NYLIAC Pinnacle UL & NYLIAC Pinnacle SUL Overview PDF   (PDF, 328KB)

Innovative Solutions for Complex Financial Situations
If you're a successful individual with a complicated financial situation, simple solutions may not work. To enhance or preserve wealth, conserve your estate, make ample provisions for your favorite charities, or develop an effective executive benefits program, you may need innovative insurance products to help you achieve these goals. That's why the New York Life Insurance and Annuity Corporation (NYLIAC) has created the NYLIAC Pinnacle Series.

The NYLIAC Pinnacle Series offers two high-quality, universal life insurance products — NYLIAC Pinnacle Universal Life (UL) and NYLIAC Pinnacle Survivorship Universal Life (SUL).

• Universal Life is an adjustable life insurance policy, covering one insured, that offers considerable flexibility in premium payments, the protection of a death benefit, and the accumulation of tax-deferred cash value.
• Survivorship Universal Life is an adjustable life insurance policy with the same flexibility and potential for cash value accumulation as UL, but covering two insureds, under one policy. Insurance proceeds are paid upon the second death.

Special Planning Tools
A key advantage of universal life products is the permanent life insurance, combined with the flexibility to meet life's changing demands. You have the option of increasing or decreasing your coverage¹ and the frequency and the amount of your premium payments². For example, if your goal is life insurance protection with cash value accumulation and flexible funding options, you can increase or decrease your scheduled premium payments or make additional, unscheduled payments. Making additional unscheduled premium payments will help assure that you'll have greater cash value,³ should the need arise. During periods of economic uncertainty, this can be a great comfort.

These policies can be useful tools in business continuation, charitable giving, estate conservation, or in planning for the orderly transfer of assets to your beneficiaries. Also, business owners may look to these insurance products as effective funding vehicles for buy-sell agreements, and deferred compensation programs.

The key benefits of NYLIAC Pinnacle UL and NYLIAC Pinnacle SUL include:

• Adaptable life insurance coverage that gives you the opportunity to select from among three life insurance death benefit options, with the flexibility to increase or decrease coverage,¹ and add or delete benefits through riders and options.
• Flexible premium payments², pay more or less than your planned premium, or none at all, provided there is sufficient cash surrender value in the policy to pay the policy's monthly deductions.
• A guarantee that your policy will not lapse for the first ten years, as long as specified premiums have been paid.⁴ This benefit will end on the tenth policy anniversary or the date on which you make any changes to the policy (including changes in coverage amounts, death benefit options and the addition/deletion of riders), whichever is earlier.
• Ready access to the cash surrender value through loans and/or partial surrenders to meet unexpected personal or business expenses.³
• Enhanced cash surrender values may be available to a corporation, an irrevocable trust, or other defined policyowner class through the Alternative Cash Surrender Value (ACSV) Benefit.⁵ The ACSV Benefit increases the amount of cash surrender value available to the policyowner upon full surrender during the first ten policy years.
• Tax-deferred cash value accumulation with a guaranteed minimum interest-crediting rate.

Tax-Deferred Accumulation
The cash value accumulation of the policy grows tax-deferred. With a substantial initial premium payment, your cash value can accumulate much faster than it would in a similar taxable product. Whether you're a highly successful business owner, senior corporate executive, affluent professional, or have inherited a substantial amount of money — along with the responsibility of stewardship — favorable tax treatment can make a big difference.⁶

We Assume the Risk
With NYLIAC Pinnacle UL and NYLIAC Pinnacle SUL, you don't have to personally manage the underlying investment assets. Monies applied to the policy earn interest at a rate guaranteed to be at least 3% annually.

NYLIAC is a wholly owned subsidiary of New York Life Insurance Company. For clients who choose to purchase products offered by NYLIAC, premiums may be invested in the NYLIAC General Account. NYLIAC's conservative approach to investing is evident in our asset mix and quality distribution. Overall credit quality of the Universal Life Portfolio is A+. As of March 30, 2005, our assets were comprised of 69.4% in public investment grade bonds, including government, corporate, asset-backed, and mortgage-based bonds; 19.5% in private bonds, plus 11.2% in mortgage loans and -0.1% in short-term bonds.

Purchasing these products can be a wise decision during difficult economic times. In short, you can trust that NYLIAC will invest wisely so that you get a competitive rate of return.

You Can Depend on Our Judgment
Over the years the independent rating agencies have consistently affirmed our financial strength.

A.M. Best:	A++
Standard & Poor's:	AA+
Moody's:	Aaa
Fitch:	AAA

Source: Third Party Rating Reports (as of 2/16/2005)

In its report, Standard & Poor's states that "one of New York Life's strengths is the breadth of its product line". The report further states that New York Life is considered to be "one of the most respected names in the domestic life insurance business, characterized by a commitment to mutuality and its policyholders". Source: 2004 S&P Rating Report

Moody's Investors Service states that our recent positive rating outlook "is based upon the Company's good capital position, consistent financial results, exceptionally diversified investment portfolio, modest financial leverage, and substantial financial flexibility". Source: 2004 Rating

According to A.M. Best, "New York Life maintains a solid capital position relative to its overall insurance and investment risks". Source: 2003 A.M. Best Rating Report

A Policy to Fit Your Needs
Your NYLIAC Pinnacle policy can fit your needs like a custom-made suit. Ask your New York Life representative how a NYLIAC Pinnacle UL or NYLIAC Pinnacle SUL policy can be designed to your specifications by combining policy features or adding riders.

Riders, which are optional and available at an additional cost, can:

• Guarantee Your Insurability — The Scheduled Supplementary Term Insurance Rider (SSTR) provides a term insurance benefit that can be scheduled to increase or decrease periodically. Scheduled increases in coverage will be underwritten at the time of application, and will not be subject to new evidence of insurability in the future.
• Continue Coverage Beyond Age 100 — There are two Life Extension Benefit Riders (LEB I and LEB II) available that can extend the life insurance benefit beyond the policy anniversary on which the insured (younger insured for SUL) is age 100. The LEB I rider may only be elected at the time the policy is issued, however, charges are not deducted until the insured (younger insured for SUL) is age 90. The LEB II rider may be elected at issue or added to an existing policy. Charges for the LEB II rider begin when the policy is issued or when the rider is added. You should discuss with your representative, which LEB rider would meet your needs.
• Provide Additional Death Benefit Protection — The Level First-to-Die Term Rider (LFTD) provides SUL policyowners with a level term insurance death benefit payable upon the first death.

Customer Satisfaction is Our Driving Force
The representatives offering these products are professionals experienced in providing innovative insurance solutions for estate planning, wealth transfer, and executive benefits planning. They can explain how each of these products can effectively supplement your existing portfolio to meet a wide variety of individual and family needs.

The following is a sampling of situations in which NYLIAC Pinnacle UL or NYLIAC Pinnacle SUL can prove useful:

• Ensuring estate tax liquidity
• Equalizing your estate so that all heirs are treated fairly
• Aiding in business continuation
• Facilitating irrevocable life insurance trusts
• Providing business protection
• Providing executive benefit planning
• Providing financial support for a surviving spouse, children and/or dependents with special needs

Your representative can answer any questions you may have about NYLIAC Pinnacle UL and NYLIAC Pinnacle SUL, including the available riders that make it possible to customize a policy based on your most important requirements.

A Pillar of Financial Strength
Both NYLIAC and its parent company, New York Life Insurance Company, have earned among the highest ratings for financial strength from the independent ratings agencies. These ratings reflect a conservative investment philosophy and prudent management principles.

For 160 years, we have conducted our business around the central values of financial strength, integrity, and humanity — and have remained committed to being a mutual company, owned solely by our policyholders. This means that, regardless of the economy, our focus is fixed on just one objective: meeting the needs of our customers, now and far into the future.

Let us put our integrity, experience, and know-how to work for you. Talks to your New York Life representative today and find out why we are The Company You Keep®.

New York Life Insurance Company
New York Life Insurance and Annuity Corporation
(A Delaware Corporation)
51 Madison Avenue
New York, NY 10010

¹ Increasing coverage may require additional underwriting.

² Premiums are subject to certain minimum and maximum amounts. The policy's cash surrender value must be sufficient to pay the policy's monthly charges.

³ Loans and partial surrenders will reduce the death benefit and may carry a tax penalty if the policy is a modified endowment contract and the policyowner is not yet 59 1/2.

⁴ The required No Lapse Benefit (NLB) premium can be found on the policy data page. Please note that if you fund your policy at the NLB premium level, you may not build significant cash value in your policy. At the end of the guarantee period, it may be necessary to maintain the contract with premium amounts significantly higher than the premium required to maintain the NLB.

⁵ Alternative Cash Surrender Value I or Alternative Cash Surrender Value II ("ACSV I" or "ACSV II" or collectively "ACSV"). ACSV I may be made available to a policy owned by a Corporation or an Irrevocable Trust. ACSV II may be made available to a policy that may be funded by a Corporation or a Trust, a policy owned by an approved charitable organization, a policy that may be financed through an approved financial institution, or other defined policyowner classes, if we agree. ACSV can be elected only at issue. The interest-crediting rate on policies with ACSV will be lower than on policies without ACSV.
The ACSV benefit is equal to the sum of the sales expense charges and the monthly per-thousand-of-face-amount charges. As these charges are deducted, they are put into an ACSV account. That account provides the additional cash surrender value available to the policyholder only upon full surrender. The account increases as charges are deducted from the policy. However, the percentage of the account that is added to the policyowner's cash surrender value declines at a level rate from the 13th policy month (the beginning of the second policy year) through the 120th policy month (the end of the 10th policy year). At the end of the 10th policy year, the ACSV benefit is zero.

⁶ Please consult your tax and legal advisor about any tax implications.

The policies and features discussed in this brochure may not be available in all jurisdictions and/or certain provisions may vary.
In most jurisdictions, NYLIAC Pinnacle UL''s policy form number is 301-35 and NYLIAC Pinnacle SUL's policy form number is 301-65.

SMRU 00257968(05/05)

 Rate This
Rating: 0/0 (0 votes cast)

 Be the first to Comment