Commuted Value. This equals the present value of remaining Annuity Payments that are converted into a lump sum. The Commuted Value may be available under certain Annuity Options as specified on the Contract Schedule, for withdrawals, if applicable, and as provided in the Death Provisions. The Commuted Value is calculated using the Commuted Value Formula shown on the Contract Schedule.
Appears in 2 contracts
Sources: Annuity Contract (Massachusetts Mutual Variable Annuity Separate Account 4), Annuity Contract (Massachusetts Mutual Variable Annuity Separate Account 4)