Why it earned this rating
Our assessment
ForeInvestors Choice C-Share does the same job as the B-Share — tax-deferred variable investing across 93 subaccounts with a standard death benefit — but removes the surrender schedule entirely in exchange for a slightly higher ongoing cost. That trade is genuinely useful for a certain buyer, which pushes the C-Share a half step above the B-Share's rating. The limitation is that "no surrender charge" doesn't mean "no cost": the 15-basis-point fee premium is permanent, so a long-term holder pays more in aggregate than a B-share holder who simply waited five years.
The short version
This is a variable annuity built for tax-deferred investing where you want the option to exit at any time without a penalty clock. You put money into a menu of market subaccounts, your account value rises and falls with those investments, and the insurance company charges an annual fee for the tax-deferred wrapper and a death benefit. The C-share eliminates the B-share's 5-year surrender schedule in exchange for a 1.15% base annual cost instead of 1.00%. For someone who genuinely needs full liquidity flexibility — or who doesn't know how long they'll stay in the contract — that exchange can make sense. For someone planning to hold the contract for many years, the permanently higher fee typically makes the B-share the better deal.
Key facts
The full review
Is Forethought ForeInvestors Choice C-Share a Good Annuity?
It depends on your time horizon and tax situation. The C-share is a reasonable fit for someone who has already filled their other tax-deferred accounts, wants more market exposure inside an annuity, and isn't certain how long they'll stay invested. The no-surrender feature makes it genuinely flexible. It is a poor fit for someone who wants principal protection, guaranteed income, or who hasn't yet exhausted cheaper tax-advantaged options. And if you're confident you'll hold the contract for five or more years, the B-share's lower ongoing cost almost always wins the math.
Why Someone Would Buy This Annuity
The rational reason to buy this over the B-share is uncertainty about time horizon, combined with still wanting the tax-deferral benefit. Someone who wants tax-deferred market investing but can't commit to a five-year hold — perhaps because their financial picture is still evolving, or they want flexibility for a major purchase or life event — gets the same 93-subaccount platform and tax-deferral wrapper without any surrender clock. Inside the contract, dividends, capital gains, and rebalancing don't trigger annual taxes the way they would in a taxable account. The C-share structure lets you access that benefit without a firm multi-year commitment.
Who This Annuity Is Best For
I think this is best for a mid-career to pre-retirement investor with non-qualified money who has already maxed out their 401(k) and IRA and wants more tax-deferred market exposure — but needs the flexibility to access the full contract value without penalty on a shorter or uncertain horizon. It fits someone working with a commission-based advisor who recommends the C-share class for a client with a shorter expected holding period. It is not appropriate inside an already-tax-deferred account like an IRA, where the wrapper adds cost without adding tax benefit. It is wrong for anyone wanting guaranteed income, a living benefit rider, or downside protection — none of those exist in this product.
What You're Really Buying Here
Strip away the annuity label and this is a tax-deferred investment account with an insurance shell around it — the same core structure as the B-share, minus the surrender schedule. Your money goes into mutual-fund-style subaccounts that move with the markets, exactly like a brokerage portfolio. The insurance company adds tax deferral (gains compound untaxed until withdrawal), a standard death benefit (your beneficiaries get the account value), and the option to convert to a guaranteed income stream through annuitization. What you pay for that shell is the 1.15% annual M&E and administrative charge, on top of each subaccount's own expense ratio. The "C-share" designation means there is no upfront sales load and no exit penalty — the insurance company instead collects more in ongoing charges over the life of the contract. You are buying tax treatment and full liquidity, and the permanent premium in annual cost is the price of that combination.
How the Core Feature Works
The core of this product is the same 93-subaccount menu as the B-share — options spanning equity, fixed income, alternatives, sector funds, and managed-risk strategies, with net expense ratios ranging from 0.21% to 3.29%. You allocate your premium across these subaccounts, and your account value tracks their performance with no cap, floor, or buffer. There is no protection mechanism: a strong year credits the full gain (less fees), and a bad year takes the full loss. Subaccount fees range widely depending on which funds you pick — the cheaper index-style options keep total cost reasonable, while alternative and managed-risk sleeves can be expensive. You get 12 free transfers per year between subaccounts. What the C-share adds is the removal of the surrender schedule: you can take any amount, including the full contract value, at any time without a withdrawal charge. Optional benefits like the Earnings Protection Death Benefit may still have their own terms and conditions, so full-liquidity claims apply to the base contract.
Why the Secondary Feature Matters
The most meaningful secondary feature here is understanding where this C-share sits within the ForeInvestors Choice family. The same chassis is offered in three classes: B-share (commission class, 5-year surrender schedule, 1.00% base cost), C-share (no surrender, 1.15% base cost), and I-share (advisory/fee-based class, lower internal cost, sold through fee-charging RIA). The C-share occupies the middle position: more flexible than the B-share, more expensive on an ongoing basis than the I-share, and available through commission-based distribution without a surrender clock. The second feature worth noting is the optional Earnings Protection Death Benefit. For an additional 0.25% currently (0.50% maximum), this rider adds 35% of account value to the standard death-benefit payout, which can help offset the income tax heirs owe on the gain at death. For buyers with large expected account values and high-income beneficiaries, that enhancement can carry real value.
Liquidity and Surrender Schedule
The defining feature of the C-share is complete freedom from surrender charges. Unlike the B-share's 5-year schedule, the C-share imposes no withdrawal charges on any amount, at any time — 100% of contract value is accessible whenever you need it, and there is no market value adjustment. This is not just a generous free-withdrawal provision; there is no surrender schedule at all. The practical implication is that the contract functions as a liquid, tax-deferred account: you are not making a multi-year commitment to access favorable terms. Required minimum distributions are also surrender-charge friendly (excluding Inherited/Beneficiary IRA plans). The one caveat is that excess withdrawals above the amounts specified in any optional benefit riders may affect those rider benefits, so full liquidity applies to the base contract rather than to elective optional features.
Fees and Tradeoffs
The base cost is 0.95% for mortality and expense (M&E) plus 0.20% for administration — 1.15% total annually on contract value. That is 15 basis points higher than the B-share's 1.00% base, and unlike the B-share's surrender schedule (which ends after year five), this fee premium is permanent for as long as you hold the contract. On top of that sit the subaccount fees themselves, ranging from 0.21% to 3.29% depending on the funds you select — so total annual cost with cheap index options could be around 1.36%, while loading up on alternatives or managed-risk strategies could push costs well above 4%. A $50 annual maintenance fee applies but is waived once contract value reaches $50,000. Certain subaccounts also carry a Fund Facilitation Fee of 0.05% to 0.35% (capped at 0.50%). The optional Earnings Protection Death Benefit runs 0.25% currently (0.50% maximum) if elected. The trade to name plainly: you are paying a permanent 15-basis-point premium over the B-share for the right to exit without penalty. If you hold this contract for ten years, you will have paid roughly 1.5% more in total charges than a B-share holder would have after year five. Whether that is worth it depends on how seriously you value the flexibility.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Variable Annuity |
| Surrender Period | None |
| Issue Ages | 0-85 |
| Minimum Premium | $25,000 |
| Crediting Methods | Variable subaccounts |
| Free Withdrawal | 100% of contract value accessible free of charge at any time (excess withdrawals impact optional benefits) |
| MGSV | N/A |
| Death Benefit | Full account value (standard); Earnings Protection Death Benefit rider (optional) provides 35% of account value less net premiums paid at issue |
| Income Rider | Not available |
| Premium Bonus | None |
| Availability | Variations approved in CA, CT, DC, DE, FL, MT, ND, SD. Not approved in NY. |
Carrier snapshot
Legal Entity: Forethought Life Insurance Company
Parent: Global Atlantic Financial Group
A.M. Best Rating: A
Final take
ForeInvestors Choice C-Share is a reasonable choice for a specific buyer: someone who wants tax-deferred market investing through an annuity wrapper, is working with a commission-based advisor, and values or requires the flexibility to exit without a penalty schedule. The 93-subaccount menu is broad, the no-surrender structure is genuinely useful, and the standard death benefit plus optional Earnings Protection rider give beneficiaries real coverage.
The caution is equally clear: this is not a protection product and not an income product. There is no living benefit, no floor, and no guaranteed rate. The 1.15% base M&E and admin charge is permanently higher than the B-share's cost, and for a long-term holder, that premium accumulates significantly. Anyone who expects to hold the contract for five or more years should compare it directly against the B-share before deciding, because the B-share becomes cheaper after year five and offers the same underlying platform. And anyone shopping for guaranteed income or downside protection should look elsewhere entirely — a fixed indexed annuity, a RILA, or a variable annuity with a living benefit rider would be the more appropriate tool.