Take your dreams further. New York Life Lifetime Mutual Income Annuity New York Life Future Mutual Income Annuity
Retire confidently with guaranteed income and an opportunity for more. To help reach your retirement dreams, consider the powerful combination of guaranteed lifetime income and the opportunity for more income through dividends. 1 Whether you need income now, or sometime in the future, we can help you take your dreams further. We offer two annuity products that provide lifetime income and are eligible for dividends (known collectively as Mutual Income Annuities): Lifetime Mutual Income Annuity, a single premium immediate annuity Future Mutual Income Annuity, a deferred income annuity
Guaranteed lifetime income you can count on, no matter what. Mutual Income Annuities provide a base of guaranteed income for your retirement. Income payments start when you need them to, are free from market risk, and are guaranteed by New York Life, the #1 provider of income annuities in the industry.2 These payments are guaranteed for the rest of your life. Plus, enjoy the opportunity for more income by sharing in New York Life s mutuality. Mutual Income Annuities also offer the opportunity to share in annual dividends, if they are declared. You can use dividends to buy additional guaranteed income. New York Life Insurance Company has paid yearly dividends to our life insurance policyholders for over 160 consecutive years.3 As a mutual company, our interests are uniquely aligned with those of our policyholders.
How it works. 01. Depending on your income needs, you can purchase Mutual Income with a single premium (Lifetime Mutual Income), or fund it flexibly over time (Future Mutual Income). 02. 03. Your guaranteed income payments begin on the date of your choosing within the first year after purchase (Lifetime Mutual Income) or within the first 2 40 years (Future Mutual Income) and last your entire life. Your guaranteed income amount will never go down and is based on your age, the payment option elected, the premium amount, and the payout rates in effect at the time of purchase. Guaranteed income payments and dividend scales can vary based on different factors, including the date we receive your premium payment and apply it to the contract. Each year, you have the opportunity to receive a dividend from New York Life. You can use this dividend to: a. Purchase additional guaranteed lifetime income increasing guaranteed income in the policy. Plus, these additional guaranteed income amounts are also eligible for dividends. b. Take the dividend as cash to use today. 4,5 c. Have a combination of cash and purchase additional income. 1 Dividends are not guaranteed. 2 Source: LIMRA, current rankings. Based on premium amount each year since 2006. 3 Please note that the company s previous history of dividend declarations and payments has primarily been in connection with its participating life insurance business. Mutual Income Annuities are participating annuity products, meaning they are also eligible to receive dividends when they are declared. However, the dividend scale for Mutual Income Annuities will not be based on or related to the life insurance dividend scale. Mutual Income Annuities are new, and have no dividend history. Annuity premiums will be invested in a new portfolio that is separate and distinct from the existing life insurance portfolio. You should not compare the dividend-paying history of our life insurance policies or use that history in your decision to purchase this annuity. Guaranteed income payments and dividend scales can vary based on different factors, including the date we receive the premium payment or the date we apply a dividends to purchase additional income. Total income you may receive may reflect different guaranteed amounts and different dividend scales for each income purchase. 4 Future Mutual Income Annuities held in tax-qualified plans cannot take the dividend in cash during the deferral period. 5 No dividends are payable on the first policy anniversary. Dividends, if declared, are payable beginning on the second policy anniversary (i.e. 24 months after issue). Cash dividends, if elected, are paid in a lump-sum. For more information about income from Mutual Income Annuities, please request a personalized illustration. Guarantees are backed by the claims-paying ability of the issuer. The policy form number for the New York Life Lifetime Mutual Income Annuity is 214-P200. The policy form number for the New York Life Future Mutual Income Annuity is 215-P200.
Future Mutual Income (Deferred Income Annuity) Potential dividends taken as cash Dividends (used to buy Guaranteed Income) Additional Guaranteed Income (purchased with dividends) Guaranteed Income (paid at income start date) Purchase age Income start date Life expectancy Lifetime Mutual Income (Single Premium Immediate Annuity) Additional Guaranteed Income (purchased with dividends) Potential dividends taken as cash Guaranteed Income Purchase age Life expectancy The graphics above are intended to help you understand the interplay between the guaranteed income and potential dividends from the Mutual Income Annuities. They are not intended to suggest actual payment amounts or ratios between guaranteed income and dividends, or future expected dividend payments. Dividends may not always be declared, and dividend rates can fluctuate from year to year. For more information about the income you may receive, request a personalized illustration. New York Life offers guaranteed income annuities that have higher guaranteed income than Future Mutual Income and Lifetime Mutual Income Annuities, but do not offer the opportunity for dividends.
New York Life Lifetime Mutual Income Annuity New York Life Future Mutual Income Annuity New York Life Insurance Company New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation) 51 Madison Avenue New York, NY 10010 www.newyorklife.com 14893.112015 SMRU1644235 (Exp.11.12.2017)