Index-Choice 10 New York

The Index-Choice 10 New York is a fantastic annuity product that assures consistent income for your golden years. It adapts to market trends, ensuring your hard-earned money is secure and well-managed.

One of its biggest perks is the flexibility it offers. You can easily change it to suit your financial goals. This product is a beacon of stability for your future retirement plan. Rest easy with Index-Choice!

Fidelity & Guaranty Life Insurance Company of New York
Index-Choice 10 New York-brochure Index-Choice 10 New York-brochure

Index-Choice 10 New York

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Ratings:

  • A.M. Best A
  • Fitch A-
  • S&P A-
  • Comdex 71

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About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
2%
Term
10 Years
Surrender schedule
10%10%10%9%8%7%6%5%4%2%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, Inherited IRA, and TSP
Launch Date
01/03/2006
FGNY Index-Choice 10 is a flexible-premium, indexed annuity. It is a highly competitive Indexed Annuity which offers four interest-crediting options to assist your clients in meeting their financial goals. Clients can select from a monthly average, an annual point-to-point, and a monthly point-to-point, all which are linked to a formula based, in part, on changes in the S&P 500; additionally, there is a traditional fixed interest account option.
Available in states: NY

Allocation Accounts

Name Type Rates
7-Year Fixed Account
Fixed
3% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
6% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
6.25% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2% Cap

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 10% 10% 10% 9% 8% 7% 6% 5% 4% 2%

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Riders

No Riders for Index-Choice 10 New York annuity.

Waivers

Death

Surrender charges waived at death.

Nursing Home

Confinement must begin at least 1 year after contract effective date. Must be confined to nursing home for at least 60 days. The nursing home waiver does not include home health care.

Terminal Illness

Diagnosis must be made at least 1 year after contract effective date and certified by licensed physician. Life expectancy must be less than 1 year.

Premium Notes

Eligible ages
Non-qualified: 0-85
Qualified: 18-85
If joint owner, eligibility is based on older ownerโ€™s age

Minimum premium:
  • $10,000 
  • The minimum Allocation to any account is $2,000 per contract year.
Maximum Premium
  • $1M and over requires home office approval 
Note: TSP funds have to be rolled into an IRA.

Withdrawal Provisions

Free partial withdrawals
Each contract year, after the end of the first contract year, a free partial withdrawal of up to 10% of premium as of the prior anniversary, less any prior free withdrawals taken during the current contract year, may be withdrawn. Interest will not be credited to any amounts surrendered. 

Withdrawals may be taken as: 
  • Systematic withdrawals on monthly, quarterly, or semi-annual basis with a minimum payment per the mode of $100; or; 
  • Up to 4 non-systematic withdrawals per year, with a minimum withdrawal amount of $500 
Death benefit
Prior withdrawals reduce benefit amounts. Interest rates are subject to change. Partial index credit, if applicable, paid up to the date of death. 
Paid as a lump sum - Account value, with the surrender charges, waived.

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