Whole life is issued by New York Life Insurance Company (NY,NY). In most jurisdictions, the policy form number for the New York Life Whole Life series of products is ICC18217-50P (4/18), Accidental Death Benefit: ICC17217-200R; Disability Waiver of Premium: ICC17217-225R; Living Benefits: ICC17217-495R; Chronic Care Rider: ICC17217-485R; Option to Purchase Paid-Up Additions: ICC17217-330R. State variations may apply.
1You can access cash value via loans or withdrawals through surrenders. When accessing cash value via loans, the total outstanding loan balance (which includes accrued loan interest) reduces your policy’s available cash surrender value and life insurance benefit. The amount you borrow will accrue interest daily. When taking a withdrawal through surrenders, you are surrendering any available Paid-Up Additional Insurance for its Cash Surrender Value. This means that your Policy’s Cash Value, available Cash Surrender Value and Death Benefit will be reduced by the amount of the withdrawal.
2Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
3Guarantees are based on the claims paying ability of the issuer.
4Most riders are available at an additional cost. Premiums and available benefits vary based on coverage levels and riders selected. Option to Purchase Paid-Up Additions involves an up-front expense charge.
5Available to insureds ages 0 through 59. In Maryland and Montana, this rider is not available until the insured has reached his or her fifth birthday. The benefits of this rider depend in part on when disability occurs in relation to age 60.
6The Chronic Care Rider is not available in California. Receipt of accelerated death benefits may affect eligibility for public assistance programs and may have income tax consequences. You should consult your tax advisor regarding your circumstances. This is a life insurance rider providing for an accelerated payment of the base policy face amount in the event that you are certified chronically ill as described in the policy.
7Various states have established different life expectancy periods once a terminal illness is diagnosed. There are maximum benefit levels set for this rider. A charge is applied when the rider is exercised. Your agent can provide more specific information. Receipt of accelerated death benefits may affect eligibility for public assistance programs and may be taxable. You should consult your tax advisor regarding your circumstances.
8Rider features may differ based on the insurance product that they are purchased with. Not all riders are available in every state, and some states vary the terms of certain riders. Additional limitations and conditions may apply. Please speak to your New York Life agent for complete information.
9Policies with total annual premiums exceeding $150,000 for adults or $100,000 for issue ages 0-17, require traditional underwriting,
which may include medical and lab tests.