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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%
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Power Index Premier NY

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Highlights

The Power Index Premier NY index annuity is for clients looking for an opportunity to participate in interest earned based on the positive change in an index, while also addressing risk for retirement income. And being one of the only index annuity products available in New York with an income protection feature, the new Power Index Premier NY can be the retirement solution that may help to secure a stream of guaranteed lifetime income for your Financial Professional’s clients.
Available in states: NY
Type
 Fixed Index
Purpose Accumulation
Term
 7 Years
Surrender schedule
 9%8%7%6%5%4%3%
Free withdrawal
 1st year: 0%
2nd+ year: 10%
Market value adjustment
Return of premium
Launch date
 10/13/2020
Minimum contribution
 $25,000
Maximum contribution
 $2,000,000
Max Age Qualified
 85
Types of funds
 Non-Qualified, IRA, IRA Rollover, IRA Transfer, Stretch IRA, Inherited IRA, NQ Stretch, and TSP
Brochure
 Open brochure

Find out if the Power Index Premier NY is the right product for you.

Premium Notes

Notes: 
  • 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.
  • a non-New York resident may purchase Power Index Premier NY as long as purchasing the annuity was not the sole purpose for them being in the state and as long as the policy is delivered in New York.

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.
 
RMDs
All withdrawals will reduce your contract value. Withdrawal Charges will not apply to RMDs attributable to the contract. RMDs count against the 10% FW Amount and the Guaranteed Lifetime Income Amount (if the Lifetime Income Builder GLB rider is elected).

Allocation Accounts

Name Type Rates
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.25% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
8.25% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
8.25% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
9.25% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
9.25% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
9.25% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
6.35% Performance triggered
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
7.35% Performance triggered

Surrender schedule

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

Riders

No Riders for Power Index Premier NY annuity.

Waivers

Nursing Home

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

Terminal Illness

Withdrawal Charges and MVA may be waived if you are diagnosed with a terminal illness. Restrictions and limitations apply. 

Extended Care

Withdrawal Charges and MVA may be waived if you have extended care needs. Restrictions and limitations apply.

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