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.

New Investment Options Asset Category Net Annual Expense
Invesco Oppenheimer V.I Main Street Small Cap Fund® Small Cap Blend 1.05%
MFS® Mid-Cap Value Portfolio Mid Cap Value 1.06%
PIMCO VIT Income Portfolio Multisector Bond 1.07%

The “Net Annual Expense” is the current expense and does not include fees that are waived/reimbursed. Please refer to the prospectus for the amount of the fee waiver and reimbursements and how they can affect the Net Annual Expense. Net Annual Expense is based on each portfolio's prospectus dated May 2020 and does not reflect insurance contract fees and expenses.

For investors who can benefit from one-step approach to diversification, we offer five new “fund of funds” portfolios exclusively designed & delivered by Legg Mason and its quantitative asset manager subsidiary, QS Investors, LLC.

Model Portfolios (as of 5/1/2020)**

Graphic of model portfolios and returns: Conservative, Moderately Conservative, Moderate, Moderately Aggressive and Aggressive
  • Partnering with Multi-Asset Expertise

  • As of 12/31/2019
  • Legg Mason Global Asset Management
  • More than $800B in assets under management
  • Established in 1899
  • Commitment to Corporate Social Responsibility (CSR)
  • 39 locations worldwide
  • 9 specialized investments managers
  • QS Investors
  • 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.

To learn more about our Variable Annuity, please fill out this form.


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Questions? Call us at 1-877-695-2539 to learn more