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New York Life Introduces Simplified Fixed Deferred Annuity With Competitive Guaranteed Interest Rates

New Secure Term Combines Multiple Period Rate for Term Options in One Product

NEW YORK, N.Y., October 21, 2010 - New York Life Insurance and Annuity Corporation1 today announced the launch of the New York Life Secure Term Fixed Annuity. This product is a fixed deferred annuity, which offers clients a variety of options to choose from including 5, 6, and 7 year periods in which the interest rate guarantee period matches the surrender charge period.2

"In a challenging and uncertain market environment, retirees and investors are seeking safe opportunities for stable growth," said Angela Kyle, senior vice president, Individual Annuity Department, New York Life. "The Secure Term Fixed Annuity is a flexible option for customers that offers a secure place for their money to grow, tax-deferred, and at a potentially faster rate than other taxable investments. At the same time, clients can feel confident that their annuity is backed by the financial strength of New York Life Insurance and Annuity Corporation, which holds the highest possible credit ratings from all four major rating agencies."

The Secure Term Fixed Annuity offers the following features: " A competitive, guaranteed fixed interest rate for five, six or seven years.3 " A 100% money-back premium guarantee that ensures clients always receive back the premium paid for the policy less any previous withdrawals. " Access to 10% of the funds when needed through surrender-charge-free window during each policy year. 4 " A guaranteed death benefit for heirs.5 " The opportunity to generate a stream of income that's guaranteed to last a lifetime.6

The Living Needs Benefit/Unemployment Rider7 is offered at no additional cost and provides access to the money in your policy in qualifying situations. Optional riders are also available with the New York Life Secure Term Fixed Annuity, providing clients with a customizable product designed to meet their unique retirement savings needs.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Please visit New York Life's Web site at www.newyorklife.com for more information.

*New York Life is the largest mutual life insurance company based on the Fortune 500 (based on 2009 revenues) ranked within industries, Insurance: Life, Health (Mutual), Fortune magazine, May 3, 2010.
**New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

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1. New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.
2. There is an 8-year option also available through the Agency channel.
3. Interest rates are effective annual yields. There is an 8-year option also available through the Agency channel.
4. Withdrawals may be subject to regular income tax and, if made prior to age 59½, may be subject to a 10% IRS penalty. Surrender charges may also apply.
5. Death benefit payments are dependent upon the claims paying ability of New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.
6. The amount of the income will depend on the policy's cash value, the age and gender of the policyholder, and the interest rate available at the time the money in the policy is applied toward generating the stream of guaranteed lifetime income.
7. In some states the rider is offered under a different name and benefits may vary.

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New York Life Introduces Simplified Fixed Deferred Annuity With Competitive Guaranteed Interest Rates

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