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fixed annuities

Traditional Fixed Annuity Details

FlexPlus 7

This annuity product has been withdrawn by the issuing insurance company and is no longer available for new purchases.

Product Name

FlexPlus 7

Annuity Type

Traditional Fixed Annuity

Issuing Insurance Company and Ratings

(4th of 15 ratings)
Not Rated
Not Rated
Not Rated
(percentile of rated companies)

Product Information

The FlexPlus 7 is a deferred traditional fixed annuity issued by Guaranty Income Life Insurance Company.

The current first year yield is 2.75% and the 7 year term current annual yield is 2.75%, 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 7 has a full penalty free withdrawal window after 7 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 “A-” by A.M. Best, was founded in 1926, and has over $4.5 billion in total assets.

Rate Details

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

First Year Yield: 2.75%
7 Year Term Current Annual Yield: 2.75%
7 Year Term Guaranteed Annual Yield: 1.25%
Interest rate start of year 1 through end of year 1: 2.75%
Current Base Interest Rate: 2.75%
Guaranteed Minimum Interest Rate: 1.00%
This annuity product has been withdrawn by the issuing insurance company and is no longer available for new purchases.

Initial Surrender Charge and MVA Periods

7 years


7 years

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

Policy Details

Penalty Free Withdrawal Provisions

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).


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.