Term Life Insurance for Asian-Indians

Term life insurance is perhaps the most basic form of life insurance. It usually provides affordable protection, often with a guaranteed premium, for some period of time. If the insured should die while the policy is in force, the face amount is paid to the named beneficiary. At the end of the premium guarantee period, the insured can renew the coverage at a higher premium. The premium for term insurance is initially lower than a comparable permanent insurance policy; however, it can increase at each renewal. This initial lower premium usually makes term insurance an ideal choice for individuals with a temporary need for life insurance protection.

5 Year Term: As its name implies, 5-Year Term life insurance provides life insurance protection for a period of five years. 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.

20 Year Term: 20-Year Term is temporary life insurance protection. Premiums for a 20-year term policy are guaranteed to remain level for the first 10 years. The premium may increase in the 11th year. Premiums after the first ten years are expected to remain level through and including year 20, but are not guaranteed and can change annually.

Increasing Premium Term: Increasing Premium Term is temporary life insurance protection at an affordable initial premium. This type of policy is renewable each year which means you may renew the policy annually (until the expiry age which varies by state) without providing evidence of insurability, or proof of your good health. As long as you pay the premium, the policy remains in force.

Term to Age 90: As its name implies, Term to Age 90 is pure insurance protection guaranteed renewable each year until the policy owner reaches age 90. The premiums for Term to Age 90 are guaranteed to remain level in years one through ten of the policy. Beginning with the 11th year, premiums increase 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.

* Securities offered through NYLIFE Securities Inc. (Member FINRA/SIPC). 51 Madison Avenue, New York, NY 10010.

**Issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation).

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Term Life Insurance for Asian-Indians
 

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