Company Information
Company Name
GCU Life
Product Name
GCU Life Triple Advantage Plus Annuity
Description
The Triple Advantage Plus Annuity is a short, guaranteed annuity with a three-year rate lock. After three years, owners can withdraw, transfer, or reinvest their entire account balance. If no action is taken, the account does not automatically renew. Owners can continue their contract indefinelty (with no surrender charges) at a new declared rate that can change monthly.
Free 10% withdrawals are available in years 2 and 3 and are calculated based on the contract’s value on the last day of the previous contract year. Three rate bands are available. The highest rate is for deposits of $50K or more while lower rates are available for the amounts listed below.
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
4.90%
| 4.90% | $50,000 | — | $200,000 |
| 4.50% | $5,000 | — | $49,999 |
| 4.00% | $300 | — | $5,000 |
Term
3 Years
Minimum Investment
$50,000
Maximum Investment
$200,000 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. Additional deposits are allowed.
Notable Features
Lower rates available for deposits as small as $300. Contract does not automatically renew and can be held (surrender-free) for an indefinite period of time.
Other Popular Products
GCU also offers a popular and unique for one year fixed annuity called the One Plus Four Annuity short-term investors. They also offer whole and term life insurance for individual and family protection.
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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.