F&G Safe Income Plus Annuity (Review)

Shawn Plummer

CEO, The Annuity Expert

The Safe Income Plus is great for income not so much for growth.

The Safe Income Plus is a great fixed index annuity if you are seeking a pension alternative and long term care assistance. With that said, buy with the income rider not without.

Disclaimer:  This is an independent review.  Fidelity & Guaranty has not endorsed this review.  This review is meant for our readers conducting research.  

Who should purchase the Safe Income Plus annuity?

Pre-Retirees and Retirees that want to generate a predictable fixed income payment similar to a pension plan. Basically, if you want to know today what your fixed income stream could be tomorrow, the Safe Income Plus is a good option.

The income payouts (not annuitization) are higher than most other fixed income annuities with income riders, and the income can double for eldercare purposes down the road.

Who should not purchase the F&G Safe Income Plus annuity?  

Pre-Retirees and Retirees that just want to safely grow their retirement account. 

The growth potential stinks on this product. Any interest earned will cover the fees at best.

Find Fidelity & Guaranty Life Annuity Rates here.

F&Amp;G Safe Income Plus Brochure (Pdf)
F&G Safe Income Plus Brochure (pdf)

Safe Income Plus Overview

Fidelity & Guaranty is “A-” rated insurance company.

10 Year Contract

As of now, you will get up to an 8% Bonus. (This fluctuates depending on when you purchase a policy)

You need at least $10,000 to start a contract.

There are 10% penalty-free withdrawals after the first year if you need access to funds.

Optional Income Rider (which you should always add with this contract)

This will provide you an income stream you will never outlive, and enhance that income payment if you can’t perform 6 out of 8 Activities of Daily Living.  Currently, your income payment will enhance to 200%  if the contract is based on a single person, and 150% if your contract is based on two persons.  Consider this a benefit to help pay for eldercare needs in the future such as long term care.  You can turn this income stream on and off throughout your years.

The optional income rider will cost you 1.05% annually in fees.

Home Health Care Rider

Surrender Charges and MVA are waived if you require services provided by a licensed Home Health Care Provider, and unable to perform 2 of 6 Activities of Daily Living (Bathing, Eating, Dressing, Toileting, Transferring, and Maintaining Continence).

No additional cost for this rider.

Nursing Home Benefit

You will have 100% access to your account after 60 days in the confinement of a qualified care facility. This benefit is available starting in year 2 of the contract.

No additional cost for this benefit.

Terminal Illness Rider

100% access to the account if diagnosed of less than 1 year to live. This benefit is available starting in year 2.

No additional cost for this rider.

Death Benefit Options

Whatever is left in your account value (not income value) at death will either be left to heirs in a lump sum as one option.

The other option for a surviving spouse is to continue the contract via spousal continuance. Your income payments may change.

Fidelity & Guaranty Safe Income Plus Review

Safe Income Plus is a great solution for someone who may or may not know when they are going to retire.

What this means is you can know what your fixed income could be up to 20 years from now for instance.

Compared to most other annuity products currently, the income payouts are higher which means higher paychecks are coming your way. 

You will pay 1.05% total in annual fees to pay for the income rider.  This is pretty low considering you’ll typically pay between 3% – 4% total in fees on most variable annuities.

However, the growth potential stinks.

Consider any growth to cover the income rider fee, but hey you’ll get the same income payment even when your account value runs out.

The Safe Income Plus is a fixed index annuity which means you can earn interest based on market performance.  The tradeoff is your capped heavily on your upside potential.  Do not buy this contract for growth only.

Another thing to mention is you can not lose your money due to market volatility. 


If your looking for a retirement solution similar to a pension for a fixed retirement income stream, the F&G Safe Income Plus annuity is a good option. 

The Safe Income Plus annuity is not a good option for growth.


Financial Professional looking for annuity help or insurance leads? Contact The Annuity Expert.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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