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Product Details
WealthChoice 7
Company social profile:
Product Name
WealthChoice 7
Annuity Type
FIA
Issuing Insurance Company and Ratings
Guaranty Income Life Insurance
Ratings
Product Information
The is a modified single premium fixed indexed annuity with a -year withdrawal charge period and an MVA provision. The provides advantages such as tax deferral, long-term growth, and a death benefit payout equal the accumulated value of the contract. The is not an investment in the stock market. It is a fixed annuity that credits interest based on distinct Index Account Options and the annual performance of the underlying indices with a fixed account option.
Key Features
Premium Types: 1st Year or Less
Minimum Premium: 20,000
Maximum Premium: 3,000,000
Free Look Period: 30 Days
Rate Lock Period: 45 Days
Tax-Qualified: IRA, NonQual, IRA-Roth, IRA Rollover
Rates
Initial Guarantee Period: N/A
Next Change: N/A
Premium Amount: $100,000 - See Notes (High-Band)
3 Year Guarantee Period Annual Yield:
Interest rate start of year 1 through end of year 3:
Current
4.05%
4.05%
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
Premium Amount: $100,000 - See Notes (Low-Band)
Non-Qual Qualified Min Single Premium: 20,000 20,000 Min Flexible Premium: 5,000 5,000 Additional Premium: 5,000 5,000 Max Premium: 3,000,000 3,000,000 Flex Premiums Permitted: 1st Year or Less Additional premium allowed in first year only to fixed account may be reallocated at the next anniversary.
Interest rate start of year 1 through end of year 3:
Current
4.05%
4.05%
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
State Approvals
Not available in AK GU HI ME NY PR VI
Withdrawal Provisions
First Year Withdrawals: 10%
Withdrawal Years 2+: 10%
Wait Period Interest Only : No Wait
Withdraw from the accumulation Value After : Immediately
Minimum Policy Value : $1,000
Withdrawl Calculated On: Accumulation
Date For Calculation: Issue
Systematic Withdrawl: Yes
Min Withdrawl Amount: $250
Cumulative Free Withdrawl: No
Eligibility & Restrictions
Age Limits(Owner and Annuitant): Min Age Annuitant: 90, Annuitization Age: 110, Max Issue Age w/ GLBR: 75
Premium Limits: Non-Qual Qualified Min Single Premium: 20,000 20,000 Min Flexible Premium: 5,000 5,000 Additional Premium: 5,000 5,000 Max Premium: 3,000,000 3,000,000 Flex Premiums Permitted: 1st Year or Less Additional premium allowed in first year only to fixed account may be reallocated at the next anniversary.
State Restrictions: Not available in AK GU HI ME NY PR VI
