Clear Income Advantage - FP Series
New York Life Insurance and Annuity Corporation (NYLIAC)
1%
Best Rate
10%
Free W/D
53
States
A fixed deferred annuity that guarantees you lifetime income starting on a date you select, with the security of a fixed interest rate and no market volatility. Designed for individuals age 50-80 who want predictable retirement income.
Free Withdrawal
10%/yr
Available In
53 states
Min Premium
$50,000
Surrender
7 years
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 7-Year | 1% |
Key Features
Guaranteed Lifetime Withdrawal Benefit (GLWB)
Lifetime income protectionEnsures you receive guaranteed income payments for life, starting on a date you select
Fixed Interest Rate
Principal protection + guaranteed growthYour money earns a set interest rate with no market risk; rate renews after 7 years
Early Access Withdrawal
Flexibility without losing future incomeTake one penalty-free withdrawal before lifetime payments begin without interrupting income growth
Low Annual Fee
0.95% annuallyCharged quarterly at 0.95% of accumulation value; stops when balance reaches zero
Flexible Funding
Multiple funding optionsFund via tax-free exchange from 401(k), IRA, or existing annuity, or use savings and inheritance
Payment Flexibility
Customizable payment scheduleReceive income monthly, quarterly, semi-annually, or annually by check or direct deposit
Surrender Charges
Year 1-3: 7%, Year 7: 3%7-year declining schedule (7% to 3%) applies to early withdrawals before age 59½ or above the guaranteed amount
Highlights
Guaranteed lifetime income you can start whenever you choose
Fixed interest rates with no market risk to your principal
Flexibility to take one early withdrawal without interrupting income growth
Low annual fee of 0.95% deducted quarterly
Available for ages 50-80 with a $50,000 minimum investment
Surrender Schedule
Yr 1
7%
Yr 2
7%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Activities of daily living, Nursing home waiver, RMD waiver, Unemployment waiver
Best For
Individuals age 50-80 with at least $50,000 to invest who prioritize guaranteed lifetime income over growth and want protection from market volatility.
Consider Alternatives If
Those who need immediate access to funds without penalties, investors seeking market-based growth potential, or individuals under 50 or over 80.
Carrier Ratings
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