Whole Life Insurance At-a-Glance

Whole Life insurance from New York Life Insurance Company has helped provide essential financial security to families for generations. It can provide a foundation upon which you can build your family’s financial future. In addition to a death benefit, Whole life also accumulates cash value, and is eligible to receive dividends. Dividends are not guaranteed

The cash value that accumulates in the policy can be accessed during your lifetime to fund needs such as a child’s education or a new home. Loans against the policy accrue interest and decrease the cash value and death benefit by the amount of outstanding loan and interest. It is a product that can be customized to meet your family’s unique needs.

Highlights of a whole life policy include:

• A level premium guaranteed never to increase
• A guaranteed death benefit
• Tax-deferred cash value accumulation
• The ability to borrow from cash value, generally, on a tax-free basis¹
• The potential to earn dividends as declared by the company²

Whole Life insurance can be used to help protect your family, your mortgage or to help supplement retirement income¹. It can also be used for charitable giving purposes or as an executive benefit to help assure a business’ financial future.

Whole Life Helpful Facts

WHAT IS IT?	WHOLE LIFE IS
	For millions of families, whole life is the foundation upon which they build their financial future. It is one policy that protects your family if the unexpected happens, from the day you purchase it until the day you die, as long as you pay the premiums when due.
QUICK FACTS	A guaranteed death benefit, generally free from federal income tax A level premium that is guaranteed never to increase Tax-deferred cash value accumulation Eligible to earn dividends as declared by the company2 Ability to borrow from cash value on a generally tax-free basis1
A GOOD CHOICE WHEN	You need lifetime protection for your family or a business in the event of your death You want to accumulate cash value for use during your lifetime1 You have unique needs- the policy can be customized in many ways through the addition of policy riders You need traditional insurance protection, mortgage protection, supplemental retirement funding2, supplemental education funding2, or other cash value needs2

Whole Life in Action

Frank and Roberta, both 25, have been married for two years. They recently had their first, baby, Sophie, six months ago. While they each had $200,000 of term coverage, after the baby was born, they wanted a more permanent solution to their long-term insurance protection needs. They each converted their term policies to whole life policies and added $100,000 term riders to each policy. (Riders are available in most jurisdictions at an additional cost.) They now know they are covered in the event of their death and can begin to increase their permanent coverage as their insurance needs grow.

Customize Your Policy

Whole Life is a highly customizable product. You can choose from a wide variety of policy riders to meet your specific needs:

Accidental Death Benefit Provides additional death benefit equal to the face amount of the policy if you were to die as a result of an accident, up to $300,000 maximum, prior to age 70.

Child's Protection Benefit Protects the ability to continue paying for insurance purchased on your child. In the event of the death or disability of a premium payer, New York Life will waive the premiums on the child’s policy until the policy anniversary closest to the child's 25th birthday.

Children's Insurance Provides level term insurance on the children of the insured that can be later converted to permanent insurance.

Disability Waiver of Premium Helps give peace of mind by assuring that valuable insurance coverage is not lost when the policyowner is unable to pay premiums due to a total disability. With this rider, New York Life will waive premiums should the insured become totally disabled, as explained in the rider, and total disability has continued for at least six months

Dividend Option Term Combines a decreasing term rider with the paid-up additions dividend option. Each year, the amount of term insurance decreases automatically by the same amount as the increase in permanent insurance provided by the paid-up additions. This helps make more insurance coverage available at an affordable cost. The remaining term insurance can be converted to a permanent life insurance policy without evidence of insurability.

5 Year Term Allows you to purchase additional term insurance on you, your spouse, your child, your parent or a business partner. It can be converted to permanent life insurance during the conversion period on an attained age or original age basis. Premiums remain level for the first 5 years. In years 6-10 premiums increase and are expected, but not guaranteed, to remain level. Thereafter, premiums increase annually.

Increasing Premium Term Enables you to purchase additional insurance that can be converted to permanent life insurance during the conversion period on an attained age or original age basis.

Insurance Exchange Provides for the exchange of policy coverage to a successor insured, subject to evidence of good health.

Living Benefits Rider Gives you access to a portion of the policy's eligible death benefit during your lifetime should the insured be diagnosed with a terminal illness with a life expectancy of 12 months or less. (State variations exist.)

Option to Purchase Paid-Up Additions OPP is an economical way to increase your death benefit protection and build more cash value. OPP premiums are used to purchase additional life insurance coverage that has cash and loan value, and is eligible for dividends. Dividends are not guaranteed.

Policy Purchase Option Guarantees the option to purchase additional insurance at certain ages and at critical junctures in your lifetime, when your insurance needs are likely to increase, such as marriage, or the birth or adoption of a child.

Spouse's Paid-Up Insurance Purchase Option Gives your spouse/beneficiary the right to purchase a new paid-up life insurance policy on his/her life without evidence of insurability at the time of the insured's death (Rider Insured's Paid-Up Insurance purchase Option in New York.)

Survivor Purchase Option Allows your policy beneficiary to purchase a new life insurance policy without proof of insurability on a designated insured you’ve selected at issue.

Upromise Rider Provides for the one-time deposit of the Upromise contribution amount of $25 for each Whole Life policy into the Upromise College Savings Account³ that you designate.

(These are only partial descriptions of these riders. Not all riders are available in every state, and some states vary the terms of certain riders. We encourage you to speak to your New York Life agent for more complete information.)

¹ Loans against your policy accrue interest at the current variable loan interest rate and decrease the death benefit and cash value by the amount of the outstanding loan and loan interest.
² Dividends are based on the policy's applicable dividend scale, which is neither guaranteed nor an estimate of future performance.
³ All contributions will be held in a trust account with Upromise, Inc. for the benefit of Upromise members. Upromise, Inc. is not affiliated with New York Life or its subsidiaries.

Questions about this article or about New York Life, our subsidiaries and the products that we offer? Please call this toll-free number 800-710-7945 to arrange for a discussion with a New York Life agent or a NYLIFE Securities LLC financial services professional.

This material is for informational purposes only. Neither New York Life nor its agents provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
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