New York Life Premier Variable Annuity—P Series with Investment Preservation Rider—P Series Video

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.

Investing in a variable annuity involves risk of loss—investment returns and contract value are not guaranteed and will fluctuate.

This information is intended to be educational and is not tailored to the investment needs of any specific investor.

Diversification and asset allocation do not ensure a profit or guarantee against loss.

The Investment Preservation Rider—P Series (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 Withdrawals reduce the IPR guaranteed amount proportionally, which may be more than the actual dollar amount withdrawn; so the rider is not intended for clients who anticipate taking substantial withdrawals (including IRS required minimum distributions) before the completion of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.

The option to reset is available during the holding period through age 75.

Tax-qualified plans already provide tax deferral; a variable annuity will not provide additional tax advantages. As variable annuities offer investment and insurance features, they may be subject to fees to which other tax-qualified funding vehicles are not.

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. Surrender charges may also apply.

The name, benefits, and guidelines of the Investment Preservation Rider—P Series may vary in some jurisdictions.

Issuing company: 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.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, and Fidelity Insurance Agency, Inc., are the distributors; they are not affiliated with any New York Life Insurance Company. The contract's financial guarantees are solely the responsibility of the issuing company.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917