An arm of FGL Holdings Inc. has introduced a new indexed annuity contract that will offer crediting rates tied to the performance of iShares exchange-traded funds, or ETFs.
Fidelity & Guaranty Life Insurance Company has filed the new F&G Power Accumulator contract as a fixed product.
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F&G says the product is the first contract brought to market that based the primary crediting strategy on the performance of iShares ETFs.
The contract also offers holders access to a blended investment index.
F&G is based in Des Moines, Iowa. The life insurer’s parent, FGL, is based in George Town, Grand Cayman, in the Cayman Islands.
F&G says the new annuity also comes with some other distinctive features.