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Preserve MYGA

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The Preserve MYGA is a single premium deferred annuity with a market value adjustment. The initial minimum premium is $5,000 for qualified and $10,000 for non-qualified money. 10% of the account value on the previous contract anniversary may be withdrawn without incurring withdrawal charges, except in any year where a full surrender occurs. Systematic withdrawals are an option. Surrender charges vary by rate term and are waived in the event of death, entrance into a nursing home or diagnosis of a terminal illness. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.

Free Withdrawals
One withdrawal per policy year equal to 10% of the previous anniversary account value in Year 2 and later. RMDs allowed in all years (with chargebacks Year 1).

Market Value Adjustment (MVA)
A Market Value Adjustment (MVA) will be applied any time a surrender charge is applied. The purpose of the MVA is, in case of an early withdrawal, to adjust the value of your funds for the change in interest rates. The change is measured by comparing the base interest rate credited in your contract, with the base interest rates being credited by the company on current sales of the same contract form. An upward change in base interest rates will cause a decrease in the value. A downward change in base interest rates will cause an increase in the value. The value of a negative adjustment for a 1% increase in interest rates will be the same as the value of a positive adjustment for a 1% decrease in interest rates. The benefit of having an MVA is that Clear Spring Life can offer a higher interest rate than it would offer if the contract did not contain an MVA provision. The MVA does not apply to penalty-free withdrawals, to the payment of a death benefit, or at the end of the guarantee period. Please refer to page seven of the contract for the MVA provision. It will apply to withdrawals that exceed the penalty-free withdrawal amount during a guarantee period. The MVA is not applicable in Delaware.

Death Benefit
The named beneficiary(ies) of the Preserve Multi-Year Guaranteed Annuity will be paid a death benefit that is equal to the account value. Your beneficiary may choose to receive the payouts 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.

Rate Bands 
  • Q: $5,000-$249,999 and $250,000+ 
  • NQ: $10,000-$249,999 and $250,000+ 
At the end of the initial guarantee term, there is a 30-day window to withdraw funds before the Contract will renew at a new rate for another term. Surrender Charges and MVA will restart. Not applicable in Delaware

Note: We take inherited/beneficiary IRA as a plan type only if person died before 2020;  as a rollover.

MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
3 years 4.65%
4 years 4.8%
5 years 4.85%
6 years 4.8%
7 years 4.75%
8 years 4.75%
9 years 4.75%
10 years 4.75%

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