IndexFlex 5 - FP Series
The IndexFlex 5 - FP Series offers peace of mind for retirees seeking safety and growth for their nest egg. With impressive growth opportunities tied to market performance, yet shielded from market downturns, this annuity ticks all the boxes.
A standout feature is the product's flexibility, allowing you to tailor income to suit your retirement needs. With the IndexFlex 5, you're setting yourself up for a secure and comfortable retirement.
IndexFlex 5 - FP Series
About Product
The amount of interest an investor can earn in the Index-linked Account depends on the Interest Crediting Method. There are two crediting method options, both of which have rates that are guaranteed to remain in effect for the policy term selected: 5, 6, or 7 years. These guarantees apply only to amounts invested in the Index-linked Account at time of policy application.
A fixed account is also available (where approved). All guarantees, including those in the Fixed Account and the Index-linked Account, are backed by the claimspaying ability of New York Life Insurance and Annuity Corporation (NYLIAC).
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.4%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.5%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
7.05%
Cap
|
| 1-Year Russell 2000 PTP Enhanced Cap |
Point to Point
Annual
|
9.05%
Cap
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
8.5%
Cap
|
| 1-Year Russell 2000 Enhanced Performance Triggered |
Performance Triggered
Annual
|
7.8%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
5.7%
Performance triggered
|
| 1-Year S&P 500 Enhanced Performance Triggered |
Performance Triggered
Annual
|
7.2%
Performance triggered
|
| 1-Year Russell 2000 Performance Triggered |
Performance Triggered
Annual
|
6.3%
Performance triggered
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.85%
Cap
|
| 1-Year Russell 2000 PTP Enhanced Cap |
Point to Point
Annual
|
9.4%
Cap
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
8.85%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
7.4%
Cap
|
| 1-Year Russell 2000 Performance Triggered |
Performance Triggered
Annual
|
6.65%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6.05%
Performance triggered
|
| 1-Year S&P 500 Enhanced Performance Triggered |
Performance Triggered
Annual
|
7.55%
Performance triggered
|
| 1-Year Russell 2000 Enhanced Performance Triggered |
Performance Triggered
Annual
|
8.15%
Performance triggered
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
7.85%
Cap
|
| 1-Year Russell 2000 PTP Enhanced Cap |
Point to Point
Annual
|
9.85%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.25%
Cap
|
| 1-Year Russell 2000 Performance Triggered |
Performance Triggered
Annual
|
7.1%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6.5%
Performance triggered
|
| 1-Year S&P 500 Enhanced Performance Triggered |
Performance Triggered
Annual
|
8%
Performance triggered
|
| 1-Year Russell 2000 Enhanced Performance Triggered |
Performance Triggered
Annual
|
8.6%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% |
Riders
No Riders for IndexFlex 5 - FP Series annuity.
Waivers
Nursing Home
Unavailable in states: CA
This rider provides for an increase in the amount that can be withdrawn from the policy without a surrender charge when certain qualifying events occur. With this rider you may be eligible to receive all or a portion of the Accumulation Value of your policy without paying a surrender charge if you provide satisfactory proof that a Qualifying Event (as defined below) has occurred. To receive the rider benefit, your policy must have been in force for at least one year and have an Accumulation Value of at least $5,000. The Qualifying Event must occur on or after the Policy Date. For the disability portion of the rider, any withdrawal after your 66th birthday will not be eligible for the rider benefit and surrender charges may apply. In addition, none of the benefits of this rider are available for policies where any Owner has attained age 86 on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant. Home Health Care acceptable. Health Care Facility: The Owner is enrolled and living in a Health Care Facility for 60 consecutive days. Health Care Facility means a state licensed/certified nursing home/assisted living facility. For the Disability portion of the rider, we may also require proof of continued disability as of the date of the withdrawal.
Terminal Illness
Unavailable in states: CA
This rider provides for an increase in the amount that can be withdrawn from the policy without a surrender charge when certain qualifying events occur. With this rider you may be eligible to receive all or a portion of the Accumulation Value of your policy without paying a surrender charge if you provide satisfactory proof that a Qualifying Event (as defined below) has occurred. To receive the rider benefit, your policy must have been in force for at least one year and have an Accumulation Value of at least $5,000. The Qualifying Event must occur on or after the Policy Date. For the disability portion of the rider, any withdrawal after your 66th birthday will not be eligible for the rider benefit and surrender charges may apply. In addition, none of the benefits of this rider are available for policies where any Owner has attained age 86 on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant. Terminal Illness: A determination by a licensed physician that the Owner has a life expectancy of 12 months or less.
Disability
Unavailable in states: CA
This rider provides for an increase in the amount that can be withdrawn from the policy without a surrender charge when certain qualifying events occur. With this rider you may be eligible to receive all or a portion of the Accumulation Value of your policy without paying a surrender charge if you provide satisfactory proof that a Qualifying Event (as defined below) has occurred. To receive the rider benefit, your policy must have been in force for at least one year and have an Accumulation Value of at least $5,000. The Qualifying Event must occur on or after the Policy Date. For the disability portion of the rider, any withdrawal after your 66th birthday will not be eligible for the rider benefit and surrender charges may apply. In addition, none of the benefits of this rider are available for policies where any Owner has attained age 86 on the Policy Date. If the Owner(s) is not a natural person, all restrictions and benefits of the rider are based on the Annuitant. Disability: determination by a licensed physician that the Owner has a disability that prevents them from performing any work for pay or profit for at least 12 consecutive months.
Premium Notes
If you allocate 50% or more of your initial premium to variable investment options, to the Fixed Account, or to any combination thereof, your policy will qualify for Enhanced Crediting Rates each year that the account is eligible for Initial Term index-linked credits. If, as a result of transfers or withdrawals, your policy no longer qualifies for Enhanced Crediting Rates, Core Cap and Flat Rates will be used to calculate interest credits for the remainder of the Initial Term.
Withdrawal Provisions
Free withdrawalsIn each policy year during the surrender charge period, the client may withdraw up to 10% of the account value as of the last policy anniversary (10% of the premium payments if the withdrawal is made in the first policy year). Withdrawals in excess of that amount are subject to surrender charges
- A.M. Best A++
- Fitch AAA
- S&P AA+
- Moody's Aaa
- Comdex 100
