F&G Annuity Review (2026)

Founded in 1959, now one of the fastest-growing names in the space

F&G Annuities & Life, doing business under a shortened form of its legal name, Fidelity & Guaranty Life Insurance Company, has been writing life and annuity business out of Des Moines, Iowa since 1959. Over the past several years the company has expanded aggressively into MYGAs and fixed index annuities, and its rates now show up near the top of comparison tables often enough that it has become a familiar name to independent agents and rate-conscious buyers alike.

Who actually owns F&G

A lot of coverage gets this wrong: F&G is not owned by Blackstone. Its controlling parent is Fidelity National Financial, the country's largest title insurance company and a Fortune 500 name, which took control of F&G in 2020 and returned it to public trading in 2022 under the ticker FG. Blackstone's role is different. It manages a substantial portion of F&G's investment portfolio as an outside asset manager, which is a services relationship, not an ownership stake. That distinction is worth getting right, because the investment partnership with Blackstone is a real part of why F&G has been able to fund such competitive rates while FNF remains the company that actually controls it.

How strong is F&G financially?

AM Best rates F&G A, its Excellent tier, which clears the bar most independent agents and advisors use as a minimum for annuity business. S&P and Fitch each grade the company a notch lower, at A-, and Moody's rates it A3, in the same range. FNF itself adds a layer of institutional weight behind F&G beyond the insurance ratings alone, since title insurance and real estate services is a large, well-capitalized business in its own right.

Growth this fast is worth watching, not just celebrating. A carrier expanding its MYGA book quickly needs to keep underwriting discipline and reserves in step with new business, and F&G's A rating from AM Best is effectively AM Best's opinion that it has done so. Confirm the current rating directly with AM Best before you commit any deposit, since ratings do move over time.

What does F&G sell?

F&G's shelf splits into two families. On the MYGA side, the Guarantee-Platinum series is the flagship, offered in 3, 5 and 7-year terms with a fixed rate locked for the full term and a 10% annual free withdrawal allowance. Heritage Plus is a second MYGA line built around enhanced rates for larger deposits, which tend to kick in around the $100,000 mark, making it a common landing spot for an IRA or 401(k) rollover.

On the fixed index side, the Safe Income Advantage annuity pairs index-linked growth with an optional income rider for buyers who want a guaranteed lifetime withdrawal built in, crediting against strategies that include an S&P 500 point-to-point option. F&G's broader FIA lineup, sold under the Prosperity Elite name as well, follows the same pattern: principal protection from index-linked growth, plus optional riders layered on top for buyers who want them.

Who fits an F&G annuity?

F&G tends to suit rate-focused MYGA buyers who want a genuinely A-rated carrier rather than trading rating for yield. It is also a natural fit for larger deposits, since Heritage Plus and similar rate tiers reward premiums of $100,000 or more with a better rate, which makes it a common choice for IRA or 401(k) rollovers in the $50,000 to $200,000 range looking to lock in three to seven years of guaranteed, tax-deferred growth.

New York residents are the one clear exclusion. F&G is not currently licensed to sell in New York, so residents there need to look at a different carrier regardless of how F&G's rates compare elsewhere. Buyers who most value a multi-decade, mutual-company pedigree over rate and recent growth may also prefer an older, slower-growing name, that is a legitimate preference and not a knock on F&G's current financial position.

The rate tiers on Heritage Plus are worth spelling out with numbers. If a $50,000 deposit earns a base rate and a $100,000 deposit unlocks a higher published tier, the gap can be worth locking in before you split a rollover across multiple carriers. A buyer sitting on $180,000 in an old 401(k), for example, may come out ahead consolidating into a single Heritage Plus contract at the higher tier rather than splitting it into two smaller deposits at the lower one, assuming the same term and comparable ratings elsewhere. Confirm the exact tier breakpoints and current rates with a licensed strategist, since both can change.

How to buy an F&G annuity

F&G sells through independent agents and financial professionals rather than directly to consumers. Once you settle on a term and a deposit amount, a licensed strategist can confirm current Guarantee-Platinum or Heritage Plus rates for your state, walk through the free withdrawal and surrender terms, and set F&G side by side with other A-rated carriers so you can see how the numbers actually compare before you sign anything.

Other annuity companies to consider

If F&G is on your list, these carriers are worth comparing it against:

• Athene: another fast-growing, alternative-asset-backed carrier competing on MYGA and FIA rate
• EquiTrust: fellow Des Moines carrier with a lower AM Best grade but higher S&P and Fitch marks
• MassMutual: a century-old mutual carrier for buyers who prioritize longevity over growth rate