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
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 8 | 5.15% | 2.39% | 5.15% |
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.
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.
- A.M. Best A-
