WealthQuest Citadel 7 Diamond

American National Insurance Company
WealthQuest Citadel 7 Diamond-brochure WealthQuest Citadel 7 Diamond-brochure

WealthQuest Citadel 7 Diamond

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Ratings:

  • A.M. Best A
  • Fitch A
  • S&P A
  • Comdex 76

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% 3.21% 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.

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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