It's okay if you thought whole life was out of your reach. We just made it reachable.

Get a lifetime of protection—for less.

  • Guaranteed Death Benefit

    You can be sure that your death benefit will be paid—in full—when the time comes.*

  • Lifetime Coverage

    No ifs, ands, or buts. As long as your premiums are paid, you’re protected for life.

  • Lower, Fixed Premiums

    Once set, your premiums cannot go up for any reason—not even a change in age, health, or the economy.

Protect your whole life, not just part of it. 

As the name suggests, Value Whole Life is the most economical whole life coverage we offer. Unlike term policies that eventually expire, Value Whole Life covers your whole life-not just part of it. It also gives you the same guaranteed death benefit protection as all our other whole life policies, but keeps costs down by spreading your payments out a little further and by offering a little less cash value and divided growth potential. That’s the trade-off and, for many, it’s worth it. 

Provided all premiums have been paid and you have not taken out any outstanding loans. All guarantees are subject to the claims-paying ability of the issuer.

Look at all you get. 

While Value Whole Life may be our most affordable whole life policy, it’s still loaded with valuable benefits:

Guaranteed death benefit protection - Your death benefit is 100% guaranteed. As long as you pay your premiums and do not have any outstanding loans, you know exactly how much your beneficiaries will receive. There are no ups and downs unless you decide to make them.

Lifetime coverage - Value Whole Life provides financial protection for your whole life - no matter how long you live - so you never have to worry about outliving your coverage.

Guaranteed level premiums - As long as you own your policy, your premiums are locked in stone. They will never go up - not even if there is a change in your age, health, or the economy. 

Guaranteed cash value growth - Cash value is a savings component that lives within your policy and builds over time. While it grows more slowly here than in our other whole life policies, it can still be an effective way to prepare for future financial needs.** 

  • Retiring a mortgage
  • Funding a child or grandchild’s education
  • Paying emergency medical costs
  • Opening or expanding a family business
  • Supplementing retirement income as your life insurance needs decrease

Dividend growth potential - One of the benefits of purchasing whole life coverage from New York Life is that you will be eligible to receive dividends. While dividends are not guaranteed, New York Life has awarded them for more than 160 consecutive years. 

Tax advantages - In general, the death benefit of a life insurance policy is tax-free upon receipt so it can be an extremely efficient way to transfer wealth. What’s more, your policy’s cash value grows tax deferred and can be borrowed against or withdrawn on a tax-free basis.***

Here’s why you should consider it.

If you’re a late starter looking for a lifetime of coverage and benefits, Value Whole Life could be the affordable solution you’ve been waiting for. With this policy, you now have a truly economical way to create a guaranteed inheritance for your loved ones. And, because Value Whole Life is so affordable, it can also be a viable long-term option for young families who trying to make ends meet today-and tomorrow.

 

Talk it through with an expert.

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  • Accessing the cash value of a policy will reduce the total cash value and total death benefit. All guarantees are subject to the claims-paying ability of the issuer.
  • 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.

In Oregon, the New York Life Whole Life, Value Whole Life, and Custom Whole Life policy form number is ICC17217-50P.