WealthQuest Citadel 5 Diamond
The WealthQuest Citadel 5 Diamond annuity is a wonderful option for those looking to live a comfortable retirement. This annuity offers a secure way of building and preserving your wealth and guarantees 100% of your principal amount. The provision of fixed premium rates with an option for additional payment in the first year only adds to its flexibility.
Moreover, it alleviates stress about tax deductions as taxation is deferred, meaning you pay no taxes on interest earned until funds are withdrawn. Also, under certain circumstances like illness or confinement, the surrender charges can be waived which makes it very helpful in times of crisis. This annuity is a great way to secure your assets, enhance your peace of mind, and ensure a financially stable future post-retirement.
WealthQuest Citadel 5 Diamond
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 5.05% | 3.17% | 4.25% |
Flexible Premiums
You can establish your annuity with a single premium payment, but you also have the option to make additional premium payments in the first contract year only.
Interest Rate Enhancement
Premium payments made within the first contract year may receive a 1% interest rate enhancement above the current declared accumulation interest rate for the first year.
Surrender Charge Free Withdrawals
Starting in the first contract year, you can withdraw up to 10% of your annuity value as of the beginning of your annuity’s contract year, free of any surrender charges.
Full Withdrawal
You may surrender the contract for the full surrender value, which will terminate the contract upon payment.
Partial Withdrawal
You may take a partial withdrawal from the surrender value, which will keep the contract in force. You can specify the withdrawal amount, subject to a minimum value of $250.
Systematic Withdrawals
You can also make systematic payments for a fixed amount or interest only payments on a monthly, quarterly, semi-annual or annual basis. (Fixed amount payments can be as low as $50.00 if directly deposited.) The systematic withdrawal feature may also be used for mandatory distributions on IRA policies once you reach age 70½.
Note:
We will accept the following Inherited IRA:
- Non-Spouse ONLY if the original owner passed away prior to 01/01/2020.
- If the DOD is on or after 01/01/2020 we will only accept Spousal Inherited IRAs.
Riders
No Riders for WealthQuest Citadel 5 Diamond annuity.
Waivers
Death
Upon the death of the owner, the full value of the WQCD 5 contract would pass to the named beneficiary. There are no surrender charges and no extra expenses to deplete the intended request. By naming a beneficiary for your annuity, you also avoid the inconvenience of probate.
Annuitization
Available after the first policy year for a minimum of 10 years.
Disability
Unavailable in states: CT
Surrender charges may be waived if, prior to age 65, the owner (both owners in the case of joint owners), is diagnosed as having a disability. This waiver of surrender charge is available immediately after issue.
Confinement
Unavailable in states: CA, and CT
Surrender charges may be waived if the contract owner (both owners in the case of joint owners except in New York) is confined to a licensed hospital, licensed convalescent care facility, skilled nursing facility, custodial care facility, or licensed facility for 30 or more days. This waiver of surrender charge is available beginning 90 days after issue. The nursing home waiver does not include home health care.
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