Preserve Multi-Year Guaranteed Annuity 8
Multi-Year Guarantee Annuity
The Preserve Multi-Year Guaranteed Annuity 8 is a deferred multi-year guarantee annuity issued by Clear Spring Life & Annuity Company.
This annuity is a premium banded product. The interest rate you earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest 8 year guarantee period annual yield is 5.15% on premium amounts of $100,000 - $1,000,000. This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The Preserve Multi-Year Guaranteed Annuity 8 has a full penalty free withdrawal window after 8 years.
During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. In the first contract year, this annuity provides interest only withdrawals. Beginning in the second contract year, up to 10% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.
This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.
Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.
Clear Spring Life & Annuity Company is rated “A-” by A.M. Best, was founded in 1985, and has over $12.9 billion in total assets.
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Jan 20th, 2025
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8 years
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| Current | ||
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| 8 Year Guarantee Period Annual Yield: | 5.15% | |
| Interest rate start of year 1 through end of year 8: | 5.15% | |
Accumulation Value (assuming no withdrawals) |
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| Current | ||
|---|---|---|
| 8 Year Guarantee Period Annual Yield: | 4.85% | |
| Interest rate start of year 1 through end of year 8: | 4.85% | |
Accumulation Value (assuming no withdrawals) |
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8 years
8 years
8 years
State variations may exist, refer to product disclosure for details.
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$10,000
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$5,000
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$1,000,000
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$1,000,000
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90
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90
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45 days
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Yes
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Accumulation Value
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No
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Interest Only
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10%
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No
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Yes
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See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.
Not available in: NY (as of 04/01/2022)
For DE: No Market Value Adjustment (MVA).
For MA: No Nursing Home Waiver.
Description Here
