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Single Premium Life

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

  • NYLIAC Asset Preserver®
    NYLIAC Asset Preserver® has been specifically designed to meet the needs of today's consumers seeking to protect their assets from depletion due to the potentially overwhelming cost of long-term care (LTC). NYLIAC Asset Preserver® is an innovative single premium universal life insurance policy with the option to access the death benefit on a tax-free basis during the insured's lifetime to help cover the cost of long-term care, if needed. The death benefit remaining in the policy at the death of the insured is passed to beneficiaries as life insurance proceeds, generally free of income tax.
  • 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 guaranteed1 to receive a life insurance benefit that is never less than total adjusted premiums paid.2 Legacy Creator SPVUL has a fast and easy approval process. You 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 the Legacy Creator Single Premium Variable Universal Life (SPVUL) insurance carefully before investing. This and other information is contained in the policy prospectus. Request from your registered representative a prospectus for the policy and the underlying investment options. Please read the prospectus carefully before investing.

  • NYLIAC Instant Legacy®
    NYLIAC Instant Legacy® is a single premium universal life insurance policy that is funded with a single, up-front premium payment that provides a Guaranteed Death Benefit3. Like all life insurance policies, it helps provide a legacy to your beneficiaries, generally income tax free. NYLIAC Instant Legacy® has a fast and easy approval process. You answer a simple questionnaire to find out if you are pre-approved for the policy.
  • 1Any 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 no apply to the investment performance or safety of the underlying investment options.

    2 Regardless 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.

    3 Guarantees are backed by the claims-paying ability of the issuer. The guaranteed life insurance benefit will be reduced by any partial surrenders and unpaid loans, including accrued loan interest.

    *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. 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.

    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, NYLIAC Asset Preserver® policy form number is 898-60-27

    Not all products are available in all jurisdictions.