Product Solutions

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 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.

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.

^{**Issued by New York Life Insurance and Annuity Corporation.}

Survivorship life insurance – available as whole life and 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.}

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.

An income annuity where income payments begin immediately - one period after the annuity is purchased. It is designed to provide you with predictable income monthly, quarterly, semi-annually or annually, no matter how long you live, and regardless of how the financial markets perform.