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New York Life Premier
Variable Annuity — FP Series

The opportunity for growth with guarantees

To help build retirement assets and outpace inflation, many investors will need the kind of growth potential only the markets can provide. Like most variable annuities, the New York Life Premier Variable Annuity – FP Series can help grow assets for retirement while managing the effects of taxes, costs, and risks.

Our unique combination of features includes:

  • Tax deferral which may help savings grow faster
  • A wide array of investment options
  • Some access to the account value
  • The ability to invest without fear of loss through optional investment protection1
  • A patented, Level M&E fee structure which doesn’t charge for market growth
  • A fee decrease at the 7th policy anniversary2
  • Financial legacy protection through a guaranteed death benefit (unless lifetime income is chosen instead)
  • Features to help simplify investing
  • The option to generate a stream of income that’s guaranteed for life

Variable annuities are long-term investment vehicles designed to help you save for retirement. As with many investments, there are fees, expenses, and risks associated with variable annuity contracts.

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. Surrender charges may also apply.

All guarantees, including death benefit payments, are dependent on the claims-paying ability of New York Life Insurance and Annuity Corporation, and do not apply to the investment performance of the underlying Investment Divisions in the variable annuity. Assets in the Investment Divisions are subject to market risks and may fluctuate in value.

This daily updated chart is your resource for tracking the accumulation unit values of the Investment Divisions of the New York Life Premier Variable Annuity – FP Series. For current to the most recent month-end performance information including average annual total return, please click on the Performance Summary tab.

Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to current market volatility, current performance may be lower or higher than the figures shown. The investment return and the accumulation value of your policy will fluctuate so that a policy, when surrendered, may be worth more or less than the premium payments.

All performance reflects the percentage change for the period shown with capital gains and dividends reinvested. The New York Life Premier Variable Annuity – FP Series Premium Based M&E Fee differs from many other variable annuity polices in that the Mortality and Expense Risk and Administrative Costs Charge is calculated as a percentage of the Adjusted Premium Payments under the policy (excluding premiums allocated to the Fixed Account), rather than as a percentage of Separate Account assets. Therefore, the 1.30% charge during the surrender charge period and 1.10% after the surrender charge period is not reflected in the performance of the Investment Divisions, but will be deducted on a quarterly basis by reducing the number of Accumulation Units in the Investment Divisions you have selected. In a rising market, since each Accumulation Unit will have a relatively greater value, fewer Accumulation units will be deducted from your policy for the Mortality and Expense Risk and Administrative Cost Charge. In a declining market, since each Accumulation Unit will have a relatively lower value, more Accumulation Units will be deducted from your policy for the Mortality and Expense and Administrative Cost Charge. The value of your policy will depend on the number of accumulation units you own and the value of those units.

For the New York Life Premier Variable Annuity – FP Series Accumulation Value Based M&E Fee all performance reflects the percentage change for the period shown with the capital gains and dividends reinvested and includes an annualized Separate Account Expense Charge of 1.20% during the surrender charge period and 1.00% after the surrender charge period expires.

A policy service charge of $30, is not included in these charges, but will be deducted each year from the policy's Accumulation Value on the policy anniversary and upon surrender if on that date the Accumulation Value is less than $100,000. The Investment Divisions offered under the New York Life Premier Variable Annuity – FP Series and described herein are different from mutual funds that may have similar names but are available directly to the general public. Investment results may differ. The policies were first offered for sale on November 20, 2017.

Investors are asked to consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. Both the product prospectus and the underlying fund prospectuses contain this and other information. Please read the prospectuses carefully before investing.

To obtain a current product and fund prospectus call the New York Life Annuity Service Center at 1–800–762–6212 or click on the prospectus link above.

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