The Advantages of Buying Term Life Insurance from New York Life

The New York Life Advantage
Term life insurance provides affordable life insurance protection for a temporary period of time.

Converting Your Protection
You can have your term policy exchanged for a permanent policy that can accumulate tax-deferred cash value. The process of exchanging your policy is called a conversion.

• It's important to have the ability to convert your policy because your life insurance needs may change in the future.
• It's beneficial to have the ability to convert because it doesn't require you to take another medical exam, even if you've become uninsurable.
• All term policies from New York Life allow conversion to any cash value plan¹ that New York Life and its subsidiaries offers, without additional medical underwriting².

Value-Added Customization
Through the use of riders, you can customize a New York Life term policy to meet your unique requirements.

• If you become totally disabled for six months or more, we will waive the premium and keep the policy in force³.
• You can elect to have an additional death benefit in the event of an accidental death.
• Coverage for spouse, children, parents and business partners is available on your policy.
• A spouse-beneficiary can purchase paid-up life insurance with the policy death benefit proceeds, without providing any evidence of insurability⁴.
• All or part of your death benefit proceeds can be accelerated should you be diagnosed with a terminal illness and found to have a life expectancy of 12 months or less⁵.

These are only some of the riders New York Life offers. Your agent can provide you with more details.

Automatic Renewability

• After the initial term period ends, your policy renews automatically without additional underwriting.
• Your policy is renewable until at least age 90⁶.

Upromise Advantage

• Available on all New York Life term policies⁷.
• A New York Life term policy is eligible for a $25 contribution towards a child's college education when you register the policy in your Upromise⁸ account.

Strength of New York Life

• New York Life has among the highest ratings from the leading independent ratings agencies, including Standard and Poor's, A.M. Best, Fitch, and Moody's⁹.
• Your New York Life agent is available to provide assistance with any questions you have or policy service you need.

Our Family of Term Products:

Increasing Premium Term
Issue Ages:
15-65

When Policy Expires:
Age 100⁶

Minimum Face Amount:
$100,000

Premium Guarantee:
First 3 years

Conversion Privilege:
To age 70

Increasing Premium Term can be used when there is a relatively short-term need for insurance protection, such as collateral for a loan. Increasing Premium Term offers several riders to fit your unique needs. And since Increasing Premium Term is renewable without additional underwriting, you can keep your coverage for as long as you need it, or until age 100⁶.

Five Year Term
Issue Ages:
15-75

When Policy Expires:
Age 90¹⁰

Minimum Face Amount:
$50,000

Premium Guarantee:
Level for the first 5 years

Conversion Privilege:
10 years or age 30 (whichever is later)¹¹

Five Year Term is a good choice when money is scarce but life insurance protection is needed. Premiums are guaranteed to remain level for the first five years; then premiums increase and are expected to remain level within each subsequent five year period, but are not guaranteed and can change annually. Five Year Term is also available as a rider, which means you can have additional coverage on yourself, your spouse, children, parents and/or business partners.

Term to Age 90
Issue Ages:
15-65

When Policy Expires:
Age 90

Minimum Face Amount:
$100,000

Premium Guarantee:
Level for the first 10 years

Conversion Privilege:
10 years

Term to Age 90, issued through one of our subsidiary companies, New York Life Insurance Company of Arizona, is for those looking for a longer term guarantee. Premiums are guaranteed level for the first 10 years, and then increase annually. Term to Age 90 has a conversion privilege for the first 10 policy years, regardless of your age at issue.

Twenty Year Term
Issue Ages:
15-60¹²

When Policy Expires:
Age 90¹⁰

Minimum Face Amount:
$100,000

Premium Guarantee:
Level for the first 10 years

Conversion Privilege:
10 years or age 30 (whichever is later)¹¹

For those who want longer guaranteed level premiums, Twenty Year Term may be the ideal solution. Premiums are guaranteed to remain level for the first 10 years. In years 11-20, premiums are expected (but not guaranteed) to remain the same as in years 1-10. Thereafter, the premium rate increases annually.

At no charge to you, a New York Life agent — professionally trained and experienced — can help you analyze your needs and recommend appropriate solutions through insurance and financial products and concepts. Click here to request a no obligation review with a New York Life agent.

1 Except Asset Preserver.
2 Conversion period varies by product.
3 If the disability continues after age 80, the policy will become a permanent plan with no more premiums due.
4 Not available in New York.
5 Various states have established different life expectancy periods once terminal illness is diagnosed. Your agent will be able to provide you with information specific to your state.
6 State variations exist.
7 Not available in all states.
8 All contributions will be held in a brokerage account with Upromise Investments, Inc., MEMBER FINRA/SIPC and a wholly owned subsidiary of Upromise Inc., neither of which is affiliated with New York Life or its affiliates.
9 Standard & Poor's, AA+; A.M. Best, A++; Moody's, Aaa; Fitch, AAA for financial strength according to third party reports (12/20/05).
10 Age varies in New York.
11 Final date for conversion is dependent on issue age, and varies in New York.
12 Age 15-59 in New Jersey.

This material is being provided for informational purposes only. Neither New York Life nor its agents provide legal, tax or accounting advice. Please contact your own advisors for legal, tax and accounting advice.

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