New Momentum QIO review

It depends on what you're comparing it to. If you want a principal-protected fixed annuity with competitive rates, no fees, and the flexibility of quarterly rate resets, this is a solid product from a high-quality carrier. If your goal is to lock in today's rate for a full multi-year guarantee period, a true MYGA — including other options under the New Momentum family's GRO tracks — may be a better fit. The QIO's strength is current rate competitiveness; its limitation is that future quarterly rates are not guaranteed.

The rational case for New Momentum QIO is straightforward: a buyer wants safe, tax-deferred growth with a fixed declared rate, doesn't want to pay rider fees, and prefers a quarterly rate-setting mechanism over a locked multi-year guarantee. The very low $2,000 minimum makes it accessible to a wider range of buyers than most annuities in this category. An A+ carrier backing it at no product cost is hard to argue with for someone who simply wants to park money safely and earn a competitive declared rate.

I think New Momentum QIO is best for someone in their late 50s to early 70s with a conservative risk tolerance who wants guaranteed accumulation inside a tax-deferred wrapper, doesn't need guaranteed lifetime income, and is comfortable with quarterly rate resets rather than a locked yield. It also works for buyers who might not qualify for products with higher minimums — the $2,000 floor is genuinely unusual in this space. It is less appropriate for someone who wants to lock in today's rates for the entire 7-year term, or someone who prioritizes access to funds above the 10% annual free amount during the surrender period.

This is a deferred fixed annuity — a contract where your premium grows at a declared interest rate inside a tax-deferred insurance wrapper. Unlike a CD, gains are not taxed each year; they compound until withdrawal. Unlike a MYGA, the interest rate here is not locked for the full surrender term — Integrity declares a new rate each quarter. The surrender charges and MVA exist because you've committed to a 7-year contract, and the carrier is pricing your money accordingly. At the end of year 7, the charges drop to zero and you can walk away, annuitize, or roll the balance.

The QIO — Quarterly Interest Option — credits interest at a rate Integrity declares at the start of each contract quarter. There is no index, no cap, no participation rate. The rate is fixed for each 90-day period, then reset. As of the most recent Wink data, the current QIO rate is 5.50% (annualized). That figure will change each quarter based on market conditions and Integrity's discretion. The contract guarantees a minimum rate of 1% for its lifetime in most states, so there is a floor — you will always earn something — but there is no guarantee the current rate persists beyond any given quarter.

This structure is different from a traditional MYGA, which locks your rate at contract issue for the full multi-year period. The New Momentum product family also offers GRO (Guaranteed Rate Options) tracks of 2, 3, 5, 6, 7, and 10 years that do lock the rate — those tracks carry a first-year rate enhancement of 0.75% not available on QIO. Buyers who specifically want today's declared rate to hold for 7 years should evaluate those GRO tracks instead.

The hardship waivers are more meaningful here than in many comparable products. Withdrawal charges are waived for nursing home or hospital confinement, long-term care confinement, terminal illness, and unemployment (state restrictions apply). Required minimum distributions are also withdrawal-charge-free, which matters for qualified money. These provisions don't change the product's accumulation mechanics, but they meaningfully reduce the risk that life events force you to pay surrender charges you didn't anticipate. Not all fixed annuities in this surrender band offer this breadth of waivers.

The 10% annual free withdrawal is available from contract issue — there's no first-year waiting period, which is a meaningful distinction. That means a buyer who needs a small withdrawal in year one won't face charges on up to 10% of account value.

Amounts above the free withdrawal amount are subject to the surrender charge schedule below, and an MVA — Market Value Adjustment — also applies to GRO-track withdrawals before the end of a guarantee period. For the QIO track specifically, there is no GRO guarantee period, so the MVA mechanism works differently than on the locked-rate tracks. What this means practically: your penalty exposure is the surrender charge schedule plus potential MVA. In a rising rate environment, an MVA can increase the effective cost of early withdrawal beyond the stated charge.

Seven years is a real commitment. The 8% first-year charge is at the high end for a fixed annuity in this category. Buyers should only place funds here that they're confident they won't need above the 10% annual free amount during the surrender period.

There are no annual product fees, no administration charges, and no M&E charges on New Momentum QIO. The cost of ownership is entirely the opportunity cost of the surrender schedule — if you need more than the free withdrawal amount, the charges and potential MVA are the price. There is no income rider to pay for, no premium bonus to recapture.

The structural tradeoff is rate certainty. A buyer locking into 7 years with a product that resets rates quarterly is making a different bet than a buyer in a true MYGA. If rates decline after you purchase, your credited rate declines too. That's the trade: you get the competitive current rate today, but you don't own that rate for the full commitment period.

Legal Entity: Integrity Life Insurance Company

Parent: Western & Southern Financial Group

A.M. Best Rating: A+

Integrity Life Insurance Company is part of Western & Southern Financial Group, a large regional insurer with a long history and strong balance sheet. The A+ A.M. Best rating places it in the top tier of carrier financial strength. For a fixed annuity where the carrier's promise to pay is the entire value proposition, that backing matters.