CUSIP Number:
638661132
CUSIP Name:
5 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
01 Jun 2009
Close Date:
CUSIP Note:
Scrap Book:
The Platinum V NY is a Single Premium Deferred Annuity. The initial minimum contribution is $2,000 qualified and $5,000 non-qualified. There is an annual 10% non-cumulative free withdrawal of accumulated value. Systematic withdrawals are an option. The surrender charge schedule is ten years in duration (6,6,6,6,6,5,4,3,2,1) and are waived in the event of annuitization or death, death, diagnosis of a terminal illness and nursing home confinement (may not be available in all states). There is a 60-day window at the beginning of the 6th contract year which allows access to part or all accumulated funds without a surrender charge. Withdrawals may be subject to Federal/State income tax, and if taken prior to age 59 1/2, a 10% Federal Penalty tax. Guarantees based on claims paying ability of insurer. This is an annuity contract issued by an insurance company and not securities or bank products protected by the FDIC.
Last Modified:
16 Dec 2025 11:51