DES MOINES, Iowa, March 17, 2014 /PRNewswire/ -- Fidelity
& Guaranty Life Insurance Company, a subsidiary of Fidelity
& Guaranty Life (NYSE: FGL) and leading provider of fixed
indexed annuity (FIA) and fixed indexed universal life products,
today announced the launch of Performance Pro, an innovative FIA
offering.
Performance Pro provides the potential for higher accumulation
and/or income during retirement, helping retirees meet their
financial obligations in an uncertain market environment.
Performance Pro offers a range of the most popular FIA
interest crediting options which gives consumers more choices
and flexibility. It also has a 10% vesting premium
bonus (5% for ages 76+), a performance driven income base,
strong illustrated income, and enhanced income for
impairment.
Performance Pro's five year spread interest
crediting option is tied to a volatility controlled
index. For the first time and in conjunction with the
launch of Performance Pro, FGL is pleased to provide FIAs with an
index crediting option tied to the Dow Jones US Real Estate
Index, with 10% volatility controlled index. By using a
volatility controlled index, FGL can offer uncapped accumulation
options within FIAs, limiting both upside and downside swings in
the index.
Brian Grigg, Vice President of
Annuity Distribution at FGL, said, "At FGL, our focus is to deliver
value choices to the consumer and we notice the importance of
providing the consumer with new and differentiated product
offerings. With 10% volatility control, the Dow Jones US Real
Estate Index delivers an opportunity for higher interest over time
and makes Performance Pro a unique alternative to the performance
of traditional FIAs.
Mr. Grigg continued, "The market is currently offering several
approaches to driving income for FIAs. With Performance Pro,
Guaranteed Minimum Withdrawal Benefit (GMWB) income is driven by a
combination of guarantees and performance tied to the interest
crediting options. Further, performance within the index
crediting methods can drive lifetime income to values beyond
conventional guaranteed approaches, which may provide greater
financial flexibility."
Performance Pro is available for sale immediately.
About Fidelity & Guaranty Life
Fidelity & Guaranty Life is a primary life insurance and
fixed annuity company, with a focus on serving the middle-income
market. Fidelity & Guaranty Life's products are
distributed by independent agents through an established network of
independent marketing organizations. We are headquartered in
Des Moines, Iowa.
Subject to state availability. Certain restrictions
apply. Optional provisions and riders may have limitations,
restrictions and additional charges.
The "DJ U.S. Real Estate Daily Risk Control 10% USD Total Return
Index" is a product of S&P Dow Jones Indices LLC or its
affiliates ("SPDJI") and has been licensed for use by Fidelity
& Guaranty Life Insurance Company. Standard & Poor's(r) and
S&P(r) are registered trademarks of Standard & Poor's
Financial Services LLC ("S&P"); Dow Jones(r) is a registered
trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and
these trademarks have been licensed for use by SPDJI and
sublicensed for certain purposes by Fidelity & Guaranty Life.
This annuity is not sponsored, endorsed, sold or promoted by SPDJI,
Dow Jones, S&P, their respective affiliates, and none of such
parties make any representation regarding the advisability of
investing in such product(s) nor do they have any liability for any
errors, omissions, or interruptions of the DJ U.S. Real Estate
Daily Risk Control 10% USD Total Return Index.
"FGL" refers to Fidelity & Guaranty Life, the marketing name
for Fidelity & Guaranty Life Insurance Company issuing
insurance in the United States
outside of New York and, in
New York only, Fidelity &
Guaranty Life Insurance Company of New York. Each Fidelity
& Guaranty Life Company is solely responsible for its
contractual commitments.
Contact:
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Fidelity &
Guaranty Life
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Paul Tyler
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410-895-0130
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paul.tyler@fglife.com
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#ownyourfuture
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SOURCE Fidelity & Guaranty Life