What is a Fixed Annuity?
Whether you’re heading for retirement or you’re already there, a fixed deferred annuity from New York Life is designed to help you grow and protect your funds.
With a fixed deferred annuity, your money will grow tax-deferred at a guaranteed fixed rate of interest. This means you’re not subject to the volatility of the market, and you won’t pay taxes on your earnings until you actually withdraw them from your policy.1
New York Life offers several traditional fixed deferred annuities as well as the unique New York Life Clear Income Fixed Annuity that’s designed for people looking for income with some liquidity.
More information regarding the New York Life Clear Income Fixed Annuity can be found in the Clear Income Benefits Brochure.
For specific information on one of our fixed annuity products, select a file below to view a detailed fact sheet.
- New York Life Secure Term Choice Fixed Annuity allows you to lock in an attractive interest crediting rate for a selected period of time. You may choose from a range of interest rate guarantee periods, including three, five, six, seven, or eight years.
- New York Life Secure Term MVA Fixed Annuity allows you to lock in an attractive interest crediting rate for a selected period of time and also comes with a Market Value Adjustment (MVA) provision that allows NYLIAC to offer a potentially higher initial interest rate.
- New York Life Preferred Choice Fixed Annuity provides an initial guaranteed interest rate for either one or three years, after which your rate will be determined annually.
- New York Life Flexible Premium Fixed Annuity gives you the flexibility to invest multiple premiums into your account.
- New York Life Clear Income Fixed Annuity comes with a Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider designed for clients who are looking for income with some liquidity.
- New York Life Fixed Deferred Annuity Riders provide additional benefits to your annuity. Some are free and automatically included, while others are optional for an additional charge.
1All guarantees are based on the claims-paying ability of NYLIAC. Withdrawals are subject to ordinary income tax, and if they are taken before 59½, an additional 10% IRS penalty may apply (the penalty tax is increased to 25% in the case of distribution from a SIMPLE IRA within the first two years of your participation in the SIMPLE IRA plan.)
In most jurisdictions, the policy form numbers are as follows: New York Life Flexible Premium Fixed Annuity (ICC10-P108; in some states it may be 210-P108 and state variations may apply); New York Life Secure Term Choice Fixed Annuity (ICC11-P113; in some states, it may be 211-P113 and state variations may apply); New York Life Preferred Choice Fixed Annuity (ICC11-P116; in some states, it may be 211-P116 and state variations may apply); New York Life Secure Term MVA Fixed Annuity (ICC10-P111; in some states it may be 210-P111 and state variations may apply); New York Life Clear Income Fixed Annuity (ICC14-P100 (book value) and ICC14-P120 (MVA); in some states they may be 214-P100 (book value) and 214-P120 (MVA), and state variations may apply).
Questions about this article or about New York Life, our subsidiaries and the products that we offer? Please call this toll-free number 800-710-7945 to arrange for a discussion with a New York Life agent or a NYLIFE Securities LLC financial services professional.
This material is for informational purposes only. Neither New York Life nor its agents provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
Issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.