Key Features of the ViStar ® Fixed Indexed Annuity
Allocating and Reallocating Accumulated Value in an Indexed Annuity
Issue Age Range 0-80
Tax Deferral Federal income tax on interest
Terminal Illness Rider* If the owner becomes terminally ill or is deemed terminally ill by a physician, ViStar ® allows withdrawals up to the full account value without surrender charges or applicable market value adjustments. Eligibility is subject to rider provisions, which are:
accumulated in the ViStar ® 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. 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. Nursing Home Care Rider* Should the owner become confined to a nursing home, ViStar ® 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. Death Benefit The ViStar ® annuity pays your named beneficiary(ies) 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.
Premiums Minimum Qualified $5,000
Minimum Non-Qualified $10,000
1. Physician must certify that the owner’s life expectancy is nine months or less; or
Additional Premium Minimum
$500 (1st year only)
2. The owner is diagnosed with a heart attack, stroke or life
Maximum Premium $1,000,000
threatening cancer after the policy was purchased, in force for one year and owner is not over age 70.
You are given indexed crediting strategy options when first purchasing the ViStar ® Fixed Indexed Annuity. This is an important step in determining the overall performance of the annuity. Often individuals utilize multiple strategies at once to create a diversified investment given the uncertainty of future market performance. It is important to remember what an index has done in the past is no guarantee on how it may perform in the future. Diversification assists
in eliminating the guesswork. The ViStar ® Fixed Indexed Annuity also allows for the option of reallocation each contract anniversary. This allows for flexibility throughout the life of the contract along with the ability to have a truly personalized investment experience.
Please refer to the contract for full details.
10 ViStar ® Fixed Index Annuity
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Clear Spring Life and Annuity Company
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