Close Close

Life Health > Life Insurance

NYLIAC Updates Increase Option

Your article was successfully shared with the contacts you provided.

An annuity issuer has changed a contract feature.

New York Life Insurance and Annuity Corp., a unit of New York Life Insurance Company, New York, says the Lifetime Income Annuity’s Annual Increase Option now allows policy owners to elect to have the income benefit on their income annuity increase in 1 percentage point increments between 1% and 5% per year.