Before investing, consider the investment objectives, risks, charges, and expenses of the annuity and its investment options. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 59½, may be subject to a 10% IRS penalty.
Annuity guarantees are subject to the claims-paying ability of the issuing insurance company.
1.
Fidelity Personal Retirement Annuity (Policy Form No. DVA-2005, et al.) is issued by Fidelity Investments Life Insurance Company and, for New York residents, Personal Retirement Annuity (Policy Form No. EDVA-2005, et al.) is issued by Empire Fidelity Investments Life Insurance Company®, New York, N.Y. Fidelity Brokerage Services, Member NYSE, SIPC, and Fidelity Insurance Agency, Inc., are the distributors.
2.
This is a deferred variable annuity.
Investing in a variable annuity involves risk of loss - investment returns and contract value are not guaranteed and will fluctuate.
3.
Clients are eligible for an annual fee of 0.10% if (1) the contract is purchased with an initial purchase payment of $1,000,000 or more on or after September 7, 2010, or (2) the contract value has accumulated to $1,000,000 or more on or after September 7, 2010 and at that time we are offering the contract to new applicants for 0.10%. See prospectus for additional details.
4. New York Life Insurance and Annuity Corporation ("NYLIAC"), a Delaware Corporation. NYLIFE Distributors LLC, a limited liability company organized under Delaware law and 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 are only offered through properly licensed registered representatives of registered broker dealers. In most jurisdictions, the policy and rider form numbers are as follows (state variations may apply): New York Life Premier Variable Annuity—P Series (ICC18V-P05 or it may be NC18V-P05); Investment Preservation Rider—P Series (ICC18V-R04 or it may be NC18V-R04). Some states may offer this rider under a different name, and benefits may vary.
5. The name, benefits, and guidelines of the Investment Preservation Rider-P Series may vary in some jurisdictions.
6. The performance of the Fidelity VIP FundsManager 60% Portfolio depends on that of their underlying Fidelity and Fidelity VIP funds. These portfolios are subject to the volatility of the financial markets in the U.S. and abroad, and may be subject to the additional risks associated with investing in high-yield, commodity-linked, small-cap, and foreign securities.
7. The Investment Preservation Rider (IPR) does not protect the account value from day-to-day market fluctuations or against losses that could be realized before the completion of the holding period. That means the rider will not provide a benefit if the policy is not held for the entire holding period after it is elected or reset. Withdrawals reduce the IPR guaranteed amount proportionally, which may be more than the actual dollar amount withdrawn; so the rider is not intended for clients who anticipate taking substantial withdrawals (including IRS required minimum distributions) before the completion of the IPR holding period.
8. Some deferred fixed annuities have a market value adjustment (MVA), which generally applies if a client surrenders the contract or withdraws funds in excess of the free withdrawal amount before the end of the guarantee period. The amount the client receives will be adjusted based on interest rate conditions at that time.
9.
Deferred Income Annuity contracts are irrevocable, have no cash surrender value and no withdrawals are permitted prior to the income start date.
10. Restrictions may apply. Please refer to product materials for additional details.
11.
In order to provide an income stream, there is no or limited access to assets.
12. Restrictions may apply depending on payment option and/or contract type selected. The new income amount will be determined by the issuing insurance company. Please refer to the product materials for additional details.
13. Minimum subsequent premium amounts and limitations to when they are allowed prior to income start date may apply.
14. This product is available in all states except New York. Product features may vary by state. Please refer to the contract for more complete product details.
15.
New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Available in jurisdictions where approved. State variations may apply and benefits may vary. In most jurisdictions, the policy form number for the New York Life Clear Income Fixed Annuity — FP Series is ICC14-P130; in some states it may be 214-P130, and state variations may apply. In most jurisdictions, the rider form number for the Guaranteed Lifetime Withdrawal Benefit Rider is ICC14-R102; in some states it may be 214-R102, and state variations may apply. The rider form number for the Living Needs Benefit/Unemployment Rider is ICC09-R100; in some states it may be 209-100, and state variations may apply.
The New York Life Clear Income Fixed Annuity—FP Series should only be considered if you intend to receive payments under the GLWB Rider.
16.
Any withdrawal prior to age 59½ will reduce the GLWB amount. After age 59½, an early access withdrawal or any withdrawal (including applicable MVA and surrender charges) that exceeds your GLWB amount will reduce income guarantees. Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 59½, may be subject to a 10% IRS penalty.
Some products and features may not be available in all states and variations may apply. Certain features may not be available in all products or depending on type of funds used to purchase the annuity.
Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments company. These products are distributed by Fidelity Insurance Agency, Inc., and, for certain products, by Fidelity Brokerage Services, Member NYSE, . A contract’s financial guarantees are solely the responsibility of and are subject to the claims-paying ability of the issuing insurance company.
Fidelity insurance products are issued by Fidelity Investments Life Insurance Company (FILI), 900 Salem Street, Smithfield, RI 02917, and, in New York, by Empire Fidelity Investments Life Insurance Company®, New York, N.Y. FILI is licensed in all states except New York. Other insurance products available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments company. A contract's financial guarantees are subject to the claims-paying ability of the issuing insurance company.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
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