Case Study: A 65–Year Old Male or Female
The table below, which is an example intended for illustrative purposes only, shows that, in exchange for $100,000 in premium, a 65-year old could receive $6,111.72 in annual guaranteed lifetime income, which is 6.1% of his or her initial principal. He or she would continue to receive this income for the rest of his or her life — no matter how long he or she lives.
Annual Income1 and Payout Rates2 for $100,000 in Premium
|Age at Issue||Annual Income||Annual Payout Rate|
Are you worried about outliving your retirement savings?
A Lifetime Income Annuity can help take away those worries. In return for a one-time premium payment, New York Life Insurance and Annuity Corporation, a wholly-owned subsidiary of New York Life Insurance company, will guarantee to pay you an income for as long as you live. Up to half of this income may be tax free as a return of basis.
1 Income amounts shown are effective as of 9/10/12. For premiums under $100,000, the annual income is lower. Income amounts are subject to change based on date of purchase. Income amounts shown are for a no refund unisex life annuity and exclude state premium taxes. Life annuities with a minimum guaranteed duration of payments and other features are also available. Such annuities provide a slightly lower annual income.
2 Please note that these rates are payout rates, which include both interest and return of principal. These figures are effective as of 9/10/12. Based on a no refund unisex life annuity policy purchased with $100,000. For other income plans and premiums less than $100,000, the payout rates will be lower. Payouts are subject to change and exclude state premium taxes.
Last updated date 9/6/12
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|Lifetime Income Annuity Annual Income Amounts|