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Life insurance for young professionals.

Not wasted on the young.

As summer approaches, 2015 is looking a little brighter for job hunters. According to recent data from the Bureau of Labor Statistics, the U.S. unemployment rate for May declined to 5.5%.1

For Millennials, there’s some light at the end of the tunnel.

For Millennials, also known as Gen Y, who represent 40% of the unemployed pool, there are some signs of improvement.2 The “Millennial Jobs Report,” issued by nonprofit group Generation Opportunity, stated in May that 13.8% of 18- to 29-year-olds remain out of work, a decrease from January’s 14.2% and the year-ago period’s 15.4%.2

So, with a lot of determination and a little bit of luck, there’s a better chance today that you’ll be landing that coveted job in no time. If you’re already employed, congratulations—you’re well on your way to establishing financial independence.

But having a job is only the first step toward achieving financial stability. While it may be surprising, there’s no better time than now—when you’re young and single—to begin thinking about building and protecting your financial future. A good place to start is with life insurance.

Enjoy your now by protecting your later.

The primary purpose of life insurance is to provide a death benefit that can replace lost income in the event of a death. However, cash value policies also include an attractive accumulation element. These dollars can be used in the future for whatever purpose the policyowner desires—to help pay educational tuition bills, to add to a down payment on a home, or to supplement retirement income if the insurance needs decrease, and other costs.

How much life insurance do I need?

Life insurance purchased today can also protect your future insurability. Though single today, you may eventually have a family. Cash value life insurance, also known as whole life insurance, once issued, is in force for life, assuming all required premiums are paid when due. This is the case in spite of any changes in your health that may develop in the future. And, the younger and healthier you are when you purchase whole life insurance, the less expensive it will be.

Take advantage of what life insurance could offer during your lifetime.

  • Tax-deferred cash value accumulation. You’ll enjoy tax-free access to the policy’s cash value through a combination of loans and withdrawals.
  • Access to “living benefits.” You can use loans and partial withdrawals to access cash value to help for any life event, such as college loans, a down payment on a new home, or to take advantage of a potential business opportunity. It’s important to note that accessing the cash value through loans and partial withdrawals will reduce the cash value and death benefit.
  • Lower premiums. Basically, the younger you are, the lower the price will be to insure you. Also, if you’re in good health now, your premiums will be lower than if you decided to get life insurance later, when your health status may change and put you at risk for being unable to obtain life insurance at an affordable cost or even at all. And, if you lock in your premium now, it will never increase—guaranteed.3
  • If you’re ready to discuss how life insurance may fit your needs, please fill out the form on this page and a professionally-trained New York Life Insurance Company agent will contact you at your convenience.

    In Oregon, the policy form number for New York Life Whole Life is ICC12213-50.

    1“Labor Force Statistics from the Current Population Survey,” The Bureau of Labor Statistics, June 18, 2015 @
    2“Millennial College Graduates: Young, Educated, Jobless,” by Leah McGrath Goodman, May 27, 2015, @
    3The guarantees of a whole life policy are based on the claims-paying ability of the issuer.