Goldstein Scorecard: Incomplete (dated October 4, 2026). See how it is graded.
F&G Power Accumulator 7 and 10 Review: Surrender Charges, Crediting Options and What F&G Publishes
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 Power Accumulator brochure (ADV2295, rev. 06-2026) and F&G's ratings page on October 4, 2026 · Updated
F&G Power Accumulator is an accumulation fixed indexed annuity from Fidelity & Guaranty Life Insurance Company, sold as Power Accumulator 7 and Power Accumulator 10. Per F&G's brochure (rev. 06-2026), surrender charges start at 9% (PA 7) or 12% (PA 10; 9% in 21 states including CA, TX and FL 65+), and 10% of account value is free each year from year 2. F&G does not publish current rates on its public site, so no rate here is presented as current.
What it is
Power Accumulator is F&G's accumulation fixed indexed annuity, in 7-year and 10-year versions. Most of its crediting is participation-rate based on volatility-controlled indices and ETFs: Balanced Asset 5 and Balanced Asset 10, the BlackRock Market Advantage Index, the Morgan Stanley US Equity Allocator Index, and iShares ETFs such as the Core S&P 500 ETF (IVV). There is also one fixed interest option. F&G's brochure says the volatility-controlled indexes target 5%, 6%, 10% or 12% volatility. Index losses are not credited, and gains are locked in at the end of each crediting period; surrender charges and an MVA can still reduce what you receive if you leave early.
Correction: an earlier version of this page described “caps in the 7-9% range” and compared other carriers' caps. Those figures were not dated or sourced and have been removed. On October 4, 2026 the AM Best grade was re-checked on F&G's ratings page (A, Stable, as of 3/2026) and the brochure terms were re-read.
What are F&G Power Accumulator rates and surrender charges in 2026? F&G's brochure (revised June 2026) shows historical Power Accumulator 10 rates effective February 2, 2026, such as 140% participation on the BlackRock Market Advantage Index; no current dated rate sheet was verified. Surrender charges start at 9% (PA 7) or 12% (PA 10), declining to 0.
Rates: what F&G publishes (historical only)
| Power Accumulator 10 strategy (1-year point-to-point) | Rate in F&G's illustration (effective 2/2/2026) |
|---|---|
| BlackRock Market Advantage Index | 140% participation |
| Balanced Asset 10 | 95% participation |
| Morgan Stanley US Equity Allocator | 80% participation, 0% spread |
| iShares Core S&P 500 ETF (IVV) | 40% participation |
Current caps, participation rates, spreads and the fixed rate are not publicly disclosed by F&G. Ask for the current rate sheet with its effective date, for your state and premium, before you sign.
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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.
Surrender charges and access (verified)
| Contract year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Power Accumulator 7 | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 0% | |||
| Power Accumulator 10 | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 0% |
| PA 10 in AK, AL, CA, CT, DE, FL (65+), ID, MA, MN, MS, MT, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% | 0% |
- Free withdrawals: 10% of total account value per year, years 2 through the end of the surrender period.
- RMDs above the free amount: surrender charges and MVA waived.
- Health access: home health care, nursing home care and terminal illness access to the total account value without surrender charges or MVA, subject to conditions (not in MA). Terminal illness diagnosis must be at least one year after issue.
- Death benefit: account value, paid as a lump sum to the beneficiaries.
- Minimum guaranteed surrender value: the contract has one; F&G's brochure does not state its formula. It is in the Statement of Understanding (SOU).
- Minimum premium and issue ages: not stated in the public brochure.
Index options: volatility targets and built-in costs
A participation rate is only as good as the index it applies to. Per the F&G Power Accumulator brochure (ADV2295, rev. 06-2026), checked October 7, 2026, the same menu applies to PA 7 and PA 10:
| Index option | Volatility target | Cost deducted inside the index |
|---|---|---|
| Balanced Asset 5 (CIBC) | 5% | 0.85% a year maintenance fee, calculated daily |
| BlackRock Market Advantage Index | 6% | None stated in the brochure; includes a cash constituent |
| Balanced Asset 10 (CIBC) | 10% | 0.85% a year maintenance fee, calculated daily |
| Morgan Stanley US Equity Allocator | 12% | 0.85% a year servicing cost, deducted daily |
| iShares ETFs: Core S&P 500 (IVV), MSCI EAFE (EFA), U.S. Real Estate (IYR), Gold Trust (IAU) | None (not volatility-controlled) | None stated in the brochure |
What the 0.85% does: it is subtracted from the index level, not from your contract, so it never shows on your statement. Hypothetical: if the underlying Balanced Asset 10 portfolio gains 5.85% in a year, the index reports about 5.00%; at the 95% participation in F&G's February 2, 2026 illustration, that credits about 4.75%, or $4,750 on $100,000. In a year the portfolio gains less than 0.85%, the index is flat or down and the credit is 0%.
Power Accumulator 7 specifics: 9%, 9%, 8%, 7%, 6%, 5%, 4% in years 1 to 7 everywhere except Indiana, where year 1 is 10%. F&G's brochure says Fidelity & Guaranty Life does not issue these contracts in New York. If you can commit only 7 years, PA 7 avoids PA 10's 12% first-year charge outside the 21 reduced-schedule states; ask for both rate sheets from the same date to see what the extra 3 years buys.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | B+ | AM Best A (Stable) as of 3/2026; S&P A- (9/2025), Fitch A- (10/2025), Moody's A3 (10/2025), per F&G's ratings page. |
| Rate or cap competitiveness | Incomplete | No current rate sheet is public. The only published rates are historical (effective 2/2/2026). |
| Guaranteed floor | Incomplete | Minimum caps and the minimum guaranteed surrender value formula are not publicly disclosed. F&G's rate page (F&G product interest rates dated April 9, 2026, posted by CreativeOne) footnotes 100% minimum participation on the 1.25% charge strategies and maximum spreads up to 15%. |
| Liquidity | C | PA 7: 7 years from 9%. PA 10: 10 years from 12% (9% in 21 states). MVA in most states. 10% free from year 2, plus health waivers. |
| Costs | B | No rider or annual contract fee is described in the brochure; some strategies can carry a spread (0% on the illustrated Morgan Stanley option). |
| Transparency | C | Surrender schedules and state variations are public; current rates and contract minimums are not. |
| Guaranteed minimum cap | Not publicly disclosed | F&G's rate page lists the iShares Core S&P 500 caps as declared with no stated minimum (F&G product interest rates dated April 9, 2026, posted by CreativeOne). |
| Maximum spread | Up to 15% | 15% on the iShares Core S&P 500 2-year spread strategy, 3.5% to 10% on the others (F&G product interest rates dated April 9, 2026, posted by CreativeOne). |
| Minimum participation rate | 100% (charge strategies) | 100% on strategies with the 1.25% annual charge; no stated minimum on most no-charge 1-year strategies (F&G product interest rates dated April 9, 2026, posted by CreativeOne). |
| Overall | Incomplete | Only three of six dimensions can be graded with confidence from public documents. Get the dated rate sheet and SOU before judging it. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
| Pros | Cons |
|---|---|
| Two term lengths: 7 years (from 9%) or 10 years (from 12%, or 9% in 21 states). | Current rates are not public, so you cannot compare it without an agent's rate sheet. |
| Health access to the full account value without surrender charges or MVA, subject to conditions. | MVA applies with any surrender charge in most states. |
| RMDs above the 10% free amount are not charged. | No free withdrawal in contract year 1. |
| Index losses are not credited; gains lock in each crediting period. | Participation rates apply to volatility-controlled indexes built to move less than the stock market, and several launched in 2019 to 2023 with back-tested history before that. |
Who it's for, and when to look elsewhere
Fits: an accumulation buyer who can leave the money for 7 or 10 years, wants index-linked growth without index losses being credited, and has a current, dated F&G rate sheet in hand to compare.
Look elsewhere if:
- You may need more than 10% in year 1, or a lump sum before the surrender period ends.
- You want lifetime income from a rider; Power Accumulator's brochure describes no income rider.
- You mainly want a known rate. A MYGA locks a declared rate for the term, backed by the claims-paying ability of the issuing insurer. 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: annuity surrender charge calculator and annuity calculator. Related reviews: F&G Power Accumulator 10, F&G Power Accumulator 7, F&G Guarantee-Platinum MYGA and how annuity crediting actually works.
Questions to ask your agent
- Show me the current Power Accumulator rate sheet with its effective date for my state and premium.
- What are the guaranteed minimum participation rates, caps and spreads, and the minimum guaranteed surrender value, in my Statement of Understanding? Please put them in writing.
- Which surrender schedule applies in my state, by year, how does the MVA work today, and what can I take free in year 1?
- Which strategies use a spread, and could the spread rise at renewal?
- How are you paid? F&G's brochure says it pays the agent, factors that into contract pricing, and does not deduct it from premium. What percentage is it on PA 7 versus PA 10, and does the 10-year version pay you more? (Background: how annuity commissions work.)
From my desk
When I review a Power Accumulator illustration, I check the date on the rate sheet first. F&G does not post current rates publicly, so an illustration without an effective date tells me nothing. Then I find the guaranteed column and the state surrender schedule, because PA 10 differs by 3 points in year 1 depending on where you live.
The number buyers misread most on this type of product is a participation rate above 100%. A 140% participation sounds better than the stock market, but it applies to a volatility-controlled index designed to move less, and when that index is flat or down the credit is 0%.
Against a MYGA, I set the guaranteed account value next to a MYGA compounding at its declared rate for the same 7 or 10 years. The FIA has to beat that on reasonable index assumptions, after a surrender schedule that is usually longer, to earn its place.
Hans Goldstein, independent licensed insurance producer, CA license 4273294, NPN 20602398. Not affiliated with F&G. No carrier paid for this review.
Frequently asked questions
What is F&G Power Accumulator?
An accumulation fixed indexed annuity from Fidelity & Guaranty Life Insurance Company, sold as Power Accumulator 7 and Power Accumulator 10 (7- and 10-year surrender periods). It credits mainly through participation rates on volatility-controlled indexes and iShares ETFs, plus one fixed option.
What are the current Power Accumulator rates?
F&G does not publish current Power Accumulator rates on its public site (checked October 4, 2026). Its brochure (rev. 06-2026) illustrates Power Accumulator 10 with rates effective February 2, 2026, for example 140% participation on the BlackRock Market Advantage Index. Those are historical; ask for the dated current rate sheet.
What are the Power Accumulator 10 surrender charges?
12%, 11%, 10%, 9%, 8%, 7%, 6%, 5%, 4% and 3% in years 1 to 10, then 0%. In 21 states, including CA, TX, NJ, PA and FL for ages 65 and up, the schedule is 9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%. Power Accumulator 7 runs 9%, 9%, 8%, 7%, 6%, 5%, 4% (10% in year 1 in Indiana).
How much can I withdraw from Power Accumulator without a charge?
10% of total account value per year, from year 2 through the end of the surrender period. F&G also waives surrender charges and MVA on RMDs above the free amount, and offers home health care, nursing home and terminal illness access subject to conditions (not in MA).
Is F&G a strong company?
F&G's ratings page lists 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) for Fidelity & Guaranty Life Insurance Company. Contract guarantees depend on its claims-paying ability.
Does Power Accumulator have an MVA?
Yes. Any time a withdrawal incurs a surrender charge, an MVA applies, except in AK, AL, CT, ID, IL, MN, MO, MS, MT, OR, PA and WA. If rates have risen since issue the MVA generally lowers the surrender value; if they have fallen it raises it.
Sources (checked October 4, 2026)
- F&G, Power Accumulator brochure, ADV2295 (rev. 06-2026): surrender charges, MVA states, free withdrawals, health access, crediting options, illustration rates effective February 2, 2026, compensation disclosure.
- F&G, About F&G, Our Ratings: AM Best A (3/2026), S&P A- (9/2025), Fitch A- (10/2025), Moody's A3 (10/2025).
- MYGA and CD benchmark: public carrier rate sheets (MYGAs, October 14, 2026) and DepositAccounts (CDs, September 24, 2026).
- Industry data: FIA guaranteed minimum caps across 99 products (contractual minimums from insurers' public documents, October 4, 2026)
Rates are copied from the carrier documents named, with their effective dates; they change often and vary by state and premium. Confirm current rates and read the contract and disclosure before buying. 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.