Company Information
Company Name
GCU Life
Product Name
GCU Life Flex 8 Annuity
Description
This is a longer term eight-year guaranteed annuity. The rate is locked for all eight years and is not subject to change. Free withdrawals of 10% are available in all eight years. Also included at no additional charge are Long Term Care and Terminal Illness waivers.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
5.35%
Term
8 Years
Minimum Investment
$ 300
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%
What We Like About This Annuity
Offers a very competitive 8 year rate for long term investors, 10% free liquidity in all years, and ability to add additional funds.
Notable Features
This annuity includes a Long Term Care Waiver and a Terminal Illness Waiver at no charge. There are no surrender penalties at death either.
Other Popular Products
GCU also offers a popular one year annuity for short-term annuity investors.
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About GCU Life
GCU Life is a Fraternal Benefit Society founded in 1892. The company’s core goals are funding social activities, engaging in community involvement, and creating value-added opportunities for its members.
They are a not-for-profit life insurance company specializing in fixed and income annuities. They also offer both whole and term life insurance policies.