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The Highlander is a single premium deferred fixed indexed annuity offering multiple crediting strategies and a fixed interest rate strategy. Surrender charges will apply to certain withdrawals during the first 10 years of the Contract. If applicable in your state the Highlander includes a Market Value Adjustment ("MVA") that applies when surrender charges apply. 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
Fixed Index
Purpose Lifetime Income
Premium Bonus
10 Years
Surrender schedule
Free withdrawal
1st year: 0%
2nd+ year: 10%
Market value adjustment
Return of premium
Launch date
Minimum contribution
Qualified: $5,000
Non-Qualified: $10,000
Maximum contribution
Max Age Qualified
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, 1035 Exchange, Inherited IRA, and TSP
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Find out if the Highlander is the right product for you.

Premium Notes

Minimum Qualified: $5,000
Minimum Non-Qualified: $10,000
Additional Premium Minimum: $500
Maximum Premium: $1,000,000
Highlander allows for additional premiums in the first year of the contract only and it is not set up on an automatic basis. Also, any additional premiums in the first year will go to the fixed account and will be available to reallocate at the first anniversary of the policy.

Note: Clear Spring takes inherited/beneficiary IRA as a plan type only if person died before 2020;  as a rollover.

Withdrawal Provisions

10% Annual Free Withdrawal
A single, penalty-free withdrawal of up to 10% of the account value may be taken beginning in the second contract year. Surrender charges, recapture charges, and market value adjustment will be waived on any penalty-free amount withdrawn.
Amounts withdrawn in excess of the 10% of the penalty-free amount will incur a surrender charge, premium bonus recapture charge, and market value adjustment, if applicable. Surrender charges on Internal Revenue Service (IRS) required minimum distributions (RMD) exceeding the penalty-free withdrawal amount will be waived.

Allocation Accounts

Name Type Rates
1-Year Fixed Account
3.25% Fixed
1-Year S&P 500 PTP Cap
Point to Point
7% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
40% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
160% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 10% 9% 8% 7% 6% 5% 4% 3% 2% 1%


Name Inbuilt Fee
Lifetime Withdrawal Rider No 0.90% annually
Lifetime Withdrawal Rider (MA, MT) No 0.90% annually



The Highlander 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

Nursing Home

Unavailable in states: MA

This contract provides access to the full account value, without surrender charges and market value adjustment, should the owner become confined to a nursing home after the first contract anniversary. The contract must be issued prior to the owner’s age of 76 and confinement in a nursing home must be for 90 continuous days. The nursing home waiver does not include home health care.

Terminal Illness

If the owner is diagnosed with a critical illness (heart attack, stroke, life threatening cancer) or is deemed terminally ill by a physician, the full account value may be accessed without surrender charges and market value adjustment. Eligibility is subject to rider provisions which are: 1) Terminal illness-physician must certify that the owner’s life expectancy is nine months or less; 2) Critical illness- the contract must have been purchased prior to the owner’s age of 70.

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