Fidelity Investments® Adds New York Life Fixed Annuity to Product Lineup

By a News Reporter-Staff News Editor at Investment Weekly News -- Fidelity Investments® announced that the New York Life Clear Income Fixed Annuity - FP Series will be made available as part of Fidelity's product portfolio. The new product is a fixed deferred annuity with a guaranteed lifetime withdrawal benefit that provides customers with guaranteed1 income throughout retirement along with greater flexibility in the form of withdrawal options.

"The New York Life Fixed Annuity is a strong addition to Fidelity's lineup of lifetime income offerings, combining the advantages of a deferred income annuity with greater liquidity, by giving investors the ability to access their funds if their financial situation changes," said Bill Johnson, president of Fidelity Investments Life Insurance. "This product can be an important component of a diversified portfolio and can help people create retirement income designed to last their lifetime."

The New York Life Clear Income Fixed Annuity- FP Series offers the following advantages: Lifetime Income: Through access to a guaranteed lifetime withdrawal benefit amount beginning on a date they select, investors can avoid outliving their assets. Individuals (or couples for joint contracts) also benefit from knowing how much annual income they will receive, based on any date they select2. Flexibility: If a person's situation changes and the need may arise to take some or all of the money sooner, individuals have access to the contract's accumulation value3. Stability: Individuals have the security of a guaranteed rate of return and cash flow regardless of market fluctuations and downturns.

With the introduction of the New York Life Clear Income Fixed Annuity- FP Series, New York Life and Fidelity continue to build upon a successful partnership. Fidelity already makes available several New York Life annuity products, including single premium deferred annuities, deferred income annuities and single premium immediate annuities.

To learn more about annuities and how they can fit into your overall financial plan, visit www.fidelity.com/annuities/overview or speak with a Fidelity annuity specialist at 800-345-1388. About Fidelity InvestmentsFidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.4 trillion, including managed assets of $2.1 trillion as of June 30, 2016, we focus on meeting the unique needs of a diverse set of customers: helping more than 25 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with investment and technology solutions to invest their own clients' money. Privately held for nearly 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit www.fidelity.com/about.

Product availability and features may vary by state

Issuing Company: New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Available in jurisdictions where approved. State variations may apply and benefits may vary. In most jurisdictions, the policy form number for the New York Life Clear Income Fixed Annuity - FP Series is ICC14-P130; in some states it may be 214-P130, and state variations may apply. In most jurisdictions, the rider form number for the Guaranteed Lifetime Withdrawal Benefit Rider is ICC14-R102; in some states it may be 214-R102, and state variations may apply. The rider form number for the Living Needs Benefit/Unemployment Rider is ICC09-R100; in some states it may be 209-100, and state variations may apply.

Fidelity Insurance Agency, Inc., distributes this product, which is not affiliated with any New York Life company.

Investing involves risk including the risk of loss.Fidelity Investments and Fidelity are registered service marks of FMR LLC. Fidelity Brokerage Services LLC, Member NYSE, SIPC900 Salem Street, Smithfield, RI 02917. 768614.1.0© 2016 FMR LLC. All rights reserved. 1 Guarantees apply to certain insurance and annuity products and are subject to product terms, exclusions and limitations and the insurer's claims paying ability and financial strength.2 The lifetime withdrawal benefit amount is available after the youngest annuitant turns age 591/2.3 Any withdrawal prior to age 591/2 will reduce the guaranteed lifetime withdrawal benefit (GLWB) amount. After age 591/2, an early access withdrawal or any withdrawal (including applicable market value adjustment and surrender charges) that exceeds your GLWB amount will reduce income guarantees. Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 591/2, may be subject to a 10% IRS penalty. View source version on businesswire.com: http://www.businesswire.com/news/home/20160728005848/en/

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