Originally published 9/9/2019.
With 10,000 Americans retiring each day, many worry about how to protect themselves from outliving their savings. Due to increased longevity and the decline of traditional employee pension plans, you need to be prepared for a 20, 30, or even 40-year retirement. Income annuities can help by generating a guaranteed income stream that can last for the rest of your life, no matter how long you live. In fact, some annuities have the potential to generate additional income and create an even larger financial safety net. This leads to greater peace of mind and confidence to meet the financial risks in retirement and live out your golden years the way you always dreamed about.
Helping individuals establish a reliable and steady stream of income is what New York Life has done for generations of Americans. As the number one provider of income annuities in the United States since 2006, according to LIMRA, New York Life is at the forefront of helping people live more comfortably and confidently in retirement. In 2018, industry sales of Guaranteed Income Annuities, which is comprised of Single Premium Income Annuities (SPIA) and Deferred Income Annuities (DIA) was just shy of $12.00B with New York Life as the market leader with 23% of overall sales, according to LIMRA.
“It’s pretty simple really, if you’re wondering how to generate steady, reliable source of income for life, with the potential for some additional income, our mutual income annuity could be your answer.” -Dylan Huang, Head of Retail Annuities
New York Life also just crossed $1 Billion in sales for our Mutual Income Annuities, which, like a standard income annuities, creates guaranteed income that never goes down for the remainder of your life. In addition, each year there’s an opportunity to receive a dividend as well as the guaranteed income. New York Life has declared dividends every year since Mutual Income Annuities were made available in 2015. According to Dylan Huang, Head of Retail Annuities at New York Life, “It’s really gratifying to help create a more secure retirement for people with our mutual income annuity, and to take it a step further, it’s even more of a boost for us and for clients when we can provide a higher-than-illustrated dividend payment as we did in 2019 for most of our clients.” Huang continues, “it’s pretty simple really, if you’re wondering how to generate steady, reliable source of income for life, with the potential for some additional income, our mutual income annuity could be your answer.”
Learn more about retirement solutions that can help secure your financial future by contacting a New York Life agent.
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Dividends are not guaranteed.
Mutual Income Annuity products are issued by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. All guarantees are dependent on the claims-paying ability of the issuer. Available in jurisdictions where approved.
The policy form number for the New York Lifetime Mutual Income Annuity is 214-P200. The policy form number for the New York Future Mutual Income Annuity is 215-P200. State variations may apply.