[January 19, 2021]

New York Life Helps Retirees Embrace the New Normal in Retirement With the Launch of IndexFlex VA

New York Life announced today that it has expanded its comprehensive suite of retirement solutions. The company's latest variable annuity, the New York Life IndexFlex Variable Annuity (IndexFlex), issued by a subsidiary, New York Life Insurance and Annuity Corporation, offers variable investment, principal protected index-linked and fixed account options, combining the security of principal protection with flexibility and growth potential.

"As a leader in guaranteed income and principal protection solutions, we know that investors want their money to work for them through market disruption and volatility - as well as through growth and recovery - with solutions that are streamlined and transparent to create a retirement that feels secure," said Dylan Huang, SVP, Head of Retail Annuities, Investment Solutions and Wealth Planning, New York Life. "As a company, we have a long history of rising to the occasion when few things seem certain and this perspective has continued to guide the development and expansion of our suite of principal protected products."

New York Lifeⁱⁱⁱ is committed to helping people retire more securely. The launch of IndexFlex offers investors a new way to grow and protect assets in retirement:

• A streamlined design offers access to more than a dozen variable investment options from well-known money managers covering a range of investment strategies.
• Recognizable index-linked options that provide interest crediting transparency throughout the entire initial investment term.
• The ability to pivot strategies if needs or markets change, with seamless transitions between a traditional variable annuity growth strategy or an index-linked growth with protection strategy - a combination of features that is only available at New York Life.*

"We know from past researchⁱ that three out of four investors prefer a protection-focused portfolio over one that outperforms benchmarks," continued Huang. "IndexFlex joins New York Life's expansive suite of retirement products at a time when investors are seeking to balance the peace of mind that can come with principal protection guarantees with the opportunity to capture market growth potential. IndexFlex offers both and we expect it will be well received by consumers and advisors alike."

IndexFlex is now avalable through New York Life agentsⁱⁱ and a large network of national banks and broker-dealers.

For more information about IndexFlex and all of New York Life's retirement solutions, visit https://www.nylinvestments.com/annuities/products/New-York-Life-IndexFlex-Variable-Annuity.

*Certain transfer restrictions apply.

About New York Life

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life has among the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 5/18/2020. For methodology, please see http://fortune.com/fortune500/. Please note that IndexFlex, issuer, NYLIAC is not a mutual life insurance company

**Individual independent rating agency commentary as of 10/15/2020: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).

Variable annuities are long-term financial products used for retirement savings. There are fees, expenses, limitations and risks associated with this policy. All guarantees, relating to the variable account value, including death benefit payments, are dependent on the claims-paying ability of NYLIAC and do not apply to the investment performance or safety of the underlying Investment Divisions, as they are subject to market risks and will fluctuate in value. Withdrawals may be subject to ordinary income taxes and if made prior to age 59½ may be subject to a 10% IRS penalty tax. For costs and complete details, contact a financial professional.

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This is not a complete description of IndexFlex. Please consider the charges, risks, expenses, and investment objectives carefully before purchasing a variable annuity. The product and fund prospectuses contain this and other information and can be obtained from a financial professional. Read the prospectuses carefully before you invest or send money.

Products and features are available where approved. In most jurisdictions, the policy form numbers are as follows (state variations may apply): New York Life IndexFlex Variable Annuity (ICC20V-P01 or it may be NC20V-P01). Please refer to the product prospectus for more information.

The New York Life IndexFlex Variable Annuitiy is issued by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware Corporation, and is offered through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency. Both companies are wholly-owned subsidiaries of New York Life Insurance Company (NY,NY).

ⁱ Cerulli Associates, ThinkAdvisor, 2018

ⁱⁱ NYLIFE Securities registered representatives

ⁱⁱⁱ [and] New York Life Insurance and Annuity Corporation, issuer of IndexFlex

View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005604/en/

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