Company Information
Company Name
GBU Life
Product Name
GBU Life Asset Guard Select 3
Description
The Asset Guard Select 3 is a multi-year annuity with a three-year rate guarantee. After three years, owners have a 45-day window to withdraw, transfer, or renew their full account balance. If no action is taken, a new term begins with a new declared rate and surrender schedule.
The highest rates are offered on deposits of $100K or more while lower rates are available on deposits of $25K – $99.9K. Additional premiums can be added during the first 90 days of the contract. This policy accepts both qualified and non-qualified funds. There are no surrender penalties at death.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
4.95%
Term
3 Years
Minimum Investment
$ 100,000
Maximum Investment
$2,000,000 without prior approval
Maximum Age
95
Surrender Schedule
8%, 7%, 6%, 0%
What We Like About This Annuity
This shorter term policy offers great liquidity features. Owners can withdraw 10% in all years and up to 20% in one year if no withdrawals were taken in the previous year.
Notable Features
At no extra cost, surrender charges can be waived if the owner needs Home Healthcare, Nursing Home Care, or has a terminal illness. This applies to those needing help with the activities of daily living or diagnosed with a severe cognitive impairment.
Other Popular Products
GBU Life offers several popular annuities for growth, income, and tax-deferral. Indexed and fixed options are both available. They also specialize in term and whole life insurance policies for family and estate protection.
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About GBU Life
Located in Pittsburg, PA and member-owned, GBU Life is a fraternal benefit society with a strong AM Best rating. Their focus in on life and fixed annuity products.
Being member-owned allows for low operating costs and competitively priced products with higher rates of return. The company is active in its community through charitable giving, philanthropic projects, and college scholarships. Its mission is to strengthen and protect the financial well-being of not only its members but also the communities it supports.