Annuities in Massachusetts
Learn the basics of fixed and fixed indexed annuities in Massachusetts: who oversees annuity sales, how the free-look period works, what the state guaranty association is and which questions to ask before you buy. This page is general education. Laws, limits and taxes change often, so a licensed professional can go over what applies in Massachusetts today.
Good to know: this page is general education, not tax, legal or financial advice. Laws and taxes change often, and this page was last reviewed October 28, 2026. For the current rules in Massachusetts, book a call and a licensed professional can go over what applies today.
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*AnnuityTown is paid per qualified lead by the licensed partner company it connects you with.
Licensed professionals can only help people in states where they are licensed. The licensed partner confirms whether it can help you in Massachusetts when you reach out.
Here is general background on six topics that come up with fixed and fixed indexed annuities in Massachusetts, gathered from public sources as of October 28, 2026. Laws and limits change, so treat these as a starting point and confirm the current details before you decide anything.
Read your contract for the exact free-look period, because Massachusetts's consumer annuity guide does not state a number of days. A replacement annuity carries a 20-day unconditional refund right under the state's annuity rules.
Source: 211 CMR 34.06; Mass.gov Annuity Basics
Massachusetts adopted the 2020 NAIC Model 275 revisions in 211 CMR 96.00. Insurance producers must meet enhanced standards of conduct when recommending an annuity, effective June 2023.
Source: 211 CMR 96.00, Suitability in Annuity Transactions
Massachusetts Life and Health Insurance Guaranty Association: Up to $250,000 in present value of annuity benefits, including net cash surrender and withdrawal values, within a $300,000 total limit per life for covered benefits
Coverage has limits and conditions and applies only if an insurer becomes insolvent. It is not a reason to buy an annuity and does not replace checking an insurer’s financial strength. See current details at the association’s website.
Source: M.G.L. c. 175, § 146B
How annuity income is taxed in Massachusetts depends on current state and federal law and on your own situation, and tax rules change often. AnnuityTown does not give tax advice. A tax professional can tell you what applies to you.
Whether an annuity is protected from creditors in Massachusetts depends on current law and the facts of each situation. AnnuityTown does not give legal advice. An attorney licensed in Massachusetts can tell you what applies to you.
Massachusetts Division of Insurance licenses insurance professionals, oversees insurers and handles consumer complaints in Massachusetts.
Visit the Massachusetts Division of Insurance or call 617-521-7794.
A licensed professional should answer these clearly. You never need to decide during the first conversation.
Ask what it costs to take money out early, and how much you can withdraw each year without a charge.
For a fixed annuity, ask how long the rate is set. For a fixed indexed annuity, ask about caps, participation rates and spreads.
Write down the date. Massachusetts law gives you a set number of days to review the contract and return it.
Guarantees depend on the issuing insurer’s claims-paying ability. Ask about the insurer’s financial strength ratings.
Ask how federal and state taxes apply to your situation, and check with a tax professional.
Annuities are not insured by the FDIC. If an insurer becomes insolvent, the Massachusetts Life and Health Insurance Guaranty Association may cover up to $250,000 in annuity benefits, subject to conditions and limits. This coverage does not replace a review of the insurer's financial strength, and any contract guarantees depend on the insurer's claims-paying ability. This is general information as of the last review, and laws and limits can change.
How annuity income is taxed in Massachusetts depends on current state and federal law and on your own situation, and tax rules change often. AnnuityTown does not give tax advice. A tax professional can tell you what applies to you, and a licensed professional can explain how annuities generally work.
Your contract sets the free-look period, so read it carefully before the period ends. Massachusetts's consumer guide does not state a number of days. Replacement annuities carry a 20-day unconditional refund right. This is general information as of the last review, and laws and limits can change.
Whether an annuity is protected from creditors in Massachusetts depends on current law and the facts of each situation, and these laws change. AnnuityTown does not give legal advice. An attorney licensed in Massachusetts can tell you what applies to you.
The Massachusetts Division of Insurance regulates insurers and insurance producers, including annuity sales. You can ask a question or file a complaint through its Consumer Services unit at 617-521-7794. This is general information as of the last review, and laws and limits can change.
This page is for general educational purposes only. AnnuityTown is not a law firm, tax advisor, financial advisor or insurance company, and nothing on this page is legal, tax, investment or insurance advice or a recommendation. State laws, limits and tax rules change often, and this page is not updated continuously, so it may not reflect current law (last reviewed October 28, 2026). Do not rely on it to make a decision.
Before you act, confirm the current rules with your contract, the Massachusetts Division of Insurance, a tax professional or an attorney. A licensed professional with the licensed partner can also go over the current rules for Massachusetts on a call.
Rules change often, so you do not have to keep up with them alone. A licensed professional can go over the current rules in Massachusetts and the fixed and fixed indexed annuities you are considering. For personal tax or legal advice, talk with a tax professional or attorney. The licensed partner confirms whether it can help in Massachusetts.
*AnnuityTown is paid per qualified lead by the licensed partner company it connects you with.