Increasing Premium Term Life Insurance

Increasing Premium Term (IPT) offers temporary life insurance protection at an affordable initial premium. IPT is guaranteed renewable through the contract expiry age and includes a conversion privilege that is available until age 70. The coverage it provides could help families and business owners safeguard their financial futures.

• Pure life insurance protection.
• A death benefit that is, in most instances, free from federal income tax.
• An initial premium that may be considerably lower than a comparable permanent plan.
• Guaranteed renewable coverage through the contract's expiry date (see "Product Specifics" for variations).
• The privilege to convert to a permanent policy that builds cash value (see "Conversion Privilege").
• A Conversion Credit that's applied to the new policy's first-year premium.
• The financial strength of New York Life.

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

• Temporary Need for Protection
  When coverage is needed for a relatively short period of time, IPT 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, IPT could serve as a stop-gap. Young people starting their careers can choose IPT, then convert to a permanent plan as their finances improve.
• Supplemental Insurance
  IPT can be added as a rider to some permanent plans to help boost the death benefit. It's an affordable way to increase total insurance coverage.
• Family Coverage
  Optional riders such as Spouse and Children's Insurance, and Children's Insurance can be added to the policy to extend coverage to family members. (See "Riders" for more information.)
• Protection for Business Owners
  IPT can be used as a hedge to cover outstanding loans, thus shielding partners or shareholders from financial hardship.

Product Specifics
Issue Ages
15-65

Expiry Age
100 for all states except: New York 80; New Jersey 98; Maryland — Base Plan 98, Rider 100.

Minimum Face Amount
Base Plan: $250,000 Rider: $25,000

Premium Modes¹
New York Life offers several convenient ways to pay premiums: annually, semi-annually, quarterly, monthly, NYL-A-Plan, or automatic bank draft.

Premium Guarantee
Premiums shown in the policy contract are guaranteed for the first three years.

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
IPT policies allow the owner to convert all or part of the policy into permanent, cash-value-building life insurance without furnishing evidence of insurability. This valuable privilege is available until the insured is age 70.

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

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

Children's Insurance (CI)
Provides level term insurance on the children of the insured.
Issue Ages: 16-50²

Living Benefits Rider (LBR)
Gives policyowner access to a portion of the policy's available death benefit, should the insured be diagnosed with a terminal illness with a life expectancy of 12 months or less.³
Issue Ages: 15-65

Policy Purchase Option (PPO)
Gives policyowner the right to purchase a new policy on the life of the insured, at specific option dates, without proof of insurability.
Issue Ages: 15-43

Spouse and Children's Insurance (SCI)
Allows insured to purchase term insurance for spouse and children.
Issue Ages: 16-50²

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 without evidence of insurability. (Not available in New York state.)
Issue Ages: 15-65

Upromise Rider⁴
Provides for the one-time deposit of the Upromise Contribution Amount of $25, for each term policy, into the Upromise College Savings Account⁵ that you designate.
Issue Ages: N/A

Waiver of Premium (WP)
Waives all premiums, should the insured become totally disabled.⁶
Issue Ages: 15-59

The Company You Keep®
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 These ages refer to the age of the primary insured under the policy, not the age of the spouse and/or children.
3 State variations exist.
4 Not available in all states.
5 All contributions will be held in a brokerage account with Upromise Investments, Inc., Member NASD/SIPC and a wholly owned subsidiary of Upromise, Inc., neither of which are affiliated with New York Life or its subsidiaries.
6 As defined in the rider.

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