Guaranty Income Life Insurance Co (GILICO)

Guaranty Income Life Insurance Co (GILICO)

Get Appointed

Why Guaranty Income Life Insurance Co (GILICO)?

Since the 1920s, GILICO's primary focus has been on deferred annuity products, including annuity policies featuring long-term care benefits. GILICO offers 12 products spanning these two types of plans. Doing so provides your clients with the flexibility to select the best solution for their financial goals.

  • Check out the quick Product Reference sheet to compare the Flexible Premium options as well as the MYGAs offered by GILICO (current rates included)

State Availability

View a state approvals chart here.

FlexPlus Annuities


Guaranty Annuities

AnnuiCare (with LTC benefits)

No map available at this time – view the state approvals chart to check your state.

FlexPlus 5, 7, and 10

The FlexPlus Annuity Line is a Flexible Premium Deferred Annuity that features a competitive interest rate. Beginning on the first day of the second year, the annuity will earn a portfolio interest rate, which may go up or down, but will never be less than the contract's minimum guaranteed rate. There are no up-front sales charges or annual fees; 100% of your clients' money is working for them!

  • Minimum Amount: $5,000 NQ; $2,000 Q
  • Maximum Amount: $600,000
  • Maximum Issue Age: 79
  • Full accumulation value at death
  • 100% cumulative interest after 30 days
  • 10% annual withdrawal
  • Penalty free withdrawals for terminal illness or nursing care facility confinement
  • No medical questions or exams

Guaranty 4, 6, and 8

The Guaranty Annuity Line with Market Value Adjustment Provision is a Single Premium Deferred Annuity that is an attractive alternative to CDs and other taxable investments. The MVA is applied to any premium withdrawn during the guarantee period that is also subject to a withdrawal charge. The MVA is in addition to the withdrawal charge and may either increase or decrease the surrender value.

Guaranty 4:

  • Minimum Amount: $5,000 NQ; $2,000 Q
  • Maximum Amount 0-89: $600,000
  • Maximum Amount 90+: $200,000 without prior approval
  • Maximum Issue Age: 100 (85 in OK)

Guaranty 6:

  • Minimum Amount: $5,000 NQ; $2,000 Q
  • Maximum Amount 0-89: $600,000
  • Maximum Issue Age: 90

Guaranty 8:

  • Minimum Amount: $5,000 NQ; $2,000 Q
  • Maximum Amount 0-89: $600,000
  • Maximum Issue Age: 79

Liquidity Feature: Interest earnings are available when your clients need them. They may withdraw up to 100% of the accumulated interest or elect to receive monthly interest payments, subject to a $100 minimum. Premium withdrawals during the initial guarantee period are subject to the following withdrawal charges as well as a Market Value Adjustment.

Immediate Annuity

The GILICO Immediate Payout Annuity features guaranteed payments beginning as soon as one month after deposit. GILICO guarantees annuity payments for the entire payout period. The guaranteed payment is based upon the current monthly income factors in effect at the annuity start date.

  • Minimum Amount: $20,000
  • Maximum Amount: $300,000
  • Maximum Issue Age: 100

Payment options:

  • Fixed number of years, period certain, 10 year minimum
  • Life only
  • Life with a minimum number of years guaranteed
  • Payments are available monthly, quarterly, semi-annually, or annually, and may be deposited directly into your account.

AnnuiCare 4, 5, 6, 7, 8, and 10 (Long-Term Care Annuity)

Quick note: even though this is an annuity, there is still underwriting.

AnnuiCare® 4 with Market Value Adjustment Provision is a Single Premium Deferred Annuity that features a competitive interest rate and qualified long-term care insurance benefits up to triple the annuity value. Premiums for long-term care coverage are paid by automatic monthly withdrawals from the annuity. There are no front end sales charges or annual fees; 100% of your clients' money is working for them!

Generally, AnnuiCare® is attractive to individuals financially able to handle at least two years of long-term care expenses on their own, but who may wish to protect their assets against a greater liability.

  • AnnuiCare® 4, 6, and 8 feature a 4, 6, or 8-year guaranteed interest rate, respectively.
  • AnnuiCare® 5, 7, and 10 are Flexible Premium Annuities featuring a non-guaranteed interest rate.

AnnuiCare® is a tax-deferred annuity with tax qualified long-term care insurance benefits. AnnuiCare® allows the policyowner to have triple the annuity value for Qualified Long-Term Care expenses. “Qualified Long-Term Care Expenses” refer to specific expenses, defined by law, which are explained in the Outline of Coverage given to each applicant.

These riders pay for Benefits to cover Qualified Long-Term Care Services for the following:

  • Home Health Care
  • Care Planning
  • Caregiver Training
  • Homemaker Services
  • Hospice Services
  • Maintenance or Personal Care Services
  • Respite Care
  • Assisted Living Facility Care
  • Alternative Care Services
  • Nursing Home Care
  • Adult Day Care (50% of Daily Maximum)

Check out more product information inside the agent portal here.

New to Annuity Sales?

Annuity sales are a huge opportunity for independent agents in the senior market. If you want to learn how to sell annuities to seniors, you've come to the right place!

Check out our complete guide here: The Ultimate Guide to Selling Annuities In the Senior Market

Also, check out this video from annuity all-star, Michael Sams:

Sign In
This product may be available in other states not listed. Please contact us to inquire.