CUSIP Number:
92911R402
CUSIP Name:
5 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
Voya Quest 5 is a flexible premium deferred fixed index annuity with a market value adjustment. The minimum initial contribution is $15,000 for qualified and non-qualified funds. Additional premium payments can be made for a minimum of $1,000. Interest may be withdrawn from the Fixed Rate Strategy in the first year; 10% of the accumulation value may be withdrawn each contract year after the first without a surrender charge and Market Value Adjustment. Systematic Withdrawal is an option. There are five years of surrender charges which may be waived in the event of death, entrance into a nursing home or diagnosis of a terminal illness. The Voya myIncome Withdrawal Benefit provides an optional guaranteed income for life. There is an optional Return of Premium Benefit which guarantees that if the owner withdraws the entire accumulation value to terminate the contract, the amount paid to the owner will never be less than all premiums paid minus any prior net withdrawals and any applicable premium tax the company withholds for the contract owner. Withdrawals may result in federal income tax and an additional 10% IRS penalty tax prior to age 59 ½.
Last Modified:
02 Aug 2023 07:58