New York Life Clear Income Fixed Annuity–FP Series Video

Available through The Fidelity Insurance Network®,1 New York Life Clear Income Fixed Annuity–FP Series, provides you, or you and your spouse, with guaranteed income for the rest of your life.

The New York Life Clear Income Fixed Annuity - FP Series should only be considered if you intend to receive payments under the Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider.
1. 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, Fidelity Brokerage Services, Member NYSE, "SIPC". A contract's financial guarantees are solely the responsibility of and are subject to the claims-paying ability of the issuing insurance company.
2. As long as you do not withdraw your policy's Accumulation Value (including applicable Market Value Adjustment and surrender charges) before the income start date. All guarantees are dependent on the claims-paying ability of the issuer, New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware corporation, a wholly owned subsidiary of New York Life Insurance Company. Rider fees apply.
3. Any withdrawal prior to age 59½ will reduce your 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 your income guarantees.
*As long as no early access (non-lifetime) or excess lifetime withdrawals are taken against the policy's Accumulation Value (including applicable Market Value Adjustments and surrender charges).
For non-qualified contracts, withdrawals are subject to regular income taxes and are taxed "gains first" or "last in, first out". Once the Accumulation Value is reduced to $0, the lifetime income payments are fully taxable. 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.
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.
Issuing Company: New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Ave, 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.
Surrender Charges
The following surrender-charge schedule during the first seven years may be applied to withdrawals made before age 59½, or in excess of the guaranteed withdrawal benefit in years 1 to 7 of the contract:
CONTRACT YEAR 1 2 3 4 5 6 7
SURRENDER CHARGE 7% 7% 7% 6% 5% 4% 3%