How to Apply for a New York Life Annuity
As agents for New York Life, we offer you the easiest way to buy your annuity directly. There is no extra charge to you. We are paid a commission by the insurance company.
Applying for your annuity only takes 10 minutes over the phone. New York Life does not offer a digital online application.
To begin your application click here to request a callback or please call 800-872-6684 (M-F, 9-5 EST).
Here's some initial information about your quote and the application process:
About Your New York Life Insurance Quote
- Your quote is guaranteed for 14 days.
- All fees and commissions have already been deducted.
- To lock in the quote requires the completion of a written application.
- Your application must be received by the insurance company before your quote expires.
- You can extend the guarantee period of your quote for up to 60 days if you are transferring savings from an IRA or 401k to the annuity. This is called a rate lock.
About The New York Life Insurance Application
The first step to locking in your quote is to submit an application. If you’re ready to apply, call us at 800-872-6684 and here’s how we’ll assist you:
- We’ll go through a 10-minute phone questionnaire with you that helps us pre-fill a printed application. (The insurance company does not yet have a digital application.)
- The next day you’ll receive your typed application by FedEx to review and sign. If you have questions as you go through the application, call us at 800-872-6684 for assistance.
- With your typed application, we’ll also include a prepaid FedEx envelope to return your forms to the insurance company for maximum safety and speed.
- It takes the insurance company about 2 weeks to issue your written policy which you’ll receive by overnight mail. You’ll get daily updates from us as your application goes through the underwriting process.
If you have any questions about your quotes, the application process, or annuities in general, please call our customer service team at 800-872-6684. We’d be happy to speak with you.
Frequently Asked Annuity Questions
The money you pay for an annuity is called the premium. The premium can be paid in several ways:
By Check: You can send a personal check payable to New York Life. Your check would include your name in the memo section ("For Benefit Of ______") to ensure it is credited to your account. You do not need to send a cashiers' check or a certified check.
By Company-Directed Transfer from a 401k, IRA, bank CD, or existing annuity: If your premium is currently with another company, we'll include Transfer paperwork with your application so New York Life can request the premium be sent to it directly.
No, the premium amount on your quote is the total cost to receive the stated income. There are no other fees or deductions. We are paid a commission by New York Life to represent them. This commission has already been figured into the quotes you received.
We represent over 25 top-rated insurance companies to bring you the best annuity rates, and our service is free to you!
After New York Life receives your application and funding, it starts to underwrite your policy. New York Life usually takes about two weeks to review your application and set up your account. Our friendly customer service team will call you or email you with regular updates at each stage of the policy issue process.
Once the underwriting is completed, an annuity policy (also called an annuity contract) is sent to our offices to review for accuracy. If everything is correct, we’ll overnight it to you for your acceptance.
After you review the contract, if you’re satisfied with what you see, sign the delivery receipt and return it in the enclosed postage-paid envelope. Your annuity is then active and you will begin receiving your guaranteed income!
Yes. By state law, you have a “free look” period during which you are allowed to change your mind and cancel your annuity contract for a 100% no-questions-asked refund. The length of this “free look” period is at least 10 days and in some states it's up to 30 days.
On your application you can elect to receive automatic EFT deposits. Your income payments will be deposited into your bank account via electronic funds transfer. Otherwise, a check will be mailed to your street address.
New York Life Offers These Annuities:
Single Premium Immediate Annuities New York Life Guaranteed Lifetime Income Annuity II
Deferred Income Annuities New York Life Guaranteed Future Income Annuity II
Deferred Annuities New York Life Secure Term MVA Fixed Annuity II - 3 Year New York Life Secure Term MVA Fixed Annuity II - 5 Year New York Life Secure Term MVA Fixed Annuity II - 6 Year New York Life Secure Term MVA Fixed Annuity II - 7 Year