Secure Landing 7 (TD Bank) review

It depends on what you are comparing it to. As a bank-channel product, it is well-structured — the minimum growth guarantee is a genuine differentiator that not all FIAs offer. Compared to the broader open-market FIA universe, the trade-off is that the MIC rider fee (0.40% annually) and the channel restrictions narrow its appeal. For a conservative buyer purchasing through TD Bank who values a guaranteed floor over seven years, this is a solid fit.

The rational case for this product is straightforward: you want to know your money will be worth at least 125% of what you put in after seven years, and you are comfortable with the tradeoff of a modest annual fee and a limited index menu to get that guarantee. The free-withdrawal provisions and hardship waivers add meaningful flexibility for unexpected needs. For a buyer already banking at TD Bank who wants a conservative place to park retirement savings, this is a coherent choice.

I think this product is best for a conservative retirement saver — likely in their 50s or 60s — who is buying through the TD Bank channel, wants protection from index losses, and can commit capital for seven years without needing more than 10% annually. Both qualified and non-qualified money fit. It is not the right product for someone who needs income distributions, wants the highest available cap rate, or is shopping independently outside a bank relationship.

You are buying a principal-protection FIA with a contractual minimum growth floor. The Minimum Interest Credit rider is the core structure — it guarantees your account value grows to at least 125% of premiums paid by the end of the surrender period, calculated at a 1.00% minimum guaranteed interest rate. On top of that floor, you get the chance to earn index-linked credits from the S&P 500 or the Balanced Asset 5 Index, with any credited interest locked in annually and never falling below zero. The trade-off is the 0.40% annual MIC rider fee, which reduces the net growth you keep, and a seven-year surrender schedule if you need to exit early.

The Minimum Interest Credit rider is what distinguishes this product from a plain-vanilla FIA. It credits a minimum guaranteed interest amount each month — calculated as 0.40% of account value divided by 12 — to ensure the account grows toward 125% of premiums by the end of the surrender period. This is guaranteed contractually, not a marketing assumption.

On top of that floor, you can allocate to index-based crediting strategies. The S&P 500 options include an annual point-to-point with cap (9.75% cap as of the brochure's effective date), an annual point-to-point with a 55% participation rate, and a performance-triggered option. The Balanced Asset 5 Index provides a lower-volatility index alternative. There is also a fixed account with a 1.00% minimum guaranteed rate. Index-based interest can never go below zero in any crediting period. Keep in mind that cap rates and participation rates as listed reflect a point-in-time disclosure (January 9, 2026) and will change at renewal.

The waiver provisions are the most meaningful secondary feature here. The contract waives surrender charges and the market value adjustment in the event of confinement to a nursing home, terminal illness, or qualifying impairment. For a conservative buyer who worries about needing access to their money due to a health event, this is a real safety valve. These waivers do not require a separate rider fee — they are built into the base contract. The RMD waiver for qualified accounts also makes this product practical for IRA holders who need to take minimum distributions without triggering surrender charges.

The surrender schedule on this product runs seven years, declining from 9% in year one down to 3% in year seven, then 0% thereafter. The free-withdrawal provision allows 10% of account value annually after year one without charge — and it is flexible enough to take systematically on a monthly, quarterly, or semi-annual basis, or in up to four non-systematic withdrawals per year. That level of flexibility is notable and useful for buyers who want to draw down gradually.

A market value adjustment (MVA) applies to amounts above the free-withdrawal threshold during the surrender period. The MVA can move your surrender value up or down based on interest rate changes at the time of withdrawal. In a rising-rate environment, the MVA can reduce what you receive beyond the published charge, so this product still needs to be treated as a multi-year commitment.

The waiver provisions for nursing home confinement, terminal illness, and impairment provide meaningful liquidity relief in hardship situations without surrender charges or MVA. For RMD purposes, qualified account holders can take required minimum distributions above the free-withdrawal amount without surrender charges — a material benefit for IRA buyers.

The primary visible fee is the Minimum Interest Credit rider at 0.40% of account value annually, charged monthly. This fee is what funds the contractual minimum growth guarantee. It is modest by rider-fee standards, but it is ongoing and will reduce the net index-linked credits you keep over the life of the contract. There is no separate base contract fee disclosed in the available materials.

The structural tradeoffs are cap rates and participation rates that are not market-leading — this is a protection-first product, not a maximum-upside product. The 9.75% S&P 500 annual cap and 55% participation rate reflect the cost of the floor guarantee embedded in the product design. The index menu is also narrower than what you would find in a full open-market FIA platform. For someone who wants to maximize index-linked growth potential, a no-guarantee FIA with a higher cap and no rider fee would likely outperform this product in a bull-market environment.

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

Parent: FGL Holdings

A.M. Best Rating: A