American National Insurance Company
4.8
based on complex data
Annuity Educator Rating
Annuity review

WealthQuest Citadel 7 Diamond

The WealthQuest Citadel 7 Diamond annuity offers a flexible approach to retirement planning. With an initial contribution as low as $5,000 or $2,000 for non-qualified and qualified funds respectively, the product offers a manageable entry point. Plus, additional premium payments can be made on a scheduled basis or whenever funds are available, adding levels of flexibility hard to find elsewhere. The best part? These premium payments may receive a 2% interest rate enhancement within the first 36 months, meaning your money works harder for you.

Accessing your funds is simple too. You can withdraw up to 10% of your annuity value free of surrender charges each year. Even better, full withdrawals and partial withdrawals are straightforward, providing security and accessibility when you need it. As an added advantage, the WealthQuest Citadel 7 Diamond waives all surrender charges in the event of disability, death or entrance into a nursing or care home, providing reassurance during difficult times. Retiring should feel like a reward, not a puzzle, and this product seems to understand that well.

WealthQuest Citadel 7 Diamond-brochure WealthQuest Citadel 7 Diamond-brochure

WealthQuest Citadel 7 Diamond

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About Product

Premium Type
Flexible Premium
Fee withdrawal:
10% (From Year 2)
Market Value Adjustment
No
Return Of Premium
Yes
Minimum Contribution
$2,000
Maximum Contribution
$3,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, KEOGH, Inherited IRA, and TSP
Launch Date
03/01/2004

Traditional Fixed Annuity Interest Rates

Surrender Years First Year Yield Term Guaranteed Yield Term Current Yield
7 6.1% 3.06% 4.39%
The WealthQuest Citadel 7 - Diamond Series is a flexible premium deferred annuity. The minimum initial contribution is $5,000 for non-qualified funds and $2,000 qualified. 10% of the accumulated value is available for withdrawal. Surrender charges are seven years in length and are waived in the event of death, disability, entrance into a nursing home or hospital, or diagnosis of a terminal illness.

Flexible Premiums
Once you establish your annuity with the initial premium payment, you can make additional premium payments either on a scheduled basis or alternately, whenever you have the available funds to do so.

Additional Premium Payments 
  • $1,000 non-scheduled check 
  • Electronic Fund Transfer (EFT): $100 monthly, $300 quarterly, $600 semiannually, or $1,200 annually
Interest Rate Enhancement
All premium payments made within the first 36 months of issuance of the contract may receive a 2% interest rate enhancement above the current declared 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. 

Year by Year Account Balance

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Riders

No Riders for WealthQuest Citadel 7 Diamond annuity.

Waivers

Death

Upon the death of the owner, the full value of the WQCD 7 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) 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.

Company Founded: 1905
Excellent Rated Company
American National Insurance Company
Company Ratings
4.1
  • A.M. Best A
  • Fitch A
  • S&P A
  • Comdex 75
Assets: $27,768,358,890
Texas

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