4
Annuity.org Star Rating
F&G
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Our Take
Whether you’re looking at company size or customer satisfaction, F&G is a leader in the annuity space. The company, which ranked No. 1 in the 2023 J.D. Power Overall Customer Satisfaction Index, sells fixed index annuities, MYGAs and immediate products.
Pros
- Industry leader in customer satisfaction
- Great variety of fixed index offerings
Cons
- Confusing online information about products available
Current Rates from F&G
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Source: Cannex, May. 17, 2024
Annuity.org synchronizes and updates annuity products and interest rates multiple times each week from Cannex data.
| Product | Rate | Guarantee Period | Surrender Period | AM Best Rating |
|---|---|---|---|---|
 FG Guarantee-Platinum Guarantee: 5 Years | 5.50% | 5 Years | 5 Years | A |
FG Guarantee-Platinum Guarantee: 7 Years | 5.50% | 7 Years | 7 Years | A |
FG Guarantee-Platinum Guarantee: 3 Years | 5.30% | 3 Years | 3 Years | A |
F&G Secure MYGA® Guarantee: 5 Years | 5.25% | 5 Years | 5 Years | A |
F&G Secure MYGA® MVA Guarantee: 5 Years | 5.25% | 5 Years | 5 Years | A |
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Products Offered by F&G
F&G sells a wide mix of annuity products, which is unsurprising for a provider of its size. While the company advertises fixed annuities and immediate annuities, fixed index annuities appear to be where it shines the most.
Fixed Index Annuities
F&G advertises seven different fixed index products. They vary heavily, offering access to different indexes, crediting strategies, waivers and bonuses.
The high number of products available gives you a good chance of finding one that can be customized to your liking. All the annuities offered include some common features, such as nursing home and terminal illness waivers along with the ability to withdraw up to 10% of your contract value after the first year.
F&G’s Fixed Index Annuities
- F&G Safe Income Advantage
- Performance Pro
- F&G Power Accumulator
- Accelerator Plus
- F&G AccumulatorPlus
- F&G Flex Accumulator
- Prosperity Elite
One of the company’s base products is the F&G Safe Income Advantage® fixed index annuity. It offers access to three different indexes, with 10 different strategies available across those indexes.
The surrender period lasts 10 years, and you will have three different payout options: level payments for life, payments that increase by a set amount or payments that increase based on an inflation index.
Some of F&G’s annuities offer access to a wider range of strategies. The F&G Power Accumulator®, for example, advertises seven different index options that include access to three different ETFs.
Premium bonuses are also available through some of F&G’s products. The Performance Pro® offers premium bonuses ranging from 6% to 15% depending on your age and the state that you live in.
The Accelerator Plus® and Prosperity Elite® offer premium bonus features as well.
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About F&G
F&G has a long history in the life insurance and annuity industry, originally opening its doors in Des Moines in 1959. It began selling fixed index annuities in 1998.
You may know the company by its former name, Fidelity & Guaranty. It rebranded to its current identity in 2019.
With over $8 billion in direct premiums sold in 2022, it is a behemoth in the annuity industry. Few competitors sell more to customers than F&G.
The company recently changed ownership when it was purchased by Fidelity National Financial in 2020 for $2.7 billion.
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Credit Ratings
Credit ratings for annuity providers can help determine a company’s financial strength and stability — an indication that it will be around to guarantee payments to you in the future. Different rating companies use different scales.
F&G’s Credit Ratings
| Rating Company | Credit Rating |
| AM Best | A- |
| Fitch | A- |
| S&P | A- |
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What Customers Are Saying About F&G
Keeping customers happy can be hard for any financial institution, but particularly for those as wide-spanning as F&G.
But the company does an admirable job in that area. F&G ranked atop the 2023 J.D. Power Overall Customer Satisfaction Index Ranking by a sizable margin, dwarfing many other providers. It achieved the second-highest rating in the 2022 report.
Such high customer satisfaction scores, along with its impressive array of products, can make it a desirable option for many potential buyers. One agent that Annuity.org spoke to specifically shouted out F&G’s accumulation products, along with their financial stability and track record of success.
The company also holds a respectable NAIC Complaint Index Score of 1.04, meaning there are not many more complaints than expected against the company given its size.
The National Association of Insurance Commissioners (NAIC) tracks consumer complaints each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint Index.NAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market.
NAIC Complaint Index for F&G
| All Policy Types | 0.07 |
| Individual Annuities Only | 1.04 |
F&G Pros & Cons
The biggest pro of buying an annuity from F&G is its stellar customer satisfaction scores. This is unsurprisingly a major point of concern for many people considering a purchase as significant as an annuity, and it’s an area where F&G thrives.
Another pro is its diverse fixed index offerings. The company advertises many great products, with different versions catered to different types of customer needs.
Whether you are interested in accumulation, a variety of index options or a more simple product, F&G likely has an annuity that can help.
The only major drawback is the public information about some of the company’s products. F&G doesn’t do the best job of making all its product offerings available, and this can pose some difficulties if you aren’t already working with an agent.
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Provider Rating Methodology
Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the number of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.
Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.
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Our Rating Panel
The Annuity.org editorial team spoke with several different annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.
