LIFE INSURANCE


•Do I need life insurance?

•Do you have a mortgage?

•Do you have a child or children?

•Do you live a comfortable life?

 

If you answered yes to any of the above, you should consider purchasing life insurance to provide a safety net for your dependents.

 

What options do I have?

 

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 five years, 10 years, or 20 years. Low cost compared to other types of life insurance – premium is locked in throughout the term. Beneficiaries receive the payout if you pass away within the term. Once the term of the policy is complete, coverage terminates. There is no accumulation of cash value. 

 

UNIVERSAL LIFE 

Universal Life insurance is designed to offer customizable death benefit protection with non-guaranteed planned premiums and a non-guaranteed death benefit. Depending on the product selected and the amount of premium you pay, Universal Life insurance can allow you to keep your coverage as long as you need: to age 80, 90, 100 or longer. Because of the policy’s flexible and non-guaranteed nature, it is important to fund your policy properly and actively manage your policy to reflect changes in interest crediting rates and policy charges over the duration of your policy. This 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 charges fluctuate. 

 

VARIABLE UNIVERSAL LIFE 

Variable Universal Life Insurance combines the premium and death benefit flexibility of a universal life policy with investment opportunities. You may allocate your premium among a variety of professionally managed investment divisions plus a fixed account. Of course, with investment opportunities comes risk along with the potential for reward. 

     

 

Variable Universal Life is offered by prospectus through NYLIFE Securities LLC. (member FINRA/SIPC), and a Licensed Insurance Agency.