ProOption Multi-Year Guaranteed Annuity with ROP 10
Multi-Year Guarantee Annuity
The ProOption Multi-Year Guaranteed Annuity with ROP 10 is a deferred multi-year guarantee annuity issued by Clear Spring Life & Annuity Company.
The current 10 year guarantee period annual yield is 4.30% (see Rate Details below). 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 ProOption Multi-Year Guaranteed Annuity with ROP 10 has a full penalty free withdrawal window after 10 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 Beginning in the second contract year, up to 10% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.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 $13.2 billion in total assets.
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Dec 1st, 2022
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10 years
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| Current | |
|---|---|
| 10 Year Guarantee Period Annual Yield: | 4.30% |
| Interest rate start of year 1 through end of year 1: | 3.85% |
| Interest rate start of year 2 through end of year 2: | 3.95% |
| Interest rate start of year 3 through end of year 3: | 4.05% |
| Interest rate start of year 4 through end of year 4: | 4.15% |
| Interest rate start of year 5 through end of year 5: | 4.25% |
| Interest rate start of year 6 through end of year 6: | 4.35% |
| Interest rate start of year 7 through end of year 7: | 4.45% |
| Interest rate start of year 8 through end of year 8: | 4.55% |
| Interest rate start of year 9 through end of year 9: | 4.65% |
| Interest rate start of year 10 through end of year 10: | 4.75% |
10 years
10 years
10 years
State variations may exist, refer to product disclosure for details.
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$10,000
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$10,000
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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 03/06/2019)
For DE: No Market Value Adjustment (MVA).
For MA: No Nursing Home Waiver.
Includes a return of premium feature that guarantees you will receive no less than your original premium, less the sum of any early withdrawals, should you decide to surrender your annuity at any time.
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