Custom Whole Life Insurance At-A-Glance

New York Life Custom Whole Life Insurance policy is the first whole life insurance product that lets you select how long you pay premiums¹ and it is designed to maximize the cash value accumulation in the policy. Its unique design allows you to coordinate the paid-up date of your policy precisely with your personal financial goals and timetable, and access your policy’s cash value in the form of periodic payments.²

Should the entire death benefit no longer be needed, the policy values may be used to supplement retirement income, provide additional education funding, or for other purposes. Periodic payments can be structured so that you can obtain the payments tax-free.

Whole Life insurance has provided essential financial security to families for generations. Custom Whole life shares the highlights of a Whole Life policy, including:

• A level premium guaranteed never to increase
• A guaranteed death benefit
• Tax-deferred cash value accumulation
• The ability to borrow from cash value, generally, on a tax-free basis³
• The potential to earn dividends as declared by the company⁴

Custom Whole Life Helpful Facts

WHAT IS IT?	CUSTOM WHOLE LIFE IS
	Custom Whole Life insurance is the first whole life insurance policy that lets you select how long you pay premiums. Like whole life it offers a number of guarantees, including, lifelong death benefit protection as long as you pay your premiums when due. The policy is designed to maximize cash value accumulation and to allow you to coordinate the paid-up date of your policy with your individual financial goals and timetable. Once your policy is paid-up, you can access your policy’s cash value in the form of periodic payments, which can be used to supplement retirement income, provide education funding or other purposes.
QUICK FACTS	A guaranteed death benefit, generally free from federal income tax A level premium that is guaranteed never to increase Ability to select how long you pay premiums Tax-deferred cash value accumulation Eligible to earn dividends as declared by the company4 Ability to borrow from the cash value on a generally tax-free basis3
A GOOD CHOICE WHEN	You want to pay premiums for a specific number of years to time to your unique financial needs You want to access the cash value in your policy during your lifetime to achieve a specific financial objective (i.e., to supplement retirement income, help with education funding, or for any purpose you choose

Custom Whole Life in Action

Richard Jenkins, 45, wants to retire at age 55. He has a 401(k) plan that he contributes to consistently. To supplement his 401(k) income, Richard decides to purchase a $500,000 Custom Whole Life policy and pay premiums for 15 years. Beginning at age 60, he will supplement his retirement income with monthly periodic payments from the cash value accumulated in his policy.

Customize Your Policy

You can choose from a wide variety of policy riders to meet your specific needs^*:

Accidental Death Benefit — Provides an additional death benefit equal to the face amount of the policy if the insured dies as a result of an accident prior to age 70 ($300,000 maximum).

Child's Protection Benefit — Provides for premiums to be waived until the policy anniversary closest to the child’s 25th birthday, in the event the premium payer (parent or guardian) dies or becomes disabled.

Disability Waiver of Premium — With the purchase of this rider, New York Life will waive premiums should the insured become totally disabled, as explained in the rider.

Dividend Option Term — Combines a decreasing term rider with the paid-up additions dividend option. Each year, the amount of term insurance decreases automatically by the same amount as the increase in permanent insurance provided by the paid-up additions. This helps make more insurance coverage available at an affordable cost. The remaining term insurance can be converted to any whole life policy New York Life makes available on an attained age or original age basis.

Insurance Exchange — Provides for the transfer of policy coverage to a successor insured, subject to evidence of good health.

Living Benefits Rider — 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.⁵

Option to Purchase Paid-Up Additions — An economical way to increase your death benefit protection and build more cash value. OPP premiums are used to purchase additional, paid-up life insurance that has cash value and loan value, and is eligible for dividends.⁶

Policy Purchase Option — Guarantees the option to purchase additional insurance at certain ages and special life events, without having to provide evidence of insurability.

Spouse's Paid-Up Insurance Purchase Option⁷ — At the time of the insured’s death, gives the spouse/beneficiary the right to purchase a new paid-up life insurance policy on his/her life without having to provide evidence of insurability.

Upromise Rider — Provides for the one-time deposit of the Upromise contribution amount of $25 for each Custom Whole Life policy into the Upromise College Savings Account⁸ you designate.

¹ In no case can the premium paying period be less than 5 years or extend beyond age 75.
² Policy values include non-guaranteed dividends, so periodic payments funded by these policy values are not guaranteed and could terminate earlier than originally illustrated.
³ Loans against your policy accrue interest at the current variable loan interest rate and decrease the death benefit and cash value by the amount of the outstanding loan and loan interest.
⁴ Dividends are based on the policy's applicable dividend scale, which is neither guaranteed nor an estimate of future performance.
⁵ Various states have established different life expectancy periods once terminal illness is diagnosed.
⁶ Dividends are based on the policy’s applicable dividend scale, which is neither guaranteed nor an estimate of future performance. Although dividends cannot be guaranteed, New York Life has paid annual dividends to policyowners for more than 150 consecutive years.
⁷ Rider Insured’s Paid-Up Insurance Purchase Option in New York.
⁸ All 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.
^* These are only partial descriptions of riders. Not all riders are available in every state and some states vary the terms of certain riders. Please speak to a New York Life agent for complete information.

Questions about this article or about New York Life, our subsidiaries and the products that we offer? Please call this toll-free number 800-710-7945 to arrange for a discussion with a New York Life agent or a NYLIFE Securities LLC financial services professional.

This material is for informational purposes only. Neither New York Life nor its agents provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
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