GBU Financial Life Annuity Products

GBU’s annuity products are personal retirement vehicles designed to help reach long-term financial goals through the use of tax-deductible, tax-exempt and tax-deferred accounts. In addition, GBU annuities can also be used to accumulate funds for first-time home buyers and higher education expenses. Personal financial goals can be successfully achieved by combining annuity tax advantages with GBU’s competitive, daily-compounded interest rates.

Preferred 8 Annuity

GBU’s Preferred 8 Annuity is a tax-deferred retirement account that provides the highest GBU interest rate available. This account offers a one-year guaranteed rate in addition to a guaranteed minimum interest rate. A minimum initial deposit amount of $10,000 is required to open a GBU Preferred 8 Annuity. This account incorporates an 8-year early withdrawal restriction structure on amounts over the allowable principal withdrawals. Interest earned may be withdrawn at any time with no GBU penalty and up to 10% of the principal amount may be withdrawn annually without being subject to GBU’s penalty schedule.

GBU’s 8-year early withdrawal penalty schedule:

Year 1 – 7%    Year 2 – 7%    Year 3 – 6%    Year 4 – 6%

Year 5 – 5%    Year 6 – 4%    Year 7 – 3%    Year 8 – 2%

Preferred Annuity

GBU’s Preferred Annuity is a tax-deferred retirement account that pays a competitive rate of interest in addition to offering a one-year guaranteed rate and a minimum interest rate guarantee. A minimum initial deposit amount of $500 is required to open a GBU Preferred Annuity. This account incorporates a 5-year early withdrawal restriction structure on amounts over the allowable principal withdrawals. Interest earned may be withdrawn at any time with no GBU penalty and after the first contract year, up to 10% of the principal amount may be withdrawn annually without being subject to GBU’s penalty schedule.

GBU’s 5-year early withdrawal penalty schedule:

Year 1 – 6%     Year 2 – 5%    Year 3 – 4%    Year 4 – 3%    Year 5 – 2%

Preferred Interest Only Contract (IOC)

GBU’s Preferred IOC offers an alternative to traditional bank savings vehicles while paying a competitive rate of interest and offering a one-year guaranteed rate and minimum interest rate guarantee. A minimum initial deposit amount of $1,500 is required to open a GBU Interest Only Contract. This account incorporates a 5-year early withdrawal restriction structure on amounts over the allowable principal withdrawals: Interest earned must be withdrawn at least annually. After the first contract year up to 10% of the principal amount may be withdrawn annually without being subject to GBU’s penalty schedule.

GBU’s 5-year early withdrawal penalty schedule:

Year 1 – 6%     Year 2 – 5%    Year 3 – 4%    Year 4 – 3%    Year 5 – 2%