Guaranty Growth Builder 7 with Enhanced Access
The Guaranty Growth Builder 7 with Enhanced Access is a game-changer for a relaxed retirement. Its numerous benefits: superb income growth, reliable asset protection and flexibility; make your golden years effortless.
The Enhanced Access feature ensures readily available funds. It truly embodies peace of mind, making your retirement not just secure, but enjoyable.
Guaranty Growth Builder 7 with Enhanced Access
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
|
115%
Participation
|
| 1-Year Citi Risk Balanced 5% Net PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
150%
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
|
6.5%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Enhanced Access Rider | Yes | 0.90% annually |
| Enhanced Access ADL Rider | No | 0.90% annually |
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.
ADL
Additional benefits if two of six ADLs cannot be performed, whether care is received in a facility or at home. 100% of surrender charges are waived. The six Activities of Daily Living (ADLs) include: 1. Bathing - Washing oneself by sponge bath in a tu bor shower, including getting in or out. 2. Continence - Bowel and bladder control or, when unable to maintain control, the ability to perform associated personal hygiene. 3. Dressing - Includes putting on and taking off clothing and any necessary braces, fasteners or artificial limbs. 4. Eating - Being able to feed oneself or manage a feeding tube or intravenous feeding. 5. Toileting - Getting to and from the toilet, getting on and off it and performing associated personal hygiene. 6. Transferring - Moving into or out of a bed, chair or wheelchair.
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.
Withdrawal Provisions
RMD Provision 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 10% of the prior anniversary Accumulation Value is available free of Surrender Charge and MVA and bonus recapture, starting in year two for: Required Minimum Distribution (RMD) based on contract value. Systematic Withdrawals: free partial, RMD or dollar amount available in monthly, quarterly, semi-annual or annual payments. Terminal Illness or Hospital or LTC Facility Confinement if qualifications are met. Ability to carry forward unused free partial withdrawal, not to exceed 30%.Market Value Adjustment (MVA)Applies to all contracts. The MVA is limited to 100% of the surrender charge. An MVA is an adjustment based on the Constant Maturity Treasury (CMT) that matches the surrender charge duration (20 Year CMT is used for 14 Year surrender), which either increases or decreases the cash surrender value during the Surrender Charge Period. If the CMT increases, the surrender charge will increase. If the CMT decreases, the surrender charge will decrease.
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