Life insurance is an effective way to help protect your family's lifestyle and future. Plus the cash value in a whole life insurance policy can be accessed via policy loans and withdrawals can be used to help you supplement your retirement income. This cash value can also be accessed and used for other major life events and can play an important part in estate, business succession, or charitable giving plans.
Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.
**Issued by New York Life Insurance and Annuity Corporation.
Term life policies provide coverage for a specific amount of time—such as five years, 10 years, or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
Universal Life insurance is designed to offer customizable death benefit protection with non-guaranteed planned premiums and a non-guaranteed death benefit. Depending on the product selected and the amount of premium you pay, Universal Life insurance can allow you to keep your coverage for as long as you need it: to age 80, 90, 100 or longer. Because of the policy’s flexible and non-guaranteed nature, it is important to fund your policy properly and actively manage your policy to reflect changes in interest crediting rates and policy charges over the duration of your policy. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rates or charges fluctuate.
Survivorship life insurance – available as whole life and universal life – covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.
The policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments. If loans or withdrawals are made, or if current interest rates or changes fluctuate.
An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump sum into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax deferral and can be used to accumulate money for retirement. Income annuities are often immediate annuities used to generate a stream of income payments that are guaranteed to last for as long as you need them to—even for the rest of your life.* Some of the different types of annuities are:
With a Fixed Interest Deferred Annuity, the interest rate on your policy is guaranteed never to fall below a certain amount (subject to the claims paying ability of the issuing company). For many people, this provides a measure of security about their investment.
An income annuity where income payments begin immediately - one period after the annuity is purchased. It is designed to provide you with predictable income monthly, quarterly, semi-annually or annually, no matter how long you live, and regardless of how the financial markets perform.
A variable deferred annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy's accumulated value—and sometimes the amount of monthly annuity benefit payments—fluctuates with the performance of your variable investment account options. There are fees, expenses, and risks associated with the contract. Please be aware that assets allocated to the investment divisions are subject to market risks and will fluctuate in value.
Offered through NYLIFE Securities LLC (member FINRA/SIPC), a Licensed Insurance Agency, and a New York Life Company.
Going through life may require a little help along the way. So if you're planning ahead, long-term care insurance may help protect you or a family member's future plans and help preserve the assets you've worked so hard to build.
Preparing for retirement is easier with the help of our guaranteed# lifetime income annuity products. You can select an immediate annuity1 that pays income right away, or a tax-deferred fixed annuity1 that allows you to set aside money until you need it. Either way, you will be assured a steady, dependable source of income for life.
We offer comprehensive products and services to help you develop a sound, long-term investment strategy. You can choose from over 10,000 mutual funds, including self-directed, tax-deferred Individual Retirement Accounts (IRAs). We also offer products to fund plans for companies of all sizes, ranging from SIMPLE IRAs to full-service defined contribution and defined benefit plans.
We have established relationships with other carriers, and can supply you with information on disability income insurance as well as individual and group health insurance products.2 If we don't offer it, chances are we can assist you.
~Offered by properly licensed registered representatives of NYLIFE Securities LLC (member FINRA/SIPC).
#Guarantees are backed by the claims paying ability of the issuer.
**New York Life fixed annuities are Issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation)
**Products available through one or more carriers not affiliated with New York Life; dependent on carrier authorization and product availability in your state or locality.