GBU Financial Life
4.7
based on complex data
Annuity Educator Rating
Annuity review

Future Flex Preferred 8

The Future Flex Preferred 8 is a fixed annuity product from GBU Life that provides a safety net for your retirement plans. Not only does it promise predictable growth via competitive interest rates, but it also allows you to convert your savings into a consistent income - kind of like a paycheck you can never outlive! The fact that your funds grow tax-deferred until you're ready to withdraw them adds a sweet cherry to the top of an already attractive deal.

One of this product's standout features is its flexibility - you can tailor it to meet your long-term financial goals, whether it's buying a new house or funding your child's education. Additionally, it comes with the assurance of no upfront or annual sales fees plus a choice of five or eight-year periods. But, the silver lining is it guarantees that your contributions will start earning interest from day one. With GBU's excellent A- rating by AM Best and positive customer reviews, the Future Flex Preferred 8 is definitely an excellent option for securing your financial future.

Future Flex Preferred 8-brochure Future Flex Preferred 8-brochure

Future Flex Preferred 8

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About Product

Premium Type
Flexible Premium
Fee withdrawal:
10%
Market Value Adjustment
No
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$3,000,000
Max Age Qualified
95
Types Of Funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, KEOGH, IRA-Roth, SIMPLE IRA, 1035 Exchange, and Inherited IRA
Launch Date
09/19/2022

Traditional Fixed Annuity Interest Rates

Surrender Years First Year Yield Term Guaranteed Yield Term Current Yield
8 5.15% 2.39% 5.15%
The Future Flex Preferred Annuity 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 Under current tax law: (a) the principal and earnings are not subject to income taxes until funds are withdrawn or distributed; and (b) a 10% IRS early-withdrawal penalty may apply to withdrawals or distributions prior to age 59½.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 Preferred will be issued to Owners age 18-95 and Annuitants age 0-95.

Premium
An annuity may be established with an initial premium of $10,000. Additional premium payments must be at least $1,000.
Maximum first-year deposits: $3,000,000 (without pre-approval).
Future deposits accepted up to $1,000,000 per contract year without starting a new surrender period

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.

Free WIthdrawals
10% penalty-free annual withdrawals of the account value each Contract Year. During any Contract Year in which this waiver is not used for the preceding year, 20% of the account is available without incurring a surrender charge. 

Year by Year Account Balance

Understand how your money will increase when invested in Future Flex Preferred 8.
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Riders

No Riders for Future Flex Preferred 8 annuity.

Waivers

Nursing Home

There are no surrender charges associated with the Nursing Home Confinement or Home Health Care. Your: (a) continuous confinement in a Nursing Home for at least 30 consecutive days which began after the Contract Effective Date; or (b) undergoing Home Health Care for at least 30 consecutive days which began after the Contract Effective Date.

Terminal Illness

There are no surrender charges associated with the Terminal Condition. An illness or physical condition: (a) that is reasonably expected to result in your death within 12 months; and (b) of which the initial diagnosis occurs after the Contract Effective Date. There are no surrender charges associated with the Critical Illness. Your Cancer, End-Stage Renal Failure, Heart Attack or Stroke of which the initial diagnosis occurs after the Contract Effective Date.

ADL

There are no surrender charges associated with the Inability to perform two or more Activities of Daily Living or Severe Cognitive Impairment. Your: (a) inability to perform two or more Activities of Daily Living without Substantial Assistance of which the initial diagnosis of such inability occurs after the Contract Effective Date; or (b) Severe Cognitive Impairment that requires Substantial Supervision of which the initial diagnosis occurs after the Contract Effective Date.

Company Founded: 1892
Excellent Rated Company
GBU Financial Life
Company Ratings
4.5
  • A.M. Best A-
Assets: $4,426,033,902
Pennsylvania

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