F&G introduces FILA

Life and annuities insurance provider F&G announced a new annuity product category – the Fixed Index-Linked Annuity (FILA) with the launch of Dynamic Accumulator. The new product is built on a Fixed Index Annuity (FIA) chassis offering 100% principal protection against market decline, but similar to a Registered Index-Linked Annuity (RILA), it also offers increased upside potential and provides customers the flexibility to control their level of risk.

F&G’s Dynamic Accumulator gives clients the flexibility to change risk level annually, dialing back to an FIA-like 0% floor or dialing up the prior index gains they’re willing to put at risk to unlock more upside potential. It works like a RILA when the market is up and has similar guarantees of an FIA when it’s down.

“We know customers want more options, and Dynamic Accumulator offers an innovative new alternative for accumulation providing both safety of principal and upside potential. Our new product serves the same customer needs as a RILA, and we are excited to help define and grow this new FILA category.” – John Currier, President, Retail Markets at F&G.

“FILAs give financial professionals an opportunity to introduce their clients to a product that provides both growth potential and peace of mind. Giving customers the flexibility and control to adjust their risk level annually also creates more opportunities to check in with clients to help them develop the best, proactive retirement plan to meet their needs and aspirations.” – Ron Barrett, SVP Annuity Distribution at F&G.

Dynamic Accumulator is available in 35 states and will be initially sold through F&G’s long-established IMO channel.