Our Products

With a variety of life insurance and financial products, we can help you meet a number of business and financial needs. Some of them include:

 

Life Insurance

Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out – or for someone who's starting over. 

Whole Life

Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.

Term Life

Term Life policies provide coverage for a specific amount of time – such as 5 years, 10 years or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.

Universal Life

Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.

Variable Universal Life

Variable Universal Life combines the premium and death benefit flexibility of a Universal Life policy with investment opportunities. You can allocate your premium amongst a variety of professionally managed investment divisions plus a fixed account. Assets allocated to the investment divisions are subject to market risk and may lose value. Of course, with investment opportunities comes risk along with the potential for reward.

Survivorship Life

Survivorship life insurance – available as whole life, universal life or variable universal life – covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.

The policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments. If loans or withdrawals are made, or if current interest rates or changes fluctuate.

Annuities

An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump-sum of money into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for retirement. Income annuities are used to generate a stream of income payments that is guaranteed to last for as long as you need it to – even for the rest of your life*. Some of the different types of annuities are:

Fixed Interest Deferred Annuities

With a Fixed Interest Deferred Annuity, the interest rate on your policy is guaranteed never to fall below a certain amount (subject to the claims paying ability of the issuing company). For many people, this provides a measure of security about their investment.

Variable Deferred Annuities

A Variable Deferred Annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy’s accumulated value – and sometimes the amount of monthly annuity benefit payments – fluctuates with the performance of your investment account. There are fees, expenses and risks associated with the contract. Please be aware that assets allocated to the investment divisions are subject to market risks and may fluctuate in value.

All guarantees associated with Life Insurance and Annuity Contracts are based on the claims paying ability of the issuing insurance company. Withdrawals may be subject to regular income tax, and if made prior to age 59 1/2, may be subject to a 10% IRS penalty. In addition surrender charges may apply.

Guaranteed Lifetime Income Annuity

It provides a “pension-like” guaranteed income stream for life with fixed income payments that begin immediately and are not subject to market ups and downs. The income from a guaranteed income annuity ensures that no matter how long your retirement is, you will be covered. And since you cannot predict how long your retirement will be, let New York Life eliminate the guesswork.

Guaranteed Future Income Annuity

It helps you provide a guaranteed lifetime income stream that starts at a future date. We can customize your future income stream to meet your retirement goals, and your income payments are not subject to the volatility of the stock market.


Long Term Care Insurance

Long-Term Care Insurance is still a relatively new type of insurance product. Many people do not understand what long-term care insurance policies cover, how and when the policies pay benefits, and who should obtain coverage.