F&G Safe Income Plus FIA Review (2026) — Income Rider Variant
Quick take: Safe Income Plus pairs F&G's accumulation base with a GLWB income rider. Higher rider fees, guaranteed income rollups, lower account value caps than Power Accumulator.
Ratings (independent third-party)
| Rating Agency | Grade |
|---|---|
| AM Best | A- |
| S&P | A- |
| Moody's | Baa1 |
| COMDEX (composite, 0-100) | 78 |
Hans is independently licensed and is NOT specifically appointed to discuss or sell Fidelity & Guaranty Life products. Reviews are based on publicly available rate sheets, prospectuses, AnnuityRateWatch listings, and carrier filings.
Current rates / caps (as of June 2026)
Account value 1-yr cap: ~5.5%
Bonus: 10% benefit base bonus + 7% rollup options
Surrender schedule: 10-year declining schedule
What we like
Competitive benefit base bonus + rollup vs Allianz 222 at lower carrier rating tier; guaranteed income; F&G institutional ownership via FNF
What we don't
A-/A- rating is below A+ peers (Allianz, Athene); rider fee ~1%/yr eats account value; benefit base ≠ cash value confusion
Who this is best for
Income-deferred buyers who want guaranteed lifetime income at a lower-rated carrier in exchange for higher bonus + rollup
How Safe Income Plus FIA stacks up vs the field
If you're shopping this product, you should also be looking at:
- See Best MYGA Rates 2026 for current top-of-market multi-year guarantee rates
- See Best FIA Caps 2026 for top accumulation FIA caps
- Read about the Goldstein Complexity Index to compare product complexity scores
- Check Renewal Rate Integrity to see why teaser rates often collapse at renewal
Bottom line
Safe Income Plus pairs F&G's accumulation base with a GLWB income rider. Higher rider fees, guaranteed income rollups, lower account value caps than Power Accumulator. If this product is on your shortlist, get a second opinion before signing — most agents only sell one or two carriers and will frame whatever they sell as "the best." We don't.
About Hans Goldstein: Independent retirement income specialist. CA Life License #4163961. NPN #20602398. Reviews 30+ carriers. Phone: 213-414-2808. Email: hans@goldsteinco.net.
🧮 Goldstein Complexity Index
A core part of every Goldstein review. The more complex an annuity, the worse the rating in this dimension — because complexity is where buyers get burned (confusing riders, fee structures hidden in plain sight, surrender penalties that surprise people, separate "benefit bases" they thought were cash). Simple products (SPIAs, MYGAs) score low; products with stacked bonuses + income riders + MVA + multiple crediting strategies score high.
This product's score: 67/100 — Grade C (Complex)
Bonus with recapture + income rider + MVA + multiple crediting. Most buyers don't fully understand what they own. Mis-selling is common.
Score breakdown
| Dimension | Score (1–10) | What this measures |
|---|---|---|
| Riders | 8/10 | Number of optional/required riders (income, death benefit, LTC, etc.). More riders = more fees + more confusion. |
| Crediting strategies | 6/10 | Number of index-linked strategies (cap, spread, participation rate, step rate, volatility-controlled indices). More options = harder to understand. |
| Surrender complexity | 5/10 | Length of surrender period + MVA + bonus recapture interaction. Longer + MVA + recapture = more confusion. |
| Benefit-base separation | 10/10 | If the product has a separate "PIV" or income-base that is NOT cash but feels like cash. This is the single biggest source of buyer confusion in the industry. |
| Bonus structure | 6/10 | Premium bonus with recapture schedule. The bonus is real, but the recapture is complex. |
How to read this
- A+/A (0–40): You can understand what you bought. Pure accumulation FIA, MYGA, or SPIA. Low risk of mis-selling.
- B (41–60): You need to read the contract carefully and have a second-opinion review before signing. Income riders add the most confusion.
- C (61–80): Many buyers don't fully understand what they own. Common mis-selling: "bonus" sold as cash, "benefit base" sold as account value, surrender charges undisclosed.
- D (81–100): Demands an independent producer second opinion before signing. The product may still be right for you — but the chance you'll later say "I didn't know it worked that way" is very high.
Why complexity matters more than people think: Carriers don't get sued for complexity. Agents don't get sued for it either (in most states). But buyers regret it constantly. The annuity that wins your money in year one and confuses you for the next 14 is worse than a simpler product that you understood perfectly. Simple ≠ inferior. Simple = audit-able.
Explain it like I'm 12 — how an FIA actually works
A Fixed Indexed Annuity (FIA) is a contract where the carrier credits you interest based on stock market index performance — but caps your upside AND protects your downside. You can never lose money from market drops; you also won't get the full upside in big bull years.
The math:
- Put $100,000 in an FIA with a 7% annual point-to-point cap on the S&P 500
- S&P returns 12% over the year: you get capped at 7% = $7,000 credited
- S&P returns 4% over the year: you get the full 4% = $4,000 credited
- S&P returns -20% over the year: you get 0% (principal protected)
The "fees" are hidden in the structure:
- No explicit fee on accumulation-only FIA (no income rider)
- The carrier funds your principal protection by capping your upside
- Surrender charges 7-15 years if you withdraw early
- 10% free withdrawal per year typically
Quick FIA FAQ
Q: Will the cap rate change after I buy?
A: Yes. Cap rates RENEW annually within contract minimums. The 7% cap you see at purchase can drop to 4% over time. Read the minimum guaranteed cap in your contract.
Q: Why is my cap lower than my friend's FIA?
A: Carriers trade cap rate for other features — premium bonus, longer surrender, income rider, brand prestige. Two FIAs with similar "headlines" can have very different actual structures.
Q: What is the "minimum guaranteed cap"?
A: The lowest the carrier can set the cap on your contract. Common minimums: 1-4%. If the minimum is 1%, your worst-case credited return is essentially 0% real after inflation.
Q: How are FIA gains taxed?
A: Tax-deferred during accumulation. At withdrawal: gains taxable as ordinary income. 10% IRS penalty on gain portion if withdrawn before 59½.
Q: Can I lose money?
A: Not from market drops (principal-protected). You CAN lose money from early surrender (penalty) or MVA adjustments. Stay to surrender period end = no loss possible.
Q: How long is the surrender period?
A: Varies — 7 years (Athene PEC 7 Plus), 10 years (most), 14-15 years (bonus products). Longer surrender typically buys you better caps or higher bonus.
Q: What's the difference between cap, participation rate, and spread?
A: Cap = maximum credited. Participation rate = % of index move credited. Spread = % subtracted from index move. Some products combine multiple. See How Annuity Crediting Actually Works.
Q: Should I add an income rider?
A: Only if you'll activate it for guaranteed lifetime income. Rider fee (0.85-1.50%/year) charged annually whether you use it or not. Many buyers pay rider fees for years and never activate.
📩 Get a second opinion before you sign — this is a big decision
Talk to a licensed independent expert. Hans.
Fixed indexed annuities are committed for 7-15 years. Cap rates renew annually and can drop. Income riders have separate benefit bases that aren't cash. Get an independent review before you commit your retirement savings to a multi-year contract.
Drop your info — within 24 hours, you'll get a written independent review of your quote, side-by-side comparisons vs. 2 alternatives, and a no-pressure 15-minute call if you want one.
📞 Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review reflects publicly available product materials and approximate rates as of the date stated above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change frequently — typically monthly. Always confirm current values against the most recent carrier disclosure document and the actual contract before purchasing. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers across the annuity and long-term care insurance market; the producer's specific appointment status with the carrier discussed in this review may vary, and this review is not an endorsement or representation of carrier appointment. No compensation has been received from any carrier in connection with the publication of 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.