Flex 5 Advantage
|Issue Ages:||0 – 88|
|Minimum Guaranteed Rate:||1.75%|
|Minimum Initial Deposit:||$300|
|Maximum Initial Deposit:||$500,000|
|Eligible for Qualified Plans:||Yes|
|Withdrawal provisions:||Year One = 10% of the initial deposit|
|Surrender Charges:||9% - 7% - 5% - 3% - 1%|
|Long Term Care Waiver:||Yes|
|Terminal Illness Waiver:||Yes|
Your initial interest rate is guaranteed for the first year of the contract.
Additional Deposits permitted. 2
Death Benefit Waiver: As with all GCU Deferred Annuity Contracts, no surrender charges will be imposed on the death benefits paid under this contract.
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.
1 Rate effective current month only
2 Please contact your agent or contact the GCU Home Office.
Please note: Any interest or gain in the withdrawal will be subject to taxes and, if withdrawn prior to age 59 ½, may also be subject to a 10% early distribution penalty imposed by the IRS. By IRS mandate, interest is always distributed first.