According to the firm, the new policy offers accumulation and income benefits to the retirement savers.

Featuring five interest crediting options, the Income and WealthBuilder gives seven-year and ten-year surrender schedule option for maximum flexibility.

FGL annuity distribution vice-president Brian Grigg said the company is anticipating strong sales for this important new product.

"Pre-retirees and retirees remain a growing segment of the US population and continue to drive the need for safe accumulation and income guarantees, among other important features that FIAs offer," Grigg added.

The newly introduced policy also offers an optional Guaranteed Minimum Withdrawal Benefit Rider (GMWB) that helps the owner receive the larger of premiums paid in the first contract year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.