1 + 4 Choice
Status:
Active
Group:
GCU
Company:
GCU
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
January 01, 2009
Closed Date:
Last Modified:
November 05, 2024 00:00
Description:
1 + 4 Choice is a flexible premium deferred annuity. The initial minimum contribution is $300 for both qualified and non-qualified money. 10% of the premium may withdrawn beginning in contract year two without incurring withdrawal charges. Surrender charges are five years in duration and are waived in the event of death. Upon the first contract anniversary, and for 30 days thereafter, participant have the option of Continuing the contract for the remaining four years. The rate for each subsequent year will be based on the 1 + 4 Choice New Issue Crediting Rate. During the 30-day window, withdrawal may be done without a surrender charge. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Fee Based:
No
Free Look:
No
Plan Types:
IRA, SEP IRA, Others
Premium Types:
Flexible
States Available:
AZ, CA, CO, CT, DC, FL, GA, IA, ID, IL, KS, KY, IN, MD, MI, MN, MO, MS, NC, NJ, NV, OH, PA, SC, TN, TX, UT, VA, WI, WV
States Exception:
AK, AL, AR, BERMUDA, DE, GU, HI, LA, MA, ME, MT, ND, NE, NH, NM, NY, OK, OR, PR, RI, SD, VI, VT, WA, WY
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 30 Jul 2024 |