Term to Age 90 Life Insurance At-a-Glance

As its name implies, Term to Age 90 is pure insurance protection guaranteed renewable each year until the policy owner reaches age 90. Generally a more affordable form of life insurance, term coverage provides pure insurance protection only. It does not accumulate cash value, nor is it eligible for dividends. The premiums for Term to Age 90 are guaranteed to remain level in years one through 10 of the policy. Beginning with the 11th year, premiums increase annually.

You may convert all or part of a Term to Age 90 policy into permanent, cash value insurance without providing evidence of insurability. Term to Age 90 can be appropriate when substantial coverage is needed for a relatively short 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.

Term Life Insurance to Age 90¹

Term Life Insurance to Age 90	Quick Hits
	Policy expires at age 90 and cannot be renewed Offers pure insurance protection It does not build cash value, nor is it eligible for dividends Minimum Face Amount $100,000 Offered through NYLIFE Insurance company of Arizona, a New York Life subsidiary1 A death benefit that is in most cases, free from federal income tax The privilege to convert to a permanent policy that builds cash value
A Good Choice When	There is a short-term need for protection: Term to Age 90 is often used to protect needs that last for a well-defined period, such as a loan. For business owners, it can be used to cover outstanding loans, shielding partners from financial hardship in the event of the loss of a business partner. There is a large insurance need, limited budget: Term to Age 90 can be the solution when protection is essential, but dollars are scarce. People in their 20s and 30s may purchase a Term to Age 90 policy and later convert it to a permanent plan. The conversion privilege guarantees their insurability at a later date — even if they become uninsurable.

Term Life Insurance to Age 90 Fact Sheet
Click here (PDF, 67.3 KB) to download the product Fact Sheet for Term Life Insurance to Age 90

Term Life Insurance to Age 90 in Action
John Roberts (48) and his business partner Herb Williams (51) own a local building supply company together. To get the business started three years ago, they needed to borrow $500,000 from the local bank. To secure the loan and to ensure the surviving partner would be able to pay off the loan should one of them die early, they each purchased a $500,000 Term to Age 90 life insurance policy. Should either partner die unexpectedly the other will be able to carry on in the business and the bank will be repaid in full. *^{This is a hypothetical example}

Customize Your Policy
With Term to Age 90 Life Insurance, as with nearly every New York Life Insurance policy, you can customize your policy with riders³ that let you be sure your policy does just what you need it to. Here are some of the many riders available to tailor your Term to Age 90 policy to your needs:

The following riders have an additional charge associated with them:

Accidental Death Benefit Rider
Provides an additional death benefit if the insured dies as a direct result of an accident. Issue ages 15-65. (Not available in Massachusetts.)

Waiver of Premium Rider
Waives all premiums if the insured becomes totally disabled, as defined in the rider. Issue ages 15-59.

The following riders are available at no additional cost to you:

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 and have a life expectancy of 12 months or less.² Issue ages 15-65. (Not available in Oregon or New Jersey.)

Spouse’s Paid-Up Insurance Purchase Option
(SPPO) — Gives the spouse/beneficiary the right to purchase a new paid-up whole life policy on his/her life at the death of the primary insured, without evidence of insurability. Issue ages 15-65.

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.

¹This product is offered through NYLIFE Insurance Company of Arizona, a subsidiary of New York Life Insurance Company, 4343 North Scottsdale Road, Suite 220, Scottsdale, Arizona, 85251. NYLAZ is not licensed in every state. This product is not available in New York or Maine. Please check with your agent on its availability in your state.

²State variations exist.

³ Not available in all states.

⁴All 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. Not available in all states.

(These are only partial descriptions of these riders. Not all riders are available in every state, and some states vary the terms of certain riders. We encourage you to speak to your New York Life agent for more complete information.)

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