The importance of financial literacy

April is Financial Literacy Month, which is all about learning key aspects of financial health and how to establish and maintain healthy financial habits. In a recent LIMRA study, consumers were evaluated on their financial literacy by using 10 fundamental questions on financial concepts. The average score was 4.2 out of 10. Additionally, “more than 1 in 3 consumers performed poorly on the financial literacy quiz, underscoring the urgent need for greater education and awareness in this realm.”¹ Understanding what financial literacy is and applying it to your money goals is important, not only for the present, but also for the future. At MassMutual Ascend, we are committed to going above and beyond – so when it comes to your financial future, the impossible feels possible. One way to elevate your financial future could be with an annuity.

An annuity is a financial product that’s designed to protect and grow your money, and then provide a stream of guaranteed income. As a leading provider of annuities, we see our products as more than just contracts. Our annuities are transparent and easier to understand, so you always know what to expect.

According to a recent study, “30% of consumers admit they lack familiarity with annuities.”² It’s important to consider your financial goals and how they play into your overall financial plan. Annuities can play a major role in your financial future by providing protection and growth, tax deferral and guaranteed income. At MassMutual Ascend, we offer a broad range of annuities to help meet your unique financial needs.

Talk to your financial professional to find out how an annuity could fit into your portfolio! Or, head to our Annuity insights page to learn more.

¹ LIMRA.com

² LOMA.org

This content does not apply in the state of New York.