Guaranty Income Life Guaranty Growth Plus Fixed Indexed Annuity

The core FIA structure works the same way in the Guaranty Growth Plus as in any fixed indexed annuity: the single premium is not invested in the market. Instead, interest credits are calculated based on the performance of one or more market indexes, subject to the crediting parameters (caps, participation rates, or spreads) specified in the contract. When the index performs positively, interest is credited according to those parameters. When the index is flat or negative, zero credits are applied — the account value does not decline from index performance. This zero floor on indexed crediting is the principal protection mechanism that separates FIAs from direct market investments and from variable annuities, where the account value can decline from poor investment performance. The Guaranty Growth Plus also typically includes a fixed account option alongside the indexed strategies, giving contract owners the ability to allocate a portion of the premium to a declared fixed rate for certainty alongside index-linked growth potential. Our resource on how does a fixed indexed annuity work covers the FIA crediting mechanics in full, and our resource on how do annuities earn interest covers how indexed crediting compares to fixed declared-rate and variable crediting approaches.

The product’s income architecture centers on the Guaranteed Lifetime Income Benefit (GLIB) — a lifetime income mechanism built into the contract structure. The GLIB maintains a separate income benefit base that grows at a guaranteed rate during the deferral period, providing a growing foundation for future lifetime income regardless of how the indexed accounts perform. This income benefit base grows independently of the FIA account value — it is not reduced by negative index years or by GLIB charges, making the deferral-period growth predictable and contractually defined. When income is activated, guaranteed lifetime withdrawals are calculated based on the income benefit base and the applicable withdrawal percentage for the owner’s age. The Income Doubler provision — a care-related income enhancement feature — may temporarily increase the guaranteed income payment when the owner cannot perform a defined number of Activities of Daily Living (ADLs) or has a qualifying cognitive impairment, providing an additional income layer during a period when care-related expenses are likely elevated. These three layers together — indexed accumulation, guaranteed lifetime income, and the ADL-triggered income enhancement — are the defining architectural features of the Guaranty Growth Plus. Our resource on what is a GLWB covers the mechanics of guaranteed lifetime withdrawal benefits, and our resource on best FIAs with lifetime income riders covers the competitive landscape this product fits into.

Guaranty Growth Plus — Three Layers of Contract Value

The Guaranty Growth Plus is most effectively understood as three layers of benefit operating simultaneously within one contract. Understanding what each layer does — and importantly, what it does not do — prevents the confusion that arises when buyers treat the income benefit base as a cash value or the Income Doubler as long-term care insurance.

This table reflects general product architecture based on publicly available product documentation. Specific crediting parameters (caps, participation rates, spreads), GLIB rollup rates, income withdrawal percentages, Income Doubler qualifying conditions, benefit maximums, surrender charge schedules, free withdrawal provisions, and MVA applicability are defined in the specific contract and vary by state and issue date. Always verify current contract terms via a formal illustration from GILICO or a licensed broker before any purchase decision. Product availability varies by state.

The FIA Accumulation Layer — Index Credits and Principal Protection

The single premium deposited into the Guaranty Growth Plus is allocated to indexed account strategies and optionally a fixed account. The indexed strategies credit interest based on the performance of one or more market indexes during each interest crediting period, subject to the contract’s specific caps, participation rates, or spreads. In periods when the chosen index rises, interest is credited to the account value according to the applicable crediting parameter — a cap limits the maximum credited rate in cap-based strategies; a participation rate credits a defined percentage of the index gain in participation-based strategies; a spread deducts a defined percentage from the index gain. In periods when the index is flat or negative, zero interest is credited — the account value is not reduced by negative index performance. This zero-floor principal protection is the fundamental design feature that separates FIAs from market investments and that drives the product’s appeal for conservative retirement savers who want some upside participation without market loss exposure.

The account value grows through these indexed credits over the accumulation phase, with compounding adding each new credit to the growing base. For non-qualified contracts funded with after-tax dollars, this growth is tax-deferred — no annual 1099 for credited interest unless a withdrawal is taken, which means the full compounding benefit applies without annual tax erosion. For qualified contracts funded through IRA or 401(k) rollovers, the tax-deferred treatment is maintained within the qualified wrapper. The account value is the real balance that can be accessed within the free-withdrawal provision, surrendered (subject to the surrender charge schedule and any MVA), or paid to beneficiaries at the owner’s death. Our resource on how are annuities taxed covers the tax treatment framework for both qualified and non-qualified FIA distributions. Our resource on is a fixed indexed annuity safe covers the principal protection and carrier backing framework that guarantees the account value floor.

The GLIB — Guaranteed Lifetime Income Built Into the Contract

The Guaranteed Lifetime Income Benefit (GLIB) in the Guaranty Growth Plus is described as built into the contract structure rather than a separately purchased and separately charged rider — a design that can simplify the product evaluation process compared to FIAs where income riders must be evaluated and priced as separate additions to the base contract. During the deferral period, the GLIB’s income benefit base grows at a guaranteed rollup rate each contract year, independent of what the indexed accounts produce — meaning poor or zero index years do not interrupt the guaranteed rollup of the income benefit base. This deferral-period growth is the income-building mechanism: the longer the income is deferred within the rollup eligibility window, the larger the income benefit base becomes at activation. A larger income benefit base at activation produces a larger guaranteed annual withdrawal amount, which is why deferral discipline is the primary lever for maximizing GLIB income output.

When income is elected, the annual guaranteed withdrawal amount is calculated by multiplying the income benefit base by the applicable withdrawal percentage — which typically increases with the owner’s age at activation, because older income start ages correspond to shorter expected payment periods. The GLIB continues paying the guaranteed annual withdrawal for the rest of the covered person’s lifetime — and if a joint-life income option is elected, for the lifetime of the surviving spouse as well. Critically, the GLIB continues paying even if the FIA account value is fully depleted by withdrawals, rider charges (if applicable), and negative index periods — this “continues after account value reaches zero” guarantee is the defining characteristic of any lifetime withdrawal benefit structure and is the mechanism that eliminates longevity risk for the income it covers. Our resource on how is annuity income calculated covers the income benefit base × withdrawal percentage formula framework, and our resource on how does a GLWB work covers the lifetime withdrawal mechanics that the Guaranty Growth Plus GLIB shares with broader GLWB designs across the FIA market.

The Income Doubler — Enhanced Payments for Care-Related Events

The Income Doubler provision is a care-related income enhancement — not long-term care insurance — that can temporarily increase the guaranteed GLIB income payment when the contract owner cannot perform a qualifying number of Activities of Daily Living (ADLs) or meets the contract’s definition of qualifying cognitive impairment. The purpose of this feature is to provide additional guaranteed income during the period when care-related expenses — whether for in-home care assistance, assisted living, or other care needs — are most likely to be elevated above the normal retirement income budget. When qualifying conditions are met, the enhanced income amount may reach up to double the base GLIB withdrawal amount for the qualifying benefit period. The distinction between the Income Doubler and long-term care insurance is essential for clear planning. Long-term care insurance pays for defined care services or reimbursed care costs. The Income Doubler increases the annuity’s guaranteed cash withdrawal — a flexible cash payment that the owner controls. It does not pay care providers directly, does not cover specific care facility costs, and is subject to contract-specific eligibility conditions, benefit maximums, and duration limits. For owners who need dedicated long-term care coverage, a separate LTC strategy remains appropriate alongside the Guaranty Growth Plus. Our resource on non-qualified long-term care annuity covers dedicated annuity-based LTC funding strategies for buyers who want a more robust LTC component in their annuity design.

Liquidity, Free Withdrawals, and Emergency Access

The Guaranty Growth Plus includes a penalty-free withdrawal provision that allows access to a specified percentage of the contract value annually without triggering surrender charges or the Market Value Adjustment (if applicable). This free-withdrawal provision typically becomes available starting in the second contract year. Withdrawals within the annual free provision do not affect the GLIB income benefit base in the way that early excess withdrawals can — maintaining the income deferral structure while providing partial liquidity for unexpected needs. Withdrawals that exceed the annual free provision during the surrender period are subject to surrender charges and potentially an MVA, which is why planning around the free-withdrawal limit and the surrender schedule is part of the initial contract evaluation. The contract also includes provisions for qualifying health events — specifically nursing home confinement and terminal illness — that allow broader access to the contract value without standard surrender charges when those conditions are met. Specific terms and qualifying conditions for these waivers are defined in the contract language. For repositioning rollovers and transfers into the Guaranty Growth Plus, our resources on how to transfer a deferred compensation plan to an annuity and how to transfer a defined benefit plan to an annuity cover the mechanics and tax considerations for specific source accounts. Our resource on annuity surrender charges and MVA covers the surrender charge and Market Value Adjustment mechanics that apply when excess early withdrawals are taken. Our resource on do income riders have fees covers the cost structure question across the FIA income market, providing context for how GLIB mechanics relate to the income rider cost framework more broadly.

Death Benefit and Legacy Outcomes

The Guaranty Growth Plus includes a death benefit provision that gives beneficiaries access to the remaining FIA account value at the owner’s death without surrender charges — meaning the death benefit is the full accumulated account value regardless of when during the surrender period the owner passes. Beneficiaries can typically receive the death benefit as a lump sum or structured distributions depending on contract provisions and applicable tax rules. For qualified accounts, beneficiaries are subject to the applicable IRS distribution rules for inherited retirement accounts, including the ten-year rule for most non-spouse beneficiaries. The death benefit means the Guaranty Growth Plus retains estate value as long as the FIA account value has not been fully depleted by GLIB withdrawals — the contract functions as both an income tool and an asset transfer vehicle for the amount remaining in the account. Our resource on annuity beneficiary and death benefits covers the death benefit mechanics across FIA products and how the residual account value passes to beneficiaries. For buyers who want guaranteed legacy value alongside income, our resource on guaranteed issue life insurance covers complementary life insurance options that can be structured to provide a defined death benefit independent of the annuity account value.

GILICO — Carrier Profile and Financial Strength

Guaranty Income Life Insurance Company (GILICO) has been in operation since 1926 — nearly a century of continuous operation that includes multiple recessions, the Great Depression, the 2008 financial crisis, and, for a Louisiana-based carrier, the institutional tests of Hurricane Katrina and subsequent major weather events. That operational longevity at a regional specialty carrier, combined with the company’s current AM Best A- (Excellent) rating, provides a meaningful durability signal for buyers making long-term FIA commitments. GILICO operates exclusively in the fixed annuity space — fixed annuities and fixed indexed annuities are its sole product focus — which concentrates its investment and claims-paying infrastructure in the product category where the Guaranty Growth Plus competes. GILICO is a subsidiary of Kuvare US Holdings, Inc., a life and annuity business focused on the middle market with pro forma consolidated assets exceeding $45 billion, providing additional capital backing and ownership stability behind the GILICO balance sheet. The company is based in Baton Rouge, Louisiana and maintains a focused regional distribution model through independent agents. Our resource on is GILICO a good insurance company covers the full carrier evaluation, and our resource on what an AM Best rating means covers how the A- (Excellent) designation compares across carriers in the FIA market.

Who the Guaranty Growth Plus Fits Best

The Guaranty Growth Plus is most appropriate for conservative pre-retirees and retirees who want three things in one contract: indexed accumulation potential during the deferral phase, guaranteed lifetime income that cannot be outlived, and an income enhancement mechanism for care-related circumstances. The built-in GLIB structure eliminates the separate rider selection process that FIA buyers with other products face — the income architecture is part of the contract design rather than an optional addition. The Income Doubler provision provides a targeted additional layer of income protection during a period when care costs are most likely elevated, without requiring a separate long-term care insurance policy for buyers whose care cost concern is addressed by the income enhancement rather than dedicated LTC indemnification. The FIA’s principal protection eliminates the sequence-of-returns risk that market-exposed accounts create in the early retirement years — our resource on sequence of returns risk covers why this protection is particularly valuable for retirement capital. The product is most compelling for buyers who are five to ten years from their income start date — because the GLIB income benefit base rollup during the deferral period compounds into a meaningfully larger income foundation by the time income is elected. For current rate context and multi-carrier income comparison, the Lifetime Income Calculator above and our resource on what is the best retirement income annuity provide the market landscape. For an independent verification of any Guaranty Growth Plus illustration against the full FIA income market, our second-opinion annuity quote review provides that multi-carrier comparison. Additional product deep-dives for comparison: American National Palladium MYG, ClearSprings Life ViStar FIA, Knighthead Life Chartline Bonus FIA, RevolOne AccumRev FIA, and Liberty Bankers Heritage Elite. The Financial Protection Essentials resources connected to this product page include: is short-term health insurance expensive, how to buy disability insurance online, travel medical for international students, travel medical from Holland, is Zurich a good insurance company, life insurance for X-linked adrenoleukodystrophy, and what should I do with my Keogh after I retire.