Fidelity and Guaranty Life (F&G) has been in the business of offering life insurance and annuities for more than six decades. The company offers its products through the growing independent agent market.
F&G’s parent company, USF&G, launched Fidelity and Guaranty Life Insurance Company in 1959, with a mission of providing life coverage and annuities through the property and casualty insurance market.
In 2001, a UK-based company, Old Mutual, acquired Fidelity & Guarantee Life Insurance Company in order to expand into the U.S. market. Since that time, F&G has added to its annuity product line, and today offers fixed and fixed indexed products.
Currently, F&G has approximately 700,000 policyholders. The company is headquartered in Des Moines, Iowa, and as a publicly traded company, its stock is listed on the New York Stock Exchange and trades under the symbol FG.
Annuities Offered Through Fidelity and Guaranty Life
Fidelity & Guaranty Life Insurance Company offers several annuities – including traditional fixed and fixed indexed products. These include the:
- FG Guarantee Platinum – The FG Guarantee Platinum is a traditional fixed annuity and may work well for those who are seeking a predictable interest rate, as well as a steady and ongoing income stream they can count on. With this annuity, you can lock-in a rate for a three-year period of time. At the end of each three year periods, you will have the option of withdrawing any amount of funds within 30 days – including the entire contract value. If you opt to keep your funds in the annuity, your rate will renew again for another three-year period. For more details about the FG Guarantee Platinum fixed annuity go HERE. You can also find more specific information for each of the guarantee periods via the product brochures:
- Prosperity Elite – The Prosperity Elite is a fixed indexed annuity. This means that some – or even all – of your return will be based on the performance of an underlying market index. Any of the growth is tax-deferred, so you won’t need to worry about paying tax on the gain until the time you withdraw. If the underlying index performs in the negative during a given year, your annuity won’t lose value. Rather, your account will simply be credited with 0% interest for that time frame. To find additional details about the Prosperity Elite annuity from Fidelity & Guaranty Life, go HERE.
- Safe Income Plus – Fidelity & Guaranty Life Insurance Company’s Safe Income Plus annuity is a flexible premium, deferred fixed index annuity. Here, too, you can opt to have your funds track an underlying index and/or a fixed account. In addition, the insurance carrier will provide you with a bonus to your account if it vests over ten years. For more details about the Safe Income Plus fixed indexed annuity from Fidelity & Guaranty Life, go HERE. You can also access the full <Safe Income Plus annuity product brochure HERE.
Is an F&G Life Annuity a Good Option for You?
Even though annuities can certainly provide some nice benefits – such as tax-deferred growth and a guaranteed income for life – it is important to keep in mind that not all annuities are the same.
So, before you make a long-term commitment to purchasing an annuity, make sure that you know exactly what you’re getting. Otherwise, it could be quite costly – in terms of withdrawal charges, taxes, early withdrawal penalties, or all of the above – if you change your mind.
Because of that, having a guide to walk you through the annuity purchasing process can be beneficial. At Annuity Gator, our focus has always been on educating consumers on how annuities work, and on what to anticipate with the different types of annuities that are available in the marketplace.
If you’d like to determine whether or not an annuity is right for you – and if so, which one would fit best in your portfolio – feel free to reach out to us by phone, toll-free, at (888) 440-2468, or online through our secure contact form to set up a time to chat with an annuity expert.
The Annuity Gator