Here are some of the reasons why our members love our products.
Financial stability: Historically, our rates have remained steady at application rate (and have even gone up). You can feel confident that no matter the economic situation, your retirement savings is guaranteed to earn no less than a minimum of 2.00% APY each year.
Fraternal Benefit Package gives our members ultimate flexibility to their money. This (free) benefit waives the declining penalty (surrender charge) in case of serious illness, nursing home confinement, or other catastrophic event. In addition, CLC will waive these surrender charges for significant medical expenditures for both annuitant and spouse.
100% of your money earns interest
No sales charges, no service fees, no yearly maintenance fees
No start-up fees, no membership fees, no backend loads
CLC allows for 15% annual penalty-free withdrawal after the 1st year (many companies only offer between 5-10%)
Annuities and IRA
9 Year Fixed Deferred Annuity/IRA 3.75* APY Minimum Deposit $300/Maximum Deposit $250,000 per policy ($500,000 per member)
7 Year Fixed Deferred Annuity/IRA
3%* APY Minimum Deposit $300/Maximum deposit $250,000 per policy ($500,000 per member)
5 Year Fixed Deferred Annuity/IRA 2.75%* APY Minimum Deposit $300/Maximum deposit $250,000 per policy ($500,000 per member)
*The above rates are effective as of 12/31/2015 and are subject to change.
Fixed Deferred Annuities:
interest accumulates tax-deferred
may be tax deductible in the year purchased
each spouse may contribute $5,500 per tax year to their own individual retirement annuity (IRA) ($6,500 for those 50 and older)
minimum distributions begin at age 70 1/2
each spouse may contribute $5,500 per tax year to their own roth IRA plan ($6,500 for those 50 and older)
working individuals may contribute beyond age 70 ½ with no age or minimum distribution requirements