New York Life
Key Company Metrics
AM Best Rating: A++ (Superior)
Years in Business: 180 Years
Direct Premiums Sold: $21.3 billion
Product Availability: Fixed, variable, and income annuities.
“Unmatched stability and trusted payouts, New York Life is the gold standard for long-term security.”
– Annuity.org Agent Poll Insight
New York Life Product Types & Features
New York Life offers a selection of single premium fixed annuities designed for safety, predictable growth, and flexible withdrawal options. All products require a $5,000 minimum premium, have interest rate guarantee periods between three and seven years, and carry no annual policy maintenance or administration fees.
Secure Term Choice Fixed Annuity II
Guarantees the return of at least the premium paid (minus withdrawals or surrender charges). Owners may withdraw up to 10% of the contract’s accumulated value annually without penalty. Includes the no-fee, automatic Living Needs Benefit/Unemployment rider plus the optional Enhanced Beneficiary Benefit rider.
Who It Works Best For: Retirees who want principal protection and the flexibility to access a portion of their funds each year without reducing the guaranteed value.
Secure Term MVA Fixed Annuity II
Includes a market value adjustment (MVA) provision, which may increase or decrease the contract value for withdrawals made before the surrender period ends. The MVA feature allows New York Life to offer more competitive interest rates.
Who It Works Best For: Investors seeking higher interest crediting potential and who are comfortable with possible value adjustments if withdrawing early.
Secure Term Choice Fixed Annuity V
Offers a free living needs benefit, allowing withdrawals without surrender charges if the owner becomes terminally ill or is confined to a health care facility for 60+ days. Optional riders, such as an interest opportunity rider or enhanced beneficiary benefit rider, are also available.
Who It Works Best For: Clients who want long-term growth but also value built-in health-related withdrawal benefits and the ability to customize coverage with additional riders.
How soon are you retiring?
What is your goal for purchasing an annuity?
Select all that apply
New York Life’s Variable Annuities
New York Life offers variable annuity products designed to combine market growth potential with principal protection options, making them appealing for retirement savers who want tax-deferred growth and flexible investment choices.
Premier Variable Annuity – FP Series
Features an optional Investment Protection Rider (IPR) that safeguards the owner’s premium and potential growth for a guarantee period of their choice. This allows owners to pursue more aggressive investment strategies while knowing their original investment is protected.
Who It Works Best For: Investors who want to participate in market growth but still value a safety net that protects their principal from market downturns.
IndexFlex Variable Annuity – FP Series
Blends the benefits of fixed, indexed, and variable annuities in one product. Owners can allocate funds to fixed-rate accounts, index-linked accounts, or variable subaccounts — and can move between them annually without triggering taxes.
Who It Works Best For: Retirement planners seeking a multi-strategy approach with the flexibility to shift allocations as their needs and risk tolerance change.
New York Life’s Income Annuities
New York Life offers a range of income annuities designed for guaranteed payouts, whether you want income to start now or years in the future. Options include single premium immediate annuities (SPIAs) and deferred income annuities, with features that allow customization for joint owners, payment increases, and enhanced withdrawal benefits.
Guaranteed Lifetime Income Annuity II
A SPIA with a $10,000 minimum premium that allows owners to customize their contract with features like payment acceleration, reduced payments for joint life contracts, and up to 100% cash withdrawals.
Who It Works Best For: Retirees seeking immediate, predictable income with options to accelerate payments or cover joint lifetimes.
Guaranteed Future Income Annuity II
A deferred income annuity with a $5,000 minimum premium and flexible contribution options. Owners must defer income for at least two years and can choose to increase payments by 1%–3% annually.
Who It Works Best For: Those planning ahead who want to lock in future income now, with the option to grow their payouts over time.
Guaranteed Period Income Annuity II
An immediate annuity that guarantees payments for a set period between 5 and 30 years, with a $10,000 minimum premium. Offers payment acceleration and annual increase options.
Who It Works Best For: Buyers who want a defined payout period rather than lifetime income, often used for bridging income gaps.
Clear Income Advantage Fixed Annuity – FP Series
A fixed deferred annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB). This product guarantees lifetime income for single or joint lifetimes, with a $50,000 minimum premium and a seven-year interest rate guarantee.
Who It Works Best For: Clients who want lifetime income protection paired with a fixed rate and the ability to cover two lives under one contract.
Comparison of New York Life Annuities
| Product | Type | Premium Limit | Growth | Unique Features | Best Fit |
|---|---|---|---|---|---|
| Secure Term Choice Fixed Annuity II | Fixed | $5,000 | Fixed, tax-deferred | Return of premium guarantee, 10% annual free withdrawals | Conservative savers seeking principal protection |
| Secure Term MVA Fixed Annuity II | Fixed | $5,000 | Fixed, tax-deferred | Market value adjustment, higher interest potential | Rate-focused buyers comfortable with early-withdrawal adjustments |
| Secure Term Choice Fixed Annuity V | Fixed | $5,000 | Fixed, tax-deferred | Free living needs benefit, optional riders | Those wanting growth + health-related withdrawal benefits |
| Premier Variable Annuity – FP Series | Variable | Varies | Market-based | Investment Protection Rider (IPR) | Investors seeking growth with principal protection |
| IndexFlex Variable Annuity – FP Series | Hybrid (Fixed/Indexed/Variable) | Varies | Flexible: fixed-rate, index-linked, variable subaccounts | Allocation flexibility without triggering taxes | Planners who want multi-strategy investment flexibility |
| Guaranteed Lifetime Income Annuity II | Immediate Income (SPIA) | $10,000 | Not applicable | Payment acceleration, joint-life options, 100% cash withdrawal | Retirees seeking income now with customization |
| Guaranteed Future Income Annuity II | Deferred Income | $5,000 | Tax-deferred until income | Optional annual payment increases | Buyers locking in future guaranteed income |
| Guaranteed Period Income Annuity II | Period Certain Immediate | $10,000 | Not applicable | Defined payout period (5–30 years) | Those needing income for a set time frame |
| Clear Income Advantage Fixed Annuity – FP Series | Fixed Deferred with GLWB | $50,000 | Fixed, tax-deferred | Guaranteed lifetime withdrawal benefit | Lifetime income seekers who want fixed growth and 2-life coverage |
- If you want steady, low-risk growth with guaranteed principal protection, consider Secure Term Choice Fixed Annuity II.
- If you want competitive interest rates and are comfortable with potential early-withdrawal adjustments, consider Secure Term MVA Fixed Annuity II.
- If you want fixed growth with health-related withdrawal benefits and customizable riders, consider Secure Term Choice Fixed Annuity V.
- If you want market growth potential with principal protection, consider Premier Variable Annuity – FP Series.
- If you want flexible allocation across fixed, indexed, and variable options without triggering taxes, consider IndexFlex Variable Annuity – FP Series.
- If you want guaranteed income starting now, consider Guaranteed Lifetime Income Annuity II.
- If you want guaranteed income starting later with the ability to increase payments annually, consider Guaranteed Future Income Annuity II.
- If you want income for a set time frame rather than for life, consider Guaranteed Period Income Annuity II.
- If you want lifetime income with fixed growth and coverage for two lives, consider Clear Income Advantage Fixed Annuity – FP Series.
Today’s Best New York Life Annuity Rates
| Term | Product | AM Best Rating | Rate |
|---|---|---|---|
| 5 Years | Secure Term MVA II | A++ | 4.70 % |
| 6 Years | Secure Term MVA II | A++ | 4.70 % |
| 7 Years | Secure Term MVA II | A++ | 4.70 % |
Buy an Annuity From New York Life Today
Want to see how New York Life’s annuities compare? Our side-by-side guide makes it simple. In clear, straightforward terms, you can review contract details, guarantees, and payout options, so you can choose the annuity that fits your retirement needs with confidence.
Loading...
| Product |
Rate
|
Guarantee Period
|
Surrender Period
|
AM Best Rating
|
|---|---|---|---|---|
Clear Income Advantage - FP Series |
1.00% | 7 Years | 7 Years | A++ |
|
Secure Term Choice II |
4.40% | 6 Years | 6 Years | A++ |
|
Secure Term Choice II |
4.45% | 4 Years | 4 Years | A++ |
|
Secure Term Choice II |
4.25% | 3 Years | 3 Years | A++ |
|
Secure Term Choice II |
4.50% | 3 Years | 3 Years | A++ |
Customer Satisfaction and Complaint History
New York Life has a strong reputation for customer satisfaction. In 2023, the company scored 822 points on J.D. Power’s Customer Satisfaction Index, exceeding the average of 800 and coming in fifth place overall. In 2024, New York Life ranked third overall, with a score of 688 in comparison to 822 in 2023. 2025 ratings have yet to be released.
The J.D. Power Customer Satisfaction Index Ranking measures the overall customer satisfaction of annuity providers.
New York Life also has very few complaints reported to state insurance commissions. According to the NAIC, New York Life received just four complaints from annuity customers in 2024.
The NAIC tracks the consumer complaints that each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint Index.NAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market.
NAIC Complaint Index for New York Life
| Individual Annuities Only | 0.13 |
See which annuity providers our independent editorial team ranked as the Best Annuity Companies of 2025.
Manage Your New York Life Annuity Online
New York Life’s secure online account portal and mobile app makes it easy to view your contract details, monitor performance, and manage your annuity anytime, from anywhere. Logging in is the quickest way to stay on top of your policy, track important updates, and make the most of your retirement strategy.
Log into your provider account or connect with customer service at 1-800-326-9986.
Still Searching for the Best Annuity Provider?
