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Target market: Pre-Retirement, Retirement
Our Lifetime Income Annuity is an immediate income annuity that provides a 100% guarantee that your retirement income will last as long as you live, no matter how long that is and no matter how the financial markets perform.
Hopefully, you've had the opportunity to save money toward retirement income and grow a comfortable nest egg to help ensure yourself a rich and rewarding life in retirement.
But, like many, you may be hesitant to spend down your nest egg, because you do not know for how long you'll need that money to last. Without guarantees, you are probably concerned that your income sources may not last as long as you do.
Our Lifetime financial planning Income Annuity provides that assurance. By promising to pay you a stream of income for as long as you live—no matter how long that is—these fixed annuities help ensure that the fruits of your financial efforts will continue to sustain you throughout your retirement.
If you are a 65 year-old male and are planning on spending down your nest egg, you could withdraw approximately 4% a year if you wanted your portfolio to last around 26 years, and there's only about a 90% confidence rate that your nest egg will last that long.1 While payout rates vary based on age, gender, interest rates, and other factors, our Lifetime Income Annuity typically offer a 7% payout rate based on payments that include an annual 3% inflation adjustment—a payout rate that is 25%-50% higher than the 4% you would receive spending down your nest egg.2 And because our payments come with a 100% guarantee to last for the rest of your life, it makes good financial sense to include New York Life insurance as Lifetime Income Annuity in your retirement income portfolio. Our Lifetime Income Annuity offers innovative features such as inflation protection, emergency access to your money, and legacy options.3 we also have customizable solutions designed for retirees, as well as for people still in their working years.
