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Clear Income Advantage

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Premium Type
Single Premium
Min age Qualified
Max age Qualified
Minimum Contribution
Maximum Contribution
Market value adjustment
Return of premium
Free withdrawal
Launch date
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, and IRA-Roth
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Clear Income Advantage Fixed Annuity is a fixed deferred annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB) designed for clients who are looking for income with some liquidity.

Issue ages 
  • Non-Tax Qualified: 50–80 
  • Tax Qualified: 50–80 
Minimum initial premium 
  • $50,000 

Market Value Adjustment (MVA)
An MVA applies when the policyowner surrenders or makes a withdrawal from the contract that is greater than the surrender-charge-free withdrawal amount during the surrender-charge period. An MVA is not applicable after the surrender charge period is over.

Death benefit
In the event of your death, your beneficiaries will receive the remaining Accumulation Value of the policy.

Withdrawal options
There are several ways to access the money in your Accumulation Value. 
  • Early access withdrawal — Before lifetime withdrawals begin, you have the flexibility to take one early access withdrawal, also referred to as a non-lifetime withdrawal. (Surrender charges and a market value adjustment may apply.) This withdrawal will not interrupt the accumulation of deferral credits. However, the Early Access Withdrawal will reduce your adjusted premium7 dollar-for-dollar and lower your guaranteed income amount. 
  • Lifetime withdrawal (GLWB) — You may begin your lifetime withdrawals any time after you turn 59½. Withdrawals are taken as income from the Accumulation Value of the policy and are guaranteed to continue for life even if the Accumulation Value is eventually exhausted. 
  • Full policy surrender — You may surrender the policy at any time (Surrender charges and/or Market Value Adjustment (MVA) may apply). 
All withdrawals taken prior to or in excess of your guaranteed lifetime withdrawals will result in a proportional reduction to the GLWB amount. However, not all withdrawals will result in surrender charges or MVA. MVA and surrender-charge-free withdrawals include the greatest of: 
  • Annual GLWB amount (once lifetime withdrawals have begun) 
  • 10% of the Accumulation Value as of the previous anniversary 
  • 10% of the current Accumulation Value 
  • 100% of the gain earned in the policy (for policies with a premium amount of $100,000 or more) 
  • Annual required minimum distribution (RMD) amount 

Find out if the Clear Income Advantage is the right product for you.

MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
7 years 1%


Name Inbuilt Fee
Clear Income Advantage GLWB rider Yes 0.95% annually



If you need immediate access to the money in your policy, this rider may give you some flexibility in accessing it, assuming you meet one of the following qualifying events: You are enrolled and living in a health care facility for 60 consecutive days, are diagnosed with a life expectancy of 12 months or less by a licensed physician, have a total and permanent disability that prevents you from performing any work for pay or profit for at least 12 consecutive months, or qualify for and have been receiving state unemployment benefits for 60 consecutive days. You may be eligible to make a withdrawal or receive the Accumulation Value with a full or partial waiver of surrender charges, but in order to be eligible, the qualifying event must take place on or after the policy date, and the policy must be in force for at least one year prior to receiving any benefits.

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