Fidelity & Guaranty Life Launches Uncapped FIA Index Option

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.

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SOURCE Fidelity & Guaranty Life