The New York Life Premier Variable Annuity–FP Series just got better.
The New York Life Premier Variable Annuity-FP Series provides investors an excellent opportunity to grow their retirement assets. Now, there are several enhancements (effective May 1, 2019) that may provide more value for investors.
The Investment Preservation Rider-FP Series (IPR) can help investors stomach choppy markets with the promise of principal protection.1 The fee has been reduced for the 10 to 12 year holding periods (for new applications submitted on or after 5/1/2019). The fee remains unchanged for the 13, 14, 15 and 20-year holding periods. New holding period fee: 10-year: 1.00%, 11-year: 0.90%, 12-year 0.80%.
More investment options.
Our robust platform of 60+ investment options has been enhanced to provide clients with a highly competitive and increasingly diverse lineup of underlying funds.
New Investment Options (as of 5/1/19)
Fidelity® VIP Health Care
Fidelity® VIP International Index
Fidelity® VIP FundsManager ®60%
Model Portfolios (as of 5/1/2019)
For a more streamlined approach to diversification, we offer model portfolios designed by an unaffiliated third-party investment advisor, QS Investors, LLC (QS), a subsidiary of Legg Mason Inc. QS will do the allocation work for you by optimizing the mix of sub-accounts from well-known asset managers.2
To learn more about our Variable Annuity, please fill out this form.
(1) “Principal Protection” is provided by an optional accumulation benefit rider called the Investment Preservation Rider–FP Series (IPR) which can be purchased for an additional fee. It guarantees all premium payments from a loss that are made in the first policy year (less any proportional withdrawals) after the completion of a holding period. The IPR 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. The IPR is subject to certain allocation restrictions so not all investment divisions offered under the VA may be available for allocation.
(2) The model portfolios are referred to as “Asset Allocation Models” in the prospectus and were designed on our behalf by an unaffiliated third party investment adviser, QS Investors, LLC (“QS Investors”), a subsidiary of Legg Mason, Inc. QS Investors received a fee from NYLIAC to design the model portfolios. The model portfolios are effective May 1, 2018 and, as “static” models, will not be updated in response to market or economic conditions or other factors. The model portfolios are not tailored to your specific investment objective or risk tolerance, and NYLIAC does not recommend any particular model or otherwise provide advice as to which may be appropriate. You are responsible for determining which model portfolio is best for your individual circumstances. Model portfolios do not assure a profit or protect against losses and may perform better or worse than any single investment option or any other combination of investment options. Please see the product prospectus for a description of the limitations and costs associated with the model portfolios.
(3) The aggressive model portfolio is not available when the IPR is elected.
Variable annuities are long–term financial products designed for retirement purposes. There are fees, guidelines, risks and limitations to consider. Guarantees are backed by the claims–paying ability of New York Life Insurance and Annuity Corporation (NYLIAC) and do not apply to assets in the Investment Divisions as they are subject to market risk and fluctuate in value. Withdrawals or surrenders may be subject to ordinary income taxes and, if made prior to age 59½, may be subject to a 10% IRS penalty. Also, withdrawals reduce the IPR guarantee proportionally, which may be more than the actual dollar amount withdrawn, so if you plan to take substantial withdrawals (including required minimum distributions) while the IPR is in effect, you should carefully consider the cost versus the benefit received. Surrender charges may also apply. For costs and complete details contact a financial professional.
Please refer your clients to the appropriate product and fund prospectuses. Investors are asked to consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. Both the product and the underlying fund prospectuses contain this and other information about the product and the underlying investment options. Please remind your clients to read the prospectuses carefully before investing.
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 individual or groups of individuals. New York Life and its affiliates are not making a recommendation that any of your particular clients purchase any specific products and do not provide tax or legal advice.
In most jurisdictions, the policy and rider form numbers are as follows (state variations may apply): New York Life Premier Variable Annuity - FP Series (ICC18V-P06 or it may be NC18V-P06); Investment Preservation Rider - FP Series (ICC18V-R05 or it may be NC18V-R05); Annual Death Benefit Reset Rider (ICC15-R302, or it may be 215-R302). Some states may offer this rider under a different name. and benefits may vary. Annuities contain certain limitations and restrictions. A financial professional can provide costs and complete details.
New York Life Variable Annuities are issued by New York Life Insurance and Annuity Corporation ("NYLIAC"), a Delaware Corporation. NYLIFE Distributors LLC, Member FINRA/SIPC, is the wholesale distributor and underwriter for these products. Both NYLIAC and NYLIFE Distributors LLC are wholly–owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Variable annuities offered through properly licensed registered representatives of a third party registered broker dealer.
For registered representative use.
Investments and insurance products are:Not FDIC/NCUA Insured | Not Insured by Any Federal Government Agency | Not a Deposit or Other Obligation of, or Guarantee by, the Bank or Any of Its Affiliates | May Lose Value
New York Life Insurance Company
New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation)