Fixed index annuity review and rates

Prosperity Elite 7 Protection

Prosperity Elite 7 Protection
The Prosperity Elite 7 Protection is a flexible premium deferred annuity with a 7-year surrender charge period offering multiple index options and one fixed interest rate option. It is designed to be a long-term retirement savings tool with a variety of options to help you achieve the standard of living you want during your retirement. 

The Prosperity Elite 7 Protection includes a 4% (varies by age) Premium Bonus on your initial premium which vests over a 7-year period. Bonus for Age 76+: 3%
Available in states: AL, AK, AZ, AR, CA, CO, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4% Fixed
1-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Annual
215% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate with Spread
Point to Point
Biennial
300% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Biennial
335% Participation
1-Year GS Global Factor PTP Participation Rate
Point to Point
Annual
210% Participation
2-Year GS Global Factor PTP Participation Rate with Spread
Point to Point
Biennial
290% Participation
2-Year GS Global Factor PTP Participation Rate
Point to Point
Biennial
325% Participation
1-Year Gold PTP Cap
Point to Point
Annual
7.5% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
10.25% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.85% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
9.75% Cap
2-Year Barclays Trailblazer Sectors 5 PTP Participation Rate with Spread
Point to Point
Biennial
270% Participation
1-Year S&P 500 Index Gain Option with Declared Rate
Performance Triggered
Annual
7% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 10% 9% 8% 7% 6% 5% 4%

Riders

Name Inbuilt Fee
Prosperity Elite Protection Package Yes 0.90% annually (1.00% max)
Fidelity & Guaranty Life Insurance Company
Founded: 1959
A.M. Best: A-
Fitch: A-
S&P: A-
Moody's: Baa1
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Premium bonus
4%
Surrender schedule
7 years
Return of premium
Market value adjustment
Minimum contribution
$10,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Inherited IRA, NQ Stretch, and TSP