Future Flex Classic

The Future Flex Classic is an individual fixed flexible-premium deferred annuity. You purchase the annuity with one premium payment, but premiums are accepted thereafter, though not required. Interest is earned during the accumulation phase and annuity benefit payments are deferred until the Maturity Date or upon Annuitization. Under current tax law: (a) the principal and earnings are not subject to income taxes until funds are withdrawn or distributed; and (b) a 10% IRS early-withdrawal penalty may apply to withdrawals or distributions prior to age 59½. Tax law is subject to change. Please consult your financial or tax professional for any exceptions to the early-withdrawal penalty.
The main purposes of a deferred annuity are: (a) to save money for retirement; and (b) to receive retirement income for life. It is not meant for short-term financial goals.

Issue Age
The Future Flex Classic will be issued to Owners age 18-95 and Annuitants age 0-95.

Premium
An annuity may be established with an initial premium of $500,000. Additional premium payments must be at least $50,000. No more than a total of $10,000,000 of premium may be paid during the life of the Contract (without prior home office approval).

Safety and Guarantees
GBU guarantees that the Owner will never receive less than: (a) 87½% of the total premium payments, net of any withdrawals; accumulated at (b) an annual interest rate no less than 1.00%.

Surrender Benefits
You may take money out of your annuity any time before annuity benefit payments begin. You may take out all of your annuity’s Surrender Value (full surrender) or part of it (partial surrender). Withdrawals must be $500 or more. At least $2,000 must remain in the annuity for the Contract to remain in force. A 10% IRS penalty may apply to withdrawals made before you reach age 59½.

Withdrawal Penalty
If a withdrawal is made within the first two (2) years, only the minimum guaranteed rate of (.050) interest will be paid on the amount withdrawn from the date of inception to the date of the withdrawal. Withdrawals after the second policy anniversary are not subject to a withdrawal penalty

Death Benefit
The death benefit is paid to the Beneficiary if the Owner or the Annuitant dies before the Maturity Date, with a choice of payment options. The death benefit is equal to the Accumulation Value as of the date of death. Death benefits must begin within one year of the date of death and may not extend beyond the Beneficiary’s life expectancy. If the deceased Owner’s surviving Beneficiary is the deceased Owner’s spouse as recognized under federal law, that spouse does not need to have death benefits paid. Rather, that spouse may continue the Contract as though that spouse were the original owner.