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New York Life Clear Income Advantage — 7-year fixed annuity at 1.00%
- Locks in 1.00% for 7 years
- Open with $50,000 to $2,000,000
- Free withdrawals allowed for:
- 10% of your balance each year
- Required IRA distributions
Rates as of May 8, 2026
Projected balance
over 7 years
Compounded at 1.00% guaranteed. No market exposure, no fees deducted from your balance.
| Year | Earnings | Balance |
|---|---|---|
| 1 | $500 | $50,500 |
| 2 | $505 | $51,005 |
| 3 | $510 | $51,515 |
| 4 | $515 | $52,030 |
| 5 | $520 | $52,551 |
| 6 | $526 | $53,076 |
| 7 | $531 | $53,607 |
| Total earnings | $3,607 | $53,607 |
Free-withdrawal allowance: 10% / yr. Withdrawals beyond the allowance trigger the surrender charge below.
- Rank vs. peers
- #154 of 154 (top is 6.25% — Sentinel Security Personal Choice)
If you withdraw early
Surrender charge schedule
Surrender charges apply to withdrawals beyond the free-withdrawal allowance during the contract term. The charge is a percentage of the amount withdrawn, decreasing each year. They exist because the carrier matches your premium against long-duration assets — early redemption forces them to unwind those positions.
| Contract year | Charge |
|---|---|
| Year 1 | 7.0% |
| Year 2 | 7.0% |
| Year 3 | 7.0% |
| Year 4 | 6.0% |
| Year 5 | 5.0% |
| Year 6 | 4.0% |
| Year 7 | 3.0% |
Contract terms
What else to know
Term
7 years guaranteed at 1.00% APY
Investment range
$50,000 – $2,000,000
Rate banding
Higher investment amounts qualify for higher rates.
| Premium band | Rate |
|---|---|
| $50,000 – $100,000 | 1.00% |
| $100,000 – $2,000,000 | 1.00% |
Funding sources accepted
Roth Conversion (Partial), Roth Conversion (Full), Traditional IRA, Non-Qualified, IRA Rollover, IRA Transfer, IRA-Roth
Owner age
50 to 80 years old
Death benefit
Full accumulated value passes to your beneficiary, no surrender charge.
Riders & waivers
- Unemployment Waiver
- RMD-Friendly (RMD withdrawals exempt from surrender charge)
Maturity
30-day window at the end of the term to withdraw, reinvest, or convert to guaranteed income via annuitization.
Tax treatment
Interest accumulates tax-deferred. Personal post-tax funds: only the interest is taxable on withdrawal. Withdrawals before age 59½ may be subject to a 10% IRS penalty.
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