WealthChoice 10 with Bonus
The WealthChoice 10 with Bonus annuity is a savvy choice for retirees looking to pair steady income with excellent growth potential. This insurance product guarantees income for life while catching the benefits of market growth, letting you retire comfortably.
The real cherry on top is a nifty bonus feature that boosts your investment power. The people behind WealthChoice 10 with Bonus have your future in mind. Your golden years will truly shine with this annuity!
WealthChoice 10 with Bonus
About Product
- 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.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
25%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2%
Cap
|
| 1-Year S&P 500 PTP Cap with Bailout |
Point to Point
Annual
|
6.25%
Cap
|
| 1-Year Horizon Ascend 5% PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
| 1-Year Barclays Global Quality PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
5.3%
Performance triggered
|
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
Bail-Out
If the next declared cap rate for the Annual Point-to-Point Cap crediting strategy falls below the bailout rate during the surrender charge period, the surrender charges and Market Value Adjustment are waived for the total Account Value for a 30-day window.
Nursing Home
Charges waived due to diagnosis of terminal illness and/or confinement to nursing home after contract is issued (note that premium bonus may still be recaptured upon terminal illness and/or confinement to nursing home.) 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. Note that premium bonus may still be recaptured upon terminal illness and/or confinement to nursing home.
Confinement
Receiving continuous care for at least 30 days from a hospital or long-term care facility. Note that premium bonus may still be recaptured upon terminal illness and/or confinement to nursing home.
Premium Notes
Maximum Age
Maximum issue age is 80.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
Free Partial Withdrawals10% 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 WithdrawalsDepending 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.
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