New York Life's Level Premium Convertible Term policy (form #210-60) is issued by New York Life Insurance Company and guarantees a level premium for the initial term of the policy; proceeds are payable upon death of the insured. This policy has exclusion and limitations. For costs and complete details of coverage, please contact your insurance agent or New York Life. Any initial term between 10 to 20 years can be selected. Thereafter the premiums increase annually. Initial term quotes provided are based on user input and assumptions. Since this product is underwritten, premium may vary from what is shown here. Paying premiums on a basis more frequently than annually (monthly, quarterly, semi-annually, NYL-A-PLAN or by Check-O-Matic) results in paying a greater total premium during one year's time. The cost of paying annualized payments will be more than the cost of paying one annual premium.