Fidelity and Guaranty FG Guarantee Platinum 5 Annuity Review
The Fidelity & Guaranty FG Guarantee Platinum 5 Annuity is a fixed interest deferred annuity that provides compounded, tax-deferred growth for 5 years. Your interest rate is determined at contract issue and does not change during the guaranteed period. F&G also offers a 7 year rate guarantee and a 3 year rate guarantee.
FG Guarantee Platinum Annuity Highlights:
- This annuity offers penalty-free interest withdrawals.
- There are no fees, loads, or sales charges.
- Your contract has no stock market exposure.
- Click to read the FG Guarantee Platinum 5 company brochure.
Frequently Asked Questions About the FG Guarantee Platinum 5 Annuity:
Q: Does the interest compound?
Q: Is the interest taxed?
A: The interest you leave in the account grows tax-deferred until you withdraw it. That interest is not taxed within the annuity. This is an advantage over interest you earn on a bank CD which is taxed each year even if you leave it in the CD.
Q: Are there any fees?
A: No. There are no upfront sales charges or ongoing maintenance fees.
Q: Is it FDIC insured?
A: No. FDIC insurance is only for bank deposits. Fixed annuities are guaranteed by the issuing insurance company.
Q: What are the early surrender charges?
A: The early surrender charges only apply to withdrawals which are greater than the annual accrued interest amount. You can always withdraw the annual accrued interest penalty-free. If surrender charges apply, they start at 9% and decline to 0% after the 5th year. The schedule is 9%, 8%, 7%, 6% , 5%, 0%
Q: Are penalty-free withdrawals available? A: Yes. You can setup monthly withdrawals of interest starting after the first month of the contract.
Q: If I withdraw more than the penalty-free amount, will a Market Value Adjustment (MVA) be applied?
A: Yes. You can read more about market value adjustments here.
Q: What happens after the initial 5 year rate guarantee period?
A: You have a 30 day window to do whatever you want with the full cash value any penalties. You can remove all of it or let your cash balance roll over into a new 5 year rate guarantee period.
Q: What happens to the money in my account if I die?
A: Your beneficiaries will receive the full account value.
Q: How do I apply?
A: You can apply online. Start by calling 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page.
Q:What is the minimum premium?
Q:Are there any age restrictions?
A:Yes. You can purchase this annuity up to age 90. In some states the age requirements may differ.
Q:In which states is the FG Guarantee Platinum 5 available?
A: The FG Guarantee Platinum 5 annuity is not available in all states. Call 800-872-6684 to find out if it's available in your state.
To review the FG Guarantee Platinum annuity with an agent or to receive a free personalized illustration call 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page.
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