Goldstein Scorecard: B- (dated October 4, 2026). See how it is graded.
F&G Guarantee-Platinum MYGA Review: Terms, Surrender Schedule, Ratings and Which “Fidelity” Is Which
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against F&G’s Guarantee-Platinum consumer guide (rev. 10-2025), at-a-glance and ratings page on October 4, 2026 · Updated
FG Guarantee-Platinum is the multi-year guaranteed annuity of Fidelity & Guaranty Life Insurance Company (F&G), Des Moines, Iowa, offered with 3, 5 or 7-year guarantee periods. Surrender charges start at 9% and fall 1% a year, accumulated interest is penalty-free, and an MVA applies outside California and New Jersey.
F&G lists AM Best A, stable, as of March 2026. F&G does not post the current rate publicly. F&G is not Fidelity Investments.
Correction (October 4, 2026): an earlier version of this page showed June 2026 rates of about 5.65% (5-year), 5.75% (7-year) and 5.50% (10-year), called it the “#1 A-rated MYGA rate”, listed a 10-year term, Moody’s Baa1, Weiss B and a COMDEX of 76, and graded renewal and customer service.
F&G’s current consumer guide shows only 3, 5 and 7-year periods, and its ratings page shows Moody’s A3.
The June rates could not be matched to a public F&G document, and the other items have no dated primary source, so they were removed along with a star score and competitor picks whose rates were not verified.
Also see: CIT Bank Platinum Savings Review
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge.
In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
FG Guarantee-Platinum: verified contract facts
| Guarantee period | Yr 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| GP3 (3-year) | 9% | 8% | 7% | ||||
| GP5 (5-year) | 9% | 8% | 7% | 6% | 5% | ||
| GP7 (7-year) | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
| Feature | What F&G publishes |
|---|---|
| Issuer | Fidelity & Guaranty Life Insurance Company, Des Moines, IA (outside New York) |
| Guarantee periods | 3, 5 or 7 years; interest credited daily |
| Current rate | Not publicly disclosed; ask for the current rate sheet and its effective date |
| Penalty-free access | Accumulated interest during the surrender period (systematic interest-only withdrawals allowed); full access in the 30-day window after each guarantee period |
| Renewal | Renews automatically into a guarantee period of the same length after the 30-day window, and the 9% schedule restarts. In CA, CT, ID, NC, NJ, OK and VT, charges keep falling 1% a year and do not restart. After age 91, surrender charges and MVA no longer apply on renewal |
| MVA | Applies whenever a surrender charge applies; not in CA or NJ |
| Waivers | Nursing home and terminal illness access to account value without surrender charge or MVA (conditions apply; not in MA) |
| Issue ages / premium / minimum rate | Ages 0 to 90; $20,000 minimum, $2.5 million maximum; minimum guaranteed interest 1% to 3% (GP3 at-a-glance, rev. 09-2022; confirm in your current Statement of Understanding) |
| Death benefit | Account value, lump sum |
Financial strength ratings (F&G ratings page, read October 4, 2026)
| Agency | Rating | As of |
|---|---|---|
| AM Best | A, stable | March 2026 |
| S&P Global | A-, stable | September 2025 |
| Fitch | A-, stable | October 2025 |
| Moody’s | A3, stable | October 2025 |
Which “Fidelity”? F&G vs Fidelity Investments vs Fidelity Life
| Company | Who it is | MYGA? |
|---|---|---|
| F&G (Fidelity & Guaranty Life Insurance Company) | Des Moines, IA insurer; part of the Fidelity National Financial (NYSE: FNF) family, which holds about 70% of F&G Annuities & Life (NYSE: FG) | Yes: FG Guarantee-Platinum 3, 5 and 7. F&G Pathsetter is indexed universal life insurance, not an annuity |
| Fidelity Investments (Fidelity Insurance Agency) | Distributes annuities issued by unaffiliated insurers and by Fidelity Investments Life Insurance Company (FILI); FILI is not related to F&G | Lists deferred fixed annuities from several insurers, plus its own Fidelity Fixed Deferred Retirement Annuity |
| Fidelity Life (Fidelity Life Association) | Life insurer; its website lists term, final expense, senior whole life and accidental death coverage | No annuity is listed on fidelitylife.com |
If you were researching “Fidelity Life MYGA” or “F&G Pathsetter MYGA”, the annuity you most likely mean is the one on this page. For the life policy, see the F&G Pathsetter IUL review; for Fidelity Investments’ own annuity shelf, see Fidelity Investments vs a fixed annuity.
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
We’ll email you when a rate on this page changes. Hans Goldstein · NPN 20602398.
Rather talk it through? Or book 15 minutes on Hans’s calendar.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A | AM Best A (stable) as of 3/2026; S&P A-, Fitch A-, Moody’s A3 (F&G ratings page). |
| Rate competitiveness | Incomplete | F&G does not publish the current rate, so it cannot be compared with the 9/24/2026 benchmark. |
| Guaranteed floor | C | Minimum guaranteed interest 1% to 3% by state (2022 at-a-glance). |
| Liquidity | C | Only accumulated interest is penalty-free; 9% first-year charge; MVA outside CA and NJ; schedule restarts at renewal in most states. |
| Costs | A | No rider or annual fee listed; waivers built in. |
| Transparency | C | Surrender schedules and rules are public; current rates are not. |
| Overall | B- | Weighted toward financial strength and the contractual minimum, since a fixed rate is only as good as the insurer paying it. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
- Pro: AM Best A (stable) as of March 2026, with S&P, Fitch and Moody’s ratings published by the company with dates.
- Pro: three short terms (3, 5 and 7 years) with published surrender schedules.
- Pro: no MVA in California or New Jersey, non-restarting charges in seven states, and nursing home and terminal illness waivers.
- Con: the current rate is not published, so you need a dated rate sheet from an agent to compare.
- Con: free withdrawals are limited to accumulated interest; there is no 10% annual free withdrawal.
- Con: automatic renewal restarts the 9% surrender schedule in most states if you miss the 30-day window.
Who it’s for, and when to look elsewhere
Fits: a buyer who wants a declared rate for 3, 5 or 7 years from an A-rated insurer and does not expect to need principal before the term ends. A MYGA locks a declared rate for the term; Guarantee-Platinum does that with a short schedule.
Look elsewhere if: you need a 10% yearly free withdrawal, a 10-year term, or a rate you can check publicly before you call anyone. For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026). Current rates: MYGA rates.
Run the numbers: MYGA growth calculator · MYGA vs CD after-tax calculator. Related: F&G Power Accumulator FIA · 5-year MYGA rates compared · Annuity second opinion
Questions to ask your agent
- What is today’s Guarantee-Platinum rate for my term, with the rate sheet’s effective date, and what minimum guaranteed interest rate will my contract show? Please put both in writing.
- What is the full surrender schedule by year for my state, does an MVA apply here, and does the schedule restart at renewal?
- What exactly can I withdraw penalty-free each year: accumulated interest only, or more?
- What renewal rate has F&G declared on contracts that reached the end of a guarantee period this year?
- How are you paid on this product? Agents are paid a commission by the insurer, built into pricing and not deducted from your premium. What percentage is it, and does the 7-year term pay you more? (Background: how annuity commissions work.)
From my desk
The first thing I check on any “Fidelity” quote is the issuer line on the application: Fidelity & Guaranty Life Insurance Company, Fidelity Investments Life Insurance Company, or a third-party insurer sold through Fidelity Investments. They are different balance sheets with different ratings.
On Guarantee-Platinum itself, the number buyers most often misread is the free withdrawal. It is accumulated interest, not 10% of the account, and the renewal clause matters as much as the rate: miss the 30-day window and, in most states, a new 9% schedule starts. When I compare it with other MYGAs, I want F&G’s rate sheet date next to the A-rated benchmark for the same week.
Hypothetical, not a quote: on a $100,000 GP5 that has credited $8,000 of interest, a $15,000 withdrawal in year 3 would be $8,000 free and $7,000 subject to the 7% charge ($490), plus or minus any MVA.
Frequently asked questions
What is the current FG Guarantee-Platinum rate?
F&G does not publish it on its public website (checked October 4, 2026). Ask for the current rate sheet with its effective date, and the minimum guaranteed interest rate for your state, before you compare it with other MYGAs.
What terms does FG Guarantee-Platinum offer?
Guarantee periods of 3, 5 or 7 years, per F&G’s consumer guide (ADV2010 rev. 10-2025). There is no 10-year Guarantee-Platinum term in that guide.
What is the FG Guarantee-Platinum surrender schedule?
Charges start at 9% and fall 1% a year: 9%, 8%, 7% for the 3-year; through 5% for the 5-year; through 3% for the 7-year. After a 30-day window at term end, the contract renews for the same period and the schedule restarts at 9%, except in CA, CT, ID, NC, NJ, OK and VT, where charges keep declining.
How much can I withdraw without a surrender charge?
Your accumulated interest, during the surrender charge period, including systematic interest-only withdrawals. Other withdrawals carry the surrender charge and, outside California and New Jersey, an MVA. In the 30-day window after each guarantee period you can access the full account value without a charge.
Is F&G the same company as Fidelity Investments?
No. F&G (Fidelity & Guaranty Life Insurance Company, Des Moines, Iowa) is part of the Fidelity National Financial family, which holds about 70% of F&G Annuities & Life. Fidelity Investments is a separate company with its own insurer, Fidelity Investments Life Insurance Company.
Is F&G Pathsetter a MYGA?
No. F&G Pathsetter is an indexed universal life insurance policy (F&G consumer brochure ADV2261 rev. 12-2025). F&G’s multi-year guaranteed annuity is FG Guarantee-Platinum.
What is F&G’s AM Best rating?
F&G’s ratings page shows AM Best A with a stable outlook as of 3/2026, S&P A- (9/2025), Fitch A- (10/2025) and Moody’s A3 (10/2025), all stable.
Sources (checked October 4, 2026)
- F&G, FG Guarantee-Platinum 3, 5 & 7 consumer guide, ADV2010 rev. 10-2025
- F&G, FG Guarantee-Platinum 3 at-a-glance, ADV2023 rev. 09-2022: ages, premium, minimum interest
- F&G, About and Our Ratings: AM Best A (3/2026), S&P A- (9/2025), Fitch A- (10/2025), Moody’s A3 (10/2025)
- F&G Annuities & Life investor site: FNF ownership about 70%
- F&G, F&G Pathsetter indexed universal life consumer brochure, ADV2261 rev. 12-2025
- Fidelity Investments, deferred fixed annuity rates page and disclosures
- Fidelity Life Association, fidelitylife.com: product menu
- MYGA and CD benchmark: public carrier rate sheets (MYGAs, October 14, 2026) and DepositAccounts (CDs, September 24, 2026); see MYGA rates
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398). Not affiliated with F&G, Fidelity National Financial, Fidelity Investments or Fidelity Life Association. Figures are copied from the documents named, with their dates. Examples labelled hypothetical are illustrations, not quotes.
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.