WealthQuest Citadel 5 Diamond NY
The WealthQuest Citadel 5 Diamond NY annuity helps provide a safe and secure retirement. It lets you make both single and additional premium payments in the first contract year, enhancing flexibility. You're also guaranteed an accumulation interest rate for two years and any premium payments within the first year may come with a 1% interest rate enhancement.
This annuity safeguards your principal 100%, meaning you will at least get back what you paid in - not a penny less. It also comes with a guaranteed minimum interest rate that ensures a steady growth of your invested amount. With effective tax-deferral properties, you're free from taxes until withdrawal, leaving more room for your wealth to grow. It also provides easy access to your funds when needed and ensures that in situations of disability or confinement, the surrender charges are waived.
WealthQuest Citadel 5 Diamond NY
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 4% | 2.75% | 3.2% |
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:
- 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 NY 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
Not available if owner is receiving social security benefits on date of issue, is age 65 or greater at time of disability, or was diagnosed with a terminal illness prior to date of issue. Available up to an aggregate amount of $250,000 over the lifetime of the annuity contract.
Confinement
Surrender charges may be waived if the contract owner 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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