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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

Power Index 5 NY

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Highlights

Power Index 5 NY is a 5-year solution with flexibility and guaranteed growth. This is a single premium deferred fixed index annuity. This annuity offers interest crediting that is linked to the price changes in the S&P 500 Index, the MSCI EAFE Index, and the Russell 2000 Index. 

Minimum Accumulation Value (MAV)
This feature ensures growth of your premium at a minimum Guaranteed Growth Rate of at least 1%, adjusted for prior withdrawals and any applicable withdrawal charges.  Power Index 5 NY locks in the greater of your contract value or the MAV on the 5th contract anniversary and every contract anniversary thereafter.
Available in states: NY
Type
Fixed Index
Purpose Accumulation
Term
5 Years
Surrender schedule
8%7%6%5%4%
Free withdrawal
1st year: 0%
2nd+ year: 10%
Market value adjustment
Return of premium
Launch date
03/28/2022
Minimum contribution
$25,000
Maximum contribution
$2,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Stretch IRA, Inherited IRA, NQ Stretch, and TSP
Brochure
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Find out if the Power Index 5 NY is the right product for you.

Premium Notes

Note: 
  • TSP funds have to be rolled into an IRA.
  • We allow inherited IRA/NQ assets so long as it is being stretched and provided no GLB is elected. We will not write any inherited fixed business and we will not write new business on inherited assets subject to either the 5-year or the 10-year rule.

Withdrawal Provisions

Penalty-Free withdrawals
After the first contract year, you are allowed to withdraw up to 10% of the contract value as of the preceding contract anniversary, without any withdrawal charges. You may not carry over the unused portion of the penalty-free withdrawal amount to the next contract year.

Allocation Accounts

Name Type Rates
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.75% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
7.75% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
7.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.75% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
8.75% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
8.75% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
5.85% Performance triggered
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
6.85% Performance triggered

Surrender schedule

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

Riders

No Riders for Power Index 5 NY annuity.

Waivers

Nursing Home

Withdrawal charges may be waived if you are confined to a nursing home or an assisted living facility. Restrictions and limitations apply.

Terminal Illness

The owner must be diagnosed with a Terminal Illness after the contract issue date. Only one partial or full withdrawal is permitted.

Extended Care

The owner must receive Extended Care for at least 90 consecutive days, beginning after the second contract year. The Extended Care may not have begun until after the second Contract Year. The rider terminates when the owner turns age 86.

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