SecureBuilder 5 (TD Bank) review

It depends on what you are comparing it to. As a bank-channel FIA, it is a reasonable option for someone who wants principal protection and a short commitment without paying for an income rider they do not need. I would not call it best-in-class against open-market FIAs from the same era — bank products typically carry less competitive crediting terms — but if you are a TD Bank customer and a 5-year protected growth vehicle fits your plan, this is a functional product from a carrier with a solid A-rated balance sheet.

The main reason to consider SecureBuilder 5 is accumulation with downside protection through a familiar banking relationship. Someone who already works with TD Bank, does not want to navigate the independent insurance market, and needs a short-term, principal-safe place for a portion of their savings is the natural buyer. The $10,000 minimum is also accessible — lower than many competing FIAs that start at $25,000 or more. The waiver provisions for home health care, nursing home care, and terminal illness add meaningful value at no extra cost, which helps justify the product even if the crediting economics are not market-leading.

I think SecureBuilder 5 (TD Bank) fits best for someone in their mid-50s to mid-70s who wants a conservative, short-term parking spot for money they do not plan to touch for five years. Qualified or non-qualified accounts are both eligible — the issue-age range of 0 to 85 for non-qualified and 18 to 85 for qualified money is notably wide. It is less appealing for anyone whose top priority is maximizing index-linked upside, shopping for guaranteed lifetime income, or who would benefit from comparing open-market rates before committing.

You are not buying stock market exposure. You are buying a fixed insurance contract that credits interest based on index benchmarks, with a contractual guarantee that your principal cannot go below the minimum guaranteed surrender value. The upside is capped or limited by participation rates depending on the strategy you choose. In return, negative index performance does not reduce your account value below zero in a given crediting period. That is the fundamental trade in any FIA — you give up the tail upside of a strong market year in exchange for a floor in a bad one.

SecureBuilder 5 (TD Bank) gives you five crediting options to allocate among: a fixed account, an S&P 500 annual point-to-point with a cap, an S&P 500 annual point-to-point with a participation rate, an S&P 500 performance-triggered option, and the Balanced Asset 5 Index. A minimum of $2,000 must be allocated to each strategy you use.

The S&P 500 cap option credits interest up to a set annual cap if the index finishes higher than it started at the beginning of the year — if it finishes flat or negative, you earn zero for that period, but your principal is protected. The participation-rate option works similarly but instead of a cap, you receive a set percentage of the index's gain. The performance-triggered option credits a fixed rate if the index finishes at or above its starting level — regardless of how much it gained. The Balanced Asset 5 Index is a proprietary multi-asset index designed to reduce volatility, which typically means participation rates may look higher on paper but the index itself tends to produce smoother, more moderate returns than a raw S&P 500 strategy. Rates cited in the spec as of April 2026 range from caps of 8.75-16.00% and participation rates of 45-100% depending on option and premium level — verify current terms with your TD Bank representative before applying.

The chronic illness and waiver provisions deserve attention. SecureBuilder 5 includes waivers for home health care, nursing home care, and terminal illness at no additional rider fee. If you are confined to a nursing home or require home health care for a qualifying period, or if you are diagnosed with a terminal illness, the contract may allow you to access your money without surrender charges. For a bank customer who is not actively shopping for a nursing home benefit but wants a basic safety net built into a short-term accumulation vehicle, this is a meaningful no-cost addition.

After the first contract year, you can withdraw up to 10% of your account value annually without surrender charges or a market value adjustment. That is useful for RMDs or planned distributions. Withdrawals above that threshold are subject to surrender charges of 9% in year one, declining to 5% in year five, then 0% after the surrender period ends.

The MVA — Market Value Adjustment — is worth understanding. It means that if you take a withdrawal above the free amount during the surrender period, the actual penalty may be higher or lower than the stated surrender charge, depending on interest rate movements since the contract was issued. In a rising-rate environment, the MVA works against you. In a falling-rate environment, it can work in your favor. Required minimum distributions attributable to this contract qualify for the free-withdrawal provision, which is important for IRA holders who need predictable annual access.

There is no base contract fee and no rider fee on SecureBuilder 5 — the contract does not offer a living benefit rider to charge for. The cost of this product is implicit rather than explicit: you pay through cap rates and participation rates that are set lower than what you would earn if you held the underlying index directly. That is standard for all FIAs.

The bank-channel distribution introduces a structural tradeoff worth naming. Products sold through bank branches often carry less competitive crediting terms than their open-market equivalents because the bank distribution channel typically absorbs a portion of the economics. If you are comparison shopping, ask to see an equivalent F&G product available through an independent agent and compare the cap and participation rates directly.

Legal Entity: Fidelity & Guaranty Life Insurance Company

Parent: FGL Holdings

A.M. Best Rating: A