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Fixed Indexed Annuity

Highlander 7

Clear Spring Life

9.75%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual point-to-point cap

9.75% cap on S&P 500

A seven-year, A.M. Best A- rated fixed indexed annuity from Clear Spring Life, built around a no-fee S&P 500 annual point-to-point cap plus participation-rate alternatives on the same and proprietary indexes, with a shorter surrender commitment than the ten-year Highlander chassis and no lifetime-income rider in the design.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation-focused buyers who want a recognizable S&P 500 annual point-to-point cap and proprietary-index participation alternatives but are not willing to commit principal for a full ten years — Highlander 7's shorter surrender ladder gets them onto the same Clear Spring chassis with the same crediting menu in a seven-year commitment.

AM Best

A- Excellent

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

9.75% cap rate

S&P 500

S&P 500 Index

50% participation rate

Fixed Account

Fixed Account

4.5% declared rate

+ 2 volatility-controlled index options (S&P MARC, S&P 500)

Product analyst notes

How to think about this contract

Why it can stand out

  • Seven-year surrender term sits at the shorter end of the FIA market — buyers who do not want to commit principal for a full ten years can still get index-linked crediting on the same Clear Spring Highlander chassis without an extra three years of lockup.
  • Crediting menu pairs a recognizable S&P 500 annual point-to-point cap with a same-index participation-rate strategy, so a buyer can express either a like-for-like cap comparison against other FIAs or a higher-participation alternative on the same benchmark without switching contracts.
  • Beyond the S&P 500 cap and participation strategies, the index menu adds participation-rate strategies on the S&P MARC 5% Excess Return and S&P 500 Dynamic Intraday TCA indexes plus a daily-crediting fixed allocation, so a buyer can blend index exposure across cap, participation, and fixed designs inside a single seven-year contract.
  • Standard accumulation liquidity package is fully visible on this page — the published annual free-withdrawal allowance, the full seven-year surrender ladder, and nursing-home and terminal-illness surrender waivers — rather than gated behind a sales brochure.

What to confirm

  • There is no lifetime-income rider on this contract in the live data. Do not pitch Highlander 7 as a guaranteed lifetime-withdrawal product — its job is index-linked accumulation over the seven-year term, not income.
  • There is no premium bonus on Highlander 7 — that feature belongs to the ten-year Highlander chassis, not this seven-year filing. Buyers who specifically want the bonus must accept the longer surrender term that comes with it.
  • The S&P MARC 5% Excess Return and S&P 500 Dynamic Intraday TCA strategies are proprietary, volatility-controlled indexes. Their participation rates can look high in absolute terms but are not directly comparable to an uncontrolled S&P 500 cap, and these indexes have shorter live-track histories than the S&P 500 itself — evaluate each on its own forward characteristics rather than the headline participation number alone.
  • The death benefit on this contract is the standard contract value rather than a rolled-up or stepped-up income base, and the filing is not available in New York — confirm state availability before recommending to a New York buyer, and look elsewhere if a death-benefit roll-up is the priority.

Not ideal for

Buyers who need a contractually guaranteed lifetime-withdrawal rate from a GLWB rider, want the premium bonus filed on the ten-year Highlander instead of this seven-year filing, expect a stepped-up or rollup-enhanced death benefit, or live in New York — the filing is not available in NY and none of those features are what this contract is built to deliver.

All crediting strategies

View rate listings (10 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 175% · 1-yr

S&P MARC 5% Excess Return

participation

7-yr surrender

Par: 60% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

participation

7-yr surrender

Par: 50% · 1-yr

S&P 500 Index

participation

7-yr surrender

Cap: 9.75% · 1-yr

S&P 500 Index

cap

7-yr surrender

Fixed: 4.5% · 1-yr

Fixed Account

fixed

7-yr surrender

Par: 175% · 1-yr

S&P MARC 5% Excess Return

Par: 60% · 1-yr

S&P 500 Dynamic Intraday TCA Index (USD) ER

Par: 50% · 1-yr

S&P 500 Index

Cap: 9.75% · 1-yr

S&P 500 Index

Fixed: 4.5% · 1-yr

Fixed Account

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 10.00%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Strategy guarantee

Minimum guaranteed participation: 10.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

Yr 6

4%

Yr 7

3%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

product guide

Highlander-7-Brochure.pdf

Confidence: highReviewed Apr 7, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA-

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Highlander 7 currently shows 5 distinct indexed or fixed crediting choices across 10 current rate listings, including S&P 500 Index, S&P 500 Dynamic Intraday TCA Index (USD) ER, and Fixed Account, with 1 volatility-controlled index option grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 9.75% cap
  • S&P 500 Index: 50% participation
  • S&P 500 Dynamic Intraday TCA Index (USD) ER: 60% participation

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 7 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as Highlander-7-Brochure.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 8, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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