How it works
F&G SecureLanding Fixed Indexed Annuity: product description and policy
The F&G SecureLanding is a Fixed Indexed Annuity (FIA) that offers annuitants the opportunity to earn a portion of market index-linked returns without exposure to market downside risk. It is designed for individuals seeking a fixed indexed annuity with the potential to deliver “a minimum upside” in low-to-moderate return environments. However, this added upside potential comes at a cost, which we will examine in this review to assess whether the trade-off is worthwhile.
Let’s have a look at the high-level fine print of the F&G SecureLanding Fixed Indexed Annuity, and then we will discuss each point in detail.
The F&G SecureLanding Fixed Indexed Annuity is almost identical for both policy tenures, except for the crediting strategies and surrender charge schedule. For ease of discussion and clarity, we will focus on the F&G SecureLanding 7 FIA (unless otherwise mentioned) for the remainder of the article.
An annuitant (maximum age at the time of policy issue: 85) can purchase the F&G SecureLanding Fixed Indexed Annuity with a minimum initial purchase amount of $10,000, and in return, they will earn a portion of market index returns (calculated through a formula that we will discuss shortly), credited to the contract’s account value as per the chosen crediting period. Apart from the regular crediting period, various events may trigger earnings credit, including free withdrawals, long-term care events, terminal illness or injury events, or when a death benefit is payable.
We will discuss the mechanics, costs, and income calculations of this rider in more detail later in this review.
Coming back to the growth of the account value, the F&G SecureLanding Fixed Indexed Annuity allows annuitants to allocate their premium across one or more indexing strategies tied to the S&P 500 Index and the Balanced Asset 5 Index to determine how interest is credited. The S&P 500 Index offers three crediting strategies, while the Balanced Asset 5 Index offers two crediting strategies. In addition, the plan includes a fixed-rate guaranteed interest option. In total, the annuity provides six crediting strategy choices. Below, we briefly discuss each available index.
- S&P 500 Index – The S&P 500 Index is a widely recognized benchmark for the U.S. stock market, tracking the performance of 500 large publicly traded companies listed on American stock exchanges. It is a market-capitalization-weighted index, meaning larger companies have a greater impact on its value. The index covers approximately 80% of the total U.S. equity market capitalization and is considered one of the best representations of the overall U.S. stock market and economy.
- Balanced Asset 5 Index: The Balanced Asset 5 Index employs a classic approach to portfolio construction, featuring a 60/40 allocation using a selection of BlackRock ETFs. Combined with rebalancing and volatility control features, the index seeks to provide excess returns across market conditions through a tactical combination of equity and fixed-income ETFs. The CIBC Balanced Asset 5 Index was introduced in June 2020 and aims for a 5% annualized realized volatility. While these volatility controls may result in less fluctuation in rates of return compared to indexes that don’t use them, they may also reduce the overall rate of return compared to those other indexes.
It is very important to note that, like other Fixed Indexed Annuities, the F&G SecureLanding Fixed Indexed Annuity comes with rate-limiting mechanisms (like cap rates, participation rates, and triggers) for these indexes, meaning that you will be credited only a part of the index return to your annuity. These rates change frequently; I will briefly discuss them.
In addition to allocating funds in the following indexes, the annuitant also has the option to allocate funds at a fixed interest rate. Like the index rates, these fixed rates are also subject to change over time.
The Earnings Crediting Formula
The earnings crediting formula is one of the most important parts of this annuity discussion. It is essential to note that we don’t simply receive the index return credited to our annuity. The company has several rate-limiting mechanisms (such as cap rates, participation rates, and performance triggers) in place that affect our earnings. These rates are subject to change over time. You can verify the updated rates with the assistance of your advisor or on the company’s website.
Let’s have a look at different terms that are used by the company in the F&G SecureLanding Fixed Indexed Annuity rate chart:
Cap Rate
This refers to the rate at which your interest-earning capacity is capped. For example, if an index returns 12% but the contract’s cap rate is 5%, the annuitant will be eligible for an interest credit of 5% only. It doesn’t matter how much the index goes above the cap rate; the maximum interest that can be earned is the cap rate.
Cap Rate simulator
Shows how a cap limits the credited return when the index year is higher than the selected cap.
8%
Formula
min(10%, 8%) = 8%
This is a one-year teaching example only. Actual contract credits depend on the index, strategy term, allocation, renewal rates, state rules, and carrier contract language.
Participation Rate
The participation rate describes the annuitant’s participation percentage in the return of an index. For example, suppose the participation rate is 40%, and the index returned 10% over the agreed time. In that case, the annuitant will be eligible only for 40% of the return, i.e., 4%.
Participation Rate simulator
Shows how the contract credits a percentage of a positive index return.
5%
Formula
10% x 50% = 5%
This is a one-year teaching example only. Actual contract credits depend on the index, strategy term, allocation, renewal rates, state rules, and carrier contract language.
Performance Trigger Rate
A flat or positive index return triggers the declared interest rate to be credited to the contract value. If the index return is negative, no interest is credited; however, there will be no loss, and the contract value will remain unchanged. The declared interest rate is set at the time of contract issue.
Performance Trigger Rate simulator
Shows how a flat or positive index year can credit the declared trigger rate.
6%
Trigger activates
Formula
10% is flat or positive, so the trigger credits 6%
This is a one-year teaching example only. Actual contract credits depend on the index, strategy term, allocation, renewal rates, state rules, and carrier contract language.
Fixed Rate
If you opt for a fixed account rate, you simply earn the fixed rate for a particular period specified by the company before your policy begins. These rates are usually low/at par as compared to other fixed avenues, such as CDs and MYGAs, so you should avoid fixed rates in a general scenario.
When allocating premiums in a fixed-indexed annuity, individuals can distribute their money across these different indexing strategies. This means you can decide how much of your premium to allocate to each strategy, allowing for a tailored approach to potential growth and risk based on your financial goals and comfort level.
Rates and costs
Rates, bonus, surrender charges, and costs
Liquidity
How can you access your money?
Should your needs change unexpectedly and you need to take an excess withdrawal (a withdrawal that is above the free withdrawal amount available in a given contract year), you may be entitled to access additional monies; although certain charges and penalties may apply. Any amount withdrawn in excess of the remaining free withdrawal amount is subject to a Surrender Charge. Below is the Surrender Charge schedule for the F&G SecureLanding FIA:
Unlike regular fixed indexed annuities, the F&G SecureLanding also has a Return of Premium (ROP) feature that provides additional liquidity protection during the surrender period.
This feature is particularly valuable for investors who are concerned about committing capital in a rising-rate environment, as it provides a contractual “exit door” without relying solely on market value adjustments.
Once the surrender charge period ends, you can typically access your full contract value without fees.
An annuitant can also convert the contract into a stream of guaranteed income, known as annuitization. They can choose from various payout options designed to meet different needs.
Note that annuitization is different from the lifetime income rider offered by many annuities. For a detailed explanation of the differences between annuitization and a lifetime income rider, please refer to my post on annuitization.
Annuitization options
- At any point during the surrender period, the annuitant may elect to receive their original premium back (less any withdrawals).
- If the surrender value happens to be higher than the ROP amount at that time, the annuitant receives the higher of the two.
- The ROP feature only applies during the surrender charge period and ends once the contract exits surrender.
Death benefit
Upon the annuitant’s death, the beneficiary will get the greater of (i) the Account Value or (ii) the Surrender Value
Riders and waivers
Riders and waivers
Riders are additional features built into an annuity that enhance its core benefits, often by providing added protection, guarantees, or liquidity. In the following section, we review the riders included with the F&G SecureLanding annuity and assess how they affect the product’s overall risk, return profile, and suitability.
Minimum Interest Credit Rider
The Minimum Interest Credit (MIC) rider is the defining feature of the F&G SecureLanding Fixed Indexed Annuity, designed to enhance growth potential in low-to-moderate return environments while maintaining full principal protection. Unlike traditional FIAs that rely solely on annual index credits, MIC guarantees a minimum interest credit that effectively acts as “growth insurance” on your accumulated interest.
How the MIC Works
The Minimum Interest Credit (MIC) goes beyond the standard FIA promise of “zero is your floor” by providing a contractual minimum level of growth at the end of the surrender period.
- If, at the end of the 5-year or 7-year surrender period, the account value is less than the MIC value, F&G applies a one-time true-up credit to bring the account value up to the guaranteed MIC level.
- The MIC is stated upfront and varies by term length and state.
- The MIC rider is automatically included (not optional) and does not apply in California.
This feature effectively converts SecureLanding into a hybrid between a traditional FIA and a guaranteed-growth product, offering known minimum outcomes alongside index-linked upside.
When the MIC Rider Makes Sense
In my view, the MIC rider does make sense under the following conditions:
- The investor is highly downside-sensitive and wants a known minimum outcome upfront
- The funds are being positioned as a bond or CD alternative rather than an equity substitute
- The annuity is expected to be held through the full surrender period
- The investor is concerned about sequence-of-returns risk during the early retirement window
- At any point during the surrender period, the annuitant may elect to receive their original premium back (less any withdrawals).
- If the surrender value happens to be higher than the ROP amount at that time, the annuitant receives the higher of the two.
- The ROP feature only applies during the surrender charge period and ends once the contract exits surrender.
- Life Only – Provides income for as long as you live.
- Joint and Survivor Life – Continues payments over two lifetimes, often used by couples.
- Life with Period Certain (up to 30 years) – Pays income for life, but guarantees payments for a minimum period even if death occurs earlier.
- Period Certain (up to 30 years) – Provides guaranteed payments for a set number of years, regardless of lifespan.
- Single Life or Joint Life with Cash Refund – Ensures that if the annuitant(s) pass away before receiving payments equal to the original premium, the difference is refunded to beneficiaries.
- Single Life or Joint Life with Installment Refund – Similar to the cash refund, but any remaining balance is paid out over time in installments.
Carrier
Company details
You must always keep in mind that, unlike CDs, annuities are not guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other federal insurance agency. An annuity's "guarantee" is only as strong as the insurance company that issues the annuity, so it is always important to assess the issuing company before buying an annuity.
F&G is a subsidiary of Fidelity National Financial. Fidelity National Financial is one of the oldest title insurance companies and has been in the business for over 18 decades. It is a Fortune 500 company ranking #313.
It is rated as follows by the rating agencies:
| AM Best | A (3rd of 13 ratings) |
|---|---|
| Moody’s | A3 (7th of 21 ratings) |
| S&P | A- (7th of 21 ratings) |
| Fitch | A- (7th of 21 ratings) |
Fidelity has consistently maintained strong ratings for many years. Fidelity is considered to be financially strong and stable. As of year-end 2024, some of the other financial highlights for Fidelity include its:
- $15.3 billion in total sales / direct written premium
- $50 billion of a total investment portfolio
- $51.6 billion Assets Under Management (AUM)
- $85 billion in total assets
- $622 million in net income
Thus, by examining the operating history and financial numbers, we can confidently conclude that you can trust your savings with F&G.
Pros
Defined Minimum Outcome
The Minimum Interest Credit (MIC) rider provides a clearly stated floor on returns, allowing investors to know their worst-case outcome upfront rather than relying solely on a zero-return guarantee.
No Ongoing Contract Fees
The annuity does not charge annual contract or administrative fees, keeping the cost structure relatively clean outside of the MIC rider.
Asymmetric Risk–Reward Profile
Investors retain upside participation through index-linked strategies while benefiting from a built-in safety net if markets underperform.
Return of Premium Feature
The ability to recover the original premium during the surrender period adds an extra layer of liquidity and psychological comfort.
Health-Related Liquidity Waivers
Penalty-free access in cases of impairment, nursing home confinement, or terminal illness meaningfully improves real-world usability.
Conclusion
Conclusion
With the advancement in healthcare and technology, the average American today is living longer than ever. Therefore, it’s crucial to have a steady stream of income that can grow safely and consistently. This not only helps you mitigate the risk of outliving your savings but also ensures that you continue to live a decent life even in your retirement.
The F&G SecureLanding Fixed Indexed Annuity is best understood as a defined-outcome accumulation product rather than a traditional growth-oriented FIA. Its core appeal lies in the Minimum Interest Credit feature, which provides a clearly articulated floor on returns while preserving upside participation through index-linked strategies. This structure makes SecureLanding particularly suitable for conservative investors who value certainty, downside protection, and capital preservation over maximizing upside potential. While the MIC charge and capped return profile may limit performance in strong market environments, the trade-off is intentional and aligned with the product’s risk-managed design. For investors seeking predictable growth with built-in safeguards and a clear understanding of worst-case outcomes, the F&G SecureLanding FIA can serve as a thoughtful and defensible component within a broader retirement allocation strategy.