Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Fixed Annuity Guarantees Rate For 5 Years

Your article was successfully shared with the contacts you provided.

New York Life Insurance and Annuity Corp. has introduced the New York Life Select 5 Fixed Annuity contract.

The contract is a single-premium deferred annuity product, according to NYLIAC, a unit of New York Life Insurance Company, New York.

The product offers access to 10% of the assets each year for the first 5 years without requiring holders to pay surrender charges.

After 5 years, holders can withdraw all assets without paying surrender charges.

The product pays a guaranteed interest rate during the first 5 contract years.

“A 100% money-back premium guarantee that ensures you’ll always receive back the premium you paid for your policy less any previous withdrawals,” NYLIAC says.

NYLIAC is responsible for backing the product guarantees.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.