Five-Year Life Term Life Insurance At-a-Glance

5-Year Term insurance provides life insurance protection where the initial premiums are guaranteed and remain level for the first five years.

Generally an affordable form of life insurance, term coverage provides pure insurance protection only. It does not accumulate cash value, nor is it eligible for dividends.

5-Year Term can be appropriate when coverage is needed for a well-defined period of time. If the insured were to die, insurance proceeds could be used to help pay a mortgage, fund a child's education or ensure business continuation by helping to cover business expenses.

What Can 5–Year Term Life Insurance Do for You?
5-Year Term Life Insurance provides pure insurance protection that can be suitable in a number of situations. For example:

• Short-term need for protection: 5-Year Term is often used to protect needs that last for a well-defined period, such as a student loan or mortgage. For business owners, it can be used to cover outstanding loans, shielding partners from financial hardship.
• Large insurance need, limited budget: Because it is an affordable form of life insurance protection, 5-Year Term can be the solution when protection is essential, but dollars are scarce. People in their 20s and 30s often purchase a 5-Year Term policy and later convert it to a permanent plan. The conversion privilege guarantees their insurability at a later date — even if they become uninsurable.

Five-Year Term Life Insurance Quick Hits

Five-Year Term Life Insurance	Quick Hits
	Pure life insurance protection A death benefit that is, in most instances, free from federal income tax A conversion privilege that allows the policyowner to convert all of part of the policy into permanent, cash value life insurance Starting in year six, premiums on the renewed policy will typically be higher, because they are based on the Insured's age at the start of the renewal period Guaranteed renewable through the expiration age
A Good Choice When	There is a need for temporary protection. When coverage is needed for a relatively short period of time, Five-Year Term Life Insurance can be ideal Dollars are Limited. If life insurance is essential, but funds are scarce, Five-Year Term Life Insurance can serve as a stop gap. Supplemental Coverage is Needed- Five-Year Term Life Insurance can be added as a rider to a permanent plan to boost the death benefit economically Other Coverage is Required — Riders can be added to insure a spouse and/or children or a business partner. Business Owners Need Protection- Five-Year Term Life Insurance can be used as a hedge to cover outstanding loans.

Five-Year Term Life Insurance Fact Sheet
For all states except for New York, Click here (PDF, 67.3 KB) to download the product Fact Sheet for Five-Year Term Life Insurance. Click here (PDF, 67.3 KB) to download the product Fact Sheet for 5-Year Term Life Insurance for New York.

Five-Year Term Life Insurance in Action
Rob (age 30) and Janice (age 29) just bought their first house and assumed a $195,000 mortgage. While Rob and Janice both work and have life insurance through their employers, they wanted to make sure if either of them died prematurely the surviving spouse would be able to stay in the house and raise their 2-year old son. To do so, they both bought a Five-Year Term Insurance policy with a death benefit equal to their mortgage.

Now should the worst happen, Rob or Janice will receive the $195,000 free from any federal income tax, enabling the surviving spouse to stay in their home and focus on raising their son. *^{This is a hypothetical example}

Customize Your Policy
With Five-Year Term Life Insurance, as with nearly every New York Life Insurance policy, you can customize your policy with riders that let you be sure your policy does just what you need it to. Here are some of the many riders¹,² available to tailor your Five-Year Term policy to your needs:

The following riders have an additional charge associated with them:

Waiver of Premium Rider
Waives all future premiums and keeps the policy in force if you become totally disabled as described in the rider. You would not need to worry about paying your life insurance premiums. Issue ages 15-59.

Accidental Death Benefit Rider
Provides an additional death benefit if you were to die as a direct result of an accident. Issue ages 15-65.

The following riders are available at no additional cost to you:

Five-Year Term Rider
Allows coverage on the primary insured, the insured’s spouse and/or children, parents, or business partners. Issue ages 0-75

Living Benefits Rider
Lets you take a portion of the policy’s death benefit if you are diagnosed with a terminal illness with a life expectancy of 12 months or less.¹ Issue ages 15-75.

Upromise Rider²
Provides for the one-time deposit of a Upromise Contribution Amount of $25 for each term policy in the Upromise College Savings Account³ you designate.

Please note: All information is subject to the terms and conditions of the particular policy, including any exclusions or limitations.

(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.)

¹State variations exist

²Not available in all states

³All 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.

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