New York Life Insurance Company
Life insurance isn’t just for the elderly or the retired community. Life insurance can be purchased at all ages. In fact, it’s extremely important to plan for your financial future and researching life insurance at an early age will help you take advantage of the many different opportunities made available. The New York Life Insurance Company offers many different options to their customers. Term life insurance, whole life insurance, universal life insurance and variable universal life insurance are some of the options made available by the New York Life insurance company. Each policy is designed to meet the needs of different goals made by customers.
Term life insurance policies are geared towards those who prefer to buy life insurance for a certain number of years. In other words, term life insurance is for a set period of time, while other insurance policies are typically used for the remainder of the insurer’s life. Most term life insurance policies will have a maturity date of 10 to 20 years, which means that the policy will expire after its maturity date. However, term life insurance polices can be continued once they expire, which is a huge benefit for the elderly, retirees and those who have a family to take care of.
Whole life insurance policies that are offered by the New York Life Insurance Company are used for the entire life of the insurer. Premiums are never increased and guaranteed death benefits are offered. Another advantage to whole life insurance is tax-deferred chase value accumulation. Whole life insurance also allows the customer to borrow from the cash value without having to pay taxes on it. Certain life insurance companies will also provide dividends with whole life insurance policies as well. Whole life insurance polices are geared towards a life time of coverage, while term life insurance policies expire.
Universal life insurance policies that are offered by the New York Life Insurance Company are primarily used by those who want the option to access death benefits. Accessing death benefits will help families and loved ones pay for long term care services in the event the life insurance policy holder is struck by a debilitating illness. Universal life insurance polices offer tax deferred cash, tax-free death benefits, and tax-free benefits that are used to pay for long term care. Each life insurance policy allows some wiggle room that customers can take advantage of and modify to their needs.
There are other life insurance plans that are made available by the New York Life Insurance Company as well. Corporate sponsored plans, single premiums life insurance and survivor life insurance plans are all typical life insurance plans offered by the New York Life insurance company. Corporate sponsored plans are structured by corporations that offer life insurance to their employees. Single premium life insurance plans are for those who are looking for asset protection, in case they are overwhelmed with the cost of long term care. Survivor life insurance plans are geared towards allowing the policy holder to transfer assets to a spouse or a family member.
The New York Life Insurance Company offers many life insurance plans that help people plan for their future. Life insurance is extremely important, and the right life insurance policy will help survivors on the policy deal with hard times. The current economic times is something that people are struggling with, and having a life insurance plan that can be customized meet the difficult challenges down the road. Life insurance policies can be researched easily by going online. The New York Life insurance company offers plenty of tools that customers can use for their benefit.