Option B

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.

Lifetime Income

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.