5 Year Term Life Insurance
 20 Year Term Life Insurance
IPT Term
Whole Life Insurance
NYLIAC VUL 2000 (Variable Universal Life)

Click on a product below to view additional details about the policy.

New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
www.newyorklife.com

5 Year Term (5YT) offers affordable, temporary life insurance protection. The initial premiums are guaranteed and remain level for the first five years. In years 6-10 premiums increase and are expected, but are not guaranteed, to remain level. Thereafter, premiums increase annually.

The coverage 5YT provides could help families and business owners safeguard their financial future. The proceeds can be use to help pay mortgages and other debts, fund a child's college education, and help a family continue its standard of living.

Highlights

• Pure life insurance protection.
• A death benefit that is, in most instances, free from federal income tax.
• Guaranteed renewable coverage through the expiry age.
• The privilege to convert to a permanent policy that builds cash value.
• The financial strength of New York Life.

The Uses of 5YT

Temporary Need for Protection - When coverage is needed for a relatively short period of time, 5YT can be ideal. A common use is when a mortgage or student loan is taken.

Limited Funds - In situations where life insurance is essential but dollars are scarce, 5YT could serve as a stop-gp. Young people starting their careers can choose 5YT, then convert to a permanent plan as their finances improve.

Supplemental Insurance - 5YT can be added as a rider to a permanent plan to help boost the death benefit.

Provide Other Coverage - Riders can be added to the policy to insure a spouse and/or children, parents, or business partners, guaranteeing their future insurability.

Product Specifics

20 Year Term (20YT) offers affordable life insurance protection. The initial premiums are guaranteed to remain level for the first ten years. In year eleven, the premiums are expected to remain the same for the next ten years, but this is not guaranteed. At year twenty-one, the premium rates increase annually.

The coverage 20YT could help families and business owners safeguard their financial futures. The death benefit can be used to help pay mortgages and other debts, fund a child's college education, expand business operations, and help a family continue its standard of living.

Highlights

• Pure life insurance protection
• A death benefit that, in most instances, is free from federal income tax.
• Guaranteed renewable coverage through the expiry age.
• The privilege to convert to a permanent policy that builds cash value.
• The financial strength of New York Life.

The Uses of 20YT

Temporary Need for Protection - When coverage is needed for a finite period of time, 20YT can be ideal. A common use is when a mortgage or student loan is taken.

Limited Funds - In situations where life insurance is essential but dollars are scarce, 20YT could serve as a stop-gp. Young people starting their careers can choose 20YT, then convert to a permanent plan as their finances improve.

Product Specifics

Issue Ages:	Age 15 - 60
Expiry Age:	90 for all states, except New York
Minimum Face Amount:	$100,000
Maximum Face Amount	Subject to New York Life limits
Premium Modes:	Several convenient ways to pay premiums: annually, semi-annually, quarterly, Check-o-Matic, and NYL-A-Plan method
Risk Classes	Based on defined underwriting criteria, New York Life offers the following risk classes: select preferred, preferred, non-smoker, select standard, standard, and non-smoker and standard special class 2-13.
Conversion Privilege	20YT policies allow the owner to convert all or part of the policy into permanent, cash value life insurance without furnishing evidence of insurability.  Original Age Conversion - Final conversion date is the fifth policy anniversary Attained Age Conversion - Final conversion date is age 30 or the tenth policy anniversary, whichever is later.

Increasing Premium Term (IPT) offers temporary life insurance protection at an affordable initial premium. IPT is guaranteed renewable through the contract expiry age and includes a conversion privilege that is available until age 70. The coverage it provides could help families and business owners safeguard their financial futures.

Highlights

• Pure life insurance protection
• A death benefit that is, in most instances, free from federal income tax.
• An initial premium that may be considerably lower than a comparable permanent plan.
• Guaranteed renewable coverage through the contract's expiry date.
• The privilege to convert to a permanent policy that builds a cash value.
• A Conversion Credit that's applied to the new policy's first-year premium
• The financial strength of New York Life.

The Uses of IPT

Temporary Need for Protection - When coverage is needed for a relatively short period of time, 5YT can be ideal. A common use is when a mortgage or student loan is taken.

Limited Funds - In situations where life insurance is essential but dollars are scarce, IPT could serve as a stop-gp. Young people starting their careers can choose IPT, then convert to a permanent plan as their finances improve.

Supplemental Insurance - IPT can be added as a rider to a permanent plan to help boost the death benefit.

Family Coverage - Optional riders such as Spouse and Children's Insurance and Children's Insurance can be added to the policy to extend coverage to family members.

Product Specifics

Whole Life Insurance

In addition to paying a death benefit, Whole Life is also a value builder. The cash values that accumulate in the policy can be accessed during your lifetime to fund vital needs such as a child's education or a new home. Whole Life is a flexible product that can be customized to meet your family's unique needs. It can provide a foundation upon which you can build your family's financial future.

Highlights:

• A guaranteed death benefit, generally free from federal income tax
• Tax-deferred cash value accumulation
• Generally, the ability to borrow from cash value on a tax-free basis
• A level premium that is guaranteed never to increase
• Permanent coverage that can never be canceled, provided that premiums are paid when due
• Eligibility to earn dividends as declared by the Company
• The ability to customize the plan be adding optional riders

The Uses of Whole Life

Traditional Insurance - Provides the financial security that gives families the peace of mind they deserve.

Mortgage Protection - Can help pay off mortgage and other outstanding debts in the event of a premature death.

Retirement Funding - Over the long term, if you no longer need the death benefit protection, accumulated cash value can be accessed through policy loans or surrenders to help supplement a retirement income.

Education Funding - Help pay for children's and grandchildren's education through policy loans, or as named beneficiaries.

Pension Maximization - A possible solution to the pension dilemma, whereby a "single-life" pension option is chosen and life insurance proceeds are earmarked to replace the lost pension benefit in the event of a pensioner's death.

Estate Planning Tool - Whole Life insurance can be an effective way of providing funds for estate expenses, and to help avoid the sale of assets and/or the need to borrow.

Charitable Giving - Bequesting life insurance is an effective way to make a significant donation to your favorite charity.

Product Specifics

NYLIAC VUL 2000 (Variable Universal Life)

Highlights:

• Flexible life insurance coverage that enables you to tailor your policy with flexible premium payments: You can pay more than your planned premium, less or, sometimes, no premium at all.
• Ability to increase or decrease coverage (increases subject to underwriting; decreases may be subject to surrender charges), add or delete riders and change options.
• Tax-deferred accumulation/tax-free transfers among a variety of Investment Divisions.
• Favorable tax advantages - the death benefit may be excluded from the gross income of the beneficiary's income for federal income tax purposes.
• Access to cash surrender value through loans and/or withdrawals.
• 27 Investment Divisions and a Fixed Account.
• 3-Year No Lapse Guarantee (minimum premium payment required).
• Available on a non-qualified basis or within a qualified profit-sharing plan.
• Quarterly statements provided summarizing important facts about your policy.
• Convenient access to policy information through a toll free "800" number, available 7 days a week, 24 hours a day.

Insurance Benefit Options

1. Option 1 - Provides a level life insurance benefit equal to the policy's face amount.
2. Option 2 - Provides a variable life insurance benefit that equals the sum of the policy's face amount and cash value.
3. Option 3 - Provides a variable life insurance benefit that varies and equals the sum of your policy's face amount plus the total premiums paid, less any partial withdrawals.

No matter what option you choose, a higher Life Insurance Benefit will apply if necessary to qualify as life insurance under Section 7702 of the Internal Revenue Code.

Fixed Account

Minimum guaranteed interest rate is 3%.

The current interest rate is set by NYLIAC and is subject to change daily. Interest rates will be set in advance and become effective no later than the next day. All amounts (including any applied to or transferred to the Fixed Account) receive the current interest rate. Different rates may apply to loaned and unloaned funds.

Investment Options

The NYLIAC Variable Universal Life 2000 policy offers a variety of investment options. You allocate your premium payments to achieve your financial objectives. You can select up to a maximum of 21 Investment Options, including the Fixed Account at one time.

Transfers

Transfers between Investment Divisions are easy and generally tax-free. There is no limit on the amount of money you can transfer between Investment Divisions. The minimum amount of a transfer from an Investment Division or the Fixed Account is the lesser of $500 or the total value of the Accumulation Unit in the Investment Division from which the transfer is being made. Limits apply to the maximum amount that can be transferred to and/or from the Fixed Account.

Loans

The maximum loan can never exceed 90% of the policy's cash surrender value (cash value less surrender charges, any additional contract charge in the first Policy Year, unpaid loan principal, and accrued loan interest). Other limits and conditions apply. Loans will reduce the policy's cash value and death benefit.

Partial Withdrawals

The minimum available for withdrawal is $500, which is deducted from the policy's cash surrender value (cash value less any surrender charges, any additional contract charge in the first Policy Year, unpaid loan and accrued loan interest). A fee equal to the lessor of $25 or 2% of the amount withdraw will apply. Withdrawals will reduce the policy's cash value and death benefit.

This page is maintained by Lisa Giger. Send questions and comments regarding this site to lgiger@deltastate.edu