A Five Year "Window" Annuity, that gives you the option of surrendering the contract at the end of the first year, converting it to a new One Plus Four, or continuing in the same contract for the remaining four years.
|Issue Ages:||No age restrictions!||Minimum Guaranteed Rate:||1.0%|
|Minimum Initial Deposit:||$300||Maximum Initial Deposit:||*2|
|Initial Rate Guarantee Period||One Year||Additional Deposits are permitted.3|
|Eligible for Qualified Plans:||Yes|
Withdrawal provisions: This contract does not allow for any surrender charge free withdrawals during the first year. Surrender charges in the first year are 9%, and are reduced by 2% in each subsequent year of the five year contract (9% - 7% - 5% - 3% - 1%). Should you continue into the remaining 4 years of the contract, surrender charge free withdrawals of 10% are permitted in each remaining year based on the contract’s value at the preceding anniversary date.
Please note: Any interest or gain in the withdrawal will be subject to taxes and, if withdrawn prior to age 59½, may also be subject to a 10% early distribution penalty imposed by the IRS. By IRS mandate, interest is always distributed first.
Additional Deposits: Currently, the maximum dollar amount of deposits into a new One Plus Four contract is $100,000 per annuitant, per calendar year. This maximum applies per annuitant regardless of the number of contracts in force. Maximums may also depend on other GCU contracts in force. Please see your agent or contact the GCU Home Office for further details.
Death Benefit Waiver: No surrender charges will be imposed on the death benefits paid under this annuity contract.
Maturity Date: Upon the maturity date of the contract, you may:
1 Rate effective .
2 Please contact your agent or contact the GCU Home Office.
3 Subject to annual maximums Maximums are subject to change.