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NYLIFE Securities
MainStay Mutual Funds
Retirement Plan Services

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New York Life Insurance
Term Life
New York Life Insurance
Whole Life
New York Life Insurance
Variable Universal Life
New York Life Insurance
Universal Life

The basics

Term Life

Temporary coverage, often with options that allow you to prepare for the future.

Whole Life

Guaranteed lifetime protection and access to cash value that's guaranteed to grow.

Variable Universal Life

Long-term protection with the opportunity for cash value to grow based on market performance.

Universal Life

Long-term protection for those who aren't focused on accumulating cash value.

Length of coverage

Term Life

A set period of time, usually 10 to 20 years.

Whole Life

Lifetime protection as long as your premiums are paid.

Variable Universal Life

Long-term protection.

Universal Life

Long-term protection.

How you pay

Term Life

Pay premiums for as long as your coverage lasts. With many policies, premiums are locked in for a set period.

Whole Life

Premiums are guaranteed to never increase, and there are options for how long and how often you pay—monthly, quarterly, or yearly.

Variable Universal Life

Maintain your initial premium or adjust based on your budget or coverage needs.

Universal Life

Maintain your initial premium or adjust based on your budget or coverage needs.

Cash value and growth

Term Life

None.

Whole Life

Guaranteed cash value growth that can be accessed when needed and may increase through dividends, when paid. These benefits accrue tax deferred, allowing you to maximize your savings.

Variable Universal Life

Cash value that fluctuates based on market performance and can be accessed when you need it. These benefits accrue tax deferred, allowing you to maximize your savings.

Universal Life

In some cases, includes cash value growth that can be used for flexibility on premium payments. These benefits accrue tax deferred, allowing you to maximize your savings.

Life insurance benefit

Term Life

Death benefits can be transferred to beneficiaries tax free.

Whole Life

Death benefits can be transferred to beneficiaries tax free.

Variable Universal Life

Death benefits can be transferred to beneficiaries tax free.

Universal Life

Death benefits can be transferred to beneficiaries tax free.

The guarantees of a whole life policy are based on the claims-paying ability of the issuer.
Accessing the cash value will reduce the total cash value and total death benefit.

Configure a plan that aligns with your needs

Now that you've seen some options and understand how various products work, you can build a plan that's personalized for your family's needs. It can be helpful to speak with a financial professional about different ways to combine features. Our expert guidance can help you make decisions on insurance types and the available add-ons.

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