Why it earned this rating
Our assessment
WealthChoice Bonus 10-Year earns a solid rating because the 10% premium bonus is a real credit that goes directly into account value, the fixed account rate and performance trigger are competitive at current levels, and the product includes a meaningful suite of liquidity waivers. What holds it at this level rather than higher is that the bonus comes at a real cost — lower crediting terms than the non-bonus sibling — the vesting schedule means you do not fully own the bonus until year six, and the mutual exclusivity between the bonus and the income rider removes a potential use case entirely.
The short version
This is a 10-year fixed indexed annuity that leads with a 10% account-value premium bonus. The bonus is not free money: the brochure materials acknowledge directly that caps and participation rates are lower on the bonus version than on the non-bonus WealthChoice 10-Year. The math matters here — a lower annual cap compounding over 10 years can erode or erase the bonus advantage depending on market conditions. Buyers who are committed to the accumulation use case and are realistic about that tradeoff can find this product structurally sound, with a good crediting menu and a well-designed set of access provisions.
Key facts
The full review
Is Guaranty Income Life WealthChoice Bonus 10-Year a Good Annuity?
It depends on what you are optimizing for. If your goal is the highest long-term accumulation from an FIA, the bonus version is not automatically the better choice — the compressed crediting terms mean the non-bonus sibling likely produces similar or better outcomes in good index years. If your goal is a guaranteed credit to account value at issue, a lower entry point for the return-of-premium guarantee, or a floor on what gets passed to beneficiaries, then the bonus structure has genuine utility. I think it is a reasonable product for buyers who understand that the 10% is not additive upside but rather a structural front-load that shifts the yield curve of the contract.
Why Someone Would Buy This Annuity
The main reason to choose the bonus version over the standard WealthChoice 10-Year is the psychological and practical floor it provides. A 10% bonus on a $100,000 premium means the account starts at $110,000, and the return-of-premium guarantee after year five is calculated on the original $100,000 — so the buyer has more than their initial premium as a starting base for growth. Buyers who are worried about early performance, want a stronger legacy floor, or simply prefer to start with more in the account even if the crediting terms are modestly lower will find that logic compelling. The fixed account at 5.00% and the performance-triggered strategy at 5.30% are also attractive options for buyers who want predictability rather than full index exposure.
Who This Annuity Is Best For
I think WealthChoice Bonus 10-Year is best for a buyer in their mid-50s to mid-70s who has true long-term retirement dollars, wants a principal-protected structure, and values the psychological and mechanical advantage of starting the contract at 110% of their premium. It is a qualified or non-qualified account-compatible product — the RMD-friendly terms make it usable in IRAs. It is less attractive for someone who expects to need the income rider in combination with the bonus (that combination is not available), for someone primarily chasing maximum index upside (the bonus version caps that upside), or for someone who might need significant access to principal in years one through five.
What You're Really Buying Here
You are buying a 10-year insurance contract that credits your initial account at 110% of premium, then earns interest based on a combination of index-linked crediting options and a fixed account, all with a principal-protection floor and a minimum guaranteed surrender value. You are not buying direct index participation — every strategy either caps your upside, uses a participation rate below 100% on most options, or uses a volatility-controlled index that moderates returns on its own. The 10% bonus is an account-value credit, not a guaranteed interest rate — it vests ratably from year two through year five and is fully yours from year six forward. The trade is clear: you get a better starting balance in exchange for lower annual crediting potential.
How the Core Feature Works
The premium bonus credits 10% of your initial premium and any additional premiums paid within the first 90 days directly into your account value. Those bonus dollars are allocated across the same crediting strategies you elect for the rest of your premium. The vesting schedule is 0% in year one, then 2%, 4%, 6%, 8%, and 100% (fully vested) in years two through six. That means if you surrender in year three, you keep only 4% of the original bonus — not the full 10%. At death, or if you qualify for the nursing home or terminal illness waiver, the bonus is fully vested regardless of how many years have elapsed.
For index crediting, the S&P 500 annual point-to-point cap is currently 6.50%, with a 1.00% guaranteed minimum. The S&P 500 Dynamic Intraday TCA Index offers an 8.00% annual cap. The Barclays Global Quality Index and the TCA strategies guarantee their cap and participation rate for the full 10-year surrender period, which is an unusually strong rate-lock feature — you know exactly what floor you are working with for the life of the contract. The performance-triggered option pays 5.30% if the S&P 500 finishes the year flat or positive, which functions as a soft floor on credited interest in modest-gain or sideways markets. The fixed account is currently at 5.00%.
Why the Secondary Feature Matters
The most meaningful secondary feature is the bail-out provision on the S&P 500 strategies. If the annual cap renews below the contractually defined Bailout Cap, you have a 30-day window to surrender the contract without surrender charges or MVA. This is a genuine protection against rate compression — if Guaranty Income Life's crediting terms deteriorate significantly over the 10-year period, you are not locked in indefinitely. That provision is more valuable in longer-duration products like this one, because the risk of cap-rate erosion compounds over time. Buyers should ask for the specific Bailout Cap level before purchasing, since the brochure defines the mechanism without disclosing the exact threshold.
Liquidity and Surrender Schedule
This is a 10-year commitment. Free withdrawals of 10% of initial premium are available in year one, and 10% of the prior anniversary accumulation value in years two and beyond. That means the free amount adjusts upward as the contract grows, which is a buyer-friendly feature. A Market Value Adjustment (MVA) applies to amounts above the free withdrawal that are taken during the surrender charge period — the MVA can increase or decrease the net surrender value depending on how interest rates have moved since issue.
Required minimum distributions are available without surrender charges or MVA even if they exceed the free withdrawal amount, which makes this contract IRA-compatible without forcing a tax-adverse tradeoff. GLBR withdrawals, if you elect the income rider, are also not subject to surrender charges or MVA. After the fifth contract year, the full surrender value will never be less than the initial premium reduced by prior withdrawals — a return-of-premium guarantee that provides a meaningful floor for buyers who stay at least five years.
Nursing home confinement and terminal illness waivers remove surrender charges and MVA, though premium bonus recapture may still apply depending on the vesting year. That distinction matters — a buyer who qualifies for the waiver in year two keeps the full account value but may forfeit unvested bonus dollars.
Fees and Tradeoffs
The base contract has no explicit annual fee. The main structural cost is the premium bonus itself: by design, the caps and participation rates on the bonus version are lower than on the non-bonus WealthChoice 10-Year. The exact differential is not disclosed in available brochure materials — ask your agent for a side-by-side comparison. Over a 10-year period, even a 0.50% annual cap differential compounds meaningfully, and in strong index years the bonus version will underperform the standard version net of the initial credit.
The optional Guaranteed Living Benefit Rider (GLBR) carries a 0.95% annual fee based on account value, and it cannot be combined with the premium bonus. If you want the income rider, you effectively choose the standard WealthChoice 10-Year, not this product. The GLBR is an optional choice — this product functions as a standalone accumulation annuity without it, and given the bonus/rider exclusivity, most buyers purchasing this specific variant are doing so for the bonus rather than the income rider.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Indexed Annuity |
| Surrender Period | 10 years |
| Issue Ages | 0-80 |
| Minimum Premium | $20,000 |
| Indices | S&P 500, S&P 500 Dynamic Intraday TCA Index, Barclays Global Quality Index, Horizon Ascend 5% Index |
| Crediting Methods | Annual Point-to-Point with Cap, Annual Point-to-Point with Participation Rate, Monthly Point-to-Point with Cap, Performance Triggered, Fixed Account |
| Free Withdrawal | 10% of initial premium in year 1; 10% of prior anniversary accumulation value in years 2+ |
| MGSV | 87.5% of premiums accumulated at the Standard Nonforfeiture Law rate (1-3%), reduced by withdrawals |
| Death Benefit | Greater of Accumulation Value or Cash Value (Minimum Guaranteed Surrender Value); if beneficiary elects period certain payout of 5 years or longer, death benefit is multiplied by 110% prior to determining periodic payment; spouse may assume ownership if sole primary beneficiary |
| Income Rider | Optional |
| Income Rider Fee | 0.95% of account value annually |
| Premium Bonus | 10% |
| Availability | Not approved in AK, HI, ME, NY. California has reduced surrender charge schedule: 8.65, 7.90, 6.85, 5.75, 4.70, 3.60, 2.50, 1.35, 0.25, 0%. |
Carrier snapshot
Legal Entity: Guaranty Income Life Insurance Company
Parent: Kuvare US Holdings, Inc.
A.M. Best Rating: A-
Final take
WealthChoice Bonus 10-Year is a reasonable accumulation FIA for a buyer who wants to start the contract at 110% of their initial premium and is comfortable accepting modestly lower annual crediting terms in exchange for that upfront credit. The 10-year commitment is long, and the vesting schedule means the bonus is not truly yours until year six — so this is not a product to buy unless you have genuine long-term retirement dollars. The bail-out provision and RMD accommodation are meaningful structural protections.
Where this product falls short of a higher rating is the cap compression: the bonus version trades away annual upside potential that compounds over 10 years, and in favorable market conditions the no-bonus sibling is likely to produce better outcomes net of the initial credit. The mutual exclusivity between the premium bonus and the income rider also limits the product's versatility. For buyers who understand and accept the bonus tradeoff and do not need the income rider, this is a solid but not exceptional option.