F&G Safe Income Advantage Annuity – Built-In Income and Health-Based Multipliers
At Diversified Insurance Brokers, we specialize in helping individuals secure guaranteed lifetime income, tax-deferred growth, and protection from market downturns through customized annuity solutions. The Safe Income Advantage Fixed Indexed Annuity, issued by Fidelity & Guaranty Life Insurance Company (F&G), is a strong option for those looking for steady income, principal protection, and enhanced benefits in case of health concerns later in life.
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This annuity stands out with its Enhanced Guaranteed Minimum Withdrawal Benefit (EGMWB) rider, which is automatically included at issue. The EGMWB allows you to lock in guaranteed lifetime income, with an income base that grows annually by either a fixed percentage or by market-linked performance, whichever is greater. This ensures that your future income benefits increase even during periods of market volatility.
Another powerful feature of this annuity is the Impairment Multiplier Benefit. If you meet certain health-related criteria—such as requiring in-home care, assisted living, or nursing home care—your income can double for up to five years. This multiplier provides an extra level of protection for individuals concerned about long-term care costs but who may not qualify for or want to purchase traditional long-term care insurance.
For growth potential, the Safe Income Advantage offers indexing strategies tied to multiple indices, including:
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Balanced Asset 5 Index – a diversified multi-asset strategy
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BlackRock Market Advantage Index – designed for risk-managed growth
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S&P 500 – America’s most well-known equity benchmark
Each index strategy is designed to offer upside potential without exposing your principal to market losses. And unlike some fixed indexed annuities, this product includes performance-trigger crediting options that allow for returns even in flat or slightly down markets.
You also have access to penalty-free withdrawals under specific conditions such as terminal illness, nursing home confinement, or in-home health care—providing flexibility and liquidity if life takes an unexpected turn.
Who Is the F&G Safe Income Advantage Annuity Best For?
This annuity is an excellent fit for:
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Pre-retirees or retirees looking to convert savings into reliable, lifetime income
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Individuals concerned about long-term care expenses, but who want a simplified solution instead of standalone LTC insurance
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People in good health today who want protection in case their health changes down the road
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Conservative investors who want the opportunity for market-linked growth without market losses
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Those with retirement accounts (IRA, 401(k), etc.) looking to reposition assets for guaranteed income
Whether you’re rolling over funds from a qualified retirement plan or repositioning non-qualified savings, the Safe Income Advantage can provide a well-rounded mix of income, protection, and care benefits.
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Want help turning your retirement savings into guaranteed lifetime income—with added protection if your health needs change? Submit an annuity quote request on our quote request form.
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Ready to explore this annuity in more detail—or compare it with other carriers to see if even higher rates are available? With guaranteed income, principal protection, and long-term growth potential on the line, making the right choice is essential. The experienced advisors at Diversified Insurance Brokers will guide you through the options and design a strategy tailored to your retirement goals.
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FAQs: F&G Safe Income Advantage Annuity
What is the F&G Safe Income Advantage Annuity?
The Safe Income Advantage Annuity from F&G is designed to offer principal protection, tax-deferred growth, and the option to convert accumulated value into a reliable retirement income stream. It provides a structured way to accumulate savings and eventually transition to income distribution.
How does interest or growth crediting work?
Depending on the contract option, the annuity may credit fixed-interest or may provide indexed or bonus-based crediting strategies. Earnings accumulate tax-deferred until withdrawal or conversion to income.
Is my principal protected?
Yes. Since the annuity does not invest directly in the stock market, the account’s accumulation value is protected against market downturns. Unless you withdraw more than allowed or surrender early, you should not lose principal due to market volatility alone.
When can I start receiving income?
You may choose to begin income payments at a date specified in the contract. Depending on payout options selected, you might receive lifetime income, joint-life income for you and your spouse, or other structured payment schedules.
Can I withdraw funds before income begins?
Generally, many contracts allow a limited free withdrawal each year (e.g., a set percentage of account value) without surrender charges. But withdrawals beyond that or surrendering the contract early could trigger surrender charges or reduce any future guarantees or benefits.
What about surrender charges and liquidity?
The contract likely includes a surrender period during which early surrender or large withdrawals may lead to surrender charges. That affects liquidity, so this annuity is best suited for those comfortable holding for the long term.
How are withdrawals or income payments taxed?
Earnings grow tax-deferred during accumulation. When you take withdrawals or start income payments, the taxable portion is typically taxed as ordinary income. Withdrawals before age 59½ may also trigger additional tax penalties according to IRS rules.
What happens if I pass away before or after income begins?
Depending on the contract’s death-benefit or payout options, beneficiaries may receive a death benefit based on contract value or guaranteed minimums. If income payments have started, joint-life or period-certain options may allow continuation of payments to a spouse or beneficiary, as specified in the contract.
Who is the F&G Safe Income Advantage Annuity good for?
This annuity may appeal to individuals seeking principal protection, tax-deferred growth, and a path to guaranteed retirement income — especially those with a conservative risk tolerance, long-term horizon, and limited need for liquidity in the short term.
What should I review before purchasing?
Before buying, review the surrender-charge schedule, withdrawal allowances, payout/rider fees, crediting method (fixed vs any bonus/index option), and how the contract’s income features and liquidity align with your retirement timeline and financial goals.
About the Author:
Jason Stolz, CLTC, CRPC, is a senior insurance and retirement professional with more than two decades of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient.
