CUSIP Number:
64953A126
CUSIP Name:
MYGA Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
02 Jan 2012
Close Date:
CUSIP Note:
Scrap Book:
The New York Life Secure Term Choice Fixed Annuity III is a single premium deferred annuity. The minimum initial contribution is $5,000 for qualified and non-qualified money. 10% of the accumulated value as of the previous contract anniversary may be withdrawn beginning in contract year one.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. The Free Look Period varies by state. This product has a Return of Premium Benefit, which allows for a return of at least the premium paid, less any prior withdrawals and/or surrender charges related to withdrawals made before the Return of Premium Effective Date (currently the second policy anniversary). Surrender charges on withdrawals taken on or after the Return of Premium Effective Date (currently the second policy anniversary) will never exceed the total interest credited to the policy. Surrender charges are five, six, or 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). 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 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:
16 Dec 2025 12:09