FG Immediate-Income®
Guaranteed payments for a lifetime or fixed period, beginning right away.
FG Immediate-Income helps you:
- Meet expenses in retirement with guaranteed payments and inflation protection
- Have the security of knowing you won’t outlive your assets
- Provide a financial legacy, with the option of providing death benefits and continuing payments after your lifetime
Since 1959, F&G has been the silent, unseen enabler of the hopes and dreams of millions of Americans.
Today, we provide annuities and life insurance for over 1,000,000 people across the United States.
The people who hold our policies were introduced to us by someone they know - their financial or insurance professional. We collaborate with them to be partners in prosperity with you and the people you care about most.
Working together we become something greater; we become agents of possibility, agents of empowerment, agents of stability and security in a volatile world.
We work together, think together, succeed together. We collaborate to help you prosper.
An annuity is a long-term retirement tool that can be a cornerstone of your financial security and success.
You pay a premium (think of it as your principal) to F&G and F&G provides an annuity contract with unique benefits to you.
In particular, if you’re interested in steady, predictable and immediate income that continues for your lifetime, the lifetime of another, or a fixed period of time, a SINGLE PREMIUM IMMEDIATE ANNUITY may be a good choice for you.
This quick reference guide is intended to provide a helpful overview of FG Immediate-Income. It is coupled with the Statement of Understanding (which will be referred to as the SOU) that explains this annuity in detail.The SOU contains product information that is important and specific to you, to give you an understanding of this annuity. If you decide to complete an application, your financial or insurance professional will ask you to sign an acknowledgement to confirm you’ve received and read the SOU. In the event of any conflict between this guide and the SOU, the SOU prevails.
Your financial or insurance professional is able to explain the benefits and restrictions that apply in your state.
In this quick reference guide, we’ve assumed you are the annuitant – most people buy an annuity for their own life. However, you may purchase an annuity for someone else’s lifetime, or to benefit someone for a fixed period. In that case you would be the owner of the policy, and the person for whose benefit you have purchased it would be the annuitant. In this guide, “you” refers to the annuitant.
Read on and learn how FG Immediate-Income can play an important part in your financial security.
FG Immediate-Income is a single premium immediate annuity that provides you with income on a schedule that suits you. It provides retirement income with these important features:
- Guaranteed payments that continue for your lifetime, the lifetime of another (for example, your spouse), or a fixed period, depending on the payout option you choose.
- Accelerated benefits if you become critically ill.
- A choice of monthly, quarterly, semiannual or annual payments.
- The option to add inflation protection.
- Payout options that provide lump sum death benefits for peace of mind.
Income for a fixed period
You will receive guaranteed income for the fixed period of time you have chosen, and the fixed period must be seven years or longer.
Should you die during this fixed period, your spouse or beneficiary will receive the payments till the end of the fixed period OR may elect to take a lump sum death benefit. The lump sum death benefit consists of the net present value of the remaining payments.
Life income with a fixed period
You will receive guaranteed income for your life. You will choose a fixed period, which must be seven years or longer. If you die during the fixed period, your beneficiary will receive the remaining guaranteed income payments.
Life income
You will receive guaranteed income for as long as you live. This should not be chosen if you want someone to receive payments after your death.
Joint and contingent life income
You will receive guaranteed income for life, and if you die before your contingent annuitant, payments continue for your contingent annuitant’s lifetime at the rate you choose in your application.
Joint and survivor life income with a fixed period
Guaranteed income is paid while you and your joint annuitant are alive, and after the death of either of you, payments continue for the other’s lifetime at the rate you choose in your application. If both you and your joint annuitant die during the fixed period, the payments continue to your beneficiary until the end of the fixed period. The fixed period you choose must be seven years or longer.
Joint and survivor life income
Guaranteed income is paid while you and your joint annuitant are both alive. After your death, or the death of your joint annuitant, payments continue for the other’s lifetime at the rate you choose in your application.
Adding inflation protection
FG Immediate-Income has the option of a built-in cost of living adjustment of up to 10% per year, at the percentage you choose.
If you select this option, you'll receive a lower initial payment amount that will increase by the cost of living adjustment each year.
Withdrawals for critical illness
If you are diagnosed with a critical illness, you have the option of taking a lump sum payment instead of the remaining guaranteed payments. Critical illness is a defined condition, and this benefit may vary from state to state.
Death benefits
A life income payout option with a single annuitant does not provide a death benefit, as payments end on the death of the annuitant.
The other payout options provide continuing lifetime income to your joint or contingent annuitant, or income for the remaining fixed period, to your beneficiary. This income continues without delays or the need for probate. Upon your death some payout options allow the income to be taken as a lump sum death benefit.
Any growth inside the annuity is tax-deferred1.
This means you don’t pay taxes on the interest as it’s earned, only in the year you withdraw it.
Income payments are treated partially as a withdrawal of earnings (taxable) and partially as a return of your premium (nontaxable).
If a beneficiary elects to take a lump sum benefit at the death of the annuitant, the interest portion of that payment would be subject to income tax. If you purchase the annuity with pre-tax dollars (qualified funds), please keep in mind that buying an annuity in an IRA or other tax-qualified retirement account offers no additional tax benefit, since the retirement account is already tax- deferred.
All payments are taxable. F&G does not offer tax or legal advice. Consult a tax professional regarding your specific situation.
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About F&G
1959established
over1,000,000people protected
F&G, headquartered in Des Moines, Iowa, offers unique life insurance and annuity solutions to meet individual financial security needs through a national network of financial professionals.
ADV5535 (01-2025)
1 You pay taxes only when you make withdrawals and receive income in the future.
“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.
Contracts issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
Guarantees are based on the claims paying ability of the issuing insurer, Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
Policy form numbers: OM SPIA-C (01-10), OM SPIA (01-10), API-SPIA (05-2018), OM ABR-SPIA (01-10), FGL ABR-SPIA (01-05), OM WAE (01-10), OM TSA 2009, ICC20-AE-2037 (5-20), AE-2037 (05-20), ICC20-AE-2038 (5-20), AE-2038 (05-20), ICC20-UNISEX-IRA.
Immediate-Income is a single premium immediate annuity; not available in AL, MS, NY, PA, and PR.
The provisions, riders and optional additional features of this product have limitations and restrictions, and may have additional charges. Contracts are subject to state availability, and certain restrictions may apply. See the SOU for details.
Annuities are long-term vehicles to help with retirement income needs.
For group contracts, the group certificate and master contract provide the terms and conditions, which are subject to the laws of the issuing state.
This product is offered on a group or individual basis as determined by state approval.
In Oregon, this advertisement applies only to the individual product.
Surrender charges and a market value adjustment (MVA) may apply to withdrawals. An MVA may increase or decrease the surrender value. Withdrawals may be taxable and may be subject to penalties prior to age 59 ½. Withdrawals will reduce the available death benefit.
Information provided regarding tax or estate planning should not be considered tax or legal advice. Consult your own tax professional or attorney regarding your unique situation.
Fidelity & Guaranty Life Insurance Company (F&G) offers a diverse portfolio of fixed and indexed deferred annuities and optional additional features. Before purchasing, consider your financial situation and alternatives available to you. Your F&G financial professional can help you determine the suitable alternatives for your goals and needs, or visit us at fglife.com for more information.
F&G may change your annuity contract from time to time, to follow federal and state laws and regulations, subject to regulatory approval. If this happens, we’ll tell you about the changes in writing.
No bank guarantee.
Not FDIC/NCUA/NCUSIF insured.
May lose value if surrendered early.
