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Whole life: Feature-rich, customizable permanent life insurance.

A myriad of benefits.

Yes, there are a lot of options for life insurance. And we encourage you to explore all of them. Here’s a look at whole life insurance

Your financial needs are different from your neighbor’s financial needs or from your parents’ financial needs. But life insurance plays a fundamental role in any plan for financial security, no matter who you are.

One of the most customizable products is whole life insurance. Overflowing with features, it provides a generally income-tax-free death benefit that can protect the financial security of your family in the event of an untimely death. Plus, if you need help purchasing a home, paying for a child’s education, or for whatever reason you choose, you can access the tax-deferred cash value that will accumulate via policy loans.1

Did we mention the versatility? New York Life Whole Life insurance can help buffer you and your family from life’s storms and can provide greater protection and financial flexibility as your needs change. Through optional riders (some at additional cost), there are a few ways to customize your policy:

  • Purchase additional coverage over and above what the premium buys, simultaneously building cash value and death benefit, dependent on your policy options;
  • Boost your coverage with term rider for a certain time period;
  • Guarantee that premiums will continue to be paid should you become disabled.
  • Acceleration of a portion of your tax-free life insurance death benefit to pay for costs associated with permanent chronic illness.

Insurance for your whole life.

Whole life is permanent. As long as premiums are paid on a timely basis, your policy can never be cancelled. It’s life insurance you’ll always have. Once set, we guarantee that your premiums will never increase.

Build your cash value.

The money that accumulates in your whole life policy is called cash value. This can grow considerably over the long term, especially since taxes on the money’s growth are deferred.

Earn dividends.

In addition to guaranteed cash values, whole life offers another potential for cash value growth—dividends.2 A dividend is a share of New York Life’s surplus distributed to participating policyholders. You can use dividends to purchase additional whole life coverage, repay policy loans, or you can take them in cash.

Plan for the future.

Since whole life premiums are based largely on age, they are typically lowest when you are young. This makes whole life an excellent way to plan for the financial future of children and grandchildren.

The versatility of whole life also makes it great for meeting a variety of business needs. You can use it to protect against the loss of key employees, to fund buy-sell agreements, or ensure the continuation of your business into its next generation.

If whole life sounds like something you can use, why not talk to a New York Life Agent? Click the “Talk to Us” button to find an Agent near you.

1Policy loans accrue interest and reduce cash value and death benefit.
2Dividends are not guaranteed.

In Oregon, New York Life Whole Life insurance policy form number is ICC12213-50. All guarantees are based upon the claims-paying ability of New York Life Insurance Company.