CL Life CL Sundance 2 (w/ liquidity)

Quick Summary

Key Details

• Ratings: CL Life and Annuity Insurance Company is rated B++ by A.M. Best.
• Guaranteed Rates: 5.10% for premiums of $10,000 - $1,000,000. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
• Term: The interest rate is guaranteed for 2 years with a surrender charge schedule of the same duration.
• Free Withdrawals: Yes, there is liquidity as the product allows for interest only in year 1 and interest only in year 2+ that do not incur any surrender charges.
• RMDs: Yes, RMDs can be taken out without penalty.
• Age Eligibility: Available for owners between 0 to 90 years old.
• Minimum Premium: Investors can contribute a minimum of $10,000
• Death Benefit: Yes, the product has a traditional death benefit of the annuity's accumulation value, available to the beneficiary with no surrender charges.
• Market Value Adjustment (MVA): Yes, the MVA is applicable to any withdrawals that also incur surrender charges.
• Nursing Home Waiver: No, there is no nursing home waiver.
• Terminal Illness Waiver: No, there is no terminal illness waiver.