Fidelity and Guaranty (F&G) Prosperity Elite 10 Fixed Indexed Annuity

$10,000.00

F&G Prosperity Elite 10 fixed index annuity is a 10-year retirement plan designed to generate an income for life, help pay for long-term care expenses, and enhance a death benefit for beneficiaries.

The F&G Prosperity Elite 10 fixed indexed annuity is a 10-year retirement plan designed to help you:

  • Maximize retirement income with guaranteed payments for life
  • Preserve your savings with indexed growth potential and no downside market risk
  • Leave a financial legacy with a death benefit for peace of mind

 

What is an annuity? 

What is an annuity? An annuity is a long-term retirement tool that can be a cornerstone of your financial security and success.

You pay a premium (think of it as your principal) to F&G and F&G provides an annuity contract with unique benefits to you.

An annuity protects and potentially builds your savings, with the option of converting them into scheduled income payments for retirement.

Is an annuity a good investment? If you’re interested in an opportunity to grow your savings based on a market index–without the risk of actually participating in the market–a FIXED INDEXED ANNUITY may be a good choice for you.

 

 

Is Prosperity Elite 10 a good option for you?

Fidelity and Guaranty’s Prosperity Elite 10 Annuity protects your savings from market risks while potentially giving you market-based growth with tax-deferred earnings. It is a long-term retirement planning product with these important features:

Your choice for tax-deferred growth

You choose any combination of these potential interest-earning options:

Each of the index options is subject to caps, participation rates, and/or spreads.

The index options are linked to a market index, but you are not investing directly in the stock market or any index.

We protect you from downside risk, and you are guaranteed not to lose money due to market declines.

At the end of each crediting period, any gains are locked in.

The availability of the index options vary from state to state, so please check with your financial or insurance professional.

 

Guaranteed income under the Protection Package

If you have selected the Protection Package, you may receive scheduled income for life as Guaranteed Withdrawal Payments.

If you haven’t made excess withdrawals in any year, payments will never run out, no matter how long you live, even if your account value is depleted.

You may begin Guaranteed Withdrawal Payments any time after the first contract year, if you are at least 50 years old.

The time to start is up to you, and you may stop income payments, and restart them later.

The payment amount is determined by the Income Base of your account at the time you begin withdrawal payments.

The Income Base is different from your account value and cannot be surrendered or withdrawn.

Your Guaranteed Withdrawal Payments may increase if you become impaired to the extent you are unable to perform at least two out of six activities of daily living.

Check out a Long Term Care Annuity to supplement your long term care insurance needs.

These are defined terms and may vary from state to state.

Increased payments will continue until your account value is depleted or the impairment no longer qualifies you for the benefit.

Payments then revert to the original guaranteed income payment.

Prior withdrawals reduce guaranteed income amounts.

 

Death benefits

The Enhancement Package death benefit is always paid as a lump sum, while the Protection Package offers either a lump sum or payments over time. Prior withdrawals reduce death benefit amounts.

 

Access for unexpected health care costs

If you need home health or nursing home care, or in the event of terminal illness, you may access your account value with no surrender charges or Market Value Adjustment (MVA). The diagnosis of terminal illness, or the beginning of home health or nursing home care, must occur at least one year after the contract is issued. These are defined conditions, and this benefit may vary from state to state.

 

 

Ability to withdraw

You may withdraw your money at any time. We know you may have unexpected opportunities or expenses. You’ll have penalty-free access to 10% of the vested account value in years 2+. Any other withdrawals will incur withdrawal charges. These consist of surrender charges and MVA.

What is a Required Minimum Distribution?

An RMD is an amount that qualified plan participants must begin withdrawing at age 72. RMDs are required in order to avoid a penalty from the IRS and will be taxed as regular income. If you need to withdraw above the annual penalty-free withdrawal amount for the purpose of an RMD, F&G will waive any surrender charges and market value adjustments.

What is a Market Value Adjustment?

Any time a withdrawal incurs a surrender charge, an MVA will be made. The MVA is based on a formula that takes into account changes in the rates since the contract was issued. Generally, if rates have risen, the MVA will decrease the surrender value; if they have fallen, the MVA will increase the surrender value. The MVA does not apply in IL and MO.

 

Life Insurance Alternative

If you’re seeking to enhance a death benefit for estate planning purposes, also shop and compare life insurance quotes too.  It’s rare we don’t find a solution.  Life Insurance is tax-free for beneficiaries while annuities are tax-deferred for beneficiaries.

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Non-Qualified Annuity

Non-qualified funds are cash, checking, savings, life insurance cash value, etc. Only the interest you’ve earned will be taxed as ordinary income as you withdraw money.

Qualified Annuity

Qualified funds are 401k, IRA, SEP, 403b, TSA, etc. Both principal and interest will be taxed as ordinary income as you withdraw money.

Roth IRA Annuity

Withdrawals from Roth IRA annuities are tax-free as long as the IRS requirements are met.

Early-Withdrawals

If you withdraw money from your annuity before you turn age 59.5, you will receive a penalty of 10% plus ordinary income taxes from the IRS.

 

For more information:  How Are Annuities Taxed?

Brochures

Fidelity and Guaranty (F&G) Prosperity Elite 10 Fixed Indexed Annuity

Disclaimer*Brochures may vary by state.  For the most accurate information, please request info in the Request Quote form.

Are Annuities FDIC Insured?

Fixed annuities are not FDIC insured, but they have similar protections for your money. An annuity is an insurance policy guaranteed by the insurance company’s claims-paying ability. The insurance companies are members of the state insurance guarantee associations in each state where they do business. Each state insurance guarantee association protects consumers in the unlikely event that their insurance company fails and defaults on their obligations to their consumers (limits vary per state).

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