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At the halfway mark, 2017 was looking a bright for job hunters. According to recent data from the Bureau of Labor Statistics, the U.S. unemployment rate for June was 4.4%. But millennials still had some catching up to do.1


Towards the end of 2016, the millennial unemployment rates took at 12.8%.2

But, with a lot of determination and a little bit of luck, there’s a better chance today that you’ll be landing that coveted job. And if you’re already employed, congratulations—you’re well on your way to establishing financial independence.

But having a job is only the first step toward achieving financial stability. While it may be surprising, there’s no better time than now—when you’re young and single—to begin thinking about building and protecting your financial future. A good place to start is with life insurance.


The primary purpose of life insurance is to provide a death benefit that can replace lost income in the event of a death. However, cash value policies also include an attractive accumulation element. These dollars can be used in the future for whatever purpose the policy owner desires—to help pay educational tuition, to help make a down payment on a home, or to supplement retirement income if the insurance needs decrease.


Life insurance purchased today can also protect your future insurability. Even if you are single today, you may eventually have a family. Cash value life insurance, also known as whole life insurance, once issued, is in force for life, assuming all required premiums are paid when due. This will be the case even if there are future changes in your health. And the younger and healthier you are when you purchase whole life insurance, the less expensive it will be.

Take advantage of what life insurance can offer during your lifetime.

TAX-DEFERRED CASH VALUE ACCUMULATION. You’ll enjoy tax-free access to the policy 's cash value through a combination of loans and withdrawals.

ACCESS TO “LIVING BENEFITS.” You can use loans and partial withdrawals to access cash value to help for any life event, such as college loans, a down payment on a new home, a wedding, a potential business opportunity, or paying off college loans. It’s important to note that accessing the cash value through loans and partial withdrawals will reduce the cash value and death benefit.

LOWER PREMIUMS. Basically, the younger you are, the lower the cost to insure you. So if you’re in good health now, your premiums will be lower than if you decide to get life insurance later, when your health status may change and put you at risk for being unable to obtain life insurance at an affordable cost or even at all. And, if you lock in your premium now, it will never increase—guaranteed.3

If you’re ready to discuss how life insurance may fit your needs, please fill out the form on this page and a professionally trained New York Life Insurance Company agent will contact you at your convenience.

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In Oregon, the policy form number for New York Life Whole Life is ICC12213-50.

1 "Database, Tables, & Calculators by Subject", The Bureau of Labor Statistics, June 18, 2015 @http://data.bls.gov/timeseries/LNS14000000

2 Larry Alton, "Millennials Are Struggling to Get Jobs-Here's why, and What to Do About it," Forbes, December 22,2016.

3 The guarantees of a whole life policy are based on the claims-paying ability of the issuer.