Here are some factors to consider when thinking about annuities:
Stability and lower risk.
Some people prefer knowing that they will receive a fixed interest rate and that they are not taking risks with their retirement funds. New York Life offers annuities that guarantee your principal amount, so it never shrinks.
Growth with higher risk.
If you are interested in trying to grow your money, then you may want to consider annuities that move with the market, giving you an opportunity for higher growth.
Fixed deferred annuities
If you prefer not to put your money into the market, these types of annuities provide a steadier, more predictable growth approach to your savings.
If you're looking for a way for your savings to potentially grow in the market and are willing to accept the risk that returns will fluctuate, including a possible loss of principal, this may be a good fit for you.
Work with a financial professional to customize your annuity with these add-ons, which are also known as riders.
Protect your principal.
If you are buying a New York Life Variable Annuity, but would like to make sure you don’t lose money in the market, the purchase of an Accumulation benefit rider1 option will protect your money invested in the first policy year from poor market performance (adjusted for withdrawals). If your account value falls below your initial investment at the end of a holding period, we’ll make up the difference.
Access to your cash.
If you are concerned about unexpectedly needing the policy value of your New York Life Fixed Deferred Annuity, you may want to consider the Living needs benefit. It can help you with certain unexpected needs by enabling you to access cash from your policy without a withdrawal charge.
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1 The accumulation benefit rider, called the Investment Preservation Rider 3.0 (IPR), provides principal protection but does not protect the owner’s investment from day‐to‐day market fluctuations or against losses that could be realized prior to completion of the holding period. If you keep your money invested after the holding period, the annuity’s account value will then be subject to market fluctuation.
Guarantees are based on the claims-paying ability of the issuer.
Annuities contain certain fees, risks, limitations and restrictions; Please speak with a financial professional for costs and complete details.
Withdrawals may be subject to ordinary income taxes and, if made prior to age 59½, may be subject to a 10% IRS penalty; Surrender charges may also apply.
New York Life Annuities are issued by New York Life Insurance and Annuity Corporation (“NYLIAC”), a Delaware Corporation or by New York Life Insurance Company. Variable annuities are offered by NYLIFE Securities LLC, Member FINRA/SIPC. Both NYLIAC and NYLIFE Securities LLC are wholly-owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.
Not all products and riders are available in all states. In most jurisdictions, the form numbers are as follows (state variations may apply): New York Life Secure Term Choice Fixed Annuity is ICC11-P113 ; in some states it may be 211-P113, New York Life Secure Term Fixed Annuity V is ICC17D-P02; New York Life Secure Term MVA Fixed Annuity is ICC10-P111; in some states it may be 210-P111.
Living Needs Benefit/Unemployment Rider is ICC09-R100; in some states it may be 209-100. Living Needs Benefit Rider is ICC17D-R01), IPR 3.0 (ICC16V-R01, or it may be NC16V-R01); New York Life Premier Variable Annuity II (ICC15-P301, or it may be 215-P301); New York Life Premier Plus Variable Annuity II (ICC15-P302, or it may be 215-P302). SMRU 1800154.