Secure Term Choice II
New York Life Insurance and Annuity Corporation (NYLIAC)
4.2%
Best Rate
10%
Free W/D
53
States
A single-premium fixed deferred annuity that guarantees your interest rate for 3-7 years while you choose surrender terms that fit your needs. Best for conservative investors seeking guaranteed growth, predictable income, and principal protection.
Free Withdrawal
10%/yr
Available In
53 states
Min Premium
$5,000
Surrender
7 years
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 3-Year | 4.05% |
| 4-Year | 4.1% |
| 5-Year | 4.1% |
| 6-Year | 4.2% |
| 7-Year | 4.2% |
Key Features
Flexible Guarantee Periods
3-7 yearsChoose 3, 4, 5, 6, or 7-year initial rate guarantee periods matched to corresponding surrender charge schedules
Minimum Premium
$5,000 to $10,000Low entry point for non-qualified and IRA accounts; slightly higher for pension plans
Return of Premium Benefit
Effective after 24 months (or immediately for ages 86-93)Guarantees return of at least your premium less withdrawals, with surrender charges capped at total interest earned
Free Annual Withdrawals
Up to 10% annuallyWithdraw the greater of 10% of prior-year value, 10% of current value, or 100% of gains without surrender charges
Surrender Charges
3%-7% declining scheduleScaled by term length and policy year, declining from 7% to 3% depending on your chosen period
Guaranteed Minimum Interest Rate (GMIR)
At least 1.00% in New York; varies by stateAfter initial period ends, policy receives annual renewal rates that never fall below the guaranteed minimum
No Annual Fees
$0No policy maintenance, administration, or other ongoing annual charges
Death Benefit
100% of accumulation valueBeneficiaries receive full accumulation value if death occurs before annuitization
Highlights
Choose your own guarantee period (3-7 years) to match your timeline and risk tolerance
Return of Premium benefit protects your initial investment after 24 months (or immediately for ages 86-93)
No annual fees—no policy maintenance or administration charges
Flexible withdrawals with free access to gains and 10% of accumulation value annually
Highest financial ratings from all four major rating agencies (A++, AAA, AA+, Aaa)
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%
Nursing home waiver, Terminal illness waiver
Best For
Conservative investors seeking guaranteed interest rates, predictable accumulation, principal protection, and regular access to gains without penalties—especially retirees and those nearing retirement.
Consider Alternatives If
Investors who need immediate access to principal, require liquidity before the surrender period ends, or seek growth above guaranteed rates.
Carrier Ratings
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