New York Life Secure Term
MVA Fixed Annuity II1
Don't just look forward to a long retirement. Expect it.
Whether you’re heading for retirement or already there, a fixed deferred annuity from New York Life helps you grow and protect your funds. The money in your annuity, which you invest as a lump sum, earns a guaranteed fixed rate of interest.2 Fixed deferred annuities are not subject to the ups and downs of the stock market and you don’t pay taxes on your earnings until you withdraw them.3 With a fixed deferred annuity, you will also receive protection for your beneficiaries through a guaranteed death benefit.1
New York Life offers several fixed deferred annuities. The New York Life Secure Term MVA Fixed Annuity II allows you to lock in an attractive interest crediting rate for a selected period of time. You may choose from a range of interest rate guarantee periods, including three, four, five, six, or seven years.
The New York Life Secure Term MVA Fixed Annuity II also comes with a Market Value Adjustment (MVA) provision that allows New York Life Insurance and Annuity Corporation to offer a potentially higher initial interest rate than a product that does not offer this adjustment. Determined by a formula that measures the change in the U.S. Treasury Constant Maturity yield plus the applicable Barclays Capital U.S. Corporate Bond Index, the MVA will add or deduct an amount from your annuity or from the withdrawal amount you receive.4 A MVA only applies when the policyowner surrenders or makes a withdrawal from the contract that is greater than the surrender-charge-free withdrawal amount during the surrender charge period. A MVA is not applicable after the surrender charge period is over.
New York Life is pleased to announce that a new 4 year rate for term option has been added to the NYL Secure Term MVA II.
1. The New York Life Secure Term MVA Fixed Annuity II is issued by New York Life Insurance and Annuity Corporation (New York Life Insurance and Annuity Corporation) (a Delaware corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Ave, New York, NY 10010. A Market Value Adjustment (MVA) is a positive or negative adjustment to the policy's accumulation value, or the amount received in a withdrawal, when a partial withdrawal or full surrender is made during the surrender charge period and the withdrawal or surrender exceeds the policy's surrender-charge-free withdrawal amount. Refer to the New York Life Secure Term MVA II Features and Benefits section or the Examples and Explanation Flyer for more information. Surrender charges will not be deducted from death benefit proceeds.
2. Interest rates are effective annual yields. All guarantees are dependent upon the claims-paying ability of the issuer.
3. Withdrawals may be subject to regular income tax and if made prior to age 59½ may be subject to a 10% IRS penalty. Surrender charges may also apply.
4. The New York Life Secure Term MVA Fixed Annuity II is not sponsored, endorsed, sold, or promoted by Barclays. Barclays’ only relationship to New York Life Insurance and Annuity Corporation is the licensing of the Barclays U.S. Corporate Bond Indices, which are determined, composed, and calculated by Barclays without regard to New York Life Insurance and Annuity Corporation, or the New York Life Secure Term MVA Fixed Annuity II. Barclays does not guarantee the accuracy, completeness, quality, and/or validity of the Barclays U.S. Corporate Bond Indices. Barclays is not responsible for and has not participated in any determinations or calculations of value related to the New York Life Secure Term MVA Fixed Annuity II. Barclays has no obligation or liability in connection with the administration, marketing, sale, or trading of the New York Life Secure Term MVA Fixed Annuity II.
5. Rates in the chart above are effectiveand are subject to change at any time. The Guaranteed Minimum Interest Rate (GMIR) is 0.05% (except in New York where it is 1.30% and in California where it is 0.35%). The interest rate is an effective annual yield based upon a nominal rate which is compounded daily. Yields assume no additions or withdrawals made during the guaranteed period. After the initial guaranteed interest rate period, the policy will receive a new renewal interest rate that is guaranteed for one year, which will never be less than your GMIR, as stated in your policy. Additional premiums are not permitted. Please call your representative for current rates on premium amounts of $1,500,000 or more. Policies with premium amounts of $1 million or more require prior New York Life Insurance and Annuity Corporation approval.
The policy form number for the New York Life Secure Term MVA Fixed Annuity II is ICC10-P112 in most jurisdictions. In some states, it may be 210-P112 and state variations may apply.
Available in jurisdictions where approved.Annuities:
- Not FDIC/NCUA insured
- Not a Deposit
- May Lose Value
- No Bank Guarantee
- Not Insured by Any Government Agency