Dear Financial & Insurance Professional, 

Rate Adjustments for MYGAs and Select FIA Strategies Effective March 8

Due to current economic volatility and challenging market momentum, we're adjusting rates for MYGAs and select FIA index crediting strategies effective March 8, 2020. As a reminder, our special compensation for F&G Power Accumulator® 7 & 10 has also ended.

What's changing:

  • Interest rates for FG Guarantee Platinum® 3, 5 & 7 single premium deferred annuities are decreasing
  • Index crediting strategies for FIAs are decreasing

What's staying the same: 

  • Barclays Trailblazer Sectors 5 Index crediting strategies
  • F&G Power Accumulator 7 & 10 index crediting strategies including the Balanced Asset 10 Index™

What do I need to know:

  • For applications we receive before March 8, we will issue the policy with the current rates.
  • For applications we receive on or after March 8, we will issue the policy with the new rates. 
  • Standard rate lock rules will apply except for cash with application FIAs and MYGAs. Please refer to our rate lock procedures

We want you to know that we're taking a selective and measured approach to these changes while doing our best to provide sustainable client value. We'll continue to monitor the economic environment and adjust as conditions require.

As always, thank you for your business, partnership and support. Click below to download our updated rate package or contact us with questions. 

 

DOWNLOAD RATES

For producers only. Not for use with the general public.

Form Numbers: API-1018 (06-11), ACI-1018 (06-11), FGL SPDA-MY-F-C (6-04), FGL SPDA-MY-F (07-04), ICC14-1095 (06-14); et al. Form number and availability varies by state.

Barclays Bank PLC and its affiliates (“Barclays”) is not the issuer or producer of Fixed Indexed Annuities and Barclays has no responsibilities, obligations or duties to contract owners of Fixed Indexed Annuities. The Index is a trademark owned by Barclays Bank PLC and licensed for use by Fidelity & Guaranty Life Insurance Company as the Issuer of Fixed Indexed Annuities. Fidelity & Guaranty Life Insurance Company as Issuer of Fixed Annuities may for itself execute transaction(s) with Barclays in or relating to the Index in connection with Fixed Indexed Annuities. Contract owners acquire Fixed Indexed Annuities from Fidelity & Guaranty Life Insurance Company and contract owners neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in Fixed Indexed Annuities. The Fixed Indexed Annuities are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the Fixed Indexed Annuities or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, contract owners or to other third parties in respect of the use or accuracy of the Index or any data included therein.

The Balanced Asset 10 Index™ (the “Index”) is the exclusive property of Canadian Imperial Bank of Commerce (Canadian Imperial Bank of Commerce, together with its affiliates, “CIBC”). CIBC has engaged Bloomberg Index Services Limited (“BISL”) to maintain and to make certain calculations related to the Index. “Canadian Imperial Bank of Commerce”, “CIBC” and “Index” (collectively, the “CIBC Marks”) are trademarks or service marks of CIBC. CIBC has licensed use of the Index and the CIBC Marks to Fidelity and Guaranty Life Insurance Company (“F&G”) for use in one or more fixed indexed annuities offered by F&G (the “Product(s)”). CIBC is not the issuer of the Products and its sole contractual relationship with F&G is to license the Index and the CIBC Marks to F&G. CIBC developed the Index without considering the needs of F&G or any annuitant. CIBC makes no representation or warranty, express or implied, regarding the Index or its development and has no responsibilities, obligations or liabilities with respect to the inception, adjustment, maintenance, operation or calculation of the Index. For more information on the Balanced Asset 10 index, see indices.cibccm.com/CIBQB10E/.

None of CIBC, BISL or any other third-party licensor (collectively, the “Index Parties”) to CIBC is acting, or has been authorized to act, as an agent of F&G or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any Products or provided investment advice to F&G. No Index Party is a fiduciary or agent of any purchaser, seller or holder of any Product, or has made any representation or warranty, express or implied, regarding the advisability of purchasing, selling or holding any Product or the ability of the Index to track corresponding or relative market performance. Purchasers of any Product neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with any of the Index Parties. No Index Party guarantees the timeliness, accurateness, or completeness of the Index or any data or information relating thereto and shall have no liability in connection with the Index or any data or information relating thereto. No Index Party shall have any liability with respect to any Product, nor any liability for any loss relating to any Product, whether arising directly or indirectly from the use of the Index, its methodology, or otherwise. The selection of the Index as a crediting option under any Product does not obligate F&G to invest annuity premiums in the components of the Index. Any obligation to invest annuity premiums received under the Products are determined solely by F&G.

BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. (collectively with BISL and their other affiliates, “Bloomberg”). Bloomberg is not affiliated with F&G or CIBC. Bloomberg’s association with CIBC is limited to BISL’s role to act as the administrator and calculation agent of the Index, which is the property of CIBC. Bloomberg does not guarantee the timeliness, accurateness, or completeness of the Index or any data or information relating thereto and shall have no liability in connection with the Index or any data or information relating thereto.

In calculating the level of the Index, the index methodology deducts a maintenance fee of 0.85% per year, calculated daily. This fee will reduce the level of the Index and thus the amount of interest, if any, that will be credited to any Product. Furthermore, while the volatility control applied by CIBC as part of the index methodology may result in less fluctuation in rates of return as compared to indices without volatility controls, it may also reduce the overall rate of return for products referencing the Index as compared to other indices not subject to volatility controls.

"F&G" is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.

20-0252

F&G

Two Ruan Center, 601 Locust Street, 14th Floor
Des Moines, IA 50309

800.445.6758
salesdesk@fglife.com

fglife.com

        

Fidelity & Guaranty Life Insurance Company  Two Ruan Center, 601 Locust Street, 14th Floor   Des Moines, IA  50309

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