Company Snapshot: Not Fidelity Investments — A Different Company Entirely
Before anything else, this page should resolve the single most common point of confusion about this carrier: F&G is not affiliated with Fidelity Investments, the large Boston-based investment management firm. F&G — formerly known as Fidelity & Guaranty Life — is a completely separate company with no corporate relationship to Fidelity Investments. The similar names are a coincidence of history, not a shared ownership structure, and this page should state that plainly rather than assume visitors already know it.
F&G was founded in 1959 and is headquartered in Des Moines, Iowa. The company re-listed on the NYSE in 2022 under the ticker FG. Publicly available 2026 third-party sources cite an A (Excellent) rating from AM Best, with somewhat lower marks from S&P and Fitch than some larger competitors on this site, such as Nationwide or Pacific Life. Current ratings should be verified directly with each agency and with F&G before this page is published, since ratings and outlooks can change.
Ownership vs. Investment Management: FNF and Blackstone
A second, related point of confusion worth clarifying is who actually owns and manages F&G, since two different companies are often mentioned in the same breath for two different reasons:
- Fidelity National Financial (FNF) is F&G’s controlling parent company. FNF is a Fortune 500 title insurance company — itself unrelated to Fidelity Investments — which acquired a majority stake in F&G in 2020.
- Blackstone serves as an investment manager for a large share of F&G’s general-account assets. This is an asset-management relationship, not an ownership stake — Blackstone does not own F&G.
Getting this distinction right matters because F&G’s ability to offer competitive rates is often attributed in press coverage to this investment-management partnership, separate from the ownership question. Consumers researching “who owns F&G” should come away from this page knowing that FNF is the owner and Blackstone is an investment partner, not the reverse.
The F&G Product Family
| Product | Product Type | Key Structure | What It’s Designed For |
|---|---|---|---|
| Guarantee-Platinum | Multi-year guaranteed annuity (MYGA) | Available in terms from 3 to 10 years, with a 30-day penalty-free withdrawal window at the end of each guarantee period; consistently ranks among the more competitive fixed-rate annuities in third-party rate comparisons. | Conservative savers who want guaranteed-rate accumulation and are comparison-shopping MYGA rates across carriers. |
| Heritage+ | Multi-year guaranteed annuity (MYGA) | A second MYGA line alongside Guarantee-Platinum, offering fixed-rate guarantee periods. | Savers comparing F&G’s MYGA options against its flagship Guarantee-Platinum series. |
| Prosperity Elite | Fixed indexed annuity (bonus/income-focused) | Premium bonus features paired with index-linked growth potential and income planning options. | Consumers who want an upfront bonus alongside growth potential and future income flexibility. |
| Accelerator Plus | Fixed indexed annuity (bonus/income-focused) | Bonus and flexibility features with optional riders, including an Enhanced Guaranteed Minimum Death Benefit rider available for an additional cost. | Consumers who want balanced growth with bonus features and legacy-planning options. |
| Power Accumulator | Fixed indexed annuity (accumulation-focuse | Multiple growth strategies with downside protection from market losses; no built-in income rider. | Consumers prioritizing accumulation and growth potential over a built-in income feature. |
| SecureBuilder | Fixed indexed annuity (accumulation-focused) | Accumulation-focused crediting strategies with principal protection. | Savers comparing straightforward accumulation-focused FIA structures. |
| Safe Income Advantage | Fixed indexed annuity with income rider | Built around guaranteed lifetime income with the ability to adjust for inflation. | Retirees who want lifetime income with some inflation-adjustment flexibility built into the contract. |
| Performance Pro | Fixed indexed annuity | Provides an upfront boost to account value at issue. | Consumers who want an immediate account value increase alongside index-linked growth potential. |
Product availability, bonus percentages, crediting strategies, and state approvals vary by product and change over time. This table should be checked against current F&G product brochures and state approval lists before the page goes live.
A Rate Leader: Guarantee-Platinum MYGA
F&G’s flagship MYGA, Guarantee-Platinum, is worth calling out specifically because third-party rate aggregators consistently place it among the top few MYGA rates in the market across most terms — commonly cited as running 0.10 to 0.30 percentage points above what several other A-rated carriers offer for the same term. This rate positioning is one of the clearest, most verifiable reasons a rate-sensitive consumer might specifically shortlist F&G, separate from any bonus or rider features on its indexed products.
Because MYGA rates change frequently, any specific rate comparison published on this page should be sourced from a live rate feed or refreshed regularly, rather than a static figure that can go stale within weeks.
Which Product Fits Your Goal?
| If the Goal Is… | Consider Comparing… | Because |
|---|---|---|
| The most competitive simple guaranteed rate | Guarantee-Platinum (MYGA) | Consistently ranks among the top MYGA rates in third-party comparisons, with terms from 3 to 10 years. |
| An upfront bonus with income flexibility | Prosperity Elite or Accelerator Plus | Both combine premium bonus features with index-linked growth and income planning options. |
| Pure accumulation without an income rider | Power Accumulator or SecureBuilder | No built-in income rider, focused instead on growth potential and principal protection. |
| Guaranteed lifetime income with inflation flexibility | Safe Income Advantage | Built around lifetime income with the ability to adjust for inflation. |
| An immediate account value boost at issue | Performance Pro | Provides an upfront increase to account value alongside index-linked growth potential. |
Benefits to Consider
- Guarantee-Platinum’s consistent positioning among the most competitive MYGA rates in the market, useful for rate-sensitive comparison shoppers.
- A broad fixed indexed annuity lineup spanning bonus/income-focused products (Prosperity Elite, Accelerator Plus) and accumulation-focused products (Power Accumulator, SecureBuilder) under one carrier.
- Safe Income Advantage’s inflation-adjustment flexibility, a feature not every competing income rider offers.
- A large policyholder base — F&G reports having served over 1,000,000 people — indicating substantial scale in the independent-agent annuity channel.
- An investment-management partnership with Blackstone that is frequently cited as supporting F&G’s ability to offer competitive rates.
- Products available in every state except New York (served through a separate New York subsidiary), plus D.C. and Puerto Rico.
As with any carrier, a feature is only a benefit if it matches the consumer’s actual goal. A competitive MYGA rate on Guarantee-Platinum is most valuable to someone prioritizing simple guaranteed growth; it says little about the rider terms or bonus structure on F&G’s separate indexed-annuity products, which should be evaluated independently.
Risks and Limitations
- F&G’s ratings from S&P and Fitch are generally reported as somewhat lower than larger competitors such as Nationwide or Pacific Life, even though its AM Best rating is solid — a trade-off worth understanding for large, long-term contract placements.
- Bonus-featured products such as Prosperity Elite and Accelerator Plus may include higher fees, longer surrender charge periods, lower credited interest rates, or lower cap rates than similar F&G products without a bonus feature.
- Optional riders, such as the Enhanced Guaranteed Minimum Death Benefit on Accelerator Plus, carry an additional charge (commonly assessed against the rider’s guaranteed minimum death benefit amount) deducted from the account value each contract anniversary.
- Withdrawals beyond the allowed free-withdrawal amount during a guarantee or surrender period may trigger a withdrawal charge.
- The frequent public confusion between F&G and Fidelity Investments means consumers should double-check which company they are actually reviewing before making a decision.
- Annuity guarantees are backed by the claims-paying ability of Fidelity & Guaranty Life Insurance Company, or in New York, Fidelity & Guaranty Life Insurance Company of New York, not by FDIC insurance.
Consumers should request a current product brochure, illustration, and state-specific disclosure directly tied to the exact product being considered, since terms vary by state and change over time.
Who Might Consider This Carrier?
An F&G annuity may be worth reviewing for retirees and pre-retirees who want a rate-competitive middle-market carrier: rate-sensitive savers comparing Guarantee-Platinum against other MYGAs, bonus-focused buyers comparing Prosperity Elite or Accelerator Plus, accumulation-focused savers comparing Power Accumulator or SecureBuilder, and retirees interested in Safe Income Advantage’s inflation-adjustment feature.
Who May Not Be a Fit
This carrier’s products may not be the best fit for consumers who weight the very highest financial strength rating tier across all four agencies most heavily, buyers still confusing this carrier with Fidelity Investments and expecting a brokerage-style relationship, or those who need New York availability directly through the primary issuing entity rather than its separate New York subsidiary.
FAQs: Your Questions Answered
Ask how the annuity fits your plan, what happens if you need money early, how income is calculated, what fees apply, and what guarantees are actually contractual.
Yes. A multi-carrier comparison helps determine whether a product is competitive and appropriate for the stated retirement goal.
Fixed and fixed indexed annuities are generally insurance products. Variable annuities and registered index-linked annuities are securities-registered products and require separate compliance review.
Not automatically. A higher bonus can come with a longer surrender period, lower future crediting potential, or stricter withdrawal rules.
Accumulation should be compared using guaranteed rates, caps, participation rates, index strategies, bonuses, and how those terms may change after the first contract period.
The answer depends on the payout amount, income start date, rider cost, joint-life options, inflation features if available, and contract rules. A quote comparison is required.
No. Annuity guarantees are backed by the claims-paying ability of the issuing insurance company, not by FDIC insurance.
Fixed and fixed indexed annuities generally protect principal from direct market losses, but withdrawals, surrender charges, rider fees, taxes, and penalties may reduce value.
Compare product type, surrender period, free withdrawals, income features, fees, caps, participation rates, renewal rules, carrier strength, and whether the contract solves your retirement planning objective.
Annuity contracts are generally governed by the state where the contract was issued, but the availability of new products and riders can vary by state. Consumers who relocate should review their contract with an advisor.
Independent agencies such as AM Best, S&P, Moody’s, and Fitch assign financial strength ratings based on the insurer’s ability to meet its claims obligations. Check these ratings directly with the rating agency for the most current information.
An independent comparison can help you evaluate multiple carriers rather than focusing on a single product illustration or brand name.
Review surrender charges, rider fees, administrative fees, mortality and expense charges if applicable, and any product-specific costs.
They may be appropriate for some retirees, especially those seeking protection, tax deferral, or income planning. They may not suit retirees who need full liquidity or high growth potential.
Some products may offer fixed rates, while indexed or market-linked products use crediting formulas. Renewal rates, caps, spreads, and participation rates may change after the initial period.
Compare financial strength, rates, surrender schedules, income features, rider costs, crediting methods, liquidity provisions, and whether the contract fits your retirement plan.
Many annuity carriers offer products or riders that may support lifetime income. Review the current contract and illustration for availability and terms.
It depends on the product. Some fixed annuities protect principal from market losses, while variable or registered index-linked products may involve market-related risk. Surrender charges may also reduce the value if you withdraw funds early.
Safety depends on product type and the issuing insurance company. Fixed annuity guarantees are backed by the claims-paying ability of the insurer and are not the same as FDIC insurance.
Product lines can change, but carrier pages commonly include fixed, indexed, income, RILA, MYGA, or variable annuity categories depending on the company. Current product availability should be verified before purchase.
F&G may be worth considering depending on the product, current carrier strength, state availability, and your retirement goals. The right question is not whether one company is universally best, but whether a specific contract fits your plan.