• Written By
    Jennifer Schell

    Jennifer Schell

    Financial Writer

    Jennifer Schell is a professional writer focused on demystifying annuities and other financial topics including banking, financial advising and insurance. She is proud to be a member of the National Association for Fixed Annuities (NAFA) as well as the National Association of Insurance and Financial Advisors (NAIFA).

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  • Edited By
    Savannah Pittle
    Savannah Pittle, senior financial editor for Annuity.org

    Savannah Pittle

    Senior Financial Editor

    Savannah Pittle is an accomplished writer, editor and content marketer. She joined Annuity.org as a financial editor in 2021 and uses her passion for educating readers on complex topics to guide visitors toward the path of financial literacy.

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  • Financially Reviewed By
    Thomas J. Brock, CFA®, CPA
    headshot of Thomas J. Brock, CFA, CPA

    Thomas J. Brock, CFA®, CPA

    Investment, Corporate Finance and Accounting Expert

    Thomas Brock, CFA®, CPA, is a financial professional with over 20 years of experience in investments, corporate finance and accounting. He currently oversees the investment operation for a $4 billion super-regional insurance carrier.

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  • Updated: July 4, 2023
  • 7 min read time
  • This page features 6 Cited Research Articles
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Key Takeaways

  • Fidelity & Guaranty is a life insurance company founded in 1956 that has sold annuities since 1998.
  • F&G sells three types of annuities: immediate annuities, fixed index annuities and multi-year guaranteed annuities.
  • The company has strong financial strength ratings from reputable credit agencies, but has a number of negative online reviews from customers.

About Fidelity & Guaranty

Fidelity & Guaranty Life Insurance Company (F&G) was founded in 1959. F&G began by selling traditional term life insurance policies and eventually expanded to offer annuities in 1998.

In 2020, F&G became a subsidiary of Fidelity National Financial, Inc., a Fortune 500® company that sells title insurance and settlement services in the real estate and mortgage industries. Today, F&G offers life insurance and annuity products that have protected over 700,000 people nationwide.


Current F&G annuity policyholders can call the company’s customer service department with any questions about their annuity contracts: 888-513-8797

Credit Ratings

Before purchasing an annuity, it’s important to check the financial strength ratings of the annuity provider you’re considering. These scores, also called credit ratings, are issued by independent agencies aiming to help consumers determine the health of an insurance company before investing with them. Since each score is a testament to the financial stability of the company, you want to look for a provider that holds high ratings.

F&G has received strong financial strength ratings from all four of the major credit rating agencies. These ratings characterize the company as having strong financial stability and a reasonable expectation of meeting its ongoing insurance obligations.

Fidelity & Guaranty Credit Ratings

Credit Agency


AM Best






Standard & Poor’s


Source: Fidelity & Guaranty

Reviews and Complaints

When selecting an annuity provider, it’s important to do your research and find out what other customers have experienced with the company. You can check sites like the Better Business Bureau (BBB) or the National Association of Insurance Commissioners (NAIC) to find reviews and complaints from customers.

The NAIC’s Complaint Index is a useful tool for understanding the customer service reputation of an insurance company. F&G has a score of 0.15 on the Complaint Index for 2021. This rating reflects a below-average number of complaints filed against the company.

According to the BBB, F&G holds an A+ rating and is an accredited business. However, the company also has a 1.27 rating out of 5 for customer reviews. F&G had 22 complaints filed with the BBB in 2022, and the company’s BBB profile contains a number of negative reviews from customers.

Annuities Offered by Fidelity & Guaranty

F&G’s offerings include three types of annuity products: immediate annuities, fixed index annuities and multi-year guaranteed annuities.

Immediate Annuities

An immediate annuity differs from other types of annuities in that it does not have an accumulation period. As soon as you pay the premium to purchase the annuity, that money is converted into a stream of income payments that can be paid out immediately.

F&G offers a single premium immediate annuity (SPIA) named the FG Immediate-Income® annuity. When purchasing this product, annuity holders have six options for receiving their income payments. Holders can choose to receive guaranteed income payments for a fixed period or for life. They can also choose another annuitant to receive payments at the same time as the annuity holder or after the holder’s death.

Fixed Index Annuities

Customers who want greater returns on their savings over time might prefer one of F&G’s fixed index annuities (FIAs). These annuities earn a fixed minimum interest rate, plus additional interest based on the growth of an equity market index the contract is tied to.

F&G’s fixed index annuities offer downside protection along with growth potential, so your money can benefit from strong market growth while simultaneously being protected from market losses.

FIA holders have the option to purchase an additional feature called a Guaranteed Minimum Withdrawal Benefit (GMWB) rider. The GMWB allows you to withdraw a certain percentage of your contract’s value each year no matter how the index your annuity is tied to performs that year. Purchasing this rider can help mitigate some of the risks associated with the FIA product.

Multi-Year Guaranteed Annuities

A multi-year guaranteed annuity (MYGA) is a type of fixed annuity that accumulates interest at a fixed rate for a certain number of years. For investors looking for a more conservative way to grow savings for retirement, F&G offers a MYGA under the FG Guarantee-Platinum® Series.

The FG Guarantee-Platinum® Series offers three annuity options with varying interest rate guarantee periods: three years, five years and seven years. The longer the guarantee period is, the higher your interest rate for that period will be. When the guarantee period is up, you can either renew your contract for the same period length or withdraw your money penalty-free within 30 days of the end of the guarantee period.

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Annuity Riders Offered by Fidelity & Guaranty

When purchasing an annuity, you’ll have the option to add riders, or additional contract provisions designed to provide specific benefits. The riders usually come at an extra cost, but you can use them to customize your contract so that your annuity is more suited to your needs.

F&G offers several annuity riders to help customers make the most of their annuity contract. These riders provide ways for the annuity owner to withdraw funds from their annuity for free if they meet certain conditions.

For example, F&G’s Terminal Illness Rider allows the annuity owner or annuitant to withdraw all or part of their account value if they contract an illness or physical condition that results in having a life expectancy of 12 months or less.

The Nursing Home Rider provides a similar allowance if the owner or annuitant is confined to a nursing home at least one year after the annuity was issued. F&G’s Home Health Care Rider allows for free withdrawals for annuitants with an impairment that requires them to use home health services.

Some F&G annuities, such as the F&G Retirement Pro, come with an Alternative Death Benefit rider free of charge. This provision offers an enhanced death benefit after the contract’s first year while it is still in the accumulation phase.

Pros and Cons of Annuities Offered by Fidelity & Guaranty

Fidelity & Guaranty offers a variety of annuity products to choose from, but this provider might not be right for everyone. When choosing an annuity provider, consider the benefits and drawbacks of its offerings.

F&G Pros and Cons


  • Strong financial strength ratings
  • Some annuities have an enhanced death benefit included
  • Immediate annuity has a lot of payout options
  • Variety of MYGA terms and rates to choose from


  • Poor customer service reviews
  • No variable annuity offerings
  • MYGA rates may not be able to keep pace with inflation

Fidelity & Guaranty Withdrawal Policy

Fidelity & Guaranty charges surrender fees for withdrawing more than 10% of the annuity contract early. There are some exceptions, such as the previously mentioned riders for terminal illness, nursing homes or home health care.

To withdraw from an F&G annuity, you must fill out a form that corresponds with the type of annuity you own. These withdrawal forms are available for download from F&G’s website. Once you complete the form and submit it, F&G will process the request within 15 business days.

Client Resources

F&G customers can sign up for an e-newsletter that covers important news related to the company’s life insurance and annuity products. Policyholders can also find answers to frequently asked questions on the company’s website.

F&G policyholders can download relevant life insurance and annuity forms online, including forms to:

  • Change the policy’s beneficiary
  • Change the policyholder’s address or name
  • Request a duplicate contract or policy
  • Transfer ownership
  • Withdraw from an annuity contract

Source: F&G Life


If you have an annuity with Fidelity & Guaranty, you can log into your account at:

Fidelity & Guaranty’s Policyholder Login Page

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Last Modified: July 4, 2023