new york life fixed annuity brochure

Wherever you are on your financial journey, here are six ways to help increase your financial literacy and put your money to work for you and your family. More dividends to eligible Whole Life policy owners. Financial Hardship Terms and Conditions General (All States Including NY and NJ if enrolled on 10/1/2020 or later), Financial Hardship Terms and Conditions NY/NJ (if enrolled prior to 10/1/2020). We will determine the length of your repayment period and the monthly repayment amount. Clients should consider the charges, risks, expenses, and investment objectives carefully before purchasing a variable annuity. Yields assume no additions or withdrawals made during the guaranteed period. A Market Value Adjustment (MVA) is a positive or negative adjustment to the policy's accumulation value or the amount received in a withdrawal, when a partial withdrawal or full surrender is made during the surrender charge period and the withdrawal or surrender exceeds the policy's surrender charge free withdrawal amount. All annuity guarantees are subject to the financial strength of the insurance company. The S&P 500, Russell 2000 and MSCI EAFE are price return indices and do not include the impact of dividends. (A Delaware Corporation) andOffered by: NYLIFE Securities LLC*, Member FINRA/SIPC The interest rate will never be more than the maximum loan interest rate stated in your policy. In most jurisdictions, the rider form number for the Living Needs Benefit/Unemployment Rider is ICC09-R100; in some states it may be 209-100, and state variations All early access withdrawals will reduce the Guaranteed Lifetime Withdrawal Benefit (GLWB) amount. NYLIFE Distributors LLC, Member FINRA/SIPC, is the wholesale distributor and underwriter for these products. Learn more about New York Life Annuities. Athene USA The total outstanding loan balance, which includes accrued loan interest, reduces your policys available cash surrender value and any life insurance benefits paid. All you need is an internet connection. All the forms and insights you need all in one place. To learn more about the policy, you may also download the Statement of Additional Information ("SAI") dated May 1, 2023. If you have elected to have premiums automatically paid by policy loan and there is sufficient loan value, a policy loan will automatically be taken from your policy to pay the monthly repayment amount due. The repayment plan does not include any payments into the Option to Purchase Paid-up Additions (OPP) rider that were not paid. Policies with premium amounts of $1 million or more require prior NYLIAC approval. In most jurisdictions, the policy form number for the New York Life Flexible Premium Fixed Annuity is ICC10-P108; in some states it may be 210-P108, and state variations may apply. After income starts, any withdrawal (including applicable Market Value Adjustment and surrender charges) that exceeds your GLWB amount will reduce income guarantees proportionally. With inflation rising at its fastest pace in 40 years, consumers may be looking for a retirement product that guarantees growth to help offset increasing costs. Policy loan interest is due on the dates specified in your policy. New York Life Secure Term Fixed Annuity V. Rates are effective as of {date} and are subject to change at any time. Interest is credited to your annuity with either a Multi-Year Fixed Strategy or a 1-Year Fixed Strategy. Index annuities like Power Index 5 NY can protect assets from interest rate risk and market fluctuations, while providing the opportunity to generate more income, said Pinsky. Athene Holding Ltd. (Athene) is a leading retirement services company that issues, reinsures, and acquires retirement savings products. 2023 New York Life Insurance Company, New York, NY. The policy form number for the New York Life Secure Term MVA Fixed Annuity II is ICC10-P112 in most jurisdictions; in some states, it may be 210-P112, and state variations may apply. What are the benefits of working with a financial professional versus online? Policies with premium amounts of $1 million or more require prior New York Life Insurance and Annuity Corporation approval. To receive the latest version of the annuity brochure for your state call 800-872-6684. A reputation built on integrity. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Payment obligations and guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. The repayment plan does not include any payments into the Option to Purchase Paid-up Additions (OPP) rider that were not paid. Your policy will enter the late period and lapse in accordance with its terms if: For policies with more than one owner, any owner(s) that did not provide their approval at the time of election have the right to rescind enrollment. Proof of job loss, including notice of termination or confirmation of unemployment benefits, Proof of income loss, including pay statements, tax returns, attestation of income loss from an attorney, accountant, or tax advisor, Proof of illness and/or caretaker status, including medical payments or a physicians statement. _________________________________ This repayment plan gives you the ability to pay the scheduled premiums, or the Monthly Deduction Charges that were due but not paid during the temporary pause on policy cancellations that prevented your policy from lapsing for 90 days plus an amount to keep your coverage in force for an additional two months (total repayment amount). When you have one, you basically get a steady "paycheck" for the rest of your lifeso you can worry less about managing your money and focus more on living your life. Annuities contain certain fees and charges and there are risks, restrictions, and limitations to consider. Reinsurers may not be licensed in all states. Please post your comment or question. Money and paperwork must be received at the lockbox no later than 30 days after the application signed date. 2000-2023. Additional premiums are not permitted. It's completely safe we never publish your email address. All Rights Reserved. Athene MaxRate MYG (09/15); Athene MYG Series MYG (09/15), ICC15 MYG NMV (09/15) ICC17 ROP (08/17) or state variations issued by Athene Annuity and Life Company, West Des Moines, IA. The Product is not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the LSE Group). A fixed annuity is a tax-deferred financial tool that can be immediate or deferred. Before your first monthly payment is due, we will send you the total repayment amount, your repayment period (12 or 24 months), and the monthly repayment amount. Withdrawal any amount free of charges and fees. State variations may apply and benefits may vary. AIG Life & Retirement Introduces 5-Year Index Annuity for New York The New York Life Secure Term MVA Fixed Annuity II is issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Ave, New York, NY 10010. An Athene Financial Professional can help find the product thats right for you. After this period, you will be automatically enrolled in a program that allows you to re-pay the amount that would have been due to keep your policy active (the total repayment amount). Minimize Market Risk with a Fixed Index Annuity, Complete List of Fixed Index Annuity Brochures (All Companies). Please call your representative for current interest rates on premium amounts of $1,500,000 or more. Annuity contracts and group annuity contracts are issued by Athene Annuity and Life Company (61689), West Des Moines, IA, and Athene Annuity & Life Assurance Company (61492), Wilmington, Delaware, in all states (except New York), and in D.C. and PR. We didnt ask for a dime. . Account How-To Videos. Account How-To Videos. Investments and insurance products are: Not FDIC/NCUA Insured | Not Insured by Any Federal Government Agency | Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any of its Affiliates | May Lose Value. I am interested in learning all about annuities. (Allowed tags: ). This notice does not apply in the state of New York. We encourage you to send documents by uploading or faxing them. All rights reserved. Proof of this financial hardship can include any of the following: Documents showing proof of financial hardship can be uploaded below or sent to New York Lifes Service Center by sending a fax to 800-278-4117 or sending an e-mail tomyinfo@newyorklife.com. For transfers/exchanges , applications MUST be signed and dated PRIOR to the date of change. This material is being provided for informational purposes only, and was not prepared, and is not intended, to address the needs, circumstances and objectives of any of individual or groups of individuals. Retirement budgetingManage retirement spending. You want to provide your family with financial protection and peace of mind. (M-F, 9-5 EST), Important Notice: The information published at this web site is not intended to be a recommendation to purchase an annuity. Earn a guaranteed rate of interest regardless of market conditions. premium fixed deferred annuity with a number of interest rate guarantee/surrender periods to choose from. Accelerated PIV Interest Bonus Option. Withdrawals may also be subject to a withdrawal charge that begins at 8% and declines to 0% after five years. We believe in the value of human guidance. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. All Rights Reserved. Both NYLIAC and NYLIFE Distributors LLC are wholly-owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Details on each Portfolio's investment objective, style and associated risk will be found inside. Paperwork MUST be received IN GOOD ORDER at the lockbox within 30 days of the application signed date. On December 17, 2012, SLF announced the execution of a definitive agreement to . Our tools help financial professionals lay a solid retirement foundation. Earnings are taxable as ordinary income when distributed. This repayment plan gives you the ability to pay the scheduled premiums, or the Monthly Deduction Charges that were due but not paid during the temporary pause on policy cancellations that prevented your policy from lapsing for 90 days plus an amount to keep your coverage in force for an additional two months (total repayment amount). Our tools help financial professionals lay a solid retirement foundation. Fidelity and Guaranty of New York's Ratings. PDF Fixed 5 Annuity Fixed 7 Annuity - The Annuity Expert Money and paperwork must be received at the lockbox no later than 30 days after the application signed date. Fixed interest. INVESTMENT AND INSURANCE PRODUCTS ARE: The product and fund prospectuses contain this and other information and can be obtained from a financial professional. For New York residents. Literature | New York Life Annuities Insurance companies often issue contracts which are 'state-specific.' Kai's Journey. Brochure Disclosure: The contract features described in all brochures on this website may not be current and may not apply in the state in which you reside. You pay the monthly repayment amount due but the cash surrender value is not sufficient to cover the Monthly Deduction Charges that will be charged for the following month. New York Life Variable Annuities are issued by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware Corporation. For more complete information, please refer to the New York Life IndexFlex Variable Annuity-FP Series Prospectus. Quentin McMillan (Investors): quentin.mcmillan@aig.com Guarantees are based on the claims-paying ability of the issuer. To view applications and additional materials, visit the Literature library. Bringing clarity to important life decisions. For all states except NY, an annual fee of 0.95% of the Account Value will be deducted quarterly and will cease when the Account Value is reduced to $0. You'll need the Adobe Acrobat Reader to view the prospectus. During this period, your policy will not lapse for any reason. Our clients are also backed by a company with a long history and notable financial strengththats the type of security and track record you can rely on. The interest rate is an effective annual yield based upon a nominal rate which is compounded daily. Variable annuities are subject to market risk including possible loss of principal. Any loan interest that you do not pay when due will be added to the policys outstanding principal and will also accrue interest. The average American expects to retire at age 65, but what if you want to ditch the 9-to-5 grind sooner? You can repay this amount interest free, over a 12- or 24-month period. Literature | New York Life Annuities Resources Literature All the forms and insights you need all in one place. Please help. After this period, you will be automatically enrolled in a program that allows you to re-pay the amount that would have been due to keep your policy active (the total repayment amount). A reputation built on integrity. Whats unique about being a New York Life client? During these unprecedented times,New York Life is here to help and guide you. If your policy lapses according to its terms and you elect to reinstate your policy, you will be required to pay all amounts due according to the terms of your policy, including any part of total repayment amount that was due but not paid. the recipient's address will be sold or used for any purpose other than Products not available in all states. All guarantees are dependent on the claims-paying ability of the issuer, New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware corporation, a wholly owned subsidiary of New York Life Insurance Company. Your opportunity to potentially grow your assets and create a guaranteed stream of income you can't outlive. The rider form number for the Living Needs Benefit/Unemployment Rider is ICC09-R100; in some states it may be 209-100, and state variations may apply. You can repay this amount interest free, over a 12- or 24-month period. The term financial professional is not intended to imply engagement in an advisory business with compensation unrelated to sales. Each full year you choose to delay taking income, you earn what's called a Deferral Credit, a predetermined percentage that is added on to your initial withdrawal rate on each contact anniversary. The purpose of this material is solicitation of insurance. American International Group, Inc. (AIG) is a leading global insurance organization. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) the purchase of or operation of the Product. Financial Advisors: please check your own firm's requirements before submitting paperwork. The goal of most annuities is to provide a steady stream . Avoid outliving your assets by guaranteeing a lifetime withdrawal benefit amount,1 beginning on a date you choose. All guarantees are based on the claims-paying ability of NYLIAC. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Product or the suitability of the Index for the purpose to which it is being put by US Life. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917. It is a violation of law in some jurisdictions to falsely identify yourself in an email. Fixed Annuities All guarantees are based on the claims-paying ability of NYLIAC. Application and paperwork must be received at the Lockbox IN GOOD ORDER no later than 30 days from the application signed date. Issued by: New York Life Insurance and Annuity Corporation* Information that you input is not stored or reviewed for any purpose other than to provide search results. You do not pay the monthly repayment amount due and if your policy does not have sufficient cash surrender value (or net cash value, if applicable) to cover the Monthly Deduction Charges that will be charged for the following month plus the monthly repayment amount, or. This material is a general description intended for general public use. Download latest version of Adobe Acrobat Reader from the Adobe free-download Site. Annuity contracts and group annuity contracts are issued by Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY, in New York state. AIG Life & Retirement brings together a broad portfolio of protection, retirement savings, investment and lifetime income solutions to help people achieve financial and retirement security. All Rights Reserved. Annuities are long-term financial products used for retirement purposes. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Search for a Financial Professional by State, Get Connected with a Financial Professional. PDF T:8.5" B:8.8333" Y0ur foresight. Our insight. Rates in the chart above are effective {date} and are subject to change at any time. Annuities 101 | Athene Learn more:https://www.newyorklife.com/about/our-strength/what-rating-agencies-say. New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Fixed annuities | Jackson The New York Life Secure Term MVA Fixed Annuity II is issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. * Wholly owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, New York 10010. During this additional period, your policy will not be lapse for any reason. Fixed annuities Add safety and stability Want to build a more secure future? Account How-To Videos. May not be available in all jurisdictions. Protecting assets and generating retirement income | New York Life Insurance products may not be available in all states. QLAC Qualified Longevity Annuity Contracts, American General / AG Global 8 Index Annuity, American General / AG HorizonIndex Annuity, Fidelity and Guaranty of New York's Ratings, Genworth / SecureLiving Index 10 Plus Annuity, Midland National / Endeavor 8 Plus Annuity, Midland National / Endeavor 12 Plus Annuity, Midland National / IncomeVantage 10 Annuity, Midland National / IncomeVantage 14 Annuity, Midland National / MNL Select - 6 Year Annuity, Midland National / MNL Select - 8 Year Annuity, Multiyear Fixed Interest Deferred Annuity Rates, A Beginner's Tutorial for Fixed Index Annuities, Equity Indexed Annuities Features Improve Return Rates and Flexibility, Annuity Mumbo Jumbo Fast Talk Masks Bad Information, Fixed Index Annuity Income Rider Explained, What Stanford University Learned about Using Fixed Index Annuities to Create Retirement Income, How a Fixed Index Annuity Guarantees Inflation-Protected Income in Retirement, Index Annuities - Looking Back to Look Forward. We are working with many financial professionals who are using index annuities to look beyond traditional fixed income assets to help generate growth and income for their clients.. Investors are asked to consider the investment objectives, risks, charges and expenses of the . April 14, 2022 10:00 AM Eastern Daylight Time. 2023 New York Life Insurance Company, New York, NY. Click here to download the May 1, 2022 product prospectus and underlying fund prospectuses for the New York Life IndexFlex Variable Annuity. The key to achieving emotional and financial well-being in retirement is preparation. PIV interest bonus. At the end of the initial interest rate guarantee period, the policy will receive a new renewal rate each anniversary that is based on the accumulation value. Athene holds 67.8% of their assets in bonds and 19.2% in mortgages, the latter of which is higher than most insurance companies. The contract contains a more detailed description of the limited relationship MSCI has with Licensee and any related product. Want to feel better about retirement? All guarantees are dependent upon the claims-paying ability of NYLIAC. Certain New York Life annuities pay guaranteed income with the opportunity for more through non-guaranteed dividends. 2000-2023. During this period, your policy will not lapse for any reason. Click here to download the May 1, 2023 product prospectus and underlying fund prospectuses for the New York Life IndexFlex Variable Annuity. The repayment plan does not include any payments into the Option to Purchase Paid-up Additions (OPP) rider that were not paid. This material is being provided for informational purposes only, and was not prepared, and is not intended, to address the needs, circumstances and objectives of any of individual or groups of individuals. This product and the components and features contained within are not available in all states or firms. QUICK LINKS Annuity basics What is a fixed annuity? Our legacy of financial strength is built on our longstanding tradition of putting people first. Individuals should consult their tax advisor regarding their specific situation. The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The product and fund prospectuses contain this and other information and can be obtained from a financial professional. The initial guaranteed lifetime withdrawal rate is locked-in at purchase and will vary by age and by Male, Female, and Joint annuitants. Any part of the total repayment amount due but not paid cannot be accessed through the policys cash surrender value or by a policy loan. In order to maintain your life insurance coverage, you will need to begin repaying the total repayment amount and resume your regularly scheduled payments after the temporary pause on your policy ends. . In addition to any future premiums or Monthly Deduction Charges that are due on your policy, each month you will be billed an amount that is equal to one twelfth (or one twenty-fourth) of the total repayment amount due (monthly repayment amount). Deferral Credit will be added to your initial withdrawal rate for every full year of deferral and can vary by year and issue age, and by Male, Female, and Joint annuitants. New York Life fixed annuities are issued by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware corporation, a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. 1 Interest earned in Power Index 5 NY is calculated using index performance over a specific term subject to an index rate cap. PDF Secure Term Choice Fixed Annuity You have elected to enroll in an interest free, repayment plan offered by New York Life (repayment plan). Individuals | Client Login | New York Life Annuities We can help. Together, you can clarify your financial position, goals, and aspirations and co-create a plan to ensure youre prepared for whatever life may bring. Any life insurance benefits paid will be reduced by any amounts owed to us, including any part of the total repayment amount due but not paid. As part of the Financial Hardship program, you will automatically be enrolled in an interest free repayment plan. Please refer to the contract for more complete product details. Fixed annuities provide tax-deferred growth at a fixed rate of interest set for a predetermined amount of time. Virtual Assistant is Fidelitys automated natural language search engine to help you find information on the Fidelity.com site. Variable annuities offered through properly licensed registered representatives of a third party registered broker dealer. The S&P 500 Index is a product of S&P Dow Jones Indices LLC (SPDJI), and has been licensed for use by The United States Life Insurance Company in the City of New York (US Life) and affiliates. In most jurisdictions, the policy form number for the New York Life Clear Income Advantage Fixed Annuity FP Series is ICC22D-P02; in some states it may be NC22D-P02 (12/2022), and state variations may apply. May not be available in all jurisdictions. MSCI EAFE: The product referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such product or any index on which such product is based. The index rate cap is the maximum percentage of index performance that can be credited as interest for an index term. Neither your address nor Being a New York Life client means that you get the benefit of working with our financial professionals, who will partner with you for life. Retirement Plan Services, Make a payment In order to enroll in the program, you must demonstrate financial hardship. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds. As part of the Financial Hardship program, you will automatically be enrolled in an interest free repayment plan. TMX is a trade mark of TSX, Inc. and used by the LSE Group under license. Introducing our new, competitive income solution with flexibility. NYLIFE Securities Use this tool to estimate the income you could receive from a fixed income annuity. Please see below for the full terms and conditions of New York Life's 12-Month Repayment Program and Financial Hardship Program. While we are prepared to receive documents by email, please understand that we have no control over its security while it is in transit to New York Life. Power Index 5 NY Single Premium Deferred Fixed Index Annuity, Contract Number: USL-800-5 (8/21). Learn more from an insurance-licensed Fidelity financial professional about how annuities could fit into your financial plan. Important legal information about the email you will be sending. Our financial professionals are highly trained and have access to the latest tools and resources to guide you throughout your life as your needs change. West Des Moines, IA 50266, Call: 888-ANNUITY (888-266-8489) The fund prospectuses contain information on each of the investment divisions available under our products. Building long-term wealth doesn't happen overnight. A fixed-rate annuity is a type of retirement savings product that grows steadily and safely, providing you with a guaranteed* growth rate and the opportunity to convert your account to a lifetime income stream in the future. New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. . Fixed annuities allow you to make twochoices based on your needs and preferences. Minimum initial premium is $15,000. It's free and there is no obligation. It provides a guaranteed rate of return on your principal for a specified period of time and protects it from market risk. Annuities contain features, exclusions, limitations and availability that may vary by state and/or sales distributor. 1The highest ratings currently awarded refers to the highest ratings currently awarded to any U.S. life insurer, specifically: AM Best A++ (as of 8/20/2020), Fitch Ratings AAA (as of 10/15/2020), Moodys Aaa (as of 5/27/2020), and Standard & Poors AA+ (as of 10/14/2020). Should index returns remain flat or down, Power Index 5 NY locks in the guaranteed growth from the MAV after 5 years and then every year thereafter. Financial strength backed by the highest ratings. A guaranteed income annuity is one good way to do it. What is an equity-indexed annuity? New York Life Secure Term Choice Fixed Annuity II. Your account value grows at 1% each year3 Financial Advisors: please check your own firm's requirements before submitting paperwork. There is no guarantee that the growth potential of an index annuity will keep pace with inflation or rising costs in retirement. Guarantees are based on the claims-paying ability of New York Life Insurance and Annuity Corporation (NYLIAC). premium fixed deferred annuity with several interest rate guarantee/surrender periods to choose from. Building long-term wealth doesnt happen overnight. Our Annuities | Prudential Financial MainStay Mutual Funds Compared to other retirement tools that may not cut it in the interest rate department, a .