Below you will find answers to some of the most commonly asked questions regarding FSL’s fixed annuity products and processes. If you don't find an answer to your question here, please contact FSL for further assistance.

What annuitization options does FSL offer?

Life Annuity
Annuity payable to the Annuitant for as long as he/she lives.

Certain Annuity
Annuity payable for 5 through 20 years certain. Upon death of the Annuitant prior to the end of the certain period, any payments for the balance of such period will be paid to his/her beneficiary.

Certain and Life Annuity
Annuity payable to Annuitant for as long as he/she lives with a guarantee of payments for 5, 10, 15, or 20 years.

Survivorship Annuity
Annuity payable to Annuitant for as long as he/she lives. Upon his/her death, payment will continue at 100%, 75%, or 50% to the contingent (second) Annuitant.

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Can my client roll their current retirement plan into an FSL annuity?

See Chart

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What are the issue ages?

TaxVantage Consolidator: 18-75 (in Iowa, 18-74)
TaxVantage: 18-70

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Is there a minimum initial deposit?

Yes, the first deposit must be at least:
$10,000 for the TaxVantage Consolidator
$5,000 for the TaxVantage SPDA
$10.00 for the TaxVantage FPDA

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Does FSL allow penalty free early withdrawals?

The TaxVantage FPDA allows an owner to withdraw up to ten (10) percent of the account value within the first year and during subsequent years of the contract without incurring surrender charges. However, such withdrawals are subject to Internal Revenue Code restrictions, excise taxes and penalties applicable to qualified plans and regulations governing IRAs, Roth IRAs and Non-Qualified annuities. Further, the right of withdrawal is non-cumulative.

The TaxVantage SPDA allows an owner to withdraw up to ten (10) percent of the account value after completion of five years of ownership. Ten (10) percent may be withdrawn each subsequent year thereafter. However, such withdrawals are subject to Internal Revenue Code restrictions, excise taxes and penalties applicable to qualified plans and regulations governing IRAs, Roth IRAs and Non-Qualified annuities. Further, the right of withdrawal is non-cumulative.

The TaxVantage Consolidator does not allow early withdrawals without imposition of surrender charges.

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Under what circumstances will FSL waive surrender charges?

If the annuity is in a qualified plan (e.g., 403(b), 457 or 401(k) plan), there is no surrender charge for distribution upon separation of service and if the annuity is being rolled over to another FSL annuity product.

If the annuity is in a 403(b) plan, then upon attainment of age 59-and-a-half.

If the annuity is in a 403(b) or 457 plan, then upon retirement.

If the annuity is in a 403(b) or 457 plan, there is no surrender charge for Transfer/Rollover to a state defined benefit (pension) plan for the purpose of purchasing additional years of service credit.

If the annuity is in a Traditional IRA there are no surrender charges for Required Minimum Distribution disbursements.

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Does FSL offer annuities for SEP and SIMPLE Plans?

None of FSL's current annuity offerings can be used for SEP and SIMPLE Plans.

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Once the surrender period has expired, does a new surrender period ever begin?

No, upon completion of the surrender period, no new surrender period will ever be imposed for the life of the contract.

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How does first-year crediting rate work?

When money is first deposited into the TaxVantage FPDA and the TaxVantage Consolidator, it is guaranteed to receive a fixed rate of interest until the first policy anniversary date, at which time that first deposit may go to a different (portfolio) rate, but will never go below the minimum guaranteed rate.

FSL reserves the right to change its crediting interest rates so that deposits (following the initial deposit) received during the first year of the contract may receive a different crediting rate from the initial deposit crediting rate. This allows FSL to adjust its first-year crediting rate (up or down) depending on economic conditions. At the first policy anniversary date, all first year money will go to a portfolio rate which is never below the minimum guaranteed rate and can also remain the same as the first year crediting rate.

Money deposited into the TaxVantage SPDA will be credited at the same rate until the first policy anniversary date, at which time the deposit may go to a different crediting rate, but will never go below the minimum guaranteed rate.

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Are collateral assignments allowed?

Yes, but only non-qualified annuities may be used as collateral for a loan. A collateral assignment is when the ownership rights in a contract or account are transferred from one person to another to serve as collateral for a debt. This transfer is usually made with the provision that the ownership rights revert to the original owner when the debt is repaid. Please advise your client to consult with a tax advisor. The form for a collateral assignment is on this website.

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Will FSL issue a non-qualified annuity to another party other than the annuitant?

Yes, FSL will issue a non-qualified annuity to a trust. In every instance the annuitant must be a natural person.

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When does crediting of interest begin?

Crediting of interest commences upon receipt and deposit of premium and interest accrues daily. If money has been received, but the paperwork is not yet in good order, then the premium is deposited into a suspense account and interest is credited at the contract rate.

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How long is the “free look” period?

All FSL annuities have a free look period of thirty (30) days. If the customer decides against owning the account within the free look period, all premium received will be returned in full to the customer without interest credited.

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As the producer (agent), when will I be paid a commission?

FSL pays commission on the 15th of every month. The premium must be received at FSL by the 25th of the prior month to allow time for processing.

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Are there any hidden costs or fees?

There are no hidden costs or fees assessed against account owners.

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Are there any bailout provisions?

There are no bailout provisions on any FSL annuity products.

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Where do I send the application and initial premium deposit?

Fidelity Security Life Insurance Company – Annuity New Business
3130 Broadway
Kansas City, MO 64111-2406

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How often are account statements provided to customers?

FSL mails to annuity policyholders account statements semi-annually, late January and late July each year. Account owners may contact FSL directly by phone to learn their account values. At this juncture, on-line reporting of account values is not available.

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Mailing Address

FSL Logo

Fidelity Security Life
Insurance Company
3130 Broadway
Kansas City, MO 64111-2406

Call Toll Free:

1-855-FSL-FIXD
1-855-375-3493

FSL has been rated

A- (Excellent)

based on an analysis of financial position and operating performance by A.M. Best Company, an independent analyst of the insurance industry. For the latest rating, access www.ambest.com