Safe Income Advantage

Fidelity & Guaranty Life Insurance Company
Safe Income Advantage-brochure Safe Income Advantage-brochure

Safe Income Advantage

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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
Lifetime Income
Term
10 Years
Surrender schedule
12%11%10%9%8%7%6%5%4%3%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$2,000,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, 1035 Exchange, Inherited IRA, and TSP
Launch Date
07/21/2021
Safe Income Advantage is a Flexible Premium Fixed Indexed Deferred Annuity. This policy includes an Enhanced Guaranteed Minimum Withdrawal Benefit Rider. The included EGMWB Rider could benefit customers who wish to trigger a lifetime withdrawal feature. You may deposit premium at any time prior to the Maturity Date and before electing to begin the Withdrawal Period under the EGMWB Rider.

Eligible ages
Non-qualified: 0-80
Qualified: 18-80 
If joint owner, eligibility is based on older owner’s age 
Available in states: AL, AK, AZ, AR, CA, CO, CT, 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, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
2.5% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
2.5% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1% Cap
1-Year CIBC Balanced Asset 5 PTP Participation Rate with Spread
Point to Point
Annual
75% Participation
1% Spread
1-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Annual
120% Participation
2-Year CIBC Balanced Asset 5 PTP Participation Rate with Spread
Point to Point
Biennial
100% Participation
1% Spread
2-Year CIBC Balanced Asset 5 PTP Participation Rate
Point to Point
Biennial
125% Participation
1-Year BlackRock Market Advantage PTP Participation Rate with Spread
Point to Point
Annual
50% Participation
2-Year BlackRock Market Advantage PTP Participation Rate with Spread
Point to Point
Biennial
70% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
2.25% Performance triggered

Surrender schedule

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

Riders

Name Inbuilt Fee
Safe Income Advantage: EGMWB Level Yes 1.15% annually (1.50% max)
Safe Income Advantage: EGMWB Increasing Yes 1.15% annually (1.50% max)
Safe Income Advantage: EGMWB Inflation-Adjusted Yes 1.15% annually (1.50% max)

Waivers

Nursing Home

Unavailable in states: MA

Nursing Home Care (in a licensed nursing home): access to account value with no surrender charge or MVA -Confinement must begin at least 1 year after policy effective date (In AK, AL, CT, ID, MN, MS, MT, OR, PA or WA, confinement must begin after the contract effective date.) -Must be confined to nursing home for at least 60 days

Terminal Illness

Terminal Illness: access to account value with no surrender charge or MVA -Diagnosis must be made at least 1 year after policy effective date and certified by licensed physician -Life expectancy must be less than 1 year

ADL

Unavailable in states: MA

Home Health Care (provided by licensed home health care provider): access to account value with no surrender charge or MVA -Care must begin at least 1 year after policy effective date (In AK, AL, CT, ID, MN, MS, MT, OR, PA or WA, care must begin after the 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

Your initial premium (the amount of money you initially pay) must be at least $10,000. 
Any additional premium (the amount of money you may add at any time and as often as you want until the Maturity Date) must be at least $2,000 and may not exceed $2,000,000. 
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
You may withdraw your money at any time. You’ll have penalty-free access to 10% of the total account value in years 2 through the end of the surrender period. Any withdrawals over this amount will incur surrender charges and MVA. 

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