Prosperity Elite 14 Enhancement

The Fidelity & Guaranty Life Insurance Company, also known as F&G for short, was established in 1959. Presenting a broad range of insurance solutions, which include annuities and life insurance policies, the company strives to guide its clients toward financial stability. One of F&G’s standout products is its innovative fixed-indexed annuity, which provides customers the potential for growth with downside protection in the case of market recessions.

Fidelity & Guaranty Life Insurance Company
15 customer reviews
Prosperity Elite 14 Enhancement-brochure Prosperity Elite 14 Enhancement-brochure

Prosperity Elite 14 Enhancement

Your Email

Ratings:

  • A.M. Best A
  • Fitch A-
  • S&P A-
  • Moody's A3
  • Comdex 70

About Product

Type
Fixed Index
Purpose
Accumulation & Legacy
Premium Bonus
7%
Term
14 Years
Surrender schedule
14.75%13.75%12.75%11.75%10.75%10%9%8%7%6%5%4%3%2%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No x
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, IRA-Roth, Inherited IRA, and TSP
Launch Date
04/22/2011
The Prosperity Elite 14 Enhancement is a flexible premium deferred annuity with a 14-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. 
Available in states: AZ, AR, CO, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MI, MO, NE, NH, NM, NC, ND, RI, SD, TN, VT, VA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4% Fixed
1-Year Gold PTP Cap
Point to Point
Annual
10% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
10% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.6% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.5% Cap
2-Year Barclays Trailblazer Sectors 5 PTP Participation Rate with Spread
Point to Point
Biennial
260% Participation
1-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Annual
190% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate with Spread
Point to Point
Biennial
270% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Biennial
310% Participation
1-Year GS Global Factor PTP Participation Rate
Point to Point
Annual
195% Participation
2-Year GS Global Factor PTP Participation Rate with Spread
Point to Point
Biennial
280% Participation
2-Year GS Global Factor PTP Participation Rate
Point to Point
Biennial
320% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
6.25% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Penalty 15% 14% 13% 12% 11% 10% 9% 8% 7% 6% 5% 4% 3% 2%

Riders

Name Inbuilt Fee
GMDB Prosperity Elite Enhancement Package Yes 0.60% annually

Waivers

Nursing Home

Confinement must begin at least 1 year after contract effective date. Must be confined to nursing home for at least 60 days. Home Health Care is an acceptable option.

Terminal Illness

Diagnosis must be made at least 1 year after contract effective date and certified by licensed physician. Life expectancy must be less than 1 year.

Premium Notes

Flexible Premium
Any additional premium (the amount of money you may at any time and as often as you want until the Maturity Date) must be at least $2,000 and may not exceed $1,000,000.
The minimum Allocation to any account is $2,000 per contract year.

Note: TSP funds have to be rolled into an IRA.

Withdrawal Provisions

Annuitization 
You must begin receiving annuity payments no later than the maturity date. The maturity date is fixed at contract issue and is no later than the contract anniversary following the annuitant’s (or the oldest annuitant’s if a second annuitant is named) 100th birthday. If annuity payments begin before the 5th contract anniversary, annuity payments are based on the surrender value. If annuity payments begin after the 5th contract anniversary, annuity payments are based on the greater of the account value and the MGSV. An annuity option may be changed any time before annuity payments begin.  If your annuity was issued in connection with a tax qualified plan, you may be required to take minimum distributions beginning at age 72½. 

Free Withdrawals 
Each contract year, after the end of the first contract year, free partial surrender of up to 10% of the vested account value as of the prior anniversary. 

Other F&G Products

You might also be interested in

James Alden Experienced Financial Advisor
25 years experience
3,712 career consultations
4 slots free for today
scheduling.
Your Name
Your Phone
Thank you for your trust! I have received your contact information. Please wait for a call within 30 minutes. 😌