Company Information
Company Name
GCU Life
Product Name
GCU Life Triple Advantage Plus Annuity
Description
This is a short, three-year guaranteed annuity. The rate is locked for all three years and is not subject to change. In years 2 and 3, owners can withdraw up to 10% of that year’s beginning balance. After three years, owners can withdraw, transfer, or reinvest their entire account balance.
Qualified and non-qualified deposits are accepted. Additional deposits are accepted. There are no surrender penalties at death.
AM Best Rating
A- Excellent (4th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
5.00%
Term
3 Years
Minimum Investment
$50,000
Maximum Investment
$500,000 without prior approval
Maximum Age
95
Surrender Schedule
5%, 3%, 1%
What We Like About This Annuity
Short 3-year annuity with a competitive rate. Low minimums to start. No surrender penalties at death and 10% free liquidity in years two and three.
Notable Features
Lower rates available for balances under $50,000. Account accepts qualified (pre-tax) deposits
Other Popular Products
GCU also offers a popular one year annuity for short-term 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.