Is Fidelity & Guaranty Life Insurance Company (F&G) a Good Company to Buy From?
Short Answer: Yes—F&G is financially strong and widely used for annuities, especially fixed and indexed annuities. However, strong company ratings do not guarantee that every product is competitively designed. You should always compare features, fees, and long-term terms before buying.
What You Need to Know About Fidelity & Guaranty
Fidelity & Guaranty Life Insurance Company (commonly known as F&G) has been in business since 1959, giving it over six decades of experience in the insurance and annuity marketplace. The company is based in Des Moines, Iowa, and serves more than one million policyholders across the United States. F&G maintains solid financial strength, with the following ratings from major financial rating agencies:
These ratings reflect the company’s financial ability to meet policyholder obligations and deliver on long-term promises, which is critical when choosing a life insurance or annuity provider.
What Products Do They Offer?
F&G offers a focused portfolio of annuities and life insurance products designed for asset protection, retirement income, and legacy planning:
Annuities:
- Fixed Indexed Annuities (FIAs): Offer growth potential linked to market indexes with downside protection. Most include optional guaranteed lifetime withdrawal benefit (GLWB) riders.
- Multi-Year Guaranteed Annuities (MYGAs): Provide guaranteed fixed interest rates for a set number of years, offering predictability and safety.
- Registered Indexed-Linked Annuities (RILAs): Combine market-linked growth with a level of downside protection. Suitable for those seeking higher growth potential with managed risk.
Speak to a broker to help compare F&G annuities
Compare Annuity Income From F&G With Other Companies
Life Insurance:
- Indexed Universal Life (IUL): Permanent coverage with cash value growth based on index performance. Often used for supplemental retirement income, estate planning, or tax-advantaged wealth transfer.
Compare F&G Life Insurance With Other Companies
Why Rate Comparisons Matter
When evaluating whether F&G is the right company for your financial goals, comparing premium rates, interest crediting strategies, and income payouts is essential. Premium rates determine your upfront cost for coverage. Interest rates—especially in fixed and indexed annuities—determine how much your money will grow. Income payouts, particularly from annuities with GLWB riders, determine the amount of guaranteed income you’ll receive for life. F&G often provides competitive options across all three, but the best product for your needs depends on your personal retirement goals, risk tolerance, and liquidity preferences.
Our Professional Opinion
F&G is a good annuity company, and we particularly like some of its guaranteed lifetime-income options. Its fixed annuities are also worth comparing when the rate is competitive. We are less enthusiastic about some of its longer, more complicated bonus annuities.
Fidelity & Guaranty Life Insurance Company has an A (Excellent) rating from AM Best, above our A− minimum.
For lifetime income, we like that some F&G annuities offer contractually guaranteed income growth while you wait to start withdrawals. We prefer that to relying heavily on future index performance. The actual guaranteed paycheck still needs to be competitive—a large income base or bonus does not automatically mean more income.
For accumulation, we would compare F&G’s indexed annuities with a simpler contract that locks a competitive cap or participation rate on a traditional index. Some F&G crediting terms can change at renewal while surrender charges remain in effect.
What We Like
- Good financial strength: F&G’s A rating meets our standard.
- Guaranteed income growth: Some riders provide a predictable path toward future lifetime income.
- Fixed-rate choices: F&G offers MYGAs with different guarantee periods.
What We Don’t Like
- Some income designs rely heavily on performance: We prefer stronger contractual guarantees when planning future income.
- Long surrender periods: Some bonus products require a lengthy commitment that we do not think is worthwhile for most buyers.
- Renewal-rate risk: Caps and participation rates can be reduced after a crediting term.
- Fees and bonus restrictions: Rider fees can reduce account value, and some bonuses take years to vest.
Explore our individual F&G annuity reviews using the links below to see which products we like and which ones we would pass on.
Our F&G Annuity Reviews
- F&G Accelerator Plus 10 Annuity
- F&G Performance Pro Annuity
- F&G Power Accumulator Series
- F&G Prosperity Elite 14 Annuity
- F&G SecureIncome 7 Annuity
- Fidelity & Guaranty Guarantee-Platinum MYGA
- Fidelity And Guaranty Safe Income Advantage Annuity
In The News
Pros and Cons
Pros:
- Over 60 years in the industry with strong financial backing
- High customer satisfaction in the annuity space
- Competitive annuity rates and indexed universal life options
- Broad choice of index strategies across annuity products
Cons:
- Some complaints regarding service delays and policy processing
- Indexed products may include complex features that require explanation
- Not all riders are available in every state or contract version
Who Needs F&G Products?
- Retirees and pre-retirees looking for protected growth and guaranteed income through annuities
- High-income earners looking to accumulate tax-deferred growth with indexed universal life insurance
- Savers seeking fixed income options that beat traditional bank CDs or savings rates
- Families and business owners needing permanent life insurance with flexible cash value access
Who Doesn’t?
- Individuals seeking simple, low-cost term life insurance (F&G focuses more on indexed universal life)
- Investors wanting full market exposure (F&G does not offer variable annuities)
- Clients needing highly responsive digital platforms may find F&G’s user experience less robust than some competitors
Other Insurance-Based Tools to Consider
F&G’s fixed indexed annuities and MYGAs are not the only solutions for income and legacy planning. Consider pairing their annuities with:
- Long-term care annuities: If you’re concerned about healthcare costs later in life.
- Term life insurance: A low-cost way to protect principal while allocating remaining assets to a lifetime income annuity.
- Deferred income annuities or GLWB-based FIAs: If your primary goal is lifetime income, these provide predictable, irrevocable or revocable income options based on your preferences.
Talk to a Licensed Advisor Before Making a Decision
Fidelity & Guaranty offers competitive annuity and life insurance products, but they may not be the best fit for everyone. Comparing premium rates, crediting strategies, and income payout structures across multiple carriers is essential to avoid locking into a plan that doesn’t meet your needs. Contact The Annuity Expert for a free quote and personal consultation. We’ll help you evaluate all your options and determine if F&G fits your goals—or if there’s a better alternative available.
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