Company Information
Company Name
Clear Spring Life
Product Name
Clear Spring Life Preserve MYGA 10
Description
The Preserve MYGA 10 is a single premium, fixed annuity with a ten-year rate guarantee. After ten years, owners have a 30-day window to withdraw, transfer, or renew their funds for a new term. If no action is taken, the policy will be renewed for the same guarantee period.
This policy offers two interest rate bands. The highest rate is for deposits over $100K, while lower rates are available for deposits between $10K and $99.9K. An MVA is included and qualified and non-qualified funds are accepted. No surrender penalties at death.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
4.90%
Term
10 Years
Minimum Investment
$ 100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
90
Surrender Schedule
7%, 6%, 5%, 4%, 3%, 2%, 1%, 1%, 1%, .75%, 0%
What We Like About This Annuity
Policy is available up to age 90 with 10% free liquidity in year two. Two interest rate bands are offered allowing for lower minimums to start. Fair surrender schedule.
Notable Features
At no extra charge, this policy includes nursing home and terminal illness riders. Both allow for the full waiver of surrender charges when certain conditions are met.
Other Popular Products
Clear Spring is an annuity focused company. They offer several popular fixed-indexed annuities for consumers seeking higher growth opportunities. Immediate income annuities are offered as well.
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About Clear Spring Life and Annuity Company
Headquartered in Indianapolis IN, Clear Spring Life is a member of Group 1001, a $60 billion insurance holding company. CSL specializes in immediate, fixed, and fixed-indexed annuities for growth and income.
They carry an A- rating with AM Best and focus on experience, security, and loyalty for their policyholders in order to deliver long-term results with excellence and integrity.