Flex 8
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The Flex 8 Deferred Annuity offers the highest current interest rate of any GCU Annuity. It is an eight-year investment product that does allow for limited surrender charge free withdrawals in each contract year. The Flex 8's interest rate is guaranteed for the first year and has the ability to respond to an increasing interest rate market in subsequent years. This product is available for ages 0-85 and may also be used for qualified (tax favored status) plans.
Premium Notes
Minimum Initial Deposit: $300
Maximum Initial Deposit: $1,000,000
Additional Deposits are permitted
Clients may elect to make systematic deposits into their annuity on a monthly, quarterly, semi-annual, or annual basis.
Your initial interest rate is guaranteed for the first contract year. For subsequent contract years, your interest rate, on a month to month basis, will be based on the New Issue Crediting Rate for the GCU Flex 8 contract, but is guaranteed to never be less than 1.75%. Therefore, this contract has the ability to respond, on a monthly basis, to an increasing interest rate environment, while consistently giving you the highest crediting rate on any GCU annuity contract.
Withdrawal provisions: The GCU allows for surrender charge free withdrawals in each contract year. Year One = 10% of the initial deposit. Years Two thru Eight = 10% in each year based on the account value at the end of the previous contract year. Withdrawals exceeding the permitted amounts will be subject to a surrender charge. Surrender charges in the first year are 9%, and are reduced by 1% in each subsequent year of the eight year contract. (9% - 8% - 7% - 6% - 5% - 4% - 3% - 2%).
Premium Notes
Minimum Initial Deposit: $300
Maximum Initial Deposit: $1,000,000
Additional Deposits are permitted
Clients may elect to make systematic deposits into their annuity on a monthly, quarterly, semi-annual, or annual basis.
Your initial interest rate is guaranteed for the first contract year. For subsequent contract years, your interest rate, on a month to month basis, will be based on the New Issue Crediting Rate for the GCU Flex 8 contract, but is guaranteed to never be less than 1.75%. Therefore, this contract has the ability to respond, on a monthly basis, to an increasing interest rate environment, while consistently giving you the highest crediting rate on any GCU annuity contract.
Withdrawal provisions: The GCU allows for surrender charge free withdrawals in each contract year. Year One = 10% of the initial deposit. Years Two thru Eight = 10% in each year based on the account value at the end of the previous contract year. Withdrawals exceeding the permitted amounts will be subject to a surrender charge. Surrender charges in the first year are 9%, and are reduced by 1% in each subsequent year of the eight year contract. (9% - 8% - 7% - 6% - 5% - 4% - 3% - 2%).
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 8 | 3.75% | 2% | 3.75% |