Historic payout reflects our commitment to the annuity business and to policy owners.
New York Life’s 2017 dividend declaration is an historic event.
Not only is it the 163rd consecutive year of paying dividends on our life insurance policies, but this year marks the very first time we are paying a dividend on our Mutual Income Annuity.
Mutual Income Annuity policy owners are eligible for dividends beginning with their second policy anniversary. In 2017, the first purchasers of those policies will reach their second anniversary and receive a dividend for the first time. We’re proud to deliver on the goals that were established when the annuities were purchased, in their first year of dividend eligibility.
Why is this important to clients?
The declaration of the 2017 dividend:
- Reaffirms the importance of being with a mutual life insurance company
- Delivers on the value proposition inherent in the Mutual Income Annuities: guaranteed income* with the potential for more income through dividends
- Confirms our commitment to our clients
- Demonstrates the strength and stability of New York Life
- Solidifies an even deeper level of trust in those who own a Mutual Income Annuity
More products paying dividends than ever before.
2017 also marks the first year that three of our business lines—Life Insurance, Long-Term Care, and Retail Annuities—offer participating products. New York Life enjoys its industry-leading financial strength** and a diversified mix of complementary businesses.
As a mutual company, every single dollar of value we create is carefully managed with the long-term interest of our policy owners in mind—whether it’s through paying policy owner dividends, investing in growth, or adding to our long-term financial strength to ensure we can continue to keep our promises for years to come.
How dividends from annuities differ from New York Life’s participating life insurance products.
Please note that the company’s previous history of dividend declarations and payments has primarily been in connection with its participating life insurance business. Mutual Income Annuities are participating annuity products, meaning they are also eligible to
receive dividends when they are declared. However, the dividend scale for Mutual Income Annuities is not based on or related to the life insurance dividend scale. Mutual Income Annuities are new, and have no previous dividend history. Annuity premiums are invested in a portfolio that is separate and distinct from the existing life insurance portfolio. You should not compare the dividend-paying history of our life insurance policies or use that history in your decision to purchase this annuity. Our life insurance and annuity dividend scales are based on different methodologies. Note, dividends are not guaranteed for participating life insurance products or annuity products.
Please refer to your agent for more information.