Annuities
Flex 8
5.35% $300+
APY| Issue Ages: | 0 – 85 |
| Minimum Guaranteed Rate: | 3.00% |
| Minimum Initial Deposit: | $300 |
| Maximum Initial Deposit: | $1,000,000 |
| Eligible for Qualified Plans: | Yes |
| Withdrawal Provisions: | Years 1-8 = 10% of that year's beginning balance |
| Surrender Charges: | 9% - 8% - 7% - 6% - 5% - 4% - 3% - 2% |
| Long Term Care Waiver:3 | Yes |
| Terminal Illness Waiver:3 | Yes |
Your initial interest rate is guaranteed for the first contract year.
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.
3 This benefit is currently provided by resolution of the GCU Board of Directors, is not contractual, and may be discontinued at any time.
Please note: Any interest or gain in the withdrawal will be subject to taxes and, if withdrawn prior to age 59 ½, may also be subject to a 10% early distribution penalty imposed by the IRS.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.