Secure Landing 5 review

It depends on your priorities. For a short-term accumulation buyer who values options across crediting methods, built-in health-event waivers, and a low minimum premium, this is a reasonable choice. It is less appealing if you want a completely fee-free accumulation structure — the MIC rider fee is real and ongoing, even if it is waived when the account value exceeds the MIC value.

The primary reason to consider Secure Landing 5 is the combination of a short 5-year window with genuine crediting flexibility. Buyers who want index-linked growth potential without a long lockup, and who might need health-related early access, will find the waiver provisions more useful than they look on paper. The $10,000 minimum also makes this accessible at premium levels that many larger FIA platforms won't accept.

I think this product fits best for someone in their late 50s to early 70s who wants a 5-year accumulation vehicle, is uncertain whether they might need early access for health reasons, and doesn't want to pay for a lifetime income rider. The qualified and non-qualified availability starting at $10,000 makes it relevant for IRA rollovers of moderate size as well. It is a worse fit for buyers who want a fee-transparent accumulation FIA with no ongoing charges, or anyone whose primary goal is guaranteed lifetime income.

You are buying a principal-protected contract where interest is determined by one of several formulas tied to index performance — not the index return itself. That means caps, participation rates, or performance triggers define the actual upside, and years of flat or negative index performance credit zero interest rather than a loss. In exchange for that ceiling, you get protection from direct market losses. The fixed account at a guaranteed 4.00% minimum is the backstop for any dollars you don't want exposed to index variability.

Secure Landing 5 offers four crediting approaches. The S&P 500 annual point-to-point cap strategy credits interest based on the index gain up to the current cap of 9.50%. The S&P 500 participation strategy credits 50% of the index gain with no cap. The S&P 500 performance trigger credits a declared rate — listed as 6.50% — whenever the index finishes flat or positive, regardless of how much it gained. For buyers who want to use the Balanced Asset 5 Index instead, a 200% participation strategy applies the index's return times two, subject to the volatility controls built into that index, or a performance trigger at 7.75%.

The practical choice is largely about your view on how markets will behave. The cap approach captures annual gains up to a ceiling. The participation-rate approach has no ceiling but only captures half the gain. The performance trigger pays a fixed amount in any flat or positive year — which is useful when markets grind slowly upward but leaves money on the table in strong years. Rates in the spec reflect terms as of January 9, 2026, and can change.

The chronic-illness and nursing-home waivers are the most meaningful secondary feature here. Buyers who are concerned about unexpected health events during a 5-year surrender window get a meaningful safety valve — surrender charges and the MVA are waived for qualifying situations involving impairment, nursing-home confinement, or terminal illness. That is a real differentiator compared to accumulation FIAs that provide only the standard 10% free-withdrawal provision. The Return of Premium rider, included at no additional charge, adds a floor below which the cash surrender value cannot fall below premiums paid less withdrawals.

The free-withdrawal provision allows up to 10% of account value per year after the first contract year — a standard allowance. Withdrawals above that amount during the surrender period trigger charges starting at 9% in year one and stepping down to 5% in year five, with a 0% charge in year six onward.

An MVA — Market Value Adjustment — also applies to surrenders subject to charges. That means a larger-than-expected penalty if interest rates have risen since purchase, because the MVA adjusts the surrender value to reflect the current interest-rate environment. This is a meaningful risk to understand before committing.

RMD withdrawals from qualified accounts that exceed the 10% free-withdrawal allowance will have surrender charges and MVA waived by F&G — a useful provision for IRA owners who face mandatory distributions. California residents face a modified surrender charge schedule.

The MIC — Minimum Interest Credit — rider carries a 0.40% annual fee calculated as a percentage of account value, charged monthly. The fee is waived in any month where the account value exceeds the MIC value, which limits the drag in well-performing years but does not eliminate the fee structurally. For an accumulation-focused FIA where no living benefit is provided, this is a cost worth accounting for when comparing against plain-accumulation alternatives with no base fee.

The base contract has no additional annual fee beyond the MIC. The MVA applies on top of surrender charges for early departures. The Balanced Asset 5 Index, like most proprietary volatility-controlled indices, embeds its own cost structure within the index methodology, which affects how much of the stated participation rate translates into credited interest.

Legal Entity: Fidelity & Guaranty Life Insurance Company, Des Moines, IA

Parent: FGL Holdings

A.M. Best Rating: A

F&G has built a mid-sized but focused annuity platform under FGL Holdings. The A.M. Best A rating is noted in the source materials, though that rating should be independently verified before purchase as it can change.