LIFE INSURANCE ANNUITIES FRATERNAL BENEFITS

 

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. CLICK HERE to view GBU's Current 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early withdrawal restriction structure on amounts over the allowable principal withdrawals: Interest earned may be withdrawn at any time with no GBU penalty; After the first contract year, up to 10% of the principal amount may be withdrawn annually without being subject to GBU's penalty schedule. CLICK HERE to view GBU's Preferred 8 Annuity 5-Year Interest Rate History.

GBU’s 8-year early withdrawal penalty schedule for amounts over the 10% allowable withdrawals is as follows...

Year 1 – 7%    Year 2 – 7%    Year 3 – 6%    Year 4 – 6%
Year 5 – 5%    Year 6 – 4%    Year 7 – 3%    Year 8 – 2%

Withdrawals prior to age 59½ may be subject to
IRS early withdrawal penalties.*

 

Preferred 5 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 an 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early withdrawal restriction structure on amounts over the allowable principal withdrawals: Interest earned may be withdrawn at any time with no GBU penalty; After the first contract year, up to 10% of the principal amount may be withdrawn annually without being subject to GBU's penalty schedule; CLICK HERE to view GBU's Preferred Annuity 5-Year Interest Rate History.

GBU’s 5-year early withdrawal penalty schedule for amounts over the 10% allowable withdrawals is as follows...

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

Withdrawals prior to age 59½ may be subject to
IRS early withdrawal penalties.*

 

Immediate Annuity - GBU's Immediate Annuity is a single premium annuity contract that pays a guaranteed periodic distribution for a specified period or for the annuitant's lifetime. A minimum initial deposit amount of $25,000 is required to open a GBU Immediate Annuity. Various settlement options are available including: Period Certain, Period Certain & Life, Joint & Survivor; Lifetime - No Refund; Lifetime - With Refund.  GBU's current "locked-in" annuitization rate is 3.50%.

*For specific tax advice consult your tax advisor.


GBU IRA'S

GBU's IRA accounts do not have sales or administrative fees; 100% of your payments earn interest from the day they are received. Personal financial goals can be successfully achieved by combining IRA tax advantages with GBU’s competitive, daily-compounded interest rates.

 

Traditional IRA - GBU's Traditional IRA is a tax-deductible retirement account. Contributions and earnings are tax-deferred until withdrawn.

Roth IRA - GBU's Roth IRA gives the annuitant the ability to invest after-tax dollars today, while letting the investment grow tax-deferred. Qualified withdrawals are tax free.

Coverdell IRA - GBU's Coverdell IRA is a tax-deferred account that allows tax-free withdrawals for education expenses. Parents, grandparents, relatives, etc. may contribute to this account.

Simplified Employee Pension (SEP) - GBU's SEP IRA is a tax-deferred retirement account which allows an employer to make deductible contributions towards a participating employees’ retirement. This account is also available to self-employed individuals.

 


 
GBU Financial Life

4254 Clairton Boulevard
Pittsburgh, PA 15227-3394
1.800.765.4428  or  412.884.5100

Fax:  
412.884.9815
E-mail:
info@gbu.org


 GBU Financial Life is a Fraternal Benefit Society domiciled in the state of Pennsylvania.
GBU Financial Life is accepting new business in the following states ...

FL, IL, IN, MI, MN, MO, NJ, OH, PA, & WI
Not all products are available in all states.


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This site was last updated on  Wednesday, May 1, 2013