National City Insurance Group, Inc. and New York Life Insurance and Annuity Corporation have teamed up to offer a new single premium deferred annuity product. The NYLIAC MainStay Fixed Annuity will be distributed through the more than 1,100 branch locations of National City Corporation in Ohio, Pennsylvania, Indiana, Kentucky, Illinois and Michigan.

The new product has multiple withdrawal options and one-, three- or six-year rate guarantee periods, higher rates for larger payments, a premium guarantee, access to up to 10 percent of the account value without a surrender charge and a death benefit.  

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