AARP Lifetime Income Plan
With 10 Year Guarantee

This fixed immediate annuity from New York Life Insurance and Annuity Corporation lets you convert a portion of your savings into a guaranteed monthly income stream you can’t outlive. Our group annuity is available exclusively to AARP members ages 50 to 85:

  • Provides fixed monthly income payments that
    begin immediately and continue for life
  • “10 Year Guarantee” provides at least 10 years of
    income payments to you or your beneficiary
  • Single Life Plan available
AARP Lifetime Income Plan With 10 Year Guarantee
AARP Lifetime Income Plan With 10 Year Guarantee
See Income Example and Request a Free Information Kit with Personalized Quote by Mail
 
  • Common Questions
    About This Annuity

    Question

    How can I benefit from this annuity?

    Answer

    You might think of this annuity as a way to help protect against the risk of outliving your savings. It provides a monthly income payment that is guaranteed for life, no matter how long you live.

    More Questions and Answers

  • Strength of New York
    Life Insurance and
    Annuity Corporation,
    Program Endorsed
    by AARP

    The AARP Lifetime Income Program is endorsed by AARP, a non-profit membership organization that helps people 50 and over improve the quality of their lives.

    What Makes Us Different

  • The Member’s Guide to the AARP Lifetime Income Program

    How it Works
  • Talk to an
    Annuity Specialist

    Call New York Life at 1-800-590-1455
    8 a.m. to 6 p.m. (Eastern Time) Monday through Friday, or 9 a.m. to 5 p.m. Saturday

Features and Benefits

  • Fixed immediate annuity for AARP members ages 50 to 85
  • Receive guaranteed monthly income payments for life
  • “10 Year Guarantee” feature: if you die before 10 years have passed, your beneficiary will receive the remaining monthly payments during the 10-year guarantee period
  • Purchase with $10,000 or more, using funds from savings and CD's or a 401(k) or IRA
  • Payments begin immediately and never change, regardless of market conditions
  • Single Life Plan available


How Does This Annuity Work?
This fixed immediate annuity lets you convert a portion of your savings into a stream of guaranteed lifetime income payments. You purchase this annuity with a single lump sum of money called a “premium”. You’ll receive your first payment one month after your Annuity Certificate is issued.

Fixed Monthly Payments, Guaranteed for Life
No matter how long you live, your monthly payment is guaranteed. In addition, the amount of your annuity income payments never varies due to market conditions. It’s locked in for life.

Who Is Eligible
AARP members ages 50 to 85 and spouses ages 45 to 85 qualify for this group annuity. If you aren't yet an AARP member, click here to join now.

Features and Benefits

Guaranteed Monthly Income Example

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One-Time Annuity Purchase Price

Rates for Men

Purchase
Issue Age
$50,000 $100,000 $250,000
Age 65 $256/month $523/month $1,316/month
Age 75 $340/month $690/month $1,736/month
Age 85 $418/month $847/month $2,128/month

Rates for Women

Purchase
Issue Age
$50,000 $100,000 $250,000
Age 65 $239/month $489/month $1,231/month
Age 75 $313/month $637/month $1,602/month
Age 85 $402/month $815/month $2,048/month

*The annuity income shown above is before any applicable federal and state taxes and includes both interest and principal. Effective on 9/15/2014 and may vary by state.

» Get a personalized Lifetime Income quote by mail
You must be an AARP member to request a personalized Lifetime Income quote by mail. Your
quote is part of a complete free information kit for the AARP Lifetime Income Plan with
10 Year Guarantee.

Built-in "10 Year Guaranteed Period"
This annuity includes a guarantee that if you die before 10 years have passed, your beneficiary will receive the remaining monthly payments during the 10-year guaranteed period, ensuring income payments continue to a loved one even if you pass away. The total payments received may be more or less than what you paid into the annuity, depending on how long you live.

Payment Acceleration Feature
Depending on the type of assets you use to fund your annuity, you may be able to access some portion of your future payments. A payment acceleration feature allows you to receive six monthly payments in one lump sum. This feature can only be used twice, and regular monthly payments will resume six months after each use. Proceeds will be taxable at the time of receipt. You may wish to consult with your tax advisor.

How to Fund Your Annuity
You can use many types of assets to purchase your annuity, including a checking or savings account, or maturing CD. You can also purchase your annuity using assets from retirement plans, including an IRA, 401(k), or lump-sum pension plan payout, without losing your tax-deferred status. Rather than incur taxes on the entire withdrawal amount, you’ll pay taxes over time on each monthly income payment.

How Much Money to Use to Purchase
You can purchase this fixed immediate annuity with any amount of $10,000 or more. The money you use to purchase this annuity will be permanently locked into the contract and access will be limited to the monthly income payments you receive for life. You should use no more than 50% of your assets, excluding your home, to purchase an annuity and keep at least $20,000 of savings on hand for emergencies. To help you decide if this annuity is suitable for you, click the link below to see important guidelines.

» Things to Consider When You’re Ready to Make a Purchase

Simple Enrollment
AARP members can easily enroll to purchase this fixed immediate annuity from New York Life by mail, quickly and privately. There’s absolutely no cost or obligation when you request a free Information Kit and an Enrollment Form.

» Request a Free Information Kit and Enrollment Form

Annuity Ratings
*Highest ratings currently awarded to any life insurer as of 9/01/2014.

 

Not an AARP Member Yet?

The AARP Lifetime Income Program is exclusively for AARP members. If you aren't yet an AARP member,
click here to join now.

» Get a Free Information Kit

New York Life Insurance and Annuity Corporation pays royalty fees to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. AARP and its affiliates are not insurers. AARP has established the AARP Annuity Trust to hold group annuity contracts for the benefit of AARP members.
The AARP Lifetime Income Program is underwritten by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware Corporation (NAIC #91596), Newark, DE 19713. AARP membership is required for Program eligibility. Guarantees are based on the claims-paying ability of NYLIAC. Specific products, features, and/or gifts not available in all states or countries. NYLIAC is licensed in all 50 states. (Group policy form IA-01, IA-02, and IA-04). New York Life Insurance and Annuity Corporation is a wholly owned subsidiary of New York Life Insurance Company.

Complete terms and conditions are set forth in the group policy issued by New York Life Insurance and Annuity Corporation to the Trustee of the AARP Annuity Trust.

The licensed agent is Michael Horan (Arkansas #280279, California #0B58435).

Residents of Florida: Michael Horan is a licensed Florida agent for service to Florida residents.

Residents of Kentucky: A free Buyer’s Guide is available upon request.

A101-9220914-10YEAR

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