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Withdrawals beyond the free-withdrawal allowance or full surrender during the guarantee period are subject to declining surrender charges. An MVA may apply, adjusting the value upward or downward based on interest-rate changes since issue. After the term, no charges or MVA apply.

Withdrawals exceeding the annual free-withdrawal limit, or a full surrender during the selected surrender-charge period (3–7 years), are subject to surrender charges. Charges vary by guarantee period and decline by schedule until the end of the term.

Optional at issue; provides an opportunity to benefit from rising rates based on specified 10-year Treasury rate triggers and check dates. Electing IOR results in a lower initial guaranteed rate than if not elected. 

• Enhanced Beneficiary Benefit Rider (EBB):

 Optional at issue; may add an additional benefit (calculated as a percentage of earnings at death, adjusted for withdrawals). Includes a 0.30% annual charge deducted quarterly (charge discontinued after the 25th anniversary). Not available on Traditional IRA, Roth IRA, Inherited IRA, and SEP IRA policies.

If the owner dies before annuitization, beneficiaries receive the policy’s full accumulation value.

 Automatically added with no additional fee. If the owner meets a qualifying event (health care facility confinement, terminal illness, or total and permanent disability as defined), the owner may be eligible for a withdrawal or to receive the accumulation value with a full or partial waiver of surrender charges, subject to rider terms (including that the policy must generally be in force for at least one year).

Each policy year, you may withdraw the greatest of (1) 10% of the accumulation value as of the previous anniversary, or (2) 10% of the current accumulation value. Minimum withdrawal is $100, and the accumulation value may not fall below $2,000 due to a partial withdrawal. Withdrawals above the free withdrawal amount are subject to surrender charges based on the guarantee period selected.

 funds. It is issued as a single-premium deferred annuity, meaning that only one premium payment is allowed at issue, and no additional contributions may be made later.

Secure Term V is a Single Premium Deferred Fixed Annuity (SPDA). The owner makes a one-time premium payment, selects a guarantee period of 3, 4, 5, 6 or 7 years. During that period the contract earns the fixed “initial interest rate” as declared at issue (and locked in for the term), compounded daily. At the end of the guarantee term, the annuity converts to a renewal interest rate each policy anniversary (never below the contract’s Guaranteed Minimum Interest Rate — GMIR) until surrender or annuitization. 

At the end of the guarantee period, the policy will 

automatically renew at New York Life’s then-current declared rate,

 which will not be less than the GMIR. At that time, policyholders may also choose to withdraw the full accumulation value without any surrender charge, giving them complete flexibility at maturity.

During the selected guarantee period, the surrender value is equal to the accumulation value minus any applicable surrender charges. After the surrender charge period ends, the full accumulation value is available without penalty, providing complete liquidity at maturity.

New York Life Secure Term V™ Fixed Annuity

 is a single-premium Multi-Year Guaranteed Annuity (MYGA) offering fixed interest rates for terms of 3 to 7 years. It provides guaranteed growth with full protection of principal, and penalty-free annual withdrawals up to 10% of account value, or required minimum distributions (RMDs) if greater. The product includes surrender charge waivers for qualifying events such as terminal illness, nursing home confinement, or unemployment. A declining surrender charge schedule applies during the guarantee period. At maturity, policyholders may renew into a new guarantee period, reinvest, or withdraw their accumulation value in full without penalty.

Withdrawals above the annual free-withdrawal amount, or full surrender during the surrender charge period, may be subject to surrender charges and (for excess withdrawals/surrenders during the period) an MVA. Charges decline by year and reach 0% after the term ends.

Living Needs Benefit/Unemployment Rider automatically included where available. (varies by state). 

If the owner dies prior to annuitization, beneficiaries receive the policy’s full accumulation value.  

Living Needs Benefit/Unemployment Rider (included automatically at no additional fee): may allow access to policy value with a full or partial waiver of surrender charges under qualifying events (as described in the fact sheet).

Each policy year, you may withdraw 10% of the accumulation value as of the last policy anniversary without surrender charges. Withdrawals over the free withdrawal amount (or over the RMD amount calculated by New York Life) during the surrender charge period may be subject to surrender charges and MVA.

Secure Term MVA Fixed Annuity II is a Single Premium Deferred Fixed Annuity (SPDA) funded by a one-time premium payment (no additional premium payments). The owner selects a 3-, 4-, 5-, 6-, or 7-year guarantee period that aligns with a surrender charge period. Interest is credited at a fixed rate for the selected period. After the initial guarantee period ends, the policy receives a renewal rate guaranteed for one year, and the crediting rate will not be less than the policy’s GMIR (guaranteed minimum interest rate).

After the initial guarantee period, the policy receives a one-year guaranteed renewal rate; renewal rates will not be less than the GMIR stated in the policy.

The MVA is an increase or decrease applied when the owner surrenders during the surrender charge period or takes a withdrawal above the surrender-charge-free amount during the surrender charge period. The MVA is based on a formula that considers time remaining in the surrender period and changes in a reference index from issue to withdrawal/surrender date. The MVA cannot reduce the surrender value below a floor defined in the fact sheet (premiums paid, less certain adjustments, accumulated at the GMIR), though surrender charges can still further reduce what the owner receives.

New York Life Secure Term MVA Fixed Annuity II™

 is a single-premium fixed deferred annuity issued by New York Life Insurance and Annuity Corporation (NYLIAC) that provides fixed, tax-deferred interest growth with a choice of 3-, 4-, 5-, 6-, or 7-year initial interest-rate guarantee periods. This version includes a Market Value Adjustment (MVA), which can allow for potentially higher initial credited rates compared to a non-MVA product, in exchange for the possibility that an MVA may increase or decrease values if the owner takes certain withdrawals/surrenders during the surrender charge period.

Withdrawals above the annual free-withdrawal amount, or a full surrender during the selected surrender charge period, may be subject to surrender charges. Surrender charges decline by year and reach 0% after the guarantee/surrender period ends.

Enhanced Beneficiary Benefit (EBB) Rider (optional; not available in New York): provides an additional death benefit calculated as a percentage of earnings in the policy at death (adjusted for withdrawals) and includes an annual rider charge deducted quarterly (per rider terms).

None. No annual policy maintenance fee or policy administration fee.

If the owner dies prior to annuitization, beneficiaries receive the policy’s full accumulation value.

Living Needs Benefit / Unemployment Rider (included at no additional fee): 

may provide a full or partial waiver of surrender charges (or access to accumulation value) if eligibility rules are met and the qualifying event occurs on/after policy date; policy generally must be in force for at least one year prior to receiving benefits. Qualifying events listed include health care facility confinement (60 consecutive days), terminal illness (life expectancy of 12 months or less), total and permanent disability (12 consecutive months), or state unemployment benefits (60 consecutive days).

Each policy year, the owner may withdraw the greatest of: (1) 10% of accumulation value as of the prior anniversary, or (2) 10% of current accumulation value, or (3) 100% of gain earned in the policy for premium amounts of $100,000+(availability varies by state; not available in New York per the fact sheet notation). Withdrawals above the free amount may be subject to surrender charges during the surrender charge period. Minimum withdrawal is $100, and the accumulation value cannot fall below $2,000 due to a partial withdrawal.

 issued as a single-premium deferred annuity. No additional premiums permitted.

Secure Term Choice Fixed Annuity II is a Single Premium Deferred Fixed Annuity (SPDA) funded with one premium payment, designed for tax-deferred accumulation (taxes generally due when distributions are taken). The contract credits interest daily and compounds to an effective annual yield. The owner selects a 3-, 4-, 5-, 6-, or 7-year guarantee period; after that period ends, the policy receives a renewal rate guaranteed for one year (and not less than the policy GMIR). 

After the initial interest-rate guarantee period, the policy receives a renewal rate guaranteed for one year each anniversary. The crediting rate will not be less than the GMIR stated in the policy.

Accumulation value is defined as premium plus interest credited, less withdrawals, less any assessed surrender charges, and less any required state premium tax; accumulation value will not be less than the policy nonforfeiture value (as defined in the policy).

New York Life Secure Term Choice Fixed Annuity II™

 is a single-premium fixed deferred annuity issued by New York Life Insurance and Annuity Corporation (NYLIAC) that provides fixed, tax-deferred interest growthwith a choice of 3-, 4-, 5-, 6-, or 7-year initial interest-rate guarantee periods. During the selected guarantee period, the interest rate is locked in (effective annual yield, compounded daily), and the term chosen corresponds to a matching surrender charge schedule. At the end of the guarantee period, the contract renews annually at a declared renewal rate, subject to the contract’s guaranteed minimum interest rate (GMIR).

Clear Income Advantage™–FP Series has a 7-year surrender-charge period. Withdrawals above the surrender-charge-free withdrawal amount, or a full surrender during the surrender-charge period, are subject to surrender charges and may also be subject to an MVA. After the surrender-charge period ends, surrender charges and the MVA no longer apply. 

The Guaranteed Lifetime Withdrawal Benefit Rider is automatically included, providing guaranteed lifetime income. The Living Needs Benefit/Unemployment Rider is also automatically included where approved.

If death occurs prior to annuitization, beneficiaries receive the remaining Accumulation Value (subject to contract provisions).

Living Needs Benefit / Unemployment Rider: Automatically included with no additional fee (availability varies by state). Qualifying events may allow access that waives surrender charges, and the material notes the MVA does not apply to withdrawals taken under this rider or to RMDs as calculated by NYLIAC.

During the surrender-charge period, the contract provides a surrender-charge-free (and MVA-free) withdrawal amount. The fact sheet describes this free withdrawal amount as the greatest of: (1) the annual GLWB amount once lifetime withdrawals have begun, (2) 10% of Accumulation Value as of the prior anniversary, (3) 10% of current Accumulation Value, (4) 100% of policy gain for contracts with premium of $100,000 or more, and (5) the annual required minimum distribution (RMD) amount. Withdrawals taken prior to or in excess of the GLWB amount reduce the GLWB benefit proportionally.  

Clear Income Advantage™–FP Series (MVA) is a Single Premium Deferred Annuity (SPDA) that credits a fixed interest rate to the Accumulation Value, generally aligned to a 7-year interest rate guarantee period that corresponds to a matching 7-year surrender-charge schedule. After the initial guarantee period, the contract receives a declared renewal rate each anniversary (not less than the Guaranteed Minimum Interest Rate stated in the policy). The GLWB rider is automatically included and intended to be used for lifetime income; withdrawals prior to or in excess of the GLWB amount can reduce the guaranteed lifetime withdrawal amount proportionally. 

The fixed interest rate is guaranteed for an initial guarantee period that corresponds to the surrender-charge schedule. At the end of that initial period, the contract renews with a new declared renewal rate each anniversary based on Accumulation Value, subject to the guaranteed minimum interest rate (GMIR) stated in the contract. (A specific “renewal window” is not described in the client fact sheet.)

The surrender value is equal to the accumulation value less applicable surrender charges and any market value adjustment (MVA) during the 7-year surrender charge period. After the period ends, the full accumulation value is available without charge.

 is a single-premium fixed deferred annuity issued by New York Life Insurance and Annuity Corporation (NYLIAC) that combines fixed, tax-deferred accumulation with a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) rider for clients focused on creating predictable retirement income they can’t outlive. It is designed for investors who want guaranteed lifetime income with flexibility to access funds, while accepting a 7-year surrender-charge period and a Market Value Adjustment (MVA) structure on excess withdrawals or full surrender during that period.  

New York Life – Secure Term V™ Fixed Annuity (3, 4, 5, 6, 7-Year Terms)

New York Life – Secure Term MVA II™ Fixed Annuity (3, 4, 5, 6, 7-Year Terms)

New York Life – Secure Term Choice II™ Fixed Annuity (3, 4, 5, 6, 7-Year Terms)

New York Life – Clear Income Advantage™ Fixed Annuity – FP MVA