FlexPlus Annuities are our Flexible Premium Deferred Annuity plans.

They are an attractive alternative to CDs and other taxable vehicles. Each plan is designed for those seeking guaranteed tax-deferred growth with a choice of monthly income options on the annuity payout.

FlexPlus Advantages

Rider benefits included – No cost to policyowner:

  • Terminal Illness Benefit
  • Nursing Facility Benefit
  • Enhanced Bonus Care 10 Benefit

Tax-deferred – Your annuity grows much faster than alternative vehicles because you can do the following:

  • Earn interest on your principal
  • Earn interest on your interest
  • Earn interest on money you normally pay in taxes
  • Never pay tax on interest until you take it out
  • Decide on the best time to withdraw your money

Result – You and your family have more money with a tax-deferred annuity.

rider benefits of FlexPlus Annuities

Policy Values

Your Accumulation Value is 100%* of your premiums and earned interest. The Surrender Value is the Accumulation Value less any withdrawals and applicable withdrawal charges. The Accumulation Value Death Benefit at the owner’s death is paid in a lump sum and is an advantage to your beneficiaries. Prior withdrawals are deducted from the Accumulation Value, Surrender Value, and Death Benefit.


Your interest earnings are available when you need them. You may withdraw up to 100% of your accumulated interest or receive monthly interest checks, or a 10% Free Withdrawal is available after the first contract year. The minimum interest check is $200. Any premium withdrawn during the first seven policy years is subject to withdrawal charges.

Since there are no front-end sales charges or annual fees, 100% of your money is always working for you!

Payout Options

You may elect to annuitize at any time after 30 days. You have a wide range of options from which to choose. A payout option can be tailored to meet your specific needs. Withdrawal charges are waived if you elect a lifetime payout after the fifth contract year.


  • Your money is never subject to market risk, and the minimum rate is guaranteed to never be less than 1.0%.
  • GILICO is legally required to maintain reserves and certain minimum levels of capital and surplus to further protect your money.

*Some states charge a premium tax

State Approvals

** California and Tennessee ONLY – Please note the new FlexPlus annuity includes a full accumulation value death benefit and the Terminal Illness Rider, but the Nursing Care Facility Waiver Rider – GI534 (3/08), Enhanced Life Income Payment Option Rider – GI533 (3/08) are not available.

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wyoming