WealthChoice 5
The WealthChoice 5 Annuity is a dream product for retirees prioritizing peace of mind. It guarantees a robust income stream for your hard-earned nest egg, ensuring a worry-free retirement.
With excellent rates and the security of knowing you won't outlive your savings, the WealthChoice 5 Annuity is a reassuring lifeline for the future.
WealthChoice 5
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 Cap with Bailout |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year Horizon Ascend 5% PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
| 1-Year Barclays Global Quality PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Cap |
Point to Point
Annual
|
12.75%
Cap
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
6.5%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% |
Riders
No Riders for WealthChoice 5 annuity.
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. 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
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 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.
- A.M. Best A-
- Comdex 59
