What is whole life insurance?
Whole life is permanent insurance protection that protects you for your whole life, from the day you purchase the policy until you die, as long as you pay the premiums when due.

Whole life insurance can be a solid foundation upon which to build a long-term financial strategy because it guarantees ^* lifetime protection for your family or business.

What can whole life do for you?
Whole life insurance provides basic insurance protection, plus...

• Mortgage protection: Proceeds from the death benefit can be used to help pay off mortgages and other outstanding debts in the event of a premature death.
• Estate preservation: Whole life insurance can provide funds to cover estate expenses and help avoid the need to sell assets and or borrow money to cover these expenses.
• Retirement funding: Cash values ^** can be accessed through policy loans or surrenders to supplement a retirement income.
• Charitable giving: A whole life insurance policy can enable you to make a significant donation to your favorite qualified charity upon your death.
• Business needs: Whole life insurance can be an attractive executive and employee benefit and a means to assure a business's financial future.
  
  A buy/sell agreement, used by some companies, can be funded with whole life insurance. Proceeds from a buy/sell agreement may help a company continue to operate if one of its principals dies prematurely.

Other business uses include:

• Split dollar arrangement
• Executive bonus
• Deferred compensation
• Salary continuation

^{** Loans against the cash values in your policy accrue interest and decrease the total benefit and cash value by the annuity of the outstanding loan and interest. Surrenders will reduce the total death benefit and total cash value.}

How does whole life insurance work?

• A life insurance agent will help you determine an amount of insurance needed to adequately protect your family or business in the event of your death. (You may also use New York Life's Survivor Needs Calculator to learn more on your own.)
• Generally after the first year, the policy begins to accumulate cash value. The amount of cash value in your policy usually increases every year. Cash values accrue on a tax-deferred basis. If the full death benefit is no longer needed, this money can be used to help purchase a home, fund a child's education, supplement retirement income, or for any other purpose. You may also choose to leave it in the policy and allow it to grow. The policy's cash value may be accessed through policy loans^** or withdrawals.
• A whole insurance life policy can earn dividends, which can fluctuate from year to year. Dividends are determined by the company's board of directors each year and are not guaranteed. When a dividend is payable, you may choose to take it in cash, use it to purchase more insurance or to pay or reduce your premiums.
• When you die, the company will pay your beneficiaries the death benefit, usually the face amount of the policy plus any dividend. This money is generally received by the beneficiaries free from federal income tax.

Whole life insurance means...

• Permanent protection that can never be canceled as long as you pay your premiums when due.
• A level premium that is guaranteed never to increase.
• A guaranteed death benefit ^*, generally free from federal income tax.
• Tax-deferred cash value accumulation.
• The potential to earn dividends. (Dividends are not guaranteed.)

• Did You Know...?
  Because New York Life is a mutual company, it is owned by its policyowners. When you purchase a whole life policy from us, you, in effect, own a piece of the company and are eligible to receive dividends and participate in the election of the company's board of directors.

^{* All guarantees, including death benefit payments are dependent on the claims-paying ability or the issuer}

Click here to get the full product details for whole life insurance.

Issued by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.

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