Key Features of the Highlander® Fixed Indexed Annuity
After meeting with their financial advisor, John and Annie feel better knowing they have a plan set in place for retirement that protects them from these four key risks.
Issue Age Range 0-80
Tax Deferral Federal income tax on interest
Death Benefit The Highlander ® annuity pays your named beneficiary the full account value on death. Options for income payments may be available instead of taking a lump sum. If the spouse is the sole Primary Beneficiary, they have the option to continue the annuity in the surviving spouse’s name. Premium Bonus A premium bonus of 10% will be added to the Account Value for all premium deposited in the first year. A recapture charge may be applied for early withdrawals. This bonus is not applied to any Lifetime Withdrawal Rider.
accumulated in the Highlander ® is deferred until you take withdrawals out of the contract. This means that you will be earning interest on money that you would otherwise have to pay taxes on. If you withdraw money from the contract before you are age 59 ½, you may have to pay a tax penalty. Free Withdrawals A single penalty-free withdrawal, of up to 10% of the account value, may be taken each year beginning in the second contract year. Surrender charges or market value adjustment will be waived on free withdrawal amounts. Please refer to the contract for full details. Nursing Home Care Should the owner become confined to a nursing home, Highlander ® provides access to the full account value, without surrender charges or applicable market value adjustments. The benefit becomes available after the first contract anniversary. The contract must be issued prior to the owner’s age of 76 and the confinement in a nursing home must be for at least 90 continuous days. Not available in MA. Please refer to the Contract for full details. Terminal Illness If the owner is diagnosed with a critical illness or is deemed terminally ill by a physician, Highlander ® allows withdrawals up to the full account value without surrender charges or market value adjustments. Please refer to contract for full details.
Premiums Minimum Qualified $5,000
Minimum Non-Qualified $10,000
They knew there were risks, but never had someone explain them. They now have peace of mind knowing that the Highlander ® is protecting them against these unwanted risks in retirement.
The Highlander ® will provide John and Annie a guaranteed income, much like a pension, to supplement their retirement needs for the rest of their lives. This gives John and Annie guaranteed safety to be able to enjoy their retirement and the control of their tax situation.
10 Highlander ® Fixed Index Annuity
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Clear Spring Life and Annuity Company
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