NEW YORK STATE COVID-19 INSURANCE AND ANNUITIES UPDATE.
Governor Cuomo has issued an executive order alongside recent amendments to the insurance and banking regulation (the “regulations”) issued by the New York State Department of Financial Services (“Department”). These new regulations extend grace periods and give you other rights under your life insurance policy or annuity contract if you can demonstrate financial hardship as a result of the “novel coronavirus” (“COVID-19”) pandemic. These grace periods and rights are currently in effect but are temporary.
We encourage you to get all the relevant information by reading the Executive Order.
Annuities
Retirement planning can be more complex than most people assume. It’s not just a matter of putting some money away; determining how much income you’ll need and figuring out where that money will come from takes preparation many years in advance. Relying on a single line of income like Social Security can be dangerous and put your desired lifestyle at risk.
Luckily, there are many options for supplemental retirement income, such as variable annuities*. 1879 Advisors is here to explain what annuities are and help you plan for tomorrow with our variable annuity strategies.

Our Approach to Variable Annuities
Choose Your Investments
Using the VA’s investment options, our research department develops a plan built for your individual needs. Investments are the engine that seeks to drive the growth of your portfolio, so it’s essential to have quality options and then make the appropriate choices within those options to achieve growth based upon market conditions.

Access Tax-Deferred Growth Potential
A VA differs from other investments because when your annuities earn money, the taxes on those earnings are deferred until you withdraw from the account. That means you get to keep more of your money working for you in the market with the potential to grow and compound over time.
Take Withdrawals from Your Account
You can take partial withdrawals from your account every contract year. These payments are based on your contract’s market value when you make your withdrawals. However, they also have a guaranteed minimum withdrawal, no matter what the market conditions are.
Add Protection and Growth for Lifetime Income
Choose an Add-On
Purchasing a lifetime income option with your VA creates a protected income base from which you’ll receive a steady stream of income. There may be additional costs for choosing this option.
Protect Your Income
The protected income base is a value your payments are based on and is shielded from market downturns. There may be additional costs for choosing this option.
Lock in Gains
The protected income base locks in any market gains as often as annually, which can increase income payments. There may be additional costs for choosing this option.
Receive Lifetime Income
Begin withdrawals and start receiving a steady stream of guaranteed income for life.
Want to Learn More About Variable Annuities?
It’s important to keep in mind that variable annuities are long-term investments subject to fees and expenses associated with them. As with all investments, there are risks of possible loss of principal, and we do offer add-on riders for an additional charge.
Ultimately, our goal is to protect your investments and ensure the best possible long-term financial outcome. Call us today to learn more!
*Read the Prospectus: Before investing in any variable annuity you should read the prospectus carefully and consider the investment objectives, risks, charges and expenses of the investment company. Tax deferral offers no additional value if an annuity is used to fund a qualified plan, such as a 401(k) or IRA, and may not be available if the annuity is owned by a “non-natural person” such as a corporation or certain types of trusts. Guarantees are backed by the claims-paying ability of the issuing insurance company.