Contrary to a lot of fee only advisors I think variable annuities can have a place in a person’s financial plan, regardless of whether or not you work with a financial planner, when they meet the specific needs of the individual. In working with any potential client, I always start with an objective financial plan, not a product or sale. Digging into each of these areas is the best way, in my opinion, that you can learn about this annuity versus possibly only hearing some of the facts in a sales situation.įor readers who are coming to my website for the first time, thank you! I am a Certified Financial Planner ®professional and Founder of my firm, Intrepid Wealth Partners*. The objective of reviewing the New York Life Premier Variable Annuity II is to offer a transparent and plain English review. I will cover the following for the New York Life Premier Variable Annuity II. It is giving you the facts to help you figure out if it is right for you when meeting with your financial professional. The problem is that variable annuities can be very confusing, and it is hard to find the public materials available for review, thus making the process of buying a variable annuity rather overwhelming. People who are considering purchasing an annuity want and should have all the facts before making a purchase. Unfortunately, due to this complexity it is difficult for consumers to figure out how they work and if they would be the right solution for your needs! There are so many variables now that it can truly make your head swim trying to make sense of them all. Given the increased interest for annuities the companies that manufacture and sell them have spent considerable resources to create new types of annuities that offer more investment options, income benefits, guarantees, etc. Given the additional guarantees and income options annuities can provide there has been increased interest in their use for accumulation and retirement income options given the above two points.They are concerned about their retirement income and are looking for ways to generate it. The largest generation in history, the baby boomers, are retiring at a rapid rate.The stock markets are at record highs with volatility along the way, remember 2008? This has given investors more reasons to question the soundness of investing in stocks, mutual funds, etc. Although annuities have been around in some shape or form for hundreds of years there has been a sharp increase in their use in the last decade. Optional benefits can include a guaranteed minimum account balance payable at a future date if your account value is below the guarantee as well as a guaranteed minimum death benefit. Annuities may also offer optional benefits for additional fees. You may choose to annuitize your account value, you may make partial withdrawals or a full withdrawal. The annuity’s account value is not guaranteed and will be based upon the investment performance of the investment options that the client invest in as well as any fees and expenses that the annuity is subject to. In a nut shell, variable annuities represent a contractual agreement in which payments are made to an insurance company, amounts are then investment in variable investment options. I am licensed to offer securities in the states listed in the footer of this page.įrequently I get questions from clients and people visiting my website about annuities. As a Registered Representative of NYLIFE Securities I can only offer variable annuities offered by New York Life or its subsidiaries. However, if this article affects in a sale of this variable annuity, it will be in my capacity as a Registered Representative of NYLIFE Securities LLC, a licensed insurance agency and a wholly owned subsidiary of New York Life Insurance Company. This post is not a solicitation for you to buy this product.Before reading this article I encourage you to download the complete product prospectus and fund prospectuses so you have all the facts at your fingertips.Will I be making a recommendation to buy or not buy this annuity in this article? No.Can I sell this particular annuity? Yes.But, if you are thinking about purchasing this annuity then you are in the right place!ĭisclaimer: Although I am a Certified Financial Planner ® and can charge a planning fee, I also am licensed to sell insurance based products which pay commissions. If you are not currently considering this annuity as a vehicle to implement part of your financial plan, then you have no need to read this. Notice: This is a long article about a specific annuity, the New York Life Premier Variable Annuity II. A Transparent Review of the New York Life Premier Variable Annuity II
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