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
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 7 | 6.1% | 3.06% | 4.39% |
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
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.
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 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.
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