Planning your Whole Life policy

A few things to discuss with your financial professional when choosing your whole life policy:

Most people like to select the payment schedule that matches with their needs. Think about how you'd like to customize your premiums -- you can choose how long you want to pay premiums with a guarantee that they won't go up.

Mix of death benefit and cash value
Consider what's important to you. Each of our products has a different balance of cash value accumulation and death benefit protection.

Cash value growth
Cash value can be as important as the death benefit. Policies can be structured to let you choose how quickly your cash value grows, so you can access it when you need to.

Grandfather and grandchild reading

Let's get started and take a look at what product is right for you. 

Let’s get started and take a look at what product is right for you.

Whole Life Insurance

For those looking to balance cash value accumulation and guaranteed life insurance coverage, this is a popular option. Over time you may find your cash value to be a convenient way to supplement retirement income.

Custom Whole Life Insurance

If you only want to pay premiums for a specific amount of time—as little as five years—or if you want to maximize the cash value growth in your policy, this may be the best choice for you. If you choose to pay premiums over a shorter amount of time, they may be higher. You can schedule your payments to fit your budget while building cash value that can be used for retirement income, college tuition, or whatever else comes your way


Work with a financial professional to customize your policy with these add-ons, which are also known as riders.

Premium coverage when you need it

If you become disabled, New York Life will cover your premiums if you purchase the Disability Waiver of Premium option.** Your coverage continues as long as you’re disabled.

Planning for health events

If you want tax-free acceleration of your policy’s death benefit to protect against financial hardship should you become chronically ill, you might want to purchase our Chronic Care option.** Additionally, if you are terminally ill, you could use a portion of your death benefit to pay for treatment or care with the Living Benefits option.

Grow your policy faster

If you’d like the option of contributing more to your plan when it’s convenient for you, consider the Option to Purchase Paid-Up Additions. It’s an economical way to increase your death benefit protection and build more cash value.

Protect your family in the event of an accident

If you want an additional death benefit for your loved ones in case you die as a result of an accident, you may want to purchase the Accidental Death Benefit option.**

Connect with a financial professional

Customize a strategy that works best for you.

Learn more

It's always useful to learn a little more. Take a look at these helpful links.


Guarantees of the policy are based on the claims-paying ability of the issuer
*Accessing the cash value of the policy will reduce the available cash surrender value and total death benefit
The policy form number for New York Life Whole Life Series of products is ICC18217-50P (4/18). SMRU: 1798027
**Optional rider available at an additional charge.