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Independent Review of the Forethought Life ForeAccumulation ll FIA 7-Year Annuity

What will we be going over in this annuity review?

In this review of the Forethought Life ForeAccumulation ll FIA 7-Year Annuity, we will be discussing the following information:

  • Type of annuity
    Independent Review of the Forethought Life ForeAccumulation ll FIA 7-Year Annuity
  • How the annuity works
  • Pros and cons
  • Fees
  • Where this annuity may or may not fit in a financial plan

Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in.
We make the complex, simple.

If you’ve been considering the purchase of an annuity because you want your money to grow, while at the same time being protected from market downturns (like the 2020 COVID-19 “correction”) – and you also want to have the assurance of receiving an ongoing lifetime income stream in retirement, then the ForeAccumulation ll 7-Year Fixed Indexed Annuity from Global Atlantic Financial Group (and offered via Forethought Life Insurance Company) might be a good option for you.

However, before you run out and make a long-term commitment on this – or any – annuity, it is essential that you first have a good understanding of how the product works, and whether or not it may ultimately be the best fit for your financial goals.

Throughout the past several years, the popularity of fixed indexed annuities has risen substantially. One of the primary reasons for this is because the annuities are considered by many to offer the best of all worlds.

What exactly does that mean?

For one thing, a fixed indexed annuity can provide you with the ability to attain a return that is linked to an underlying market index (or multiple market indices) such as the S&P 500. But, if the market index performs poorly, you don’t have to worry about losing your hard-earned principal.

On top of that, the growth that takes place inside of the annuity is tax-deferred, meaning that there is no tax due on this gain until the time it is withdrawn – and that can allow for a nice compounding of your funds.

In addition, just like with other types of annuities, the fixed indexed version also allows you to opt for a guaranteed lifetime income in retirement. So, you can count on receiving incoming cash flow for as long as you (as well as your spouse or partner, if applicable) may need it.

But first, there are some things you need to be aware of, such as how much it could “cost” you to get out of an annuity if you discover after you purchase it that it really isn’t going to do what you want it to do.

That’s not to say that these types of annuities are bad. In fact, they aren’t – and they can be an integral component of your overall retirement portfolio – as long as they fit in with your specific financial needs and goals…and that you are completely aware of that the “tradeoffs” may be for securing the benefits the annuity can offer you.

That’s where the Annuity Gator can help.

Annuity and Retirement Income Planning Advice That You Can Trust!

If this is your first visit to our website (or you just aren’t sure who the heck Annuity Gator is), we would like to personally welcome you here to We are a team of experienced financial professionals and retirement income specialists who are dedicated to providing in-depth reviews of annuity products. Literally hundreds of individual annuity reviews can be found in our extensive annuity review database right here on our side.

We’ve been doing this for many years now – far longer than most of our “copycat” competitors – and because of that, we have come to be known as a highly trusted source of annuity information on the Internet.

Because so much information about annuities (and other financial products) can be found online these days, it is really convenient to conduct a lot of research before you buy something. That being said, though, there is also a lot of fluff – as well as “information” that isn’t necessarily designed to educate you, but rather to “lure” you in and provide companies with your contact information.

But who doesn’t like getting dozens of spam emails every day?!

If you’ve been looking for information about annuities via the Internet, then it is also highly likely that you have come across many conflicting details about these financial vehicles. This isn’t really very surprising to us, though, because there are a lot of opinions (both positive and otherwise) about these products floating around online.

So, who’s opinion should you trust?

That’s a really good question!

Although there are actually many different websites online that focus on providing annuity products and information, there are some that will attempt to get you to part with your name and email address by highlighting some pretty bold claims like:

  •  Lowest fees
  •  Highest income payouts
  •  Guaranteed lifetime income
  •  Top-rated companies

Look familiar?

However, even though these claims certainly can sound very appealing, it is really important that you know whether or not they are actually the truth. But with the help of Annuity Gator, you will be much better able to sort of the BS from the truth.

In fact, if you’ve landed here on our site in search of more details on the ForeAccumulation ll 7-Year fixed indexed annuity from Forethought Life, then you are definitely in the right place. Dare we even say that our website is the only place where you can find out all of the information – the good, the bad, and yes, even the ugly. Knowing the whole picture, though, can help you in determining whether this product will be right for you.

Just to be perfectly transparent, here, a fixed indexed annuity can provide some really nice benefits. This, however, is really only the case if the product fits in with your specific financial plans. With that in mind, you should also know why you’re going with the annuity – and why you are choosing it over a long list of other potential annuities that may be available to you.

So, if you’re ready to learn more, let’s dive in!

The Forethought Life ForeAccumulation ll 7-Year Fixed Index Annuity at a Glance

Product NameForeAccumulation ll 7-Year
IssuerGlobal Atlantic Financial Group / Forethought Insurance Company
Type of ProductFixed Index Annuity
S&P RatingA- (Strong)
Phone Number(866) 462-8992
Website /

Opening Thoughts on the Forethought Life Insurance Company’s ForeAccumulation ll 7-Year Fixed Index Annuity

Through its subsidiaries like Forethought Life Insurance Company, Global Atlantic Financial Group offers a wide range of retirement and life insurance products that can help them to customize wealth accumulation and protection, as well as future income, asset transfer, and legacy needs.

In the whole scheme of things, this company is relatively new – particularly in relation to some of the other “centuries-old” insurance carriers that possess long histories, and that have plowed through both good and bad markets throughout the years.

Global Atlantic actually came about in 2004, initially as Goldman Sachs Reinsurance Group. Then, with several acquisitions, the company grew, and in 2013, it separated from Goldman and incorporated as Global Atlantic Financial Group Limited. Today, Global Atlantic is a privately held firm, with approximately 1,500 owners/shareholders that primarily comprise management, employees, individuals, and institutions.

Strong and stable financially, Global Atlantic’s insurance companies have high ratings, including an A (Excellent) from A.M. Best, and A- (Strong) from Standard & Poor’s, and an A3 (Stable) from Moody’s Investor Services. As one of Global Atlantic’s subsidiaries, Forethought Life Insurance Company holds nearly $30 billion in assets.

Over the past several years, annuities have become a very popular financial product – particularly for retirees and those who are approaching retirement. One of the biggest reasons for this is because an annuity will allow your money to grow tax-deferred, and it can also provide you with a lifetime stream of income that you literally cannot outlive.

Fixed indexed annuities in particular have become a top choice for investors, as they allow the opportunity to earn higher returns than a regular fixed annuity, while at the same time keeping your principal safe from volatile market movements.

Yet, even though this might sound like a win-win-win situation, the reality is that if something sounds like it may be too good to be true, then it typically is – so you should ideally get as much in-depth detail as possible if you are considering committing to it for the long term.

Before we get into the gritty details, here are some necessary legal disclosures…

This is an independent annuity product review. It is not a recommendation to purchase or to sell an annuity. Neither Forethought Life Insurance Company nor Global Atlantic have endorsed this review in any way, nor do we receive any type of compensation for providing this review. This annuity review is meant solely to be an independent review at the request of our readers so that they may see our perspective when breaking down the positives and the negatives of this particular annuity. Before purchasing any type of insurance and/or investment product, it is important that you do your own due diligence, and that you consult a properly licensed professional if you should have any specific questions that relate to your individual situation. All of the names, marks, and materials that were used for this annuity review are the property of their respective owners.

For more information on how to compare annuities in order to determine which one may be the best for you and your financial circumstances, Click here to obtain our free annuity report.

How Forethought Life Insurance Company/Global Atlantic Describe the ForeAccumulation ll 7-Year Fixed Index Annuity

According to Global Atlantic’s website, the ForeAccumulation fixed indexed annuity can provide you with the opportunity to grow your money while knowing that you will never experience decreases from poor market performance.

With the annuity’s optional Enhanced Death Benefit, or EDB, you can also leave a legacy to your beneficiary (or beneficiaries). With ForeAccumulation, you can essentially “personalize” your retirement growth potential via a variety of interest crediting options. And, if you also want predictable growth, you may choose a competitive fixed rate.

In any case, though, you cannot lose money in this annuity – at least not due to poor underlying market or index performance. One reason for that is because you are not actually purchasing shares of any index or investment. Therefore, your money is not subject to the volatility of any markets.

The optional enhanced death benefit is actually a separate component from the annuity’s contract value. This benefit can provide you with steady and predictable growth, which in turn, can provide your loved ones with a legacy.

Each year, this benefit grows by a guaranteed 7% of premium, for up to 15 years. Then, if you pass away while still owning the annuity, your beneficiary(ies) will either receive the enhanced death benefit amount, or the amount of your contract value – whichever is more. (Note that if you do not opt to include the enhanced death benefit feature, your annuity’s contract value will pass on to your named beneficiary(ies) – guaranteed.

For more details on the features on the Forethought ForeAccumulation ll 7-Year FIA annuity, you can check out the product highlights on the Global Atlantic website HERE.

How an Insurance or Financial Advisor May “Pitch” This Annuity to Clients or Prospects

Today, people are living much longer than ever before in history. Yet, while that can be a positive factor in many respects, it can also bring about the worry of outliving your income in retirement. In other words, if you want your income to last until you “run out of time,” it can take a bit of planning ahead. But don’t worry, the Annuity Gator can help you to narrow down just the right income option for you.

With many people who are preparing for retirement being concerned about growing their savings, while at the same time keeping their principal safe, it is possible that an insurance or financial advisor would present this annuity as a vehicle for accomplishing both of those goals. Plus, there is also the option to choose income for life with this annuity.

What the agent may or may not really focus a whole lot on, however, is the “fine print” – which can more clearly explain some of the “tradeoffs” that you’ll need to make in order to garner some of the benefits.

For instance, if you opt to add the Enhanced Death Benefit (EDB) feature, it can “cost” you more than 1% per year – and this can eat into the ultimate return that you receive from the annuity – especially over a long period of time.

In addition, most annuities – including the Forethought ForeAccumulation ll 7-Year FIA – come with surrender fees if you withdraw more than 10% of the contract’s value during the surrender, or withdrawal, charge period.

On top of that, if you are under age 59 ½ when you make a withdrawal, Uncle Sam will charge you with an additional “early withdrawal” penalty of 10% (of the withdrawal amount). So, the purchase of this (or quite frankly, any) annuity should always be considered a long-term financial commitment. This means that you definitely should not contribute funds that you anticipate needing for emergencies or other obligations over at least the next six years.

The Annuity Gator’s End Take on the Global Atlantic ForeAccumulation ll 7-Year Fixed Indexed Annuity:

Where it works best:

This particular fixed indexed annuity from Forethought Life will usually work the best for those who are looking for:

  •  The opportunity to obtain a higher rate of growth than that of a regular fixed annuity
  •  Safety of principal
  •  A way to leave a legacy for loved ones
  •  Lifetime income

Where it works worst:

Conversely, this particular annuity may not fare so well for those who:

  •  Want or need to access their funds penalty-free within the surrender charge period (and/or before they turn age 59 ½).
  •  Do not intend to use the guaranteed lifetime income feature.

In Summary

There are a number of really important factors that should be considered before you commit to a long-term financial product like an annuity. If you are still leaning towards purchasing a fixed index annuity like the ForeAccumulation ll 7-Year annuity from Global Atlantic/Forethought Life Insurance Company, you can be assured that your principal will be safe from the ups and downs of the stock market, as well as that you will have a future retirement income that you can count on in retirement.

But in reality, the only way to really know if this particular annuity (or any annuity, for that matter) is right for you is to have it “tested”. Just like taking a car for a little test drive, a similar process can be done with annuities. And in doing so, you can garner a much better idea of what to anticipate in terms of performance, as well as other factors like fees. We can do this testing for you, and then provide you with an in-depth and personalized spreadsheet that shows how the annuity may perform given your specific parameters.

We can also conduct side-by-side comparisons of an annuity that you already own with one that you may be considering. This can help to either keep you on the same track, or to make revisions as needed, based on any changes in your life and/or your financial objectives.

In going this route, you could find that the ForeAccumulation ll 7-Year annuity fits the bill for you – or, you may also find out that there could be some other product(s) out there that work better for you and your particular situation.

If you would like to move forward with “testing” this annuity for your specific needs – at no cost and no obligation to you – then just simply let us know here via our secure online contact form.

Still Have More Questions About the ForeAccumulation ll 7-Year Fixed Index Annuity? Did You Happen to Notice Any Mistakes in this Annuity Review?

We understand that this annuity review ran a bit on the long side. So, we thank you for sticking with us here to the end. However, when we are creating our reviews here at, we would much rather “err” on providing “too much” information for our readers rather than not enough. That way, you will be in a better position to make a truly informed decision as to whether or not a particular annuity product is right for you.

In addition, we also know that annuity information can – and often does – change on a regular basis. So, if you happened to notice any details in this annuity review that may need to be updated or revised, then please let us know that as well, and we will be happy to make any of the needed changes here. Likewise, if reading over this review caused even more confusion about this product, then please click here in order to let us know that as well.

Are there any other annuities that you would like to see reviewed on our website?

If so, just let us know the name of the product (or products), and we will get right on it. You can access our extensive annuity review database through our website HERE.


The Annuity Gator.

P.S. If you would like to read more of our Forethought Life reviews here are some links to check out:

Independent Review of the Forethought Life ForeAccumulation ll FIA 7-Year Annuity


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