffer. Any new Floor Strategy will offer protection against loss at least equal to a -20% Floor. Any new Downside Participation Rate Strategy will offer protection against loss at least equal to a 75% Downside Participation Rate.<br>• For each future Term, we may modify the Positive Return Factor rate for any Indexed Strategy.<br>• At the end of a Term, we may stop offering any Indexed Strategy other than the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy, which will always be available.<br>• For future Terms, we may impose minimum or maximum allocations on an Indexed Strategy. No minimum or maximum shall apply to the S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy.<br>• We have the right to replace or adjust an Index or rate, or the specified market to measure it, if the external market index or rate stops being published or the publication schedule is changed, the calculation of the external market index or rate is changed significantly, the investment fund terminates or there is a significant change in its investment objectives, strategies, or operations, the investment fund or commodity stops being traded on a specified market or the specified market declines in importance, we lose our license or permission to use the index or rate, we determine that hedging instruments are difficult to acquire or the cost of hedging becomes excessive, or under other circumstances approved by regulators. We may do so at the end of a Term or during a Term. The performance of the new or adjusted Index may not be as good as the performance of the old Index. As a result, funds allocated to an Indexed Strategy may earn a return that is lower than the return they would have earned or experience losses greater than the losses they would have experienced if there had been no replacement or adjustment. |  |
| **Are There Restrictions on Contract Benefits?** | **Yes.**<br>• A withdrawal must be at least $500 and cannot reduce the Account Value to less than the Minimum Required Value set out in the Contract Specifications section of your Contract.<br>• An annuitization cannot occur before the first Contract Anniversary. An annuitization for a fixed period cannot be for less than the Minimum Fixed Period Payout set out in the Contract Specifications section of your Contract. Payment amounts under any option must be at least $50 or such higher amount as we may set from time to time. | **DEATH BENEFIT**<br>**ANNUITY PAYOUT BENEFIT**<br>**INDEXED STRATEGY VALUE AFTER PERFORMANCE LOCK ELECTION** |

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| | | |
|:---|:---|:---|
|  | • A withdrawal will reduce the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit.<br>• If you elect a Performance Lock, you will not be able to reallocate the locked value until the end of a Term.<br>• If you make a Performance Lock election for an Indexed Strategy with a 2-year, 3-year, or 6-year Term, the Term will always end on the next anniversary of the Term start date even if it otherwise would have continued for one or more additional years. |  |
|  | **TAXES** | **Location in Prospectus** |
| **What Are the Contract's Tax Implications?** | You should consult with a tax professional to determine the tax implications of an investment in and purchase payments received under the Contract. There is no additional tax benefit to you if the Contract is purchased through a tax-qualified plan or individual retirement account (IRA). Generally, withdrawals will be subject to ordinary income tax, and if before age 59<sup>1</sup>⁄<sub>2</sub>, may be subject to a penalty tax. | **FEDERAL TAX CONSIDERATIONS** |
|  | **CONFLICTS OF INTEREST** | **Location in Prospectus** |
| **How Are Investment Professionals Compensated?** | Some investment professionals may receive compensation for selling the Contract to you. The compensation is typically paid as a commission calculated as a percentage of the purchase payments received for a Contract. These investment professionals may have a financial incentive to offer or recommend the Contract over another investment. | **DISTRIBUTION OF THE CONTRACTS** |
| **Should I Exchange My Contract?** | Some investment professionals may have a financial incentive to offer you a new contract in place of the one you already own. You should only exchange your existing contract if you determine, after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate the existing contract, that it is preferable for you to purchase the new contract rather than continue to own your existing contract. | **DISTRIBUTION OF THE CONTRACTS** |

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**BENEFITS AVAILABLE UNDER THE CONTRACT** 

The following table summarizes the information about the benefits available under the Contract.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Current<br>Charge** | **Maximum<br>Charge** | **Brief Description of Restrictions / Limitations** |
| **Death Benefit Return of Premium Guarantee** | Pays a Death Benefit Amount of the greater of the Account Value or the Return of Premium Guarantee Amount if the Owner dies during the Accumulation Period | No charge | N/A | • Only available during Accumulation Period<br>• Withdrawals may result in a reduction of the Return of Premium Guarantee that is greater than the amount of the withdrawal<br>• If the Death Benefit value becomes payable before the end of a Term, it will be subject to a Daily Value Percentage adjustment, or the locked Daily Value percentage if you have made a Performance Lock election |
| **Free Withdrawal Allowance** | Allows owner to withdraw some money from the Contract without an Early Withdrawal Charge | No charge | N/A | • Only available during Accumulation Period<br>• During the first Contract Year, the Free Withdrawal Allowance is 10% of the total Purchase Payments<br>• After the first Contract Year, the Free Withdrawal Allowance is 10% of the Account Value as of the most recent Contract Anniversary<br>• Withdrawals will reduce the Contract Value and Death Benefit, perhaps significantly<br>• Withdrawals from an Indexed Strategy before the end of a Term will trigger a Daily Value Percentage adjustment.<br>• Withdrawals may be subject to taxes and penalties |
| **Extended Care Waiver** | Surrender or withdrawal may be made without an Early Withdrawal Charge if the Owner is confined to a qualifying licensed hospital or long-term care facility for at least 90 days | No charge | N/A | • Only available during the Accumulation Period<br>• First day of confinement must be after the Contract Effective Date (or for Contracts issued before May 21, 2025, on or after the first Contract Anniversary)<br>• The confinement must continue for at least 90 consecutive days after the later of the first contract anniversary or the first date of confinement<br>• Surrender or withdrawal must be at least 90 days after first Contract Anniversary<br>• Not available in all states |
| **Terminal Illness Waiver** | Surrender or withdrawal may be made without an Early Withdrawal Charge or if the Owner is diagnosed with a terminal illness by a physician | No charge | N/A | • Only available during the Accumulation Period<br>• The diagnosis must be rendered after the Contract Effective Date (or for Contracts issued before May 21, 2025, on or after the first Contract Anniversary)<br>• Surrender or withdrawal must be on or after first Contract Anniversary<br>• The Owner's life expectancy must be less than 12 months from the date of diagnosis<br>• Not available in all states |
| **Performance Lock** | Permits you to lock in the Daily Value Percentage of an Indexed Strategy before the end of the Term | No charge | N/A | • Only available during the Accumulation Period<br>• May only be used with S&P 500 Indexed Strategies (excluding the 0% Floor Cap Strategy and Trigger Strategies), the Russell 2000 Indexed Strategies, and the First Trust Barclays Edge Indexed Strategies<br>• You may only make a Performance Lock election for an eligible Indexed Strategy once per Term.<br>• A Performance Lock for an Indexed Strategy with a 2-, 3- or 6-year Term will always cause the Term to end on the next anniversary of the Term, regardless of how many years are left in the Term<br>• If you elect a Performance Lock, you will not be able to reallocate the locked value until the end of a Term.<br>• Not available for Contracts issued in Missouri with a Contract Effective Date before May 21, 2025 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Current<br>Charge** | **Maximum<br>Charge** | **Brief Description of Restrictions / Limitations** |
| **Automated Withdrawals** | Permits automated withdrawals from the Contract | No charge | $30 annually | • Only available during the Accumulation Period<br>• Automated withdrawals during the first six Contract Years may be subject to an Early Withdrawal Charge<br>• Automated withdrawals taken before the end of a Term will be subject to a Daily Value Percentage adjustment<br>• Automated withdrawals will reduce the amount available under the Free Withdrawal Allowance<br>• Automated withdrawals could result in significant loss due to taxes and reduce your ability to take full advantage of any positive Index performance at the end of a Term<br>• Like other withdrawals, automated withdrawals reduce the Death Benefit Return of Premium Guarantee proportionally, and, if taken from an Indexed Strategy before the end of a Term, reduce the Strategy's Investment Base proportionally. The reduction in the Death Benefit Return of Premium Guarantee and Investment Base could be significantly larger than the amount of the withdrawal. You should discuss the impact of taking such withdrawals with your financial professional before electing to do so<br>• We may discontinue automated withdrawals at any time |

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**BUYING THE CONTRACT** 

You may purchase a Contract only through a registered representative of a broker-dealer that has a selling agreement with our affiliated underwriter, MM Ascend Life Investor Services, LLC.

Any Owner or Annuitant must be age 80 or younger on the Contract Effective Date. To determine eligibility, we will use the person's age on his/her last birthday. We may make exceptions with respect to the maximum issue age in our discretion.

The Contract is not available in all states. To find out if it is available in the state where you live, ask your registered representative. The Contract may not be available for purchase during certain periods. There are a number of reasons why the Contract periodically may not be available, including that we may want to limit the volume of sales of the Contract. You may wish to speak to your registered representative about how this may affect your purchase. For example, in order to purchase the Contract, you may be required to submit your application prior to a specific date. In that case, if there is a delay because your application is incomplete or otherwise not in good order, you might not be able to purchase the Contract. Your broker-dealer may impose conditions on the purchase of the Contract, such as a lower maximum issue age, than we or other selling firms impose. In addition, Selling Broker-Dealers may not make certain indexed strategies available. If you have any questions, you should contact your Selling Agent or his or her Selling Broker Dealer. We reserve the right to reject any application at our discretion. We also reserve the right to discontinue the sale of the Contracts at any time.

**Purchase Payments** 

The Contract is a modified single premium annuity contract. This means you may make one or more Purchase Payments during the purchase payment period. The purchase payment period begins on the Contract Effective Date. It will end two months after the Contract Effective Date.

The initial Purchase Payment must be at least $25,000. Unless we agree, each additional Purchase Payment must be at least $10,000. You will need our prior approval if you want to make total Purchase Payments of more than $1,000,000.

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We must receive your initial Purchase Payment on or before the Contract Effective Date. We must receive each additional Purchase Payment on or before the last day of the purchase payment period. We will not accept any Purchase Payment that we receive after the date that the Contract is cancelled or Surrendered, or after a death for which a Death Benefit is payable. We deem Purchase Payments mailed to our post office box at P.O. Box 5423, Cincinnati OH 45201-5423, as received by us at our administrative office when the Purchase Payment or the paperwork reaches the applicable processing department located at 191 Rosa Parks Street, Cincinnati OH 45202.

We reserve the right to refuse a Purchase Payment made in the form of a personal check in excess of $100,000. We may accept a Purchase Payment over $100,000 made in other forms, such as EFT/wire transfers, or certified checks or other checks written by financial institutions. We will not accept a Purchase Payment(s) made with cash, money orders, or traveler's checks.

**Exchanges, Transfers, or Rollovers** 

If you own an annuity or tax-qualified account, you may be able to exchange it for an Index Summit 6 Pro annuity, directly transfer it to an Index Summit 6 Pro annuity, or roll it over to an Index Summit 6 Pro annuity without paying taxes. Before you do, compare the benefits, features, and costs of each annuity or account. You may pay an early withdrawal charge under the old annuity or account. You may pay an early withdrawal charge if you later take withdrawals from your Index Summit 6 Pro annuity. Please note that some financial professionals may have a financial incentive to offer this Contract in place of the one the investor already owns. Ask your registered representative whether an exchange, transfer, or rollover would be advantageous, based on the features, benefits, and charges of the Index Summit 6 Pro annuity.

If you purchase your Contract with an exchange, transfer, or rollover, a delay in processing the exchange, transfer, or rollover may delay the issuance of your new Contract or prevent the application of additional Purchase Payments to your new Contract.

You should only exchange your existing contract for this Contract if you determine after comparing the features, fees, and risks of both contracts that it is preferable for you to purchase this Contract rather than continuing to own your existing contract.

**Application of Purchase Payments** 

Each Purchase Payment will be held in the Purchase Payment Account until it is applied to an Indexed Strategy on a Strategy Application Date pursuant to your instructions. On each Strategy Application Date, we will apply the then current balance of the Purchase Payment Account to the Indexed Strategies you selected.

We will credit interest daily on amounts held in the Purchase Payment Account at the annual effective rate set out in your Contract. This rate will be at least 0.15%.

In most states, we are required to give back your Purchase Payment(s) if you decide to cancel your Contract during the free look period. If we are required by law to refund your Purchase Payment(s), we reserve the right to hold your Purchase Payment(s) in the Purchase Payment Account until the first Strategy Application Date on or after the end of the free look period. For those States, if you cancel your Contract before that Strategy Application Date, we will refund your Purchase Payment(s) but you will forfeit any interest credited to the Purchase Payment Account or other increase in Account Value.

**Purchase Payment Account Value** 

On any day, the value of the Purchase Payment Account is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase Payments received by us plus interest earned daily; minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the premium tax or other tax that may apply to the Purchase Payments; and minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each withdrawal and related Early Withdrawal Charge taken from the Purchase Payment Account since the last
Strategy Application Date.

**Unforeseen Processing Delays** 

We are exposed to risks related to natural and man-made disasters and catastrophes, such as (but not limited to) storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts, any of which could adversely affect our ability to conduct business. A natural or man-made disaster or catastrophe, including a pandemic (such as the COVID-19 pandemic), could affect the ability or willingness of our employees or the employees of our service providers to perform their job responsibilities. While many of our employees and the employees of our service providers are able to work remotely, those remote work arrangements may result in our business operations being less efficient than under normal circumstances and could lead to delays in our processing of contract-related transactions, including orders from contract owners. Catastrophic events may negatively affect the computer and other systems on which we rely, impact our ability to calculate values under your Contract, or have other possible negative impacts. There can be no assurance that our service providers will be able to successfully avoid negative impacts associated with natural and man-made disasters and catastrophes.

A processing delay will not affect the effective date as of which we process transactions, including orders from contract owners, the date that a Term begins or ends, or the values used to process the transaction.

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**Right to Cancel (Free Look)** 

If you change your mind about owning the Contract, you may cancel it within 20 days after you receive it. If you purchase this Contract to replace an existing annuity contract or life insurance policy, you have 30 days after you receive it. This is known as a "free look." The right to cancel period may be longer in some states.

To cancel your Contract, you must submit your request to cancel to the producer who sold it or send it to us at P.O. Box 5423, Cincinnati, OH 45201-5423. If sent to us by mail, it is effective on the date postmarked with proper address and postage paid. Your request to cancel must be in writing and signed by you.

If you cancel your Contract, you will receive a refund. The amount of the refund will depend on when you purchased your Contract and where you live. When you cancel the Contract within this free look period, we will not assess an Early Withdrawal Charge on the amount to be refunded. There may be tax consequences if you cancel the Contract. You should seek advice on tax questions based on your particular circumstances from a tax advisor.

**Refund Amount if your Contract Effective Date is on or after May 21, 2025** 

If you cancel your Contract, you will receive a refund equal to your Purchase Payment(s), but you will forfeit any interest credited to the Purchase Payment Account or other increase in the Account Value. We reserve the right to hold your Purchase Payment(s) in the Purchase Payment Account until the first Strategy Application Date on or after the end of the free look period.

**"Appendix C: State Variations"** in the prospectus contains a summary of the state law provisions related to the free look period and the required refund amount that apply in certain states for Contracts with a Contract Effective date on or after May 21, 2025.

**Refund Amount if your Contract Effective Date is before May 21, 2025** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you cancel your Contract and you live in a state where we are required to refund your Purchase Payment(s), you
will receive a refund equal to your Purchase Payment(s), but you will forfeit any interest credited to the Purchase Payment Account or other increase in the Account Value. We reserve the right to hold your Purchase Payment(s) in the Purchase Payment
Account until the first Strategy Application Date on or after the end of the free look period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you cancel your Contract and you live in a state where we are required to refund the Account Value of your
Contract, you will receive the Account Value on the day that we receive your cancellation Request in Good Order. If the Account Value includes the value of an Indexed Strategy, that Strategy value will reflect the applicable Daily Value Percentage.
The amount you receive may be more or less than your Purchase Payment(s) depending upon any interest earned by your Contract and the value of your Indexed Strategies. This means that you bear the risk of any decline in the Account Value of your
Contract before we receive your cancellation request.

Unless required by state law, we do not refund any Daily Charge assessed during the free look period or any Early Withdrawal Charges assessed during the free look period that relate to a withdrawal taken before you cancel the Contract.

**"Appendix C: State Variations"** in the prospectus contains a summary of the state law provisions related to the free look period and the required refund amount that apply in certain states for Contracts with a Contract Effective Date before May 21, 2025.

**MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT** 

**Surrender** 

You may Surrender your Contract at any time before the earlier of: (1) the Annuity Payout Initiation Date; or (2) a death for which a Death Benefit is payable. The right to Surrender may be restricted if your Contract is purchased under an employer plan subject to IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuity plans), or IRC Section 457(b) (governmental deferred compensation plans).

The amount paid upon Surrender is the Surrender Value. If you Surrender your Contract on a day that is not the end of a Term, the Surrender Value is based on the Daily Value Percentage of each Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term.

The amount paid on Surrender is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of the amount paid on Surrender may also be subject to an additional 10% federal penalty tax.

A Surrender must be made by a Request in Good Order. If you Surrender your Contract, the Contract terminates.

**Withdrawals** 

You may take a withdrawal from your Contract at any time before the earliest of: (1) the Annuity Payout Initiation Date; (2) a death for which a Death Benefit is payable; or (3) the date that this Contract is Surrendered. The right to withdraw may be restricted if your Contract is purchased under an employer plan subject to IRC Section 401 (pension, profit sharing, and 401(k) plans), IRC Section 403(b) (tax-sheltered annuity plans), or IRC Section 457(b) (governmental deferred compensation plans).

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A withdrawal must be made by a Request in Good Order. The amount of any withdrawal must be at least $500. If the withdrawal would reduce the Account Value to less than the minimum value of $5,000, we will treat the withdrawal request as a request to withdraw the maximum amount that may be taken without reducing your Account Value to less than $5,000.

We will withdraw funds from your Account Value as of the date on which we receive your Request in Good Order or any later specified effective date. You may designate the Indexed Strategy or Strategies from which a withdrawal will be taken by a Request in Good Order prior to the date of the withdrawal. If you do not make a designation, we will take the withdrawal from the Indexed Strategies in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• first proportionally from funds, if any, that then qualify for a waiver of the Early Withdrawal Charge pursuant
to the provisions of the Indexed Strategy endorsement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then from the Purchase Payment Account; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• then proportionally from Indexed Strategies having the shortest Term (meaning the withdrawal will be taken
proportionally from Indexed Strategies with 1-year Terms, and then proportionally from Indexed Strategies with 2-year Terms, and then proportionally from Indexed
Strategies with 3-year Terms, and finally from Indexed Strategies having 6-year Terms).

**Effect of Withdrawals** 

A withdrawal reduces the Account Value, which in turn reduces the amount payable upon Surrender, applied to the Annuity Payout Benefit, or payable as the Death Benefit.

If an Early Withdrawal Charge applies to your withdrawal, your Account Value will be reduced by the amount you receive plus the amount needed to pay the Early Withdrawal Charge.

A withdrawal from an Indexed Strategy other than at the end of a Term will be based on the Daily Value Percentage of the Indexed Strategy (or the locked Daily Value Percentage if you have made a Performance Lock election). The Daily Value Percentage could be negative, which could result in significant loss, even if the Index has risen since the start of the Term. The withdrawal from an Indexed Strategy before the end of a Term will reduce the Investment Base and the Death Benefit Return of Premium Guarantee by an amount that is proportional to the reduction in the Strategy value If the Daily Value Percentage is negative, these proportional reductions could be significantly larger than the dollar amount of the withdrawal. A reduction in the Investment Base for a Term will reduce the gain from any future rise in the Index during that Term.

The amount withdrawn is subject to income tax to the extent that it represents Contract earnings or pre-tax contributions. If received before age 59<sup>1</sup>⁄<sub>2</sub>, the taxable portion of a withdrawal may also be subject to an additional 10% federal penalty tax.

**Automated Withdrawals** 

You may elect to withdraw money from your Contract under any automated withdrawal program that we offer. Your Account Value must be at least $10,000 in order to make an automated withdrawal election. The minimum amount of each automated withdrawal payment is $100. Automated withdrawals will be taken from the Purchase Payment Account and Indexed Strategies of your Contract in the same order as any other withdrawal.

**The Contract is intended for long-term investment purposes and the Contract and its Indexed Strategies may not be appropriate for investors who plan to take withdrawals (including automated withdrawals and required minimum distributions) during the first six Contract Years, because of the assessment of Early Withdrawal Charges, or who plan to take withdrawals during Indexed Strategy Terms, because of the application of the Daily Value Percentage.** 

Subject to the terms and conditions of the automated withdrawal program, you may begin or discontinue automated withdrawals at any time. You must give us at least 30 days' notice to change any automated withdrawal instructions that are currently in place. Any request to begin, discontinue or change automated withdrawals must be a Request in Good Order. We reserve the right to discontinue offering automated withdrawals at any time.

Currently, we do not charge a fee to participate in an automated withdrawal program. However, we reserve the right to impose an annual fee in such amount as we may then determine to be reasonable for participation in the automated withdrawal program. If imposed, the fee will not exceed $30 annually.

Before electing an automated withdrawal, you should consult with a financial advisor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Automated withdrawals during a Term from an Indexed Strategy will systematically reduce the Investment Base,
which will reduce any subsequent increase in the Strategy value due to a positive Daily Value Percentage during that Term or a rise in the applicable Index at the end of that Term. Such reductions could be significant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Automated withdrawals will reduce the amount available under the Free Withdrawal Allowance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless a waiver applies, an Early Withdrawal Charge may apply to an automated withdrawal during the first six
Contract Years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If taken from an Indexed Strategy before the end of a Term, the value of an Indexed Strategy on an automated
withdrawal date will reflect the Daily Value Percentage on that date. Any Strategy value before the end of a Term will almost always be less, perhaps significantly less, than the value suggested by the rise or fall of the Index. In extreme
circumstances, an Indexed Strategy may have no value before the end of a Term due to the Daily Value Percentage, meaning that you would suffer the loss of 100% of your principal and any prior earnings in that Strategy if, before the end of the Term,
you were to Surrender your Contract, annuitize it, or elect a Performance Lock, or a Death Benefit becomes payable.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Automated withdrawals could result in significant loss due to taxes and reduce your ability to take full
advantage of any positive Index performance at the end of a Term.

**Exchanges, Transfers, and Rollovers** 

An amount paid on a withdrawal or Surrender may be paid to or for another annuity or tax-qualified account in a tax-free exchange, transfer, or rollover to the extent allowed by federal tax law.

**ADDITIONAL INFORMATION ABOUT FEES** 

**The following tables describe the fees, expenses and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Indexed Strategy or from the Contract. Please refer to the Contract Specifications section of your Contract for information about the specific fees you will pay each year based on the options you have elected.** 

**The first table describes the fees and expenses you will pay at the time that you surrender or make withdrawals from an Indexed Strategy. State premium taxes may also be deducted.** 

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| | |
|:---|:---|
| **Transaction Expenses** | **Maximum** |
|  Automated Withdrawals | $30 annually |
|  Early Withdrawal Charge (as a percentage of amount withdrawn or surrendered) <sup>(1)</sup>  | 9.00% |

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<sup>(1)</sup> The Early Withdrawal Charge is calculated as a percentage of the amount withdrawn plus any amount needed to cover the Early Withdrawal Fee. If you Surrender your Contract, the amount subject to the Early Withdrawal Charge is your Account Value. We may waive the Early Withdrawal Charge under certain circumstances. **See the "Charges and Adjustments" section of this prospectus for more information about the Early Withdrawal Charge and the circumstances in which it may be waived.** The charge decreases to zero after 6 years according to the following schedule: 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  Contract Year | 1 | 2 | 3 | 4 | 5 | 6 | 7+ |
|  Early Withdrawal Charge Rate | 9.0% | 8.0% | 7.0% | 6.0% | 5.0% | 4.0% | 0% |

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**The next table describes the adjustments, in addition to any transaction expenses, that apply if all or a portion of the Account Value is removed from an Indexed Strategy before the expiration of Term.** 

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| | |
|:---|:---|
| **Contract Adjustments<sup>(2)</sup>** | |
|  Daily Value Percentage adjustment Maximum Potential Loss<br> (as a percentage of Strategy value at the start of the Term) | 100% |

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<sup>(2)</sup> A Daily Value Percentage adjustment will be applied if you take a withdrawal, Surrender or annuitize your Contract, elect a Performance Lock, or a Death Benefit becomes payable before the end of a Term. 

**The next table describes the fees and expenses that you will pay *each year* during the time that you own the Contract.** 

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| | |
|:---|:---|
| **Annual Contract Expenses** | |
|  Base Contract Expenses<sup>(3)</sup><br> (as a percentage of investment base of each Indexed Strategy) | 0.95% |

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<sup>(3)</sup> Base Contract Expenses consists of the annualized Daily Charge Rate. Unless your Contract qualifies for a lower rate, the Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.95% per year. The Daily Charge is calculated using a daily rate that when compounded for a year is equal to 0.75% per year if your Contract was issued: (1) before May 7, 2024; or (2) before June 7, 2024, and your application was signed before May 7, 2024. 

**In addition to the fees described above, the Positive Return Factors may limit the amount you can earn on the Indexed Strategies. This means your returns may be lower than the Index's returns. In return for accepting this limit on Index gains, you will receive some protection from Index losses.** 

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**APPENDIX A: INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT** 

The following is a list of Indexed Strategies currently available under the Contract. We may change the features of the Indexed Strategies listed below (including the Index and the current limits on Index gains and losses), offer new Indexed Strategies, and terminate existing Indexed Strategies. We will provide you with written notice before making any changes other than changes to current limits on Index gains. Information about current limits on Index gains is available at <u>www.massmutualascend.com/index-summit-6-pro</u>. For additional information about the features of the Indexed Strategies, please see the "Indexed Strategies" section in the prospectus.

**Note: If amounts are removed from an Indexed Strategy before the end of its Term, we will apply a Daily Value Percentage adjustment. This may result in a significant reduction in your Strategy value that could exceed any protection from Index loss that would be in place if you held the Indexed Strategy until the end of the Term. You may not be able to invest in certain Indexed Strategies, as noted below.** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** | **Current Limit on Index Loss (if held<br>until end of Term)** | **Minimum Limit on Index Gain (for the life<br>of the Indexed Strategy)** | **Performance<br>Lock <sup>4</sup>** |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 0% Floor | 1% Cap | N/A |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | -10% Floor | 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 10% Buffer | 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 10% Buffer | 1% Trigger Rate | N/A |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 10% Buffer | 1% Dual Performance Trigger Rate | N/A |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 20% Buffer | 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>1</sup> | Market Index | 1 Year | 20% Buffer | 1% Trigger Rate | N/A |
| S&P 500<sup>®</sup> | Market Index | 1 Year | 50% Downside Participation Rate | 1% Cap | Available |
| S&P 500<sup>®</sup> | Market Index | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup> | Market Index | 2 Years | 50% Downside Participation Rate | 1% Cap | Available |
| S&P 500<sup>®</sup> | Market Index | 2 Years | 50% Downside Participation Rate | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| S&P 500<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| iShares MSCI EAFE ETF<sup>1</sup> | ETF | 1 Year | 10% Buffer | 1% Cap | N/A |
| iShares MSCI EAFE ETF | ETF | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | N/A |
| iShares U.S. Real Estate ETF<sup>1</sup> | ETF | 1 Year | -10% Floor | 1% Cap | N/A |
| iShares U.S. Real Estate ETF | ETF | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | N/A |
| SPDR Gold Shares ETF<sup>1</sup> | ETF | 1 Year | -10% Floor | 1% Cap | N/A |
| First Trust Barclays Edge<sup>1</sup> | Market Index | 1 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| First Trust Barclays Edge<sup>1</sup> | Market Index | 1 Year | 50% Downside Participation Rate | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>3</sup> | Market Index | 1 Year | 10% Buffer | 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>3</sup> | Market Index | 1 Year | 20% Buffer | 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 10% Buffer | 5% Upside Participation Rate & 1% Cap | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 6 Years | 20% Buffer | 5% Upside Participation Rate & 1% Cap | Available |

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<sup>1</sup> These Strategies are not available for Contracts issued in **Missouri** with a Contract Effective Date before May 21, 2025. 

<sup>2</sup> These Strategies are not available for Contracts with a Contract Effective Date before December 6, 2025. They are not available for Contracts issued in **California** until after regulatory approval is received. 

<sup>3</sup> These Strategies are not available for Contracts with a Contract Effective Date before May 21, 2025.

<sup>4</sup> Performance Lock is not available for Contracts issued in **Missouri** with a Contract Effective Date before May 21, 2025. 

------

The following eight additional Indexed Strategies are available for Contracts with a Contract Effective Date before January 21, 2026. These Indexed Strategies will continue to be available for Contracts issued in **California** before a date to be specified by a supplement to this prospectus after regulatory approval of the Combination Strategies is received.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** | **Current Limit on Index<br>Loss (if held until end of<br>Term)** | **Minimum Limit on Index Gain (for<br>the life of the Indexed Strategy)** | **Performance<br>Lock** |
| S&P 500<sup>®</sup><sup>1</sup> | Market Index | 3 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup><sup>1</sup> | Market Index | 3 Year | 20% Buffer | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup> | Market Index | 6 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| S&P 500<sup>®</sup><sup>1</sup> | Market Index | 6 Year | 20% Buffer | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Year | 10% Buffer | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>2</sup> | Market Index | 3 Year | 20% Buffer | 5% Upside Participation Rate | Available |
| Russell 2000<sup>®</sup> <sup>1</sup> | Market Index | 6 Year | 10% Buffer | 5% Upside Participation Rate | Available <sup>3</sup> |
| Russell 2000<sup>®</sup> <sup>1</sup> | Market Index | 6 Year | 20% Buffer | 5% Upside Participation Rate | Available <sup>3</sup> |

---

<sup>1</sup> These Strategies are not available for Contracts issued in **Missouri** with a Contract Effective Date before May 21, 2025. 

<sup>2</sup> These Strategies are not available for Contracts with a Contract Effective Date before May 21, 2025.

<sup>3</sup> Performance Lock for the Russell 2000 6-Year Indexed Strategies is not available for Contracts with a Contract Effective Date before May 21, 2025.

The **S&P 500** is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index.

The **iShares MSCI EAFE ETF** deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in the securities composing the ETF.

The **iShares US Real Estate ETF** deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in the securities composing the ETF.

The **SPDR Gold Shares ETF** deducts fees and costs when calculating Index performance. This will reduce the ETF's return and cause the ETF to underperform a direct investment in gold bullion.

The **First Trust Barclays Edge** is an "excess return index" that subtracts a risk-free interest rate from the price and dividend return of the securities. It also deducts fees and costs when calculating Index performance. This will reduce the Index's return and cause the Index to underperform a direct investment in the securities composing the Index.

The **Russell 2000** is a "price return index," not a "total return index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and cause the Index to underperform a direct investment in the securities composing the Index.

**Possible Changes in Indexed Strategies.** 

**The S&P 500 1-Year 50% Downside Participation Rate with Upside Participation Rate Indexed Strategy will always be available. At the end of a Term, we may stop offering any other Indexed Strategy. Consequently, any other Indexed Strategy listed above may not be available after the end of the initial Term. We have the right to replace the Index associated with an Indexed Strategy under certain circumstances.** 

**In the future, we may offer new Indexed Strategies. Any new Buffer Strategy will offer protection against loss at least equal to a 5% Buffer. Any new Floor Strategy will offer protection against loss at least equal to a -20% Floor. Any new Downside Participation Rate Strategy will offer protection against loss at least equal to a 75% Downside Participation Rate.** 

**Positive return factors can change from one Term to the next, subject to the following minimum rates: A Cap will never be lower than 1%, an Upside Participation Rate will never be lower than 5%, and a Trigger Rate will never be lower than 1%. Indexed Strategies that may be available in the future may earn a return that is lower than the return your investments would have earned if they had been invested in the other Indexed Strategies that are currently available. In addition, any reduction in the available number of Indexed Strategies may reduce your opportunity to increase your Contract value.** 

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The Prospectus and Statement of Additional Information (SAI) include additional information. The Prospectus and SAI which have the same effective date as this summary prospectus are incorporated by reference as amended or supplemented. The Prospectus and SAI are available without charge, upon request. For a free copy, or to request other information about the Contract or make other inquiries, contact us by visiting <u>www.massmutualascend.com/RILAcompliancedocuments</u>, calling 1-800-789-6771, or in writing at the following address:

MassMutual Ascend Life Insurance Company

Administrative Office: P.O. Box 5423, Cincinnati OH 45201-5423

Reports and other information about the Company are available on the SEC's website at sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier: C000261635

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Dominic L. Blue, director, President and Chief Executive Officer of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 22nd day of July, 2025, in the City of Springfield, State of Massachusetts.

---

| |
|:---|
| /s/ Dominic L. Blue |
| **Dominic L. Blue, Director, President and Chief Executive Officer** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Susan M. Cicco, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set her hand this 14th day of July, 2025, in the City of Springfield, State of Massachusetts.

---

| |
|:---|
| /s/ Susan M. Cicco |
| **Susan M. Cicco, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Geoffrey J. Craddock, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 21st day of July, 2025, in the City of Boston, State of Massachusetts.

---

| |
|:---|
| /s/ Geoffrey J. Craddock |
| **Geoffrey J. Craddock, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Roger W. Crandall, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 22nd day of July, 2025, in the City of Springfield, State of Massachusetts.

---

| |
|:---|
| /s/ Roger W. Crandall |
| **Roger W. Crandall, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Mary Jane Fortin, director and Chief Financial Officer of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set her hand this 22nd day of July, 2025, in the City of Boston, State of Massachusetts.

---

| |
|:---|
| /s/ Mary Jane Fortin |
| **Mary Jane Fortin, Director and Chief Financial Officer** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Vy Ho, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 24th day of July, 2025, in the City of Springfield, State of Massachusetts.

---

| |
|:---|
| /s/ Vy Ho |
| **Vy Ho, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Paul A. LaPiana, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 15th day of July, 2025, in the City of Boston, State of Massachusetts.

---

| |
|:---|
| /s/ Paul A. LaPiana |
| **Paul A. LaPiana, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Sears Merritt, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 15th day of July, 2025, in the City of Boston, State of Massachusetts.

---

| |
|:---|
| /s/ Sears Merritt |
| **Sears Merritt, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Michael J. O'Connor, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 14th day of July, 2025, in the City of Springfield, State of Massachusetts.

---

| |
|:---|
| /s/ Michael J. O'Connor |
| **Michael J. O'Connor, Director** |

---

## Exhibit 99.27

**<u>POWER OF ATTORNEY: RILA PRODUCT FILINGS</u>**

The Undersigned, Eric W. Partlan, director of MassMutual Ascend Life Insurance Company ("MMALIC"), appoints John Gruber, General Counsel of MMALIC, and all persons succeeding him in the capacity of General Counsel, Freeman Durham, SVP – Head of Product Law of MMALIC, and John Domaschko, VP – Head of Securities Law of MMALIC (collectively referred to hereafter as "Attorneys"), as the Undersigned's true and lawful attorneys and agents, each with full power to act individually.

This Power of Attorney authorizes each such Attorney (a) to sign and cause to be filed registration statements of MMALIC under the Securities Act of 1933 for each of the MMALIC Contract Categories listed in the chart below, and all amendments, consents and exhibits thereto; (b) to withdraw such statements or any amendments or exhibits and make requests for acceleration in connection therewith; (c) to take all other action of whatever kind or nature in connection with such registration statements which said attorneys may deem advisable; and (d) to make, file, execute, amend and withdraw documents of every kind, and to take other action of whatever kind they may elect, for the purpose of complying with the laws of any state relating to the sale of securities of MMALIC, the Securities Act of 1933, and any rule, regulation, order or other requirement of the Securities and Exchange Commission, hereby ratifying and confirming all actions of said attorney and agent hereunder.

---

| |
|:---|
| **<u>MMALIC Contract Categories</u>** |
| **Index Frontier 5 Contracts and Index Frontier 7 Contracts** |
| **Index Summit 6 with Return of Premium Contracts and Index Summit 6 Contracts** |
| **Index Frontier 5 Pro Contracts and Index Frontier 7 Pro Contracts** |
| **Index Summit 6 Pro with Return of Premium Contracts and Index Summit 6 Pro Contracts** |
| **Index Achiever Advisory Contracts and Index Achiever Contracts** |
| **Index Frontier 5 Plus Contracts** |

---

This Power of Attorney hereby revokes any powers of attorney previously given by the Undersigned relating to the MMALIC registration statements listed above, provided that this revocation shall not affect the exercise of such power prior to the date hereof. This Power of Attorney shall not be affected by subsequent disability or incapacity of the Undersigned.

The Undersigned has set his hand this 22nd day of July, 2025, in the City of Boston, State of Massachusetts.

---

| |
|:---|
| /s/ Eric W. Partlan |
| **Eric W. Partlan, Director** |

---