GBU’s New Fixed Index Annuity
GBU’s new Fixed Index Annuity will offer upside-earning potential with downside protection.
GBU’s new Fixed Index Annuity (FIA) products are set to launch in February and will allow our members yet another way to safely grow funds for their retirement. These new annuities have many of the same features and benefits you are familiar with in our traditional annuities. The big difference between our current annuities and these new versions is how interest is credited to your account. The FIA allows you the potential to earn interest on your account based on the performance of a specific index or set of indices and the Participation (Par) Rate that you choose. GBU has partnered with Barclays to offer three index options for this product with strong and steady performance to help optimize growth.
FIA Product Features
- Available as Future Flex FIA (flexible premium) and Asset Guard FIA (single premium).
- Choice of asset allocation to a combination of Barclays Agility Shield Index, Barclays Fortune 500 12% Index, Barclays US Tech 12% Index and a fixed rate account with annual or biennial crediting (choose up to seven allocation options).
- Enhanced Participation Rate Rider* (Booster Fee) available: increase your participation rate for a 1% or 3% fee.
Plus the product enhancing features found in all GBU annuities
- 10% liquidity available immediately, 20% liquidity available any contract year where no withdrawal was taken the prior contract year.
- Surrender charges apply for withdrawals over the free withdrawal amount.
- Living Benefits Riders*
- Tax-deferred growth
You can start an FIA annuity for as little as $25,000. To find out more, visit gbu.org/FIA or talk with your agent or a representative at the GBU Home Office.
*Riders are optional and may have additional fees associated with them.
Interest rates are determined by date of receipt of deposit. Rates are subject to change without notice. Benefits may be taxable. During the surrender charge period, withdrawals exceeding 10% will be subject to a surrender charge that may be higher than fees associated with other types of financial products and may reduce principal. GBU Life is the marketing name for GBU Financial Life (GBU), Pittsburgh, PA. GBU and its agents do not provide tax, legal or investment advice. Please consult with a legal or tax professional prior to the purchase of any contract. Annuities are not short-term products and are issued by GBU. Withdrawals prior to 59½ may be subject to IRS penalties, separate from the annuity’s schedule of surrender charges. The maximum issue age is 95. The free look period is 10 days or 30 days for replacements unless noted herein. Withdrawals for amounts over those allowed during the guaranteed period are subject to surrender charges defined in the contract. The payout amount you will receive is based on your individual circumstances, the options you select at the time of application and your initial premium payment. Products and features
may not be available in all states.
This is a summary of the contract provisions. Please refer to the contract for details of surrender charge schedule, benefits and exclusions. NOT A DEPOSIT OF A BANK AND MAY LOSE VALUE—NOT BANK GUARANTEED. Contract Form Numbers: ICC23_FPDA_IA_CON_(01-23), FPDA_IA_CON_FL_(07-23), FPDA_IA_CON_(07-23), FPDA_IA_CON_(07-23)ND, ICC23_SPDA_IA_CON_(01-23), SPDA_IA_CON_FL_(07-23), SPDA_IA_CON_(07-23), SPDA_IA_CON_(07-23)ND.
Neither Barclays Bank PLC (‘BB PLC’) nor any of its affiliates (collectively ‘Barclays’) is the issuer of any annuity products referenced herein (‘Annuities’) and Barclays has no responsibilities, obligations or duties to policyholders in Annuities. The Barclays Fortune 500 12% Index, the Barclays US Tech Index and the Barclays Agility Shield Index (collectively, the ‘Indices’), together with any Barclays indices that are components of the Indices, are trademarks owned by Barclays or are licensed to use by Barclays and, together with any component indices and index data, are licensed for use by GBU Financial as the issuer or producer of Annuities (the ‘Issuer’).
Barclays’ only relationship with the Issuer in respect of the Indices is the licensing of the Indices, which are administered, compiled and published by BB PLC in its role as the index sponsor (the ‘Index Sponsor’) without regard to the Issuer or the Annuities or policyholders in the Annuities. Additionally, the Issuer may for itself execute transaction(s) with Barclays in or relating to the Indices in connection with Annuities. Policyholders acquire Annuities from the Issuer and policyholders neither acquire any interest in the Indices nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in Annuities. The Annuities are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the Annuities or use of the Indices or any data included therein. Barclays shall not be liable in any way to the Issuer, policyholders or to other third parties in respect of the use or accuracy of the Indices or any data included therein.
