Annuities are long-term financial products used for retirement purposes which contain certain fees and charges and there are risks, restrictions, and limitations to consider. The variable investment options of variable annuities are subject to market risk including possible loss of principal.
What are the “ratings” Barron’s refers to?
The "Rating" is a financial strength rating from A.M. Best for the insurance company noted. The “New York Life” rating is for New York Life Insurance Company(NY,NY) and its subsidiary, New York Life Insurance and Annuity Corporation(NYLIAC), a Delaware Corporation. Current ratings are; Standard & Poor’s (AA+); A.M. Best (A++); Moody’s (Aaa); and Fitch (AAA). Source: Individual Third-Party Ratings Reports as of 10/18/2022.
What are the New York Life products referenced in the article?
The Contracts noted are the New York Life Premier Variable Annuity- FP Series(Contact Form#: ICC18V-P06 or it may be NC18V-P06) and the New York Life IndexFlex Variable Annuity–FP Series (Contact Form #ICC20V-P02 or it may be NC20V-P02). Rates noted are for a $100,000 minimum premium investment, are as of 8/22/2022 and are subject to change. The variable annuities are issued by New York Life Insurance and Annuity Corporation (NYLIAC).
What is the article referring to by its reference to “protection”? The protection noted for the Premier VA is the Investment Preservation Rider - FP Series(IPR) (Contract Form #ICC19V-R02 or it may be NC19V-R02), an optional rider made available for an additional fee. The IPR offers a guarantee by the issuer that all premium payments made in the first policy year (less any proportional withdrawals) are guaranteed against loss 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. There is an opportunity to reset the IPR to the accumulation value on an annual basis. In the case of the IndexFlex Variable Annuity, this product offers a fixed Index-Linked Account option, in which the annuity issuer guarantees that any assets invested in this option will not lose value.
Please consider the charges, risks, expenses, and investment objectives carefully before purchasing a variable annuity. The prospectus contains this and other information and can be obtained from a financial professional. Read the prospectus carefully before you invest or send money.
NYLIFE Distributors LLC (Member FINRA/SIPC), is a New York Life company and the wholesale distributor and underwriter for the New York Life variable annuity contacts noted in the table. The contracts are offered through properly licensed registered representatives of a third party registered broker dealers. Similar variable annuity contracts are offered by properly licensed registered representatives through NYLIFE Securities LLC (member FINRA/SIPC), a licensed insurance agency and New York Life company.