Fidelity & Guaranty Life Launches Income And WealthBuilder

PR Newswire Association LLC

DES MOINES, Iowa, Sept. 3, 2014 /PRNewswire/ -- Fidelity & Guaranty Life Insurance Company, a subsidiary of Fidelity & Guaranty Life (NYSE: FGL) and leading provider of fixed indexed annuity (FIA) and fixed indexed universal life products, today announced the launch of Income and WealthBuilder, a new annuity product.

The Company designed Income and WealthBuilder to meet the needs of today's retirement savers by providing accumulation and income benefits. The product offers both a 7-year and 10-year surrender schedule option for maximum flexibility. FGL is proud to introduce this innovative product, which features five interest crediting options which provide retirees with a variety of options for interest crediting potential.

"Pre-retirees and retirees remain a growing segment of the United States population and continue to drive the need for safe accumulation and income guarantees, among other important features that FIAs offer," said Brian Grigg, Vice President of Annuity Distribution at FGL. "We're anticipating strong sales for this important new product."

Income and WealthBuilder offers an optional Guaranteed Minimum Withdrawal Benefit Rider (GMWB) that allows the owner to receive the larger of premiums paid in the first contract year accumulating based on a 7.2% compounding roll-up rate or the initial premium plus an 18% income base bonus credited to the client's income benefit value. These features are designed to meet the needs of annuity policyholders seeking both accumulation and income in the near future.

Income and WealthBuilder is available for sale immediately.

About Fidelity & Guaranty Life

Fidelity & Guaranty Life is the parent company of Fidelity & Guaranty Life Insurance Company, a life insurance company with insurance products focused on serving the middle-income market. Fidelity & Guaranty Life Insurance Company does business in the US outside of New York and, in New York only, Fidelity & Guaranty Life does business through Fidelity & Guaranty Life Insurance Company of New York. Fidelity & Guaranty Life's products are distributed by independent agents through an established network of independent marketing organizations. We are headquartered in Des Moines, Iowa.

Subject to state availability. Certain restrictions apply. Optional provisions and riders may have limitations, restrictions and additional charges.

"FGL" refers to Fidelity & Guaranty Life, the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York and, in New York only, Fidelity & Guaranty Life Insurance Company of New York. Each Fidelity & Guaranty Life Company is solely responsible for its contractual commitments.