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The New York Life IndexFlex Variable Annuity-FP Series(IndexFlex) is a hybrid product combining the predictability of an index‐linked account with the investment flexibility of variable subaccounts. Investments in the index-linked accounts track a well-known index with the performance being limited by a cap or flat rate with downside principal protection. The “Cap for Term” noted in the podcast refers to a cap rate remaining in effect for the duration of a surrender charge period. It should be noted that after this initial period of rate certainty, rates for future index-linked investments remain in effect for only one year. The variable investment subaccount available through IndexFlex are subject to market risk and may lose value.
The reference to “protected growth” in connection with variable annuities refers to the “principal protection” aspect of the index-linked account in IndexFlex and the Investment Preservation Rider-FP Series(IPR), which can be accessed through the New York Life Premier Variable Annuity-FP Series. The IPR is an optional rider made available for an additional fee.
CDs, bonds, and annuities are distinct financial products used for different purposes. CDs are accumulation vehicles and are FDIC insured up to $250,000. A bond is a debt instrument that pays loan interest and eventually repays the principal loan to the lender. Annuities are retirement products where an investor pays premiums to an insurance company which in turn agrees to pay out a lifetime income.
Variable annuities are long-term financial products designed for retirement purposes. There are fees, guidelines, risks, restrictions and limitations to consider. 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. Any guarantees are based on the claims-paying ability of the issuer. For costs and complete details, investors should contact a financial professional.
Please consider the investment objectives, risks, charges, and expenses of the variable annuities carefully. The prospectus contains this and other important information; you can request a prospectus from a financial professional. Read the prospectus carefully before investing.
This material is general in nature and is being provided for informational purposes only. It was not prepared, and is not intended, to address the needs, circumstances and/or objectives of any specific individual or group of individuals. New York Life and its affiliates are not making a recommendation to purchase any specific products. For advice regarding your personal circumstances, you should consult with your own independent financial and tax advisors.
In most jurisdictions, the policy form numbers are New York Life IndexFlex Variable Annuity–FP Series (ICC20V-P02 or it may be NC20V-P02). New York Life Premier Variable Annuity - FP Series (ICC18V-P06 or it may be NC18V-P06); Investment Preservation Rider - FP Series (ICC19V-R02 or it may be NC19V-R02).

New York Life Variable Annuities are issued by New York Life Insurance and Annuity Corporation ("NYLIAC"), a Delaware Corporation. NYLIFE Distributors LLC, Member FINRA/SIPC, is the wholesale distributor and underwriter for these products. Both NYLIAC and NYLIFE Distributors LLC are wholly owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Variable annuities offered through properly licensed registered representatives of a third party registered broker dealer.

Investments and insurance products are:
Not FDIC/NCUA Insured | Not Insured by Any Federal Government Agency | Not a Deposit or Other Obligation of, or Guarantee by, the Bank or Any of Its Affiliates | May Lose Value