WealthQuest Citadel 5 Diamond NY

The WealthQuest Citadel 5 Diamond Annuity NY is a single premium deferred annuity that allows for additional premium payments in the first year. The minimum initial contribution is $5,000 for both qualified and non-qualified funds. 10% of the accumulated value is available for withdrawal. Surrender charges are five years in length and are waived in the event of death, disability, or entrance into a nursing home or hospital. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.

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.

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: