The Annuitization Waiver is available on the following GCU Annuities:
• One Plus Four
• Triple Advantage
• Five Year Advantage
• Flex 8
This waiver provides for a complete dismissal of any surrender charges upon the death of the annuitant. The beneficiary or beneficiaries of the contract will not have to wait until the end of the contract term or accept a reduced settlement.
All GCU Annuities are ANNUITANT DRIVEN contracts, and not owner driven. Upon the death of the annuitant, the primary beneficiary(ies) become the de facto owners of the contract’s values.
This is a contractual benefit, which states that “The death benefit will be the cash value of this contract on the date of the annuitant’s death.”
(Terms of Service and sale are subject to change)