Provide your family with a lump sum cash payment to help with housing and other living expenses,
bills you may leave behind or even education costs.
Features and Benefits
- Up to $150,000 in life insurance coverage
- Valuable protection you can keep until age 80
- No waiting period—coverage starts from the day your coverage takes effect
- Supplement an existing policy or use as your main source of coverage
No Medical Exam or Lab Work...Just Health Information
There’s no physical examination or medical tests required…acceptance is based on your answers
to three health questions along with other information you provide or give us permission to obtain.
Find Your Current Monthly Rates Here
Premiums above are the rates New York Life currently charges. Your initial premium is based on your age at issue: premiums increase as you enter each new five-year age band and will be based on the current rates at that time. Premiums are not guaranteed; however, your rates may change only if they are changed for all others in the same class of insureds. For issue ages 65-74, the maximum coverage about available is $100,000. Age bands end at ages 75-79. Residents of FL: Victor Verastegui is a licensed Florida agent for service to Florida residents.
New York Life does not anticipate paying dividends for this product.
* Includes all forms of tobacco and nicotine use within the last 12 months.
Will my benefit amount ever decrease?
Benefits are guaranteed not to decrease until insurance ends regardless of changes in your
age or health.
Premiums are arranged in five-year age bands and will increase as you enter each new band.
See rate chart above.
How long can I keep this life insurance?
This term insurance is yours to keep until you reach age 80. All we ask is that you pay your premiums on time and that your application contains no material misrepresentations about your medical history. This protection can be exchanged for permanent coverage without a medical exam any time until insurance ends at age 80. Rates will be based on your age at that time.
Are there any exclusions or limitations?
Benefits will not be paid for death from suicide in the first two years.*
Will I be required to have a medical exam?
No physical exam, lab work, or medical tests are required. Acceptance is based on your answers to the three health questions and other information you provide or give us permission to obtain. However, during the first two years, New York Life reserves the right to cancel your insurance if your Application contains material misrepresentations about your medical history. However, during the first two years, New York Life reserves the right to cancel your insurance if your Application contains material misrepresentations about your medical history.
What if I answer "yes" to a health question?
Answering “yes” does not automatically disqualify you from coverage. We may contact you to ask for more information or clarification of your answer. Most who apply are accepted.
Why do you need my Social Security Number?
New York Life requires your social security number to verify the individual we are insuring. This assists us in protecting the privacy of your information. Life insurance companies are also required to obtain a taxpayer identification number (which is your social security number) in the event that we release money to you that could be considered taxable.
What happens after I complete my application?
You will be contacted in about 7 to 14 business days regarding your application. If approved, a policy will be mailed to you.
How long does it take for coverage to begin, once my application is approved?
Coverage will take effect on the date shown in your policy – normally seven days after approval of your application. You’ll have full benefits from the day your coverage takes effect.
Can I keep my coverage if my health changes?
Once approved, changes in your health will not affect your coverage. Also, since it’s your own individual policy, you will remain covered if you change jobs or retire.
How does the 30-Day satisfaction guarantee work?
You'll receive a policy when coverage is approved. If you decide this coverage isn't for you, for any reason, you can return it within 30 days and receive a refund.
Why should I choose New York Life Insurance Company?
As one of the oldest and largest mutual life insurance companies in the United States, New York Life has been protecting generations of families for more than 170 years. New York Life has the highest possible ratings for financial strength currently awarded to any life insurer from the leading independent rating services: A.M. Best (A++) Highest Rating, Fitch (AAA) Highest Rating, Standard & Poor’s (AA+) Second-Highest Rating, Moody’s Investors Service (Aaa) Highest Rating. Ratings as of 6/1/16.
What is a mutual insurance company?
It’s a company that is not publicly traded and therefore has no shareholders. Instead, policyholders share in ownership of the company. All New York Life policyholders have the right to expect that our highest priority is to safeguard their interests.
Can I apply for more than $150,000 in coverage?
Yes. New York Life offers a range of coverage amounts and solutions to fit your individual life insurance needs. To discuss your needs, call 1-800-361-1741 Monday – Friday 8 a.m. to 10 p.m.,
or Saturday 9 a.m. to 5 p.m. Eastern Time. Or simply click here
to request a free consultation.