F&G Annuities & Life at a Glance: Rates, Products and Reviews

F&G Annuities & Life was established in 1959 and provides life insurance and various types of annuities that help individuals realize their financial aspirations.

F&G is part of the Fidelity National Financial family of companies and, since offering its first fixed index annuity in 1998, has expanded operations through multiple mergers and acquisitions. It has served over 900,000 people nationwide, delivering innovative and creative solutions for building a more secure future.

This guide will explain the annuities F&G Annuities & Life offers so you can decide if their products are right for you.

F&G offers several different types of annuities including fixed index annuities and multi-year guaranteed annuities. You can choose between deferred and immediate annuities depending on your financial goals.

Fixed index annuities (FIAs) offer downside protection combined with the potential for growth based on the performance of a market index such as the S&P 500. You don’t have to take the risk of active market participation, but you have the potential to grow your investment more than with a fixed annuity alone. This makes the investment ideal for moderate-risk investors with five to 15 years before retirement.

F&G offers a range of FIA products, such as the F&G Safe Income Advantage Annuity and Pro Performance Annuity, with minimum premiums as low as $10,000 and an index-based interest guaranteed to never fall below 0%. It also offers the D&G Power Accumulator, a fixed index annuities that leverages ETFs as the primary source of interest crediting.

F&G provides FIAs through financial and insurance professionals. These products offer a Guaranteed Minimum Withdrawal Benefit (GMWB), and F&G provides the insight you need to make informed choices. This includes online charts showing how much a $100,000 investment in the insurer’s FIA products could grow over time.

Considered a more conservative option, multi-year guaranteed annuities (MYGAs) provide the opportunity to earn tax-deferred interest at a guaranteed, fixed rate for a specific period.

When purchasing a MYGA, you select the guarantee period up front, and after that period ends, the account will automatically renew annually. Once you exceed the guarantee period, you can withdraw the account balance penalty-free at any time.

F&G offers MYGAs with an initial fixed interest rate guaranteed period of three, five or seven years, with premiums ranging from $20,000 to $2.5 million, though higher premiums may be available with approval.

F&G offers deferred annuities for those who want stable, reliable retirement income in the future. Deferred annuities allow you to contribute money during an accumulation phase and receive income during the payout phase.

For example, the F&G SecureIncome Annuity offers guaranteed growth at a set percentage for the first 10 years of account ownership and stable payments for the duration of your life.

You can choose how far into the future you want your annuity to begin paying out. Once your annuity payments begin, you’ll receive a steady income for a set period as established in your agreement — often for life.

Immediate annuities allow you to make a lump sum payment that can be converted into a steady income for a specific period or your lifetime. Immediate annuities, like the FG Immediate-Income product, offer a popular way for retirees to gain quick access to an income stream instead of waiting for a contribution period.

There are many benefits to buying annuities from F&G Annuities & Life. Some of the advantages include the following:

F&G Annuity fees and charges vary by product. If you purchase an F&G annuity, you may see one or more of the following fees, depending on the product and circumstances.

Fees can impact your premium and how your annuity performs over time. Always ask about potential, product-specific fees before you purchase an annuity.

If you own an F&G annuity or life insurance, you can reach the F&G Service Center via phone at 888-513-8797. You can also use F&G’s website to find a financial professional to connect with who can help you purchase an annuity.

Fidelity & Guaranty Life has an A+ rating from the Better Business Bureau. However, the provider has a 1.3-star review out of a potential five stars. Note that insurers may receive poor customer service ratings on the BBB website because the products they provide are complex, and consumers may not fully understand the terms of their agreement.

Choosing an insurer that demonstrates reliable financial strength is essential because your insurer’s ability to pay as promised in the annuity contract depends on its financial solvency.

F&G Annuities & Life has received scores from the top financial strength rating agencies.

F&G offers an array of annuity products that can provide a source of income in retirement; however, consumer information about these products is limited. If you’re considering an F&G annuity, contacting the company directly to discuss your options is best. Fortunately, connecting to a financial services provider via the F&G website is easy.

The company has a solid financial strength, with stable ratings from each of the four major rating agencies: AM Best, Fitch Ratings, S&P Global and Moody’s.

It’s always best to compare annuity offerings among different providers, focusing on your rate, the fees you are being charged and the guaranteed income the annuity will provide. A financial advisor can also help you to understand better whether you should purchase an annuity and what types of annuity products can help you to have a secure retirement.

Editor Norah Layne contributed to this article.