Product Description
Back-end load universal life insurance with a 4% guaranteed interest rate

Premiums
Flexible premiums throughout the life of the contract. Based upon age nearest birthday

Base Issue Ages
18 - 65

Classes
Underwriting: Non-smoker and standard. Sex distinct and unisex in certain cases. Special classes A - G, flat extras
Guaranteed Issue: Non-smoker, standard and uni-smoker. Sex distinct and unisex in certain cases

Product availability

• Must be a plan with corporate sponsorship
• Must be an employer/employee relationship
• $200,000 minimum premium on the entire case
• 2/3 of the group must have face amounts in excess of $100,000
• Minimum base face: $250,000 (minimum total face: $150,000 in NY only)

Guaranteed Issue Requirements

• Guaranteed Issue is subject to underwriting before presentation to client
• Percent participation: Group term replacements and carve outs must have at least 90% participation. Other deferred compensation plans must have 75% participation
• Minimum of 10 participating employees
• A definite formula of coverage must be established and applied equally for all lives
• The employee must be engaged in active, full-time work currently and for the previous 90 days
• After all the increases, the lifetime maximum face is the lesser of $20,000 times the number of participating employees or $2,000,000
• Between ages 61 through 65 there is a grade down on both the initial year and the life-time maximums

15% Increases
Available after issue on both underwritten and Guaranteed Issue cases. Underwriting is not required if the following are met:

• Increases are based upon original Guaranteed Issue plan (i.e. salary)
• Increase must be mandatory for all participants
• If an increase is not taken, then underwriting is required for future increases
• Increases are not cumulative
• Work and employment requirements must be satisfied at each increase

Riders
Term Rider: This rider provides additional flexibility in plan design

New York Life Insurance Company
New York Life Insurance and Annuity
Corporation (A Delaware Corporation)
51 Madison Avenue
New York, NY10010

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