DES MOINES, Iowa, July 27, 2015 /PRNewswire/ -- Fidelity &
Guaranty Life, a leading provider of fixed indexed annuities (FIA)
and fixed indexed universal life products, today announced the
launch of FG Retirement Pro, an innovative annuity offering that is
designed to provide income payments for retirees.
The company designed this unique product to offer protection in
retirement by potentially growing the benefit base through indexed
interest credits, rather than the account value. The account value
then grows by an annually declared fixed interest rate. This
Guaranteed Minimum Withdrawal Benefit (GMWB) feature has no
explicit fee. FG Retirement Pro offers a vesting premium bonus and
a range of the most popular indexed interest crediting options on
the benefit base.
Brian Grigg, Vice President of
Annuity Distribution at FGL said, "The design of FG Retirement Pro
puts strong indexing opportunity into the income feature. Its
innovation lies in its income potential. Any agent who has
sold indexed annuities clearly understands the upside potential of
index credits tied to a well-known index, such as the S&P
500®. FG Retirement Pro takes it to the next level and builds
a benefit base on indexing. And, the caps have the potential
to be very strong."
He added, "The competitive arena for FIAs for many years now has
been with income. Early versions provided a fixed roll-up
rate as a way to grow a benefit base. FG Retirement Pro
combines the fixed rate with the potential of a higher overall
roll-up rate through indexed interest credits to the benefit
base."
Mr. Grigg continued, "We're excited to be adding another annuity
to our product portfolio. At FGL, we currently offer three distinct
approaches to building a benefit base to determine lifetime income
with our existing product portfolio. Now with FG Retirement Pro,
we're offering a product that emphasizes the performance of index
crediting. It's simple for agents to explain our products and allow
the client to pick what is comfortable for them."
FG Retirement Pro is available for sale immediately.
About Fidelity & Guaranty Life
Fidelity & Guaranty Life, an insurance holding company,
helps middle-income Americans prepare for retirement. Through its
subsidiaries, the company offers fixed annuity and life insurance
products distributed by independent agents through an established
network of independent marketing organizations. Fidelity
& Guaranty Life, headquartered in Des
Moines, Iowa, trades on the New York Stock Exchange under
the ticker symbol FGL. For more information, please visit
www.fglife.com.
Contact:
Fidelity & Guaranty Life
Paul Tyler
Senior Vice President, Strategy
410-895-0130
paul.tyler@fglife.com
#ownyourfuture
Form Number: API-1074(01-15); et al. Form number and
availability may vary by state.
Fidelity & Guaranty Life is the marketing name for Fidelity
& Guaranty Life Insurance Company issuing insurance in
the United States outside of
New York. Annuities issued by
Fidelity & Guaranty Life Insurance Company, Des Moines, IA
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SOURCE Fidelity & Guaranty Life