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CL Tarrant Trail

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Learn how an annuity can provide guaranteed income for life.

CL Tarrant Trail is a single premium deferred annuity that offers: 
  • A 12-month interest rate guarantee period that is reset on each policy anniversary. 
  • In the first year, receive an extra bonus on top of the interest rate. This bonus is equal to the difference between the declared first-year interest rate and the stated bailout rate. 
  • The ability to withdraw all or some of the policy value, if the declared renewal interest rate is below the stated contract Bailout interest rate (Bailout feature). 
  • A 6-year surrender charge schedule. 
  • A maximum issue age of 90. 
  • Penalty-free withdrawal is the greater of 10% of account value or Required Minimum Distribution starting in year 2. 
Access to Your Money Through Penalty-Free Withdrawals
It is possible that you may need to withdraw a portion of your annuity value.
Starting in year 2, the CL Tarrant Trail annuity allows you to make a partial withdrawal of up to 10% of your annuity account value based on your prior anniversary value or your Required Minimum Distribution, whichever is greater, without surrender charges or Market Value Adjustment* (MVA). Amounts withdrawn in excess of the 10% penalty-free amount will incur surrender charges and market value adjustment, if applicable.

Additional Liquidity Feature
The CL Tarrant Trail Annuity has a Bailout Interest Rate Waiver of Surrender Charges.
During the surrender charge period, if the renewal interest rate is less than the stated contract Bailout Interest rate, surrender charges and market value adjustment are waived for partial and full surrenders requested within 30 days after the contract anniversary.
You have the opportunity to surrender or transfer all or some of your contract value without incurring a surrender charge or market value adjustment.

Market Value Adjustment
A Market Value Adjustment (MVA) will be applied anytime a surrender charge is incurred.
The MVA does not apply to penalty-free withdrawals, to the payment of a death benefit, or at the end of the surrender charge period.
The purpose of the MVA, in case of an early withdrawal, is to adjust the value of your funds for the change in interest rates. It is based on the change of the 7-year Treasury yield between the issue date and the withdrawal date. The adjustment can be positive or negative.

Death Benefit
The named beneficiary(ies) of the CL Tarrant Trail Annuity will receive a death benefit that is equal to the full account value. If the contract is continued by a surviving spouse who is the sole beneficiary of the contract, the account value will continue according to the terms of the contract.
Your beneficiary may choose to receive the payout in either a lump sum or a series of income payments. In the case of joint owners, the death benefit is paid on the death of the first owner.

Lifetime Income Option
A valuable feature of annuity contracts is the ability to create a life-long paycheck for yourself, providing you with an income that you cannot outlive. CL Life and Annuity offers you a guaranteed income stream with the purchase of your tax-deferred annuity, through the ability to annuitize, which turns the deferred account into a regular stream of payments. There are several different annuity payout options available to meet your future income needs, including: 
  • A payout for a certain period 
  • A payout for your entire life with a guaranteed period 

Traditional Fixed Annuity Interest Rates

Surrender Years First Year Yield Term Guaranteed Yield Term Current Yield
6 7% 2% 5.75%

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