BOSTON — Fidelity Investments® announced that the New York Life Clear Income Fixed Annuity – FP Series will be made available as part of Fidelity's product portfolio. The new product is a fixed deferred annuity with a guaranteed lifetime withdrawal benefit that provides customers with guaranteed1 income throughout retirement along with greater flexibility in the form of withdrawal options.
"The New York Life Fixed Annuity is a strong addition to Fidelity's lineup of lifetime income offerings, combining the advantages of a deferred income annuity with greater liquidity, by giving investors the ability to access their funds if their financial situation changes," said Bill Johnson, president of Fidelity Investments Life Insurance. "This product can be an important component of a diversified portfolio and can help people create retirement income designed to last their lifetime."
The New York Life Clear Income Fixed Annuity– FP Series offers the following advantages:
- Lifetime Income: Through access to a guaranteed lifetime withdrawal benefit amount beginning on a date they select, investors can avoid outliving their assets. Individuals (or couples for joint contracts) also benefit from knowing how much annual income they will receive, based on any date they select2.
- Flexibility: If a person's situation changes and the need may arise to take some or all of the money sooner, individuals have access to the contract's accumulation value3.
- Stability: Individuals have the security of a guaranteed rate of return and cash flow regardless of market fluctuations and downturns.
With the introduction of the New York Life Clear Income Fixed Annuity–FP Series, New York Life and Fidelity continue to build upon a successful partnership. Fidelity already makes available several New York Life annuity products, including single premium deferred annuities, deferred income annuities and single premium immediate annuities.
To learn more about annuities and how they can fit into your overall financial plan, visit www.fidelity.com/annuities/overview or speak with a Fidelity annuity specialist at 800-345-1388.
About Fidelity Investments
Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.4 trillion, including managed assets of $2.1 trillion as of June 30, 2016, we focus on meeting the unique needs of a diverse set of customers: helping more than 25 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.