New Interest Crediting Strategy, Hindsight
20/20SM,
Customizes Approach for Clients with its "Best of
Performance" Approach
DES
MOINES, Iowa, Feb. 13,
2024 /PRNewswire/ -- F&G Annuities & Life,
Inc. (NYSE: FG) ("F&G" or "Company"), a leading provider of
insurance solutions serving retail annuity and life customers and
institutional clients, has launched its first Registered
Index-Linked Annuity (RILA), F&G Confidence
BuilderSM. The Company's newest product addresses
retirement challenges from volatility to inflation, seeking to find
a balance between managing risk and long-term growth
potential.
The RILA category has experienced rapid growth over the last few
years, with total industry RILA sales forecasted to be at a record
level between $44 to $48 billion in 20231 as advisors and
consumers continue to find RILAs an attractive solution in the
current market. Confidence Builder enhances F&G's expanding
retail product suite, backed by the Company's number one ranking
from J.D. Power in customer satisfaction among annuity
providers.2
While limited risk exposure is important to American
investors,3 they are still open to some level of risk
according to F&G's recent Risk Tolerance Tracker. Four out of
five (77%) respondents reported that some level of risk in exchange
for higher return potential is important to them when considering
retirement products, indicating a strong appetite for offerings
such as RILAs.
"As investors deal with ongoing market volatility and inflation,
F&G has designed Confidence Builder to do just that, helping
clients build confidence in their retirement strategy with
comprehensive options to personalize the product," said
John Currier, President, Retail
Markets at F&G. "F&G's new RILA is positioned to be a
solution that maximizes growth potential, limits downside risk and
offers flexibility to adapt to changing market conditions."
Confidence Builder personalizes investment strategies through
customizable crediting periods, diverse crediting methods, tailored
level of downside protection depending on individual preference and
a broad range of index options.
Introducing Hindsight 20/20SM
The innovative Hindsight 20/20 strategy is powered by BofA
Securities and tracks three distinct indexes, each designed to
perform in different market conditions: BofA MP Balanced Index,
BofA MP Growth Index and BofA MP Defensive Index. At the end of the
crediting period, regardless of market fluctuations, Hindsight
20/20 applies the "best-of performance" among these three indexes,
allowing customers to benefit from the best performing of these
indices.4
"The BofA MP Indices are inspired by model portfolio strategies
and include equity exposure ranging from 40% to 75% to meet
different risk tolerance levels as well as varying allocations to
four familiar, commonly used assets," said William Holligan, Managing Director and Head of
Structured Equity Derivatives Sales at BofA Securities. "We are
pleased to collaborate with F&G, which builds on our commitment
to continue providing innovative solutions to clients."
"Imagine being able to capture the best performance from three
different indexes, even after the fact. That's precisely what
F&G Confidence Builder's Hindsight 20/20 offers for clients,"
said Tom Olson, SVP, Financial
Institutions Distribution for F&G. "With Hindsight 20/20,
advisors can focus less on the need to predict market movements
while instead focusing on a personalized investment strategy."
1LIMRA Annuity Market Forecast
2For J.D. Power 2023 award information, visit
jdpower.com/awards
3Learn more about the risk tolerance tracker survey
here. To qualify for the survey, respondents had to be age 30+,
have sole or shared financial decision-making responsibility for
their household, and own financial products valued at $10,000 or more.
4The best-performing index may have negative
performance, under-perform the general market, and/or be subject to
a buffer. Buffers offer protection from initial losses up to a
certain pre-determined threshold, then you're responsible for any
additional losses. Hindsight 20/20 strategy is only available on
6-year segments.
For more complete information about F&G registered
index-linked annuities, call your financial professional or F&G
at 888.513.8797 for a prospectus. The prospectus contains
details on investment objectives, risks, fees, and expenses, as
well as other information about the registered index-linked
annuity, which you should carefully consider.
Guarantees are based on the claims paying ability of the issuing
insurer, Fidelity & Guaranty Life Insurance Company,
Des Moines, IA. F&G
Securities, LLC. "FGSL" is a broker-dealer and affiliate of F&G
and is a member of FINRA and distributes this product.
The provisions, riders and optional additional features of this
product have limitations and restrictions, may have additional
charges, and are subject to change. Contracts are subject to state
availability, and certain restrictions may apply. See the
prospectus for details.
About F&G
F&G is committed to helping Americans turn their aspirations
into reality. F&G is a leading provider of insurance solutions
serving retail annuity and life customers and institutional clients
and is headquartered in Des Moines,
Iowa. For more information, please
visit https://www.fglife.com/.
"F&G" is the marketing name for Fidelity & Guaranty Life
Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued
by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
About Bank of America
Bank of America is one of the world's leading financial
institutions, serving individual consumers, small and middle-market
businesses and large corporations with a full range of banking,
investing, asset management and other financial and risk management
products and services. The company provides unmatched convenience
in the United States, serving
approximately 69 million consumer and small business clients with
approximately 3,800 retail financial centers, approximately 15,000
ATMs (automated teller machines) and award-winning digital banking
with approximately 57 million verified digital users. Bank of
America is a global leader in wealth management, corporate and
investment banking and trading across a broad range of asset
classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers
industry-leading support to approximately 4 million small business
households through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations across the United
States, its territories and more than 35 countries. Bank of
America Corporation stock is listed on the New York Stock Exchange
(NYSE: BAC).
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
Disclaimer
BofA Securities Inc. and its Affiliates ("BofAS" or "Licensor"),
BofA MP Indices (the "Indices" and each, an "Index") and related
information, the name "BofAS", and related trademarks, are
intellectual property of BofAS, licensed from BofAS to Fidelity
& Guaranty Life Insurance Company ("Licensee"). Neither the
Licensee nor any annuity product ("Product") referencing the
Indices is sponsored, operated, endorsed, sold or promoted by
BofAS. Obligations to make payments under any Product are solely
the obligation of Licensee pursuant to the term of the contract
between Licensee and you, and are not the responsibility of BofAS.
BofAS, the Indices and related information, the name of Licensor,
and related trademarks may not be copied, used, or distributed
without BofAS's prior written approval. The Products have not been
passed on as to their legality or suitability, and are not
regulated, issued, endorsed, sold, guaranteed, or promoted by
BofAS. BofAS's only relationship to Licensee is the licensing of
certain trademarks and trade names and the Indices or components
thereof and certain hedging arrangements between BofAS and the
Licensee or its Affiliates and BofAS is not a party to any
transaction contemplated herein. BOFAS MAKES NO WARRANTIES AND
BEARS NO LIABILITY WITH RESPECT TO THE INDICES, ANY RELATED
INFORMATION, THE TRADEMARKS, OR THE PRODUCT(S) (INCLUDING WITHOUT
LIMITATION, THEIR QUALITY, ACCURACY, SUITABILITY AND/OR
COMPLETENESS).
Forward-Looking Statements and Risk Factors
This press
release contains forward-looking statements that are subject to
known and unknown risks and uncertainties, many of which are beyond
our control. Some of the forward-looking statements can be
identified by the use of terms such as "believes", "expects",
"may", "will", "could", "seeks", "intends", "plans", "estimates",
"anticipates" or other comparable terms. Statements that are not
historical facts, including statements regarding our expectations,
hopes, intentions or strategies regarding the future are
forward-looking statements. Forward-looking statements are based on
management's beliefs, as well as assumptions made by, and
information currently available to, management. Because such
statements are based on expectations as to future financial and
operating results and are not statements of fact, actual results
may differ materially from those projected. We undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise. The risks
and uncertainties which forward-looking statements are subject to
include, but are not limited to: general economic conditions and
other factors, including prevailing interest and unemployment rate
levels and stock and credit market performance; natural disasters,
public health crises, international tensions and conflicts,
geopolitical events, terrorist acts, labor strikes, political
crisis, accidents and other events; concentration in certain states
for distribution of our products; the impact of interest rate
fluctuations; equity market volatility or disruption; the impact of
credit risk of our counterparties; changes in our assumptions and
estimates regarding amortization of our deferred acquisition costs,
deferred sales inducements and value of business acquired balances;
regulatory changes or actions, including those relating to
regulation of financial services affecting (among other things)
underwriting of insurance products and regulation of the sale,
underwriting and pricing of products and minimum capitalization and
statutory reserve requirements for insurance companies, or the
ability of our insurance subsidiaries to make cash distributions to
us; and other factors discussed in "Risk Factors" and other
sections of F&G's Form 10-K and other filings with the
Securities and Exchange Commission (SEC).
Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
Investor.relations@fglife.com
515.330.3307
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SOURCE F&G Annuities & Life, Inc.