A 60 month Annuity with excellent liquidity features from day one!
|Issue Ages:||0 - 88||Minimum Guaranteed Rate:||2%|
|Minimum Initial Deposit:||$300||Maximum Initial Deposit:||2|
|Initial Rate Guarantee Period||Two Years||Additional Deposits are permitted.2|
|Eligible for Qualified Plans:||Yes|
Withdrawal provisions: GCU Currently allows for surrender charge free withdrawals in EACH contract year! Year One = 10% of the initial deposit; Years Two thru Five = 20% in each year based on the account value at the end of the previous contract year.3 Withdrawals exceeding the permitted amounts will be subject to a surrender charge. 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%).
Please note: Any interest or gain in the withdrawal will be subject to taxes and, if withdrawn prior to age 59½, may also be subject to a 10% early distribution penalty imposed by the IRS.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 distributed first.
Long Term Care Waiver: No surrender charges will be imposed on withdrawals or surrender of this contract upon receipt of acceptable proof that the annuitant has become confined to a Long Term Care Facility.4
Terminal Illness Waiver: No surrender charges will be imposed on withdrawals or surrender of this contract should the annuitant become terminally ill as certified by an attending physician.4
Death Benefit Waiver: As with all GCU Deferred Annuity Contracts, no surrender charges will be imposed on the death benefits paid under this contract.
Maturity Date: Upon the maturity date of the contract, you may:
Please note regarding benefits issued by Board Decree: While a specific benefit may be discontinued in the future, once it is on a contract, it may not be removed. Only new contracts issued after the change of the decree would be affected.