What is a Secure Term MVA fixed annuity?

The New York Life Secure Term MVA Fixed Annuity comes with a Market Value Adjustment (MVA) provision that allows NYLIAC to offer a potentially higher initial interest rate than the rate of a product that does not offer this adjustment.

Are New York Life annuities safe?

Issuer Review: New York Life Annuities are NOT guaranteed. They are only backed by the ability of the issuing insurance company’s ability to pay. New York Life is rated A++ by A.M. Best, AAA by Fitch, AA+ by S&P, and Aaa by Moody’s. In 2017, NYLIC achieved the best possible ratings by the four credit rating agencies.

What is a New York Life variable annuity?

New York Life Variable Annuities are long-term investment vehicles used for retirement savings. Keep in mind, assets allocated to the Investment Divisions are subject to market risks and may fluctuate in value. There are fees and expenses associated with these contracts.

How do I cancel my NY life annuity?

To Cancel your New York Life subscription, contact Customer Service via phone (1-800-225-5695) or online (http://www.newyorklife.com/contact-us).

When to use MVA on New York life annuity?

The New York Life Secure Term MVA Fixed Annuity comes with a Market Value Adjustment (MVA) provision that allows NYLIAC to offer a potentially higher initial interest rate than the rate of a product that does not offer this adjustment. An MVA only applies when the policy owner surrenders or makes a withdrawal from the contract that is greater than

What are the interest rates on New York Life Annuities?

The New York Life Secure Term MVA Fixed Annuity II earns interest on term-by-term basis of either three, four, five, six or seven years, depending on what you decide is best. Your initial premium payment, the size of your growing account and other factors come together to form the exact interest rates you are given.

Is there a market value adjustment for New York Life?

Market Value Adjustment M( VA ) The New York Life Secure Term MVA Fixed Annuity comes with a Market Value Adjustment (MVA) provision that allows NYLIAC to offer a potentially higher initial interest rate than the rate of a product that does not offer this adjustment.

How does lifetime withdrawal benefit work with New York Life Annuities?

The Guaranteed Lifetime Withdrawal Benefit rider is automatically paired with this annuity. This rider takes your initial premium and retitles it your “income base.” On the anniversary of your contract’s creation, your income base is credited an annual increase at a 5% rate.