WealthChoice 10
WealthChoice 10
Your Email
Ratings:
- A.M. Best A-
- Comdex 59
About Product
Type
Fixed Index
Purpose
Lifetime Income
Term
10 Years
Surrender schedule
10%9%8%7%6%5%4%3%2%1%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
Yes
Minimum Contribution
$20,000
Maximum Contribution
$1,000,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, 401k, IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, IRA-Roth, SIMPLE IRA, 457 plan, 1035 Exchange, and TSP
Launch Date
05/01/2020
As a Fixed Indexed Annuity, WealthChoice offers you many financial perks.
- Diversified Savings Tool. You have competitive alternatives designed to perform well in different financial environments with a variety of interest rates.
- Tax-Deferred Compounding. The growth power of an annuity may increase significantly throughout the life of your contract.
- Protection from Declines. If indexes do decrease, your WealthChoice annuity will not be affected, because our guarantees will mitigate that risk.
Available in states:
AL, AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, IA, KS, KY, LA, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, and WY
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.25%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
| 1-Year Horizon Ascent 5% PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year Barclays Global Quality PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| United Wealth Choice GLBR - Level | No | 0.95% annually |
| United Wealth Choice GLBR - Increasing | No | 0.95% annually |
Waivers
Nursing Home
Charges waived due to diagnosis of terminal illness and/or confinement to nursing home after contract is issued. The nursing home waiver does not include home health care.
Terminal Illness
A health condition or injury experienced, which to a reasonable degree of medical certainty, confirmed by a Physician, will result in that person’s death within one year.
Confinement
Receiving continuous care for at least 30 days from a hospital or long-term care facility.
Premium Notes
Additional premium allowed in first year only to fixed account, which may be reallocated at the next anniversary. Minimum additional premium is $5,000.
Maximum Age
If adding GLBR, the maximum issue age is 80.
Note: TSP funds have to be rolled into an IRA.
Maximum Age
If adding GLBR, the maximum issue age is 80.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
Free Partial Withdrawals
10% of the prior anniversary’s Accumulation Value is available free of surrender charge and MVA, applies in all years. During the first year, it is 10% of the initial premium.
Systematic Withdrawals
Depending on your withdrawal preference, you can elect to be paid on an annual, semi-annual, quarterly or monthly basis.
Required Minimum Distributions
The amount that the IRS requires you to withdraw annually after age 73 is always available without a surrender charge penalty, even if the amount is greater than your free annual withdrawal amount.
10% of the prior anniversary’s Accumulation Value is available free of surrender charge and MVA, applies in all years. During the first year, it is 10% of the initial premium.
Systematic Withdrawals
Depending on your withdrawal preference, you can elect to be paid on an annual, semi-annual, quarterly or monthly basis.
Required Minimum Distributions
The amount that the IRS requires you to withdraw annually after age 73 is always available without a surrender charge penalty, even if the amount is greater than your free annual withdrawal amount.
Other United Life Products
You might also be interested in
