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Single premium life.

We offer three single premium life products.

New York Life Insurance and Annuity Corporation offers three single premium life insurance products to choose from.

  • NYLIAC Asset Preserver®.

    NYLIAC Asset Preserver® is a single premium universal life policy that includes an option to accelerate the death benefit during the insured’s lifetime to cover qualified long-term care expenses on an income tax-free basis if the insured becomes chronically ill and satisfies the requirements necessary to accelerate benefits.

    Asset Preserver offers a unique opportunity to leverage existing assets that may have otherwise been used to self-insure the risk of becoming chronically ill and also provides a guaranteed death benefit. The Lifetime Money Back Guarantee1 provides peace of mind and allows the owner to maintain control over his or her assets by ensuring a refund of the premium payment prior to the acceleration of benefits should clients change their mind for any reason.

  • New York Life Legacy Creator Single Premium Variable Universal Life (SPVUL).*

    New York Life Legacy Creator Single Premium Variable Universal Life (SPVUL)* provides permanent life insurance, in one convenient payment. You decide how to allocate premium dollars among professionally managed investment options and a fixed account. No matter how the underlying investment options perform, your beneficiaries are guaranteed2 to receive a life insurance benefit that is equal to the policy’s Face Amount.3 Legacy Creator has a fast and easy approval process. Just answer a simple questionnaire to find out whether you are pre-approved for the policy.

    The cash value of an SPVUL policy investment will fluctuate. Investors are asked to consider the investment objectives, risks, charges, and expenses of Legacy Creator insurance carefully before investing. This and other information is contained in the policy prospectus. Request a prospectus from your Registered Representative for the policy and the underlying investment options. Please read the prospectus carefully before investing.

  • NYLIAC Instant Legacy®.

    A single premium universal life insurance product,4 NYLIAC Instant Legacy® provides death benefit protection. Although NYLIAC Instant Legacy is not FDIC-insured, it can turn relatively liquid assets a client may have in savings accounts5 into a larger legacy for their children, grandchildren, or a favorite charity. NYLIAC Instant Legacy® instantly leverages clients’ premium dollars through a guaranteed death benefit6 and offers a tax-efficient transfer of the policy proceeds to beneficiaries upon the insured’s death. A money-back guarantee7 helps provide peace of mind by ensuring a refund of the premium payment should clients change their mind for any reason.

The company’s approval process involves completing a one-page questionnaire, so clients find out on the spot if they are pre-approved for the policy. There are no medical exams or blood tests, and final approvals are made quickly.

*New York Life Legacy Creator SPVUL is offered by prospectus only and by properly licensed Registered Representatives of NYLIFE Securities LLC. Registered products are offered by properly licensed Registered Representatives of NYLIFE Securities LLC (Member FINRA/SIPC), a Licensed Insurance Agency. The SPVUL policy involves insurance-related fees and charges, such as mortality and expense risk charges, surrender charges, cost of insurance, and underlying fund expenses, which are described in the prospectus. NYLIAC Asset Preserver is underwritten and issued by New York Life Insurance and Annuity Corporation. New York Life variable universal life products are issued by New York Life Insurance and Annuity Corporation, (NYLIAC) (a Delaware Corporation) and distributed by NYLIFE Distributors LLC (Member FINRA/SIPC). NYLIFE Securities, NYLIAC, and NYLIFE Distributors are wholly owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.

1Guarantee is available as long as no policy loans or partial cash surrenders have been made and no long-term care benefits have been paid.
2Any guarantees associated with a variable universal life insurance policy, including the life insurance benefit, are based on the claims paying ability of the issuing company, and do not apply to the investment performance or safety of the underlying investment options. Investment losses are possible in a VUL policy. The death benefit guarantee will not be in effect if the sum of any outstanding loans and loan interest is greater than the policy’s cash value.
3Regardless of market performance, the death benefit guarantee is equal to the adjusted total premium, which is the initial single premium plus any underwritten increases, less any partial surrenders, and any applicable surrender charges in excess of policy gain. The death benefit guarantee will not apply if the sum of any outstanding loans plus accrued loan interest is greater than the policy’s cash value.
4NYLIAC Instant Legacy® is a single premium universal life insurance policy for individuals. It is issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation).
5NYLIAC Instant Legacy® is not a banking product and is not FDIC insured. It is a life insurance contract that is backed by the claims-paying ability of NYLIAC.
6The face amount established at issue is guaranteed. The guarantee will only be available if there are no outstanding loans, including loan interest. Partial surrenders will result in a reduced guaranteed death benefit. The guarantee is based on the claims-paying ability of the issuer.
7You may request that the cash surrender value of this policy be paid to you, ending the policy. As stated in the policy, the cash surrender value will never be less than the premium paid into the policy, less any partial surrenders and outstanding loans, including loan interest.

In most jurisdictions, the New York Life Legacy Creator SPVUL policy form number is 308-95. In Oregon, the policy form number is 308-95-27. The Flexible Premium Variable Universal Life Insurance policy is approved under Oregon state filing number LI 041240.

In Oregon, the NYLIAC Instant Legacy® policy form number is 306-130-27. In Oregon, the NYLIAC Asset Preserver® policy form number is 898-60-27. Not all products are available in all jurisdictions.