Annuities for Income
GCU offers two different types of Annuities for Income. Option A is a liquid account that pays you only the interest you earn and keeps your principal intact. Option B delivers regular, set payouts that may include interest and some of the principal for a pre-specified period of time or for as long as you live. The choice is up to you.
This is a completely liquid contract that regularly pays you the interest it earns. Your principal remains in the account and will never diminish. A single minimum deposit of $5,000 will open this account and it does not have a maturity date. Credited interest must be disbursed via direct deposit and can be done monthly, quarterly, semi-annually or annually.
The crediting rate may change on a month-to-month basis, but will never drop below the contract minimum. Partial withdrawals may be made at any time as long as the balance is a minimum of $5,000. This option is only available for non-qualified funds.
This contract is often known as a Single Premium Immediate Annuity (SPIA) and is available in two forms:
Fixed Period Certain Income
This option is for individuals only, who are looking for income to bridge a set period of time. You can choose a fixed period, which is usually between 5-&-20 years, and contingent upon age. Monthly payments are then made via direct deposit. Both qualified and non-qualified funds may be used. Joint annuitants are not permitted, however, a beneficiary is designated to receive any unpaid payments.
This option is for individual or joint annuitants. In exchange for the deposit amount, GCU guarantees an income for the life of one or both annuitants, insuring that your funds never run out. The amount of direct deposited income will vary based on the number of annuitants, gender, age, and the type of settlement selected.
Find an Agent
Discover how GCU Annuities for Income can bring not only income, but precious peace of mind. Find an agent near you or call 1-855-306-0607.