Clear Income Advantage Fixed Annuity Let's customize a strategy that works best for you. Access client accounts, illustrations and more. New York Life is proud to be #1 in Annuity Sales in 2022, according to LIMRA. 60). Policies with premium amounts of $1 million or more require prior New York Life Insurance and Annuity Corporation approval. You might be surprised at what pre-retirees think they are. My Account | New York Life Variable annuities are offered by NYLIFE Securities LLC, Member FINRA/SIPC. Guarantees are based on the claims-paying ability of New York Life Insurance and Annuity Corporation (NYLIAC). Depending on your goals, an annuity can be an important piece of your retirement strategy, but whatever your situation, it probably shouldnt be your only retirement savings vehicle. Fact Sheet: Guaranteed Lifetime Income Annuity II, Fact Sheet: Guaranteed Future Income Annuity II, Fact Sheet: Guaranteed Period Income Annuity II, Fact Sheet: Clear Income Advantage Fixed Annuity-FP Series, Brochure: Clear Income Advantage Fixed Annuity-FP Series. For most jurisdictions, the policy form number for the Guaranteed Lifetime Income Annuity II is ICC11-P103; it may be 211-P103, and state variations may apply. Guarantees are based on the claims-paying ability of the issuer. 800-634-9361 The policy form number for the New York Life Lifetime Mutual Income Annuity is 214-P200. There is an annual rider fee of 0.95% of the Accumulation Value that is deducted quarterly. And buying a guaranteed income annuity before you actually need income is a smart move. Any guarantees are based the claims-paying ability of the issuer. All guarantees are dependent on the claims-paying ability of the issuer. Retirement Income - Generate Income With Annuities | New York Life An agent can help you understand your options and set expectations. Immediate Annuity Calculator SPIA | USAA For costs and complete details, contact a financial professional. Learn more about creating a retirement free from worry. Our tools help financial professionals lay a solid retirement foundation. Best Annuities To Buy Here's a look at the six largest annuities providers by sales. New York Life offers annuities that guarantee your principal amount, so it never shrinks. New York Life Guaranteed Lifetime Income Annuity II1. The longer you live, the more total income youll get, and it will never run out. Benefits of Annuities Read the prospectuses carefully before you invest or send money. If you are buying a New York Life Variable Annuity, but would like to make sure you dont 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). 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. Our suite of solutions helps prepare for retirement with confidence and peace of mind. Variable annuities offered through properly licensed registered representatives of a third party registered broker dealer. Income Annuities-Retirement Income | Charles Schwab 2021 New York Life Insurance Company and Subsidiaries Unabridged Consolidated Financial Statements (GAAP Basis): Our financial results presented in a format consistent with generally accepted accounting principles. NYLIFE Distributors LLC, Member FINRA/SIPC, is the wholesale distributor and underwriter for these products. The new approach to retirement planning includes income from multiple sources. Be sure to weigh other factors, like the financial stability of the company, any fees you may be charged, and potential benefits you can add on to your annuity. There are fees, expenses, limitations and risks associated with this policy. Introducing our new, competitive income solution with flexibility. A New York Life Guaranteed Lifetime Income Annuity can give you more confidence to live a more fulfilling retirement by providing you with a guaranteed stream of income in exchange for a one-time premium payment. New York Life has launched a new income annuity, Mutual Income, that pays annual dividends in addition to immediate or deferred income. New York Life offers annuities that guarantee your principal amount, so it never shrinks. You believe it will pay off and provide you with a good retirement, but there is still some risk. Tell us about yourself and we'll connect you with a financial professional in your area. Consider Immediate Income Annuities if youre looking for: Youve done the hard work of saving. New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. A guaranteed income annuity can give you "pension-like" payouts that help you to maintain the lifestyle you've earned. New York Life Clear Income Advantage Fixed Annuity-FP Series This annuity provides you, or you and your spouse, with guaranteed lifetime income while also giving you the flexibility to access your assets if your plans change. Most of it is invested in an aggressive stock approach to maximize its growth potential. New York Life Guaranteed Lifetime Income Annuity II 1 Based on the life with cash refund option for a policy purchased by a male annuitant with $100,000. The interest rate is an effective annual yield based upon a nominal rate which is compounded daily. Based on the life with cash refund option, male annuitant with $100,000. New York Life is one of the oldest and largest life insurance companies in the United States with about 8% of the U.S. life insurance and annuity market as of their 2nd quarter of 2022. 2023 New York Life Insurance Company, New York, NY. Date Updated: August 25, 2022 What You Should Know About Annuities According to Annuity.org, 75% of Americans believe the country is facing a retirement crisis. Retirement Plan Services. Variable annuities offered through properly licensed registered representatives of a third party registered broker dealer. Find out how much youll need to maintain the lifestyle you want. Receive resources & tools that can help you prepare for the future. Benefits of Annuities NYLIFE Securities That rate will not be less than the guaranteed minimum interest rate (GMIR) stated in the policy. If pretax dollars are invested in a fixed deferred annuity, the payout will be taxed. Service forms A fixed deferred annuity offers you a guaranteed interest rate, which youll earn over your chosen policy term. Many financial professionals will recommend taking advantage of these common tax-deferred retirement savings vehicles if they are available for you. S&P 500Price Return Index (S&P 500)5, CAP RATE There are two main ways to grow your retirement savings with an annuity. LIMRA as of 12/31/2022, based on premium. Account How-To Videos. Money MUST be received at the lockbox no later than 60 days from application signed date (part 1 for Reg. For people looking for more significant growth of their retirement savings (and willing to accept the potential for loss), a fixed deferred annuity may not be the right choice. NEW YORK, April 05, 2023 -- ( BUSINESS WIRE )--New York Life, America's largest mutual life insurer 1, today announced the launch of Clear Income Advantage, a fixed deferred annuity. Service forms Annuities contain certain fees and charges and there are risks, restrictions, and limitations to consider. 2. Product available in jurisdictions where approved, Guarantees backed by the claims-paying ability of the issuer. Search for a Financial Professional by State, Get Connected with a Financial Professional. Based on revenue as reported by Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual), Fortune magazine, 5/23/22. 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. But you will owe taxes on the part of the payout that is in addition to your premium. Forbes.com. Control over when you receive your money. Variable annuities are offered by NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency and New York Life company. 212-576-7000. New York Life, its affiliates, employees and agents are not making a recommendation that any of your particular clients purchase any specific products, and do not provide tax or legal advice. Want to feel better about retirement? Payout amounts for female applicants, who have longer life expectancies, are lower. Both NYLIAC and NYLIFE Securities LLC are wholly-owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. S&P 500Price Return Index (S&P 500)5, FLAT RATE Lets begin by looking at a few factors that can guide y. ** https://www.annuityexpertadvice.com/fixed-annuity-rates/#average-fixed-annuity-rates. NYLIFE Securities Consider an annuity if you're looking for: New York Life received the highest score among individual annuity providers in a tie in the J.D. 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. 3. A New York Life financial professional can help determine whats right for you. Retirement Plan Services, Make a payment Account How-To Videos. The New York Life Clear Income Advantage Fixed AnnuityFP Series, a fixed deferred annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider, 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. Here are some factors to consider when thinking about annuities: Stability and lower risk. S&P 500Price Return Index (S&P 500)3, FLAT RATE *These figures are effective as of {date} and are subject to change at any time. Consider Deferred Income Annuities if youre looking for: You deserve a secure future, whenever you decide to retire. Depending on the period chosen, withdrawals during the first 3, 4, 5, 6, or 7 years of the policy may be subject to surrender charges. Based on the life with cash refund option for a policy purchased by a male annuitant with $100,000. 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. The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by New York Life. In exchange for a one-time deposit or multiple deposits over your chosen waiting period, an annuity company provides steady income payments to you for life. 1. The rates represent the annualized payout as percent of total premium. What would more guaranteed income mean to you? Advisor Account Access MainStay Mutual Funds Guarantees are subject to contract terms, exclusions and limitations, and the claims-paying ability of NYLIAC. If you have previously submitted a Telephone/Web Authorization form, you will also have the ability to change your address, request a partial withdrawal, or request a one-time variable sub account transfer. All guarantees are backed by the claims-paying ability of the issuer. New York Life's Income Plus Variable Annuity | Annuity FYI Russell 2000Price Return Index (Russell 2000)4. Dont worry about spending down your savings. Withdrawals greater than the GLWB amount during the first 7 years of the policy may be subject to surrender charges. Payment Options 2, 3, 4 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). To qualify for the new New York Life Fixed Annuity rates, if rates increase: Paperwork MUST be signed and dated ON OR AFTER the date of change. Being prepared looks different across all phases of life. You can cancel anytime. For most jurisdictions, the policy form number for the Guaranteed Lifetime Income Annuity II is ICC11-P103; it may be 211-P103, and state variations may apply. Please refer to the product prospectus for more information. In the state of MT, payout amounts do not differentiate male and female life expectancies. So, make sure the company you buy your annuity from has high ratings from the leading independent rating agencies, A.M. Best, Fitch, Standard & Poor's, and Moody's Investors Service. 2021 financial information. An equity-indexed annuity grows at a pre-determined interest rate, rather than with investments, but that interest rate is partially tied to a stock index, like the S&P 500 Index.