Whole Life Insurance Options From New York Life


For whole life policies, New York Life’s options are Whole Life and Custom Whole Life. These whole life insurance policies are; Guaranteed to have level monthly premiums for the Whole Life policy and flexible premiums for the Custom Whole Life policy

Available through New York Life agent; Offered with lifetime coverage periods. The Custom Whole Life policy offers flexibility in premium amounts, premium frequency, and coverage, with the option to pay premiums for a minimum of five years. Policies provide a tax-deferred cash value that can be accessed during the policyholder's lifetime. A Whole Life policy has a lifetime premium payment period, and the Custom Whole Life policy has a custom premium payment period.

Death benefits can be paid in a lump sum.

The following riders are offered: disability waiver of premium, option to purchase paid-up additions, living benefits option, accidental death benefit option, and chronic care option.

Online tools include a coverage calculator and customer service.

Financial benefits include a tax-free death benefit, tax-deferred cash value that can be accessed during the insured's lifetime, and eligibility for dividends.

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