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Traditional Fixed Annuity Details

Product Name

FlexPlus 10

Annuity Type

Traditional Fixed Annuity

Issuing Insurance Company and Ratings

B++
(5th of 15 ratings)
Not Rated
Not Rated
Not Rated
Not Ranked

Product Information

The FlexPlus 10 is a deferred traditional fixed annuity issued by Guaranty Income Life Insurance Company.

The current first year yield is 3.40% and the 10 year term current annual yield is 3.40%, including bonuses if applicable (see Rate Details below). This assumes that the current base interest rate remains unchanged up to the first penalty free full withdrawal window, which is not guaranteed. The FlexPlus 10 has a full penalty free withdrawal window after 10 years.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

Guaranty Income Life Insurance Company is rated “B++” by A.M. Best, was founded in 1926, and has over $902 million in total assets.

Rate Details

Jun 1st, 2019
Not Scheduled

Premium Amount: $2,000 - $1,000,000

Current
First Year Yield: 3.40%
10 Year Term Current Annual Yield: 3.40%
10 Year Term Guaranteed Annual Yield: 1.46%
Interest rate start of year 1 through end of year 1: 3.40%
Current Base Interest Rate: 3.40%
Guaranteed Minimum Interest Rate: 1.25%

Initial Surrender Charge and MVA Periods

10 years

N/A

10 years

State variations may exist, refer to product disclosure for details.

Policy Details

$5,000
$2,000
$1,000,000
$1,000,000
79
79
45 days
No
Accumulation Value
No

Penalty Free Withdrawal Provisions

Interest Only
See Notes
Yes
Yes
Annuitization, Death, Long Term Care, Nursing Home and Terminal Illness

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  AK, CT, DE, DC, HI, ID, ME, MD, MA, MN, NH, NJ, NY, PA, RI, SD, VT, VA, WV and WI (as of 06/01/2019)

For CA and TN: No Nursing Home Wavier and No Bonus Care 10 Rider (see Notes below).

For IA: Early Surrender Charges are reduced to 9 years.

Notes

Years 2+ Withdrawals: 100% of accumulated interest or 10% of year end accumulation value after first contract year.

Annuitization: Withdrawal charges are waived if you elect a lifetime income option after the fifth contract year.

Bonus Care 10 Rider: Enhanced benefits to help pay for LTC expenses – included by default per product design.