GCU - One of the Great Fraternal Insurance Companies

Started in 1892 by a couple miners in the Pittsburgh, PA area, which decided to pool together their money in order to protect their widows and orphans, GCU has grown to over 50,000 members and manages several billion dollars of assets.

A fraternal insurance company is a 501c8 not for profit organization according to the Internal Revenue Service. In effect, they can't keep their profits but in return they don't have to pay most or all taxes that a regular business would typically have to pay.

This allows a fraternal insurance company to offer products and services that other insurance companies may not offer, since the profit margins may be lower.

I truly believe that the not-for-profit fraternal insurance company model is the superior model. I have worked with fraternal insurance companies, since 2018 and I can tell you that the people that run these companies actually have souls!

Product Line Up Review - Life Insurance and Annuities

Life Insurance

GCU has one of the lowest cost Whole Life insurance products on the market and it also builds decent cash value.

You can purchase their Whole Life in 3 different forms.

1. Whole Life payable to age 100.

2. Whole Life payable for 20 years (20 Pay)

3. Single Premium Whole Life (Lump Sum payment)

   
   

   They also offer a very unique Burial Insurance Trust program that can protect the cash value of life insurance from a possible Medicaid spend down issue. Please contact Nelson Insurance Advisors with any questions.

Term Life Insurance

1. 10 Year Term

2. 20 Year Term

3. 30 Year Term

Annuities

Here is where GCU truly shines. They are the finest annuity company in the country in my opinion.

They offer both fixed annuities and fixed indexed annuities.

Fixed Annuities

1. Flex 8 - A flexible premium fixed annuity with a 8-year surrender charge. Highly competitive fixed rate that does adjust after the first year based off of interest rates.

2. Flex 5 - A flexible premium fixed annuity with a 5-year surrender charge.

3. Triple Advantage Plus - 3 Year Multi Year Guaranteed Annuity "MYGA"

4. 1 + 4 - "Window Annuity" where the annuitant can move the money within a "window" near the first anniversary or if they don't it is effectively a Flex 5.

   
   

   Only $300 one time in order to open up a GCU fixed annuity.

Fixed Indexed Annuities

This is GCU's bread and butter with the Aquila X Fixed Indexed Annuity. I truly believe that it is the finest fixed indexed annuity in the US.

No caps, only par rates for the indexes and a highly competitive fixed interest rate. Free withdrawals after year 1 and there is a cumulative free withdrawal provision (up to 30%).

There is also an optional Premium Bonus (up to 10%).

There is also the Aquila V, which only comes with a 5 year surrender charge versus 10 for the Aquila X. I prefer the Aquila X but it has a place.

$10,000 minimum premium in order to purchase either an Aquila X or V.

I hope you enjoyed this brief overview of GCU!