WealthChoice 7
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 |
Term
|
7 Years |
Surrender schedule
|
9%8%7%6%5%4%3% |
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
|
90 |
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 7 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
|
55%
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
|
11.95%
Cap
|
1-Year Horizon Ascend 5% PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
1-Year Barclays Global Quality PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
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
Charges waived due to diagnosis of terminal illness and/or confinement to nursing home after contract is issued.
Confinement
Charges waived due to diagnosis of terminal illness and/or confinement to nursing home after contract is issued.
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