CL Life CL Sundance 3 (w/ liquidity)
Product Overview
Basic Features
| Feature | Details |
|---|---|
| Product Name | CL Life CL Sundance 3 (w/ liquidity) |
| Insurer | CL Life and Annuity Insurance Company |
| Ratings |
|
| Agent/Broker | PlanEasy Inc. |
| Annuity Type | Multi-Year Guaranteed Annuity (MYGA) |
| Term | 3 Years |
| Current Rate for $10,000 - $1,000,000 | 5.50% |
| Last Rate Change | 03/05/2025, +20bps |
| Interest Type | Compound Interest |
| State Availability | AK, AZ, GA, LA, MI, MS, MT, NE, NM, ND, OH, OK, TN, TX, UT, VA |
| Free Withdrawals |
|
| Free RMDs | Yes |
| Death Benefit | Yes |
| MVA | Yes |
| Nursing Home Waiver | No |
| Terminal Illness Waiver | No |
| Surrender Charge by Year | 9.0%, 8.0%, 7.0% |
| Funding Sources | Personal Investment, Cash, Traditional IRA, Roth IRA |
| Terms Available | 2, 3, 5 Years |
| Age Restrictions | 0 to 90 Years Old |
Quick Summary
The CL Life CL Sundance 3 (w/ liquidity) is a 3-year Multi-Year Guaranteed Annuity (MYGA) issued by CL Life and Annuity Insurance Company and sold through PlanEasy Inc., a national online annuity agency.
Earn a guaranteed compound interest rate on this fixed annuity:
Your compound rate is locked in for 3 years, ensuring predictable, tax-deferred growth.
This fixed annuity is a strong alternative to bank CDs, offering stable returns with tax-deferred benefits.
The product has interest onlyinterst only
Withdrawals for RMDs are free.
There is also a traditional accumulated account value death benefit for your beneficiaries.
Earn a guaranteed compound interest rate on this fixed annuity:
- 5.50% for $10,000 - $1,000,000
Your compound rate is locked in for 3 years, ensuring predictable, tax-deferred growth.
This fixed annuity is a strong alternative to bank CDs, offering stable returns with tax-deferred benefits.
The product has interest onlyinterst only
Withdrawals for RMDs are free.
There is also a traditional accumulated account value death benefit for your beneficiaries.
Key Details
- Ratings: CL Life and Annuity Insurance Company is rated B++ by A.M. Best.
- Guaranteed Rates: 5.50% 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 3 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.
Current & Historical 3-Year Rates
| Premium Band | Effective Date | Guaranteed 3-Year Yield to Surrender |
|---|---|---|
| $10,000 - $1,000,000 | 03/05/2025 | 5.50% |
| 01/13/2025 | 5.30% | |
| 12/02/2024 | 5.10% | |
| 10/03/2024 | 4.50% |
Available Terms & Current Rates
| Premium Band | Term | Guaranteed Yield to Surrender |
|---|---|---|
| $10,000 - $1,000,000 | 2 | 5.10% |
| 3 | 5.50% |