New York Life Careers: Understanding Annuity Contracts

Are you considering a career with New York Life? As a financial professional, you will have the opportunity to sell annuity contracts to clients. But before diving into this line of work, it's essential to understand what annuities are and how they can impact your clients' financial futures.

Subject to Investment Risks

Annuity contracts are subject to investment risks, including possible loss of the principal amount invested. It's crucial for financial professionals to educate their clients about these risks and ensure that they fully comprehend the terms of the contract before making a purchase.

Not Insured by Any Federal Government Agency

Not only do annuity contracts come with investment risks, but they are also not insured by any federal government agency. This means that investors may face potential losses if the issuing insurance company becomes insolvent.

Payment Obligations and Guarantees

Annuity contracts issued by Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY, in New York state, are subject to the financial strength and claims-paying ability of the issuing insurance company. Insurance products may not be available in all states.

Financial Strength and Claims-Paying Ability

The financial strength and claims-paying ability of the issuing insurance company play a critical role in determining an annuity contract's value. It's essential for financial professionals to understand the importance of these factors when advising clients on annuity purchases.

Group Annuity Contracts

In addition to individual annuity contracts, group annuity contracts are also available. These contracts are issued by Athene Annuity & Life Assurance Company (61689), West Des Moines, IA, and Athene Annuity & Life Assurance Company (61492), Wilmington, Delaware, in all states (except New York) and in D.C.

Features, Exclusions, Limitations, and Availability

Annuities contain features, exclusions, limitations, and availability that may vary by state and/or sales distributor. It's crucial for financial professionals to understand these variations when advising clients on annuity purchases.

In conclusion, as a financial professional with New York Life, it's essential to have a comprehensive understanding of annuity contracts and their features. By educating yourself on the ins and outs of annuities, you can better serve your clients and help them make informed decisions about their financial futures.

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