As key distributors of annuity and life insurance product for many manufacturers, we have the pleasure of meeting with them near the beginning of each year to collaborate on our plans. I thought I would highlight for you the results of our most recent joint session with a company that has undergone some dramatic changes in the last three years, Fidelity & Guaranty Life (FGL).

FGL has made great strides in the years since its sale by Old Mutual. They have maintained and built independent distribution relationships and are innovating new product. We like that the company has reenergized in the past three years, with their competitive product, strong balance sheet and high levels of service. Change has resulted in good things for us and for agents.

FGL plans to experience another successful year of annuity sales after achieving $1.6 billion in 2012, and would love to multiply its life target premium several times. Its current annuity product portfolio contains the very popular Prosperity Elite series, a fixed indexed annuity product in solid competitive position in every category:  death benefit, lifetime income, confinement multiplier, premium bonus, commission and allocation variety. Continued evolution and freshening of product is critical to sales momentum, and we are happy to see FGL’s plans for refreshing the Prosperity Elite, innovating an exciting new approach to GMWB on a fixed annuity in March, and launching a new FIA later in the year. Its attractive cash accumulation FIUL has no per thousand expense charges, leading to large case competitiveness, and has a rolling two-year target for commission flexibility.

For agents who desire to provide for their own retirement through their own sales, the FGL agent deferred compensation program has a storied history. FGL has never contributed less than a $3,000 deposit to qualifiers, and throughout the last six years, a perennially qualifying agent at the minimum level has accumulated more than $78,000 which he/she can direct to any of 16 different investment funds.

We at Creative have enjoyed the long-term relationship with our friends Brian Grigg, John Phelps, and major contributor to the defeat of 151A, Eric Marhoun. During the last three years, we’ve found the benefits brought about by the ownership change with new relationships: Lee Launer, President; Raj Krishnan, CIO; John O’Shaughnessy, Chief Actuary; and Adam Lunardini, our sales rep who can help you directly. This is the kind of partnership that every IMO covets and we hope to maintain it for a long, long time.