More features, more flexibility
The New York Life Premier Variable Annuity–FP Series keeps getting better.
The New York Life Premier Variable Annuity – FP Series (Premier) is a long-term retirement product that provides growth potential with principal protection features*. We are pleased to introduce several enhancements, effective May 1, 2020, to enhance investor value.
Enhanced Standard Death Benefit
Now featuring a one-time death benefit step-up
More choice
New funds and investment advisor allocated model portfolios
New Plan Types
Inherited Non-Qualified and Inherited Roth

Enhanced Standard Death Benefit
Our standard death benefit continues to pay the higher of the total amount invested or the account value at the time of death. As of May 1, 2020, new policies will include a one-time step up to account value (if higher than the existing death benefit) after the end of the original 7-year surrender period charge period, at no additional cost.

Expanded Investment Options.
For do-it-yourself investors, we've enhanced our robust platform of 60+ investment options to provide investors with a highly competitive and increasingly diverse lineup of underlying funds.
Model Portfolios (as of 5/1/2020)**

Partnering with Multi-Asset Expertise
- As of 12/31/2019
- More than $800B in assets under management
- Established in 1899
- Commitment to Corporate Social Responsibility (CSR)
- 39 locations worldwide
- 9 specialized investments managers
- More than $19B in assets under management
- Established in 1999
- UN-supported Principles for Responsible Investment (PRI) signatory
- More than 50 investment professionals
- Independent affiliate of Legg Mason since 2004

New Plan Types
It is now possible for Premier to fund these plan types:
- Inherited Non-Qualified allows non-spousal beneficiaries to 1035 exchange non-qualified death benefit proceeds into a new annuity and stretch distributions over their own lifetime to spread out the tax liability on the gain2.
- Inherited Roth allows beneficiaries to exchange death benefit proceeds from a Roth IRA (that is at least 5 years old) into a new annuity and continue to accumulate tax free gain3.
For 175 years, New York Life has been helping individuals, families and businesses plan for the future with confidence. Let’s work together to better serve investors.
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