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Insight into the underlying funds of Strategic Group Variable Universal Life Insurance
An Educational Guide for Individuals
Quarterly Portfolio Guide December 31, 2013
Not FDIC or NCUA Insured Not a Bank or Credit Union Deposit or ObligationMay Go Down in Value Not Insured by any Federal Government Agency
Not Guaranteed by any Bank or Credit Union
Gain insight into your investmentchoices
The Strategic Group Variable Universal Life (Strategic GVUL) product offers a broad range of investment choices so you and your financial professional can develop an investment strategy that fits your risk tolerance, time horizon and investment objectives. This brochure provides important information so you can gain a true insight into these investment choices and select the investment choices that best suit you.
Strategic Group Variable Universal Life is a variable rider to a group flexible premium adjustable life insurance policy. The group policy allows individ-ual owners to elect certificates offering participation in MassMutuals fixed account and to elect a rider to the certificate offering additional participation in a separate account of MassMutual. We refer to the certificates we issue to individuals who elect the variable rider as policy or policies.
This report gives information only about the performance of the invest-ment options available through the policy. It does not give, and should not be understood to give, information about the overall performance of any policy. Before purchasing a Strategic Group Variable Universal Life policy, you should request a personalized illustration from your financial representative to see examples of how policy charges can impact the performance of your policy. The illustration will reflect the deduction of mortality and expense risk charges, premium charges (i.e. sales load, state premium tax and DAC tax charges), surrender charges, the monthly administrative, face amount, and insurance charges, as well as any applicable rider charges specific to the policy. Additionally, if you currently own a policy, you can obtain current illustrations of policy values by contacting your personal financial representative, or by clicking on contact us on our web site, or by calling us at 800-548-0073, Monday Friday, 8 a.m. to 5 p.m. eastern time.
The investment performance figures in this report are based on actual historical performance of the investment options for the periods shown, including for those time periods that begin prior to this policys availability date. In most states, the policy first became available on October 1, 1997. For periods of one year or less, the total return is not annualized. For periods greater than one year, the average annual total return for the time periods is shown.
This material must be preceded or accompanied by the current prospectus for the Strategic Group Variable Universal Life Insurance policy and the prospectuses (or summary prospectuses, if available) for its underlying investment choices. Before purchasing a policy, investors should carefully consider the investment objectives, risks, charges and expenses of the policy and its underlying investment choices. Please read the prospectuses carefully before investing or sending money.
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Brand-name investment management
Strategic GVUL offers some of the most recognizable names in money management today. Massachusetts Mutual Life Insurance Company (MassMutual) strives to provide policy owners with access to high-caliber investment managers who offer consistent, quality investment strategies. The ability to invest in invest-ment choices managed by these types of experienced invest-ment management companies may help you attain your desired investment results over the longterm.
As of December 31, 2013; subject to change.
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Broad range of investment choices*(Fund sub-adviser as noted in parenthesis)
Large Cap American Century VP Income & GrowthMML Equity (Oppenheimer/
Fidelity VIP Contrafund
MFS Research Series
MML Equity Index (Northern Trust)
Oppenheimer Main Street
MML Blue Chip Growth (T. Rowe Price)
Oppenheimer Capital Appreciation
T. Rowe Price New America Growth
Small/Mid Cap American Century VP Value MML Small Cap Equity1 (Oppenheimer)
Oppenheimer Main Street Small Cap2
Oppenheimer Discovery Mid Cap Growth3
T. Rowe Price Mid-Cap Growth4
MFS New Discovery
Value Blend Growth
* Investment choices listed are available as of the date of this brochure.
Investing involves risk, including the loss of principal. Each investment choice underlying the variable life insurance policy has broad risks that apply to all investment choices, such as market risk, as well as specific risks inherent in particular types of investment choices that may subject your variable life insurance policy to greater risk and volatility than the general market.1 Formerly known as MML Small/Mid Cap Equity2 Formerly known as Oppenheimer Main Street Small- & Mid-Cap3 Formerly known as Oppenheimer Small- & Mid-Cap Growth4 T. Rowe Price Mid-Cap Growth is not available as an investment choice for policies issued on May 1, 2004 or later.
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5 An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or by any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these funds.
6 Funds offered in a fund-of-funds structure may have higher expenses than a direct investment in the underlying funds because a fund-of-funds bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.
7 Formerly known as Oppenheimer Balanced8 Formerly known as Oppenheimer Global Securities
Fixed Income Other Categories Global/International
Money MarketOppenheimer Money5
Investment Grade BondMML Managed Bond
Oppenheimer Core Bond (Babson)
Multi SectorOppenheimer Global Strategic Income
MML Conservative Allocation
MML Balanced Allocation
MML Moderate Allocation
MML Growth Allocation
MML Aggressive Allocation
BalancedOppenheimer Capital Income7
Global EquityOppenheimer Global8
International EquityOppenheimer International Growth
Emerging Markets EquityMML Strategic Emerging Markets
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The fact sheets included in this brochure provide detailed information about the historical performance of the invest-ment choices in your Strategic GVUL policy. They also provide valuable information about the underlying funds that the investment choices (divisions) invest in. Please refer to these important definitions and concepts as you review the fact sheets. They will help you gain a better understanding of the investment choices you have elected, or the investment choices you may elect in the future. Important note: the fact sheets cannot be printed separately.
PerformanceThe performance numbers for each investment choice varies by the level of fees and charges deducted. Fees and charges will reduce your investment return.
Past performance is no indication of future results. Current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. For the most recent-month end performance, please visit our Web site at www.massmutual.com or by calling our customer service center at (800) 272-2216, 8:00 a.m. to 8:00 p.m. (ET).
Total Returns for each fund are the actual historical rates and are net of all fund management fees and other operat-ing expenses. These returns do not reflect the Separate Account Mortality and Expense Risk Charges or policy charges. Policy charges include: premium charges (i.e. sales load, state premium tax and DAC tax charges), surrender charges, and the monthly administrative, face amount, and insurance charges. If these charges were deducted, the returns would be significantly lower.
Fund ExpensesGross Fund Expenses are the total operating expenses charged by any of the funds, expressed as a percentage of average net assets, for the prior year end. More detail concerning each funds fees and expenses that you may pay periodically during the time that you own the policy, is contained in each fund prospectus.
Net Fund Expenses are the Total Annual Fund Operating Expenses, minus any waivers or reimbursements put in place by the fund company.
Fundamental Characteristics (Fixed Income and Equity)Average Life Coupon is the dollar-weighted average of all the current coupons of the bonds in a portfolio.
Credit Quality represents the grading of a debt security with respect to the issuers ability to meet interest and principal requirements in a timely manner. Issues rated AAA, AA, A and BBB are considered investment grade, while issues rated BB, B and below are considered below investment grade or high yield bonds. Higher rated bonds generally provide lower yields and greater safety relative to below investment grade bonds.
Dividend Yield is the yield a company pays out to its share-holders