Fidelity & Guaranty Life Insurance Company (FGL) has launched a new fixed indexed annuity offering, Performance Pro, to help retirees meet financial needs in an uncertain market conditions.
The new product provides the potential for higher accumulation and/or income during retirement, along with a range of FIA interest crediting options giving customers additional choices and flexibility.
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Available for sale immediately, Performance Pro offers a 10% vesting premium bonus, a performance driven income base, strong illustrated income as well as enhanced income for impairment.
FGL Annuity Distribution vice president Brian Grigg said the market is currently offering several approaches to driving income for FIAs.
"With Performance Pro, Guaranteed Minimum Withdrawal Benefit (GMWB) income is driven by a combination of guarantees and performance tied to the interest crediting options.
Further, performance within the index crediting methods can drive lifetime income to values beyond conventional guaranteed approaches, which may provide greater financial flexibility," Grigg added.
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