WealthChoice 10 with Bonus
Highlights
- 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.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Premium Bonus
|
5% |
|
Term
|
10 Years |
|
Surrender schedule
|
10%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
05/01/2020 |
|
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 |
Brochure
|
Open brochure |
Find out if the WealthChoice 10 with Bonus is the right product for you.
Premium Notes
Maximum Age
If adding GLBR, the maximum issue age is 80.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
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 72 is always available without a surrender charge penalty, even if the amount is greater than your free annual withdrawal amount.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
5.25%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
3.5%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.75%
Cap
|
| 1-Year Horizon Ascend 5% PTP Participation Rate |
Point to Point
Annual
|
120%
Participation
|
| 1-Year Barclays Global Quality PTP Participation Rate |
Point to Point
Annual
|
145%
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 (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.
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