Guaranty Growth Builder 14
The Guaranty Income Life Insurance Company, often abbreviated to GILICO and founded in 1926, has been creating best-in-class wealth solutions that generate income and financial well-being for almost a century. A subsidiary of Kuvare US Holdings, a multi-billion dollar enterprise backed by investors, GILICO is known for its variety of annuities for sale, be it fixed, fixed-indexed, or variable annuities. The company also allows clients to further customize their purchases, offering riders like long-term care protection. This is proof of its vision to offer customer-focused solutions and reflected by a positive industry standing.
Guaranty Growth Builder 14
Ratings:
- A.M. Best A-
- Comdex 59
About Product
Buy-Up Option - Account Fee
With each indexed interest crediting strategy, you can choose an increased participation or cap rate to further enhance your potential interest returns. The buy-up option is available at an annual cost of 1.50% of Accumulated Value which is divided by 12 and deducted monthly.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year Citi Risk Balanced 5% Net PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year Citi Risk Balanced 5% Net PTP Participation Rate |
Point to Point
Annual
|
200%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.25%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.25%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 14% | 14% | 12% | 12% | 10% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
No Riders for Guaranty Growth Builder 14 annuity.
Waivers
Terminal Illness
If a contract owner is diagnosed with a Terminal Illness or becomes Confined in a medical facility after their contract was issued, he/she may make a Full or Partial Surrender without incurring a Surrender Charge or Market Value Adjustment. While there is no waiting period to utilize this benefit after contract issue, the claim must be made within 180 days of the qualifying event. Terminal Illness: a health condition or injury experienced, which to a reasonable degree of medical certainty, confirmed by a Physician, will result in that person’s death within one year.
Confinement
If a contract owner is diagnosed with a Terminal Illness or becomes Confined in a medical facility after their contract was issued, he/she may make a Full or Partial Surrender without incurring a Surrender Charge or Market Value Adjustment. While there is no waiting period to utilize this benefit after contract issue, the claim must be made within 180 days of the qualifying event. Confinement: receiving continuous care for at least 30 days from a hospital or long-term care facility.
Premium Notes
0-78
Joint cases are based on the age of the younger spouse
Initial Premium Limits
$20,000 – $1,000,000
Contact Guaranty Income Life Insurance Company for exceptions
Note that GMCSV Interest may change on Jan 1 and July 1 for new issues.
Withdrawal Provisions
In all contract years, the RMD amount is free of surrender charges even if in excess of the free withdrawal amount. (If less, only the difference remaining is available for free withdrawal.)
Free Partial Withdrawals
Starting in year two, 10% of the prior anniversary contract value is available free of Surrender Charges, MVA and bonus recapture.
Other GILICO Products
You might also be interested in
