Making smart decisions with life insurance proceeds.

If you have received a life insurance benefit payout, you know first-hand how it can point you towards a brighter future. To help ensure the proceeds have a lasting impact, you may want to consider paying them forward into your own policy or annuity. Think of insurance as an investment that benefits the entire family.

Pass life insurance to the next generation.

Getting a life insurance benefit payout demonstrates the value of the coverage for families. The payment can help with everything from covering funeral expenses to replacing lost income, but you should take care to not spend too much, too soon.

This is an appropriate time to review your own financial planning goals and consider how life insurance can help you reach them. You could, for example, use a portion of your proceeds for a new life insurance policy to provide protection to your spouse or children and/or to help set them up for financial independence.

Invest for long-term growth.

Putting your cash into a savings account may end up costing you money in the long-run as bank interest rates may not keep up with inflation. But you have some options for investing that can bring a much better return than the bank.1

However, if you need life insurance death benefit protection, you may want to consider using some of your “lazy” money to purchase a New York life insurance policy.Annuities, which are also offered by New York Life and its affiliates New York Life Insurance and Annuity Corporation, can provide flexible options to invest a lump sum today and get a guaranteed fixed income payment in the future—regardless of market performance.3 For additional information, read more about our products.

Use life insurance as an estate planning vehicle.

Money can't buy happiness, but it can help ensure financial security. You can use the insurance death benefit proceeds and any return from long-term investments to provide for the next generation. Your loved ones will certainly appreciate it long after you're gone.

From losing a loved one to securing your kids’ future, life is always changing. We can help.

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  • 1 Christina Rexrode, "Want a Higher Interest Rate on Your Bank Account? Tough Luck," The Wall Street Journal, July 2017.
  • 2 For more complete information on life insurance products available visit
  • 3 New York Life, "New York Life Annuities-at-a-Glance," New York Life.