Prosperity Elite 7 Enhancement

Fidelity & Guaranty Life Insurance Company
Prosperity Elite 7 Enhancement-brochure Prosperity Elite 7 Enhancement-brochure

Prosperity Elite 7 Enhancement

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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
4%
Term
7 Years
Surrender schedule
10%9%8%7%6%5%4%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No
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, SEP IRA, IRA-Roth, 1035 Exchange, Inherited IRA, and TSP
Launch Date
04/22/2011
The Prosperity Elite 7 Enhancement 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.

Additionally a Guaranteed Minimum Death Benefit Rider is included.
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 Gold PTP Cap
Point to Point
Annual
9.5% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
9.5% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.4% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
8% Cap
2-Year Barclays Trailblazer Sectors 5 PTP Participation Rate with Spread
Point to Point
Biennial
250% Participation
2-Year GS Global Factor PTP Participation Rate
Point to Point
Biennial
310% Participation
2-Year GS Global Factor PTP Participation Rate with Spread
Point to Point
Biennial
270% Participation
1-Year GS Global Factor PTP Participation Rate
Point to Point
Annual
185% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Biennial
295% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate with Spread
Point to Point
Biennial
255% Participation
1-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Annual
180% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
5.75% Performance triggered

Surrender schedule

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

Riders

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

Waivers

Nursing Home

Unavailable in states: MA, and SD

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.

ADL

Unavailable in states: FL, MA, SD, and WI

Care must begin at least 1 year after contract effective date. Must be unable to perform at least 2 of 6 activities of daily living (for at least 60 days and expected to continue for at least 90 days after requesting withdrawal).

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

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. 

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