Whole life insurance: Financial security for life, and all its uncertainties.

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Some insurance policies give you a whole lot more.

It starts with guaranteed protection.

Whole Life Insurance from New York Life offers permanent coverage, with premiums that never go up.

Locking in your premium now guarantees protection* for the rest of your life as long as your premium is paid when it’s due, so you can rest assured your family or business is protected—no matter what, no matter when.

The policy’s proceeds can be used in many different ways, to fund:

  • Your loved ones’ regular expenses
  • The mortgage on your home
  • Gifts to your loved ones
  • Charitable giving
  • Business needs

Yet, what sounds like the end of the story is really just the beginning of what this policy can achieve.

It grows guaranteed cash value.

As long as you keep premiums up-to-date, your Whole Life policy will build cash value. Over time, you can tap into this value to help pay for things like college or a down payment on a home.** For many, the policy’s cash value is especially useful after children have grown, when there may be less need for the death benefit. At this point, whole life can become part of your retirement plan, supplementing your income as you gradually draw down your cash value.

IT QUALIFIES YOU FOR YEARLY DIVIDENDS.

There’s another way your policy can grow in value: through dividends. A dividend is a share of New York Life’s divisible surplus. And since New York Life doesn’t answer to Wall Street shareholders, a portion of our surplus is distributed directly to our participating policy owners. Dividends are not guaranteed, but, thanks to our financial strength, New York Life has paid dividends every single year since 1854, including the economic downturn of 2008 and throughout the Great Depression.

It diversifies your tax situation.

The cash value of a whole life policy grows on a tax-deferred basis—which can help it grow considerably. And when you borrow from that value, it won’t be taxed.** In the event of an untimely death, beneficiaries also generally receive the value of your policy tax-free.

It can help protect your business.

Whole Life can be used to protect against the loss of key employees, fund buy-sell agreements, ensure the continuation of your business into its next generation, or even reward your top employees.

Let us customize whole life to your life.

We can customize your policy to pay premiums only for a set period of time, or increase your insurance benefits and grow your cash value more quickly. Other optional riders (some at additional cost), let you increase your coverage level or boost your coverage for a limited period of time with a term life rider, as well as guarantee your premium payments are taken care of should the insured ever become disabled, and more.

How could whole life work for you? Contact an expert and find out.

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The truth about whole life.

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Is Whole Life a Wise Choice at Age 23?

Read one woman’s story about making the choice. And how she’s benefiting already.

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  • Policy loans accrue interest and reduce cash value and death benefit. There may be adverse tax implications for policies classified as a modified endowment contract (MEC) or if the amount of your loans exceeds the cost basis of the policy. In addition, certain withdrawals from a policy that is not classified as a MEC and that are made within the first 15 years after it is issued may be fully or partially taxable. Distributions, including loans, from a MEC are taxable to the extent of the gain in the policy and may also be subject to 10% additional tax if the owner is under age 59½.
  • Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.