Rates of return
Your account value grows at 1% each year3
This product may not be available in all states.
- Your future income is dependent upon your gender, age at the time of purchase, your initial investment amount, how long you wait to start income, and the type of policy you invest in (single or joint).
- Your initial withdrawal rate is locked in when you make your investment
- Each full year you choose to delay taking income, you earn what's called a Deferral Credit, a predetermined percentage that is added on to your initial withdrawal rate on each contact anniversary.4
All early access withdrawals will reduce the Guaranteed Lifetime Withdrawal Benefit (GLWB) amount. After income starts, any withdrawal (including applicable Market Value Adjustment and surrender charges) that exceeds your GLWB amount will reduce income guarantees proportionally. 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.
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 Advantage Fixed Annuity — FP Series is ICC22D-P02; in some states it may be NC22D-P02 (12/2022), and state variations may apply. In most jurisdictions, the rider form number for the Guaranteed Lifetime Withdrawal Benefit Rider is ICC22D-R01; in some states it may be NC22D-R01, 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.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917