Life insurance is a contract between you and an insurance company that provides financial protection for your family. If you pass away, your life insurance policy will pay cash (a death benefit) to your loved ones. Many families use this money to cover funeral costs, make up for lost income, or build wealth by leaving money for the next generation. Working with a New York Life agent, you can choose between temporary coverage like term life insurance or something permanent like whole life insurance. We also offer universal life insurance, which is highly customizable, and variable universal life, which gives you the option to invest in the market.
We have a variety of life insurance policies to choose from.
Long-term protection that offers tax-deferred growth.
If you’re the kind of person who likes to tackle multiple goals at once, you’ll be glad to hear that these versatile products can help protect your loved ones while also giving you a tax-advantaged way to build wealth and prepare for long-term needs like retirement.
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No matter where you are today, life insurance is a valuable tool to help protect what’s important to you, now and in the future. All life insurance policies, including term life insurance, provide a cash payment (death benefit) that helps to support your family financially if you pass away. Long-term options such as universal life and variable universal life insurance also have cash value that you can use during your lifetime for things like a down payment on a house or supplemental retirement income. With permanent whole life insurance, the cash value is guaranteed to grow over time, helping you to also build wealth for future generations. Connect with an agent to discuss the best options for you.
The right amount of life insurance coverage for you may depend on many factors, including your budget, your family situation, your needs, and your goals for the future. Connect with an agent who can help you determine the most important considerations for you, along with possible solutions.
It can be a nice benefit to have life insurance that’s offered through, and possibly funded by, your workplace. The downside is that your life insurance ends if you leave your job. You may also have fewer coverage options from which to choose. When you buy individual life insurance (either to replace employer-sponsored life insurance or in addition to it) you hold onto that policy for as long as you continue making payments. Connect with an agent to learn more about individual life insurance options.
It all depends on what your needs are. If you’re looking for immediate protection without committing to a permanent policy right now, you may want to consider term life. If you need a versatile policy that will protect your loved ones and accumulate cash value, think about whole life.
Life insurance can play an important role in your financial security at any stage of life. Starting sooner allows you to accumulate more cash value and gives you more budget-friendly options.
We have many options for both temporary and permanent life insurance policies. Many people select a combination of both, giving them appropriate coverage that fits within their budget.
The guarantees of a whole life policy are based on the claims-paying ability of the issuer.
*Accessing the cash value will reduce the available cash surrender value and the death benefit