New York Life Investments is expanding its lineup of stand-alone, stable-value offerings by adding products and increasing distribution to include third-party channels.
The unit of New York Life Insurance Co. announced Monday that it would make its two stable-value products—the Guaranteed Interest Account, which was introduced in July and has accumulated $400 million of assets, and the New York Life Insurance Company Anchor Account, which was started in 1995—available to third-party advisers and financial planners.
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