5 Year Term Life Insurance

5 Year Term (5YT) offers affordable, temporary life insurance protection. The initial premiums are guaranteed and remain level for the first five years. Then premiums increase and are expected, but are not guaranteed, to remain level within each successive five year period.

The coverage 5YT provides could help families and business owners safeguard their financial future. The proceeds can be used during high need years to help pay mortgages and other debts, fund a child's college education, and help a family continue its standard of living.

Benefits

• Pure life insurance protection.
• A death benefit that is, in most instances, free from federal income tax.
• Guaranteed renewable coverage through the expiry age (see "Product Specifics").
• The privilege to convert to a permanent policy that builds cash value (see "Conversion Privilege").
• The financial strength of New York Life.

The Uses of 5YT
There are many situations where 5YT may be appropriate. Here are just a few examples:

Temporary Need for Protection
When coverage is needed for a relatively short period of time, 5YT can be ideal. A common use is when a mortgage or student loan is taken.

Limited Funds
In situations where life insurance is essential but dollars are scarce, 5YT could serve as a stop-gap. Young people starting their careers can choose 5YT, then convert to a permanent plan as their finances improve.

Supplemental Insurance
5YT can be added as a rider to a permanent plan to help boost the death benefit. It's an affordable way to increase total insurance coverage.

Provide Other Coverage
Riders can be added to the policy to insure a spouse and/or children, parents, or business partners, guaranteeing their future insurability (see "Riders" for more information).

Protection for Business Owners
5YT can be used as a hedge to cover outstanding loans, shielding partners or shareholders from financial hardship.

Product Specifics
Issue Ages
Base Plan: 15-75
Rider: 0-75

Expiry Age
90 for all states, except New York

Minimum Face Amount
Base Plan: $100,000
Rider: $10,000

Premium Modes
New York Life offers several convenient ways to pay premiums: annually, semi-annually, quarterly, monthly, NYL-A-Plan, or automatic bank draft method.¹

Premium Guarantee
Premiums are guaranteed and level for the first five years. The Modification of Premium Guarantee Rider can be added to assure level premiums for the second five year interval (see "Available Riders" for more details).

Risk Classes
Based on defined underwriting criteria, New York Life offers the following risk classes: select preferred, preferred, non-smoker, select standard, standard, and non-smoker and standard special class 2-13.

Conversion Privilege
5YT policies allow the owner to convert all or part of the policy into permanent, cash value life insurance without furnishing evidence of insurability. In all states, except New York, the conversion period is generally during the later of 10 years or age 30. For more detailed information on the conversion privilege and the New York variation, please contact your agent.

Available Riders
To customize your policy, you can choose from a variety of policy riders to meet your specific needs.

Accidental Death Benefit (ADB)
Provides additional death benefit if the insured dies as a direct result of an accident.
Issue Ages: 15-65

5 Year Term Rider (OCI)
Allows coverage on the primary insured, the insured's spouse and/or children, parents, or business partners.
Issue Ages: 0-75

Modification of Premium Guarantee Rider (MPGR)
Guarantees that premiums will remain at the 6th year level throughout the second five year interval (years 6-10). This rider can only be applied for at issue. The premium for the MPGR is paid during the first five years, and the benefit is in effect during policy years 6 through 10.
Issue Ages: 15-70

Living Benefits Rider (LBR)
Gives the policyowner access to a portion of the policy's eligible death benefit should the insured be diagnosed with a terminal illness with a life expectancy of 12 months or less.²
Issue Ages: 15-75

Spouse's Paid-Up Insurance Purchase Option (SPPO)
Gives spouse/beneficiary the right to purchase a new paid-up life policy on his/her life at the death of the primary insured, without evidence of insurability (not available in New York State).
Issue Ages: 15-75

Upromise Rider³
Provides for the one-time deposit of the Upromise Contribution Amount of $25, for each term policy, into the Upromise College Savings Account⁴ that you designate.
Issue Ages: N/A

Waiver of Premium (WP)
Waives all premiums should the primary insured become totally disabled.⁵
Issue Ages: 15-59

The Strength of Our Promises
Since 1845, New York Life has provided quality insurance products for individuals, families, and businesses. We have helped seven generations of families achieve their financial objectives and secure their future stability. The values that built this company are behind the products we offer and the services we provide. Our long history of financial strength ensures that we'll be there when you need us.

1 If you pay the premium other than annually, the total premium you pay each year will be more than the annual premium.
2 State variations exist.
3 Not available in all states.
4 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 subsidiaries.
5 As defined in the rider.

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