New York Life Premier Variable Annuity
This New York Life Premier Variable Annuity II review will provide an objective, plain-English, and transparent look at this retirement product. The best way to learn about annuities is by digging into each of these areas. While you may hear some facts during a sales call, this isn’t a good way to learn. That’s why we’ve created a guide to help you decide which annuity is best for you.
Review of New York Life Premier Variable Annuity II
In this Review of New York Life Premier Variable Annuncy II, we’ll take a closer look at the product and what it can do for you. This annuity is designed to increase your retirement savings while also helping you reach your financial goals. Because it’s designed for accumulation, it can be used in conjunction with other savings and retirement accounts. But be careful: there are fees and charges that will reduce the overall return.
The product prospectus for the New York Life Premier Plus Variable Annuity II will provide detailed information about the product’s features, fees, and risks. It will also answer many frequently asked questions and provide the latest performance information. The prospectus will also tell you which riders are available, including Automatic Asset Rebalancing and Future Income. However, be sure to read the entire prospectus to ensure you understand all of the information before investing.
The New York Life Premier Variable Annuity I and II have several attractive features. You can download a copy of the prospectus by visiting their website. Each plan has different fees and surrender charges, so you should consider each one carefully. New York Life’s fee structure is unique and patented. But this does work against you if you’re already invested a certain amount. And if your account grows past $500k, you’ll still pay the fee if you don’t want to withdraw it sooner.
Review of New York Life Secure Term MVA Fixed Annuity II
The New York Life Secure Term MVA Fixed Annuity II is a retirement plan that guarantees a certain interest rate. Withdrawals may be made as long as the account balance has grown at least 5% over the term. If you withdraw more money than that, you can surrender the account and receive a refund of your premium. The New York Life Secure Term MVA Fixed Annuity II is available for individuals who are between 86 and 90 years old.
The Secure Term MVA Fixed Annuity offers flexible payout options, including the Living Needs Benefit/Unemployment Rider. This rider lets annuitants access funds in certain situations. These include total or permanent disability, not working for a year, and receiving state unemployment benefits for 60 consecutive days. It also allows beneficiaries to choose their own payout styles. A beneficiary may choose from one of five payout styles.
This variable annuity has a minimum premium of $5,000. It charges a 0.53% – 1.67% fund expense fee and 1.30% mortality expense/administration charge. It also offers a guaranteed annual bonus of 7%. The New York Life Secure Term MVA Fixed Annuity II is a good choice for investors with less experience with retirement planning. In addition to the flexibility it offers, this product also allows for downside protection.
Review of New York Life Guaranteed Lifetime Income Annuity II
Purchasing a New York Life Guaranteed -Living Income Annuity II policy is a great way to secure your future. New York Life annuities provide lifetime income, and many of them can also be set up to cover two lives. In addition, you can include beneficiaries who will receive a portion of the payouts after you die. These products are also beneficial in that they are tax-deferred.
You can purchase a new policy by making purchase payments of any amount between $5,000 and $1 million. If you are under age 59 1/2, you can take advantage of a 0% or 1% annual increase. Other income options are automatic inflation adjustments and a changing needs option. The only downside of the Guaranteed Lifetime Income Annuity II is that it will be taxed, so you may want to take this into consideration if you’re considering this type of insurance.
If you’re considering a NY Life Guaranteed Living Income Annuity II, you’ll probably be able to use the bonus rate to supplement your retirement savings. However, you’ll need to consider the downsides of replacing the bonus with another product. This is why you’ll want to review the annuity’s features carefully. You want to be sure you understand all of the implications of replacing the bonus, and that it meets your needs.