CUSIP Number:
64952V337
CUSIP Name:
MYGA Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
17 Jul 2017
Close Date:
CUSIP Note:
Scrap Book:
The New York Life Secure Term MVA Fixed Annuity IV is a single premium deferred annuity with a market value adjustment (MVA). The minimum initial contribution is $50,000 for qualified and non-qualified money. 10% of the accumulated value as of the previous contract anniversary may be withdrawn beginning in contract year one. Systematic withdrawal is an option. Surrender charges are seven years in duration and are waived in the event of annuitization, death, disability, diagnosis of a terminal illness, unemployment, or entrance into a health care facility (a state licensed/certified assisted living facility or nursing home). Some states may offer the rider under a different name and benefits may vary. GMSV is 87.5% and GMIR is 1% Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges and an MVA may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
09 Jul 2025 05:59