Why it earned this rating
Our assessment
SecureFore 3 is a structurally sound 3-year MYGA — competitive guaranteed rate, clean free-withdrawal provision, meaningful waivers, and a full account-value death benefit, all with no contract fees. The Wells Fargo distribution restriction and extremely narrow state availability hold it a step below the open-market version of the same product, which is what the channel penalty is there for. For a buyer who can actually access it, the product is more than adequate for a short-term principal-protection role.
The short version
This is a 3-year fixed-rate annuity that locks in a guaranteed rate for the full surrender period, sold exclusively through Wells Fargo. The appeal is straightforward: you put in a lump sum, you earn a set rate for three years, and at the end you get everything back plus the interest, with no fees eating into the return. The catch is that getting to year 3 is the whole point — early surrenders carry real charges of 7-8%, and the product is approved in only a handful of states. If you are already in the Wells Fargo ecosystem, have money you genuinely do not need for three years, and want certainty over upside, this is a clean fit.
Key facts
The full review
Is Forethought SecureFore 3-Year (Wells Fargo) a Good Annuity?
It depends on whether you can access it and whether a 3-year lock-in fits your situation. For the buyer who qualifies — a Wells Fargo client in an approved state with genuinely idle money for three years — this is a solid, no-frills MYGA backed by an A-rated carrier. For anyone else, the channel and state restrictions make it a non-starter regardless of the rate. The rates shown in the brochure (3.90% for some tiers, 4.10% for others, as of April 2026) are competitive for a short-duration product, but rates are snapshots and should be confirmed directly.
Why Someone Would Buy This Annuity
The primary reason is certainty. A MYGA buyer is typically not looking for index-linked upside or a complex rider structure — they want to know exactly what rate they will earn and that the principal is safe. SecureFore 3 delivers that. The three-year window is short enough that many buyers can plan around it without disrupting their broader retirement strategy. The secondary reason might be the nursing home or terminal illness waiver, which gives an exit valve for buyers who are concerned about health-related liquidity needs before the surrender period ends.
Who This Annuity Is Best For
I think SecureFore 3 (Wells Fargo) is best for a retiree or near-retiree in the mid-to-late 60s who is already working with a Wells Fargo advisor, has a defined lump sum that is not needed for at least three years, and wants a guaranteed return without any market exposure or rider complexity. Qualified money in an IRA rollover is a common fit for this type of product. It is less well-suited for anyone who might need more than 10% of the contract value before the three years are up, for buyers outside the approved states, or for anyone shopping the open market for the best available MYGA rate across multiple carriers.
What You're Really Buying Here
You are buying a contractual guarantee from a life insurance company. Forethought agrees to credit a declared fixed rate on your premium for three years in exchange for keeping that money committed. There are no indices, no caps, no participation rates — just a rate that does not change. That simplicity is the point. The guarantee is only as strong as the carrier behind it, which is why the A (Excellent) A.M. Best rating on Forethought Life Insurance Company matters. What you are not buying is upside beyond the declared rate or flexibility to leave early without cost.
How the Core Feature Works
At issue, Forethought declares a fixed interest rate that will apply for the full three-year surrender period. That rate does not reset annually, does not fluctuate with index performance, and is not subject to caps or spreads. Your account value grows by that rate each year, compounding on the prior year's balance. At the end of year three, surrender charges drop to zero and you can take the full accumulated value without penalty. The brochure references two rate tiers — 3.90% and 4.10% as of April 2026 — which likely correspond to premium amount or contract type, though the specific tier thresholds should be confirmed with your advisor. Rates are snapshots; the rate in effect when your contract is issued is the one that governs.
Why the Secondary Feature Matters
The terminal illness and nursing home waivers are the most meaningful secondary features here. A short-duration MYGA buyer's biggest liquidity concern is usually a health event that forces them to access funds before the surrender period ends. With SecureFore 3, if you are diagnosed with a terminal illness or spend 90 or more consecutive days in a nursing home, the withdrawal charges are waived — which significantly reduces the risk of a bad outcome in a worst-case scenario. These waivers apply after the first contract anniversary for the terminal illness provision. The optional Return of Premium rider is also worth noting: at issue you can elect a provision that guarantees your surrender value will never fall below the original premium minus withdrawals, which provides a floor on your downside even if you need to exit early.
Liquidity and Surrender Schedule
This is a 3-year product with real exit costs if you leave early. The surrender schedule — 8% in year 1, 8% in year 2, 7% in year 3, then 0% — is toward the stiffer end for the 3-year MYGA peer group. There is no market value adjustment on this contract, which simplifies the math somewhat. You know exactly what the exit cost is regardless of the rate environment.
The 10% free-withdrawal provision provides meaningful relief. In year 1 you can withdraw up to 10% of premiums paid without charge; from year 2 forward the free amount is 10% of the beginning-of-year contract value. That is enough to handle most RMD obligations and gives some flexibility for unexpected cash needs below that threshold. The death benefit is also clean — full account value passes to beneficiaries without surrender charges, which protects the commitment from creating an estate problem.
| Contract Year | Surrender Charge |
|---|---|
| 1 | 8% |
| 2 | 8% |
| 3 | 7% |
| 4 | 0% |
Fees and Tradeoffs
There are no base contract fees on SecureFore 3. No annual administrative charges, no M&E, no rider fee unless you elect the optional Return of Premium rider — and the brochure does not disclose a cost for that rider, so confirm the details at application. The only implicit cost is the spread between what Forethought earns on the underlying portfolio and the rate it credits to you, which is standard for all fixed annuities and fixed-rate instruments.
The main tradeoffs are structural. The rate is fixed but also gives you no upside beyond what was declared. If market rates rise significantly during your three years, you will have left money on the table versus a ladder of shorter-term instruments. The 8/8 surrender schedule means the cost of being wrong about your liquidity needs is real. And the narrow state availability means this is not a product you can simply compare against the open market on equal terms — if your advisor cannot contract through Wells Fargo or if you live in one of the many excluded states, this product simply is not available to you.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Annuity |
| Surrender Period | 3 years |
| Issue Ages | 0-85 |
| Minimum Premium | $10,000 |
| Crediting Methods | Fixed declared rate |
| Free Withdrawal | 10% of premiums paid annually (10% of Annuity Deposit in first year); after first contract year, can withdraw 10% of beginning-of-year contract value |
| MGSV | 87.5% of premiums at 1-3% |
| Death Benefit | Full account value, no surrender charges apply |
| Income Rider | Not available |
| Premium Bonus | None |
| Availability | Must be contracted through Wells Fargo to sell this product. Available in most states except AK, AL, AR, AZ, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY. New York not approved. |
Carrier snapshot
Legal Entity: Forethought Life Insurance Company
Parent: Global Atlantic Financial Group
A.M. Best Rating: A
Final take
SecureFore 3 through Wells Fargo is a clean, no-fee MYGA for buyers who want a 3-year rate lock and nothing more complicated than that. The product structure is solid — competitive rate, meaningful waivers, full account-value death benefit, no fees. If you are in the Wells Fargo ecosystem and in an approved state with genuine 3-year money, it is worth comparing this rate against what the open MYGA market is offering at the same duration.
The limitations are real. The channel restriction means you either work with Wells Fargo or this product does not exist for you. The state approval list is short enough that most readers will find themselves in an excluded state. And the 8/8 surrender schedule makes any early-exit scenario materially costly. For the buyer it fits, it works. For everyone else, the first step is checking whether your state is approved at all.