NYLIAC Protector¹ is a flexible Universal Life policy that provides permanent insurance protection. It’s designed for individuals and businessowners whose primary concern is competitively priced death benefit protection. It has lower insurance costs and policy expenses, and allows for lower premium payments. Lower cost insurance protection may be a good fit for business needs, especially when funding buy-sell agreements and key-person insurance to ensure business continuation.

In addition to business continuation strategies, NYLIAC Protector can be used for charitable giving, mortgage protection, and estate planning. It allows you to increase² or decrease coverage, add or delete benefits through riders, and cover your entire family under a single policy.

Term insurance provides the insurance protection you need at a reasonable cost, but the cost will likely increase when the term period ends. Whole Life insurance provides guaranteed level premiums and permanent coverage, but the premiums tend to be higher and can tie up valuable cash flow. In comparison, the flexibility of the NYLIAC Protector may make it a viable option to term and whole life insurance for individuals and businessowners.

NYLIAC Protector Universal Life Fact Sheet

WHAT IS IT?	NYLIAC PROTECTOR UNIVERSAL LIFE IS
	The NYLIAC Protector is a universal life policy designed to emphasize lower cost of insurance and lower policy expenses, allowing for lower premiums and a high level of death benefit protection. This policy is often a good permanent alternative to term insurance.
QUICK FACTS	A flexible permanent life insurance policy Lets you increase or decrease coverage, add or delete benefits2 Flexible premium payments3 Tax-deferred cash-value accumulation Annual statement summarizing important facts about your policy
A GOOD CHOICE WHEN	You need permanent protection with maximum emphasis on death benefit You want to protect your family and/or your business You’re interested in charitable giving, mortgage protection, and estate planning

NYLIAC Protector Universal Life in Action

Tina Olivera (41) needed to protect her family for the long term, but wanted to keep the cost as low as possible. Working with her New York Life agent, she looked at a variety of options before deciding that the NYLIAC Protector offered the best solution: low cost insurance that would accumulate cash value and protect her two children Mike (7) and Jennifer (10) for a lifetime. Tina purchased a $450,000 NYLIAC Protector policy.

Customize Your Policy

You can customize your NYLIAC Protector policy to meet your individual needs. Here is a selection of riders* or optional policy provisions you can add to your policy:

No Lapse Guarantee Rider⁴ ensures that if you fund the policy at the premium level required to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthly charges.

Other Covered Insured Rider provides level term insurance coverage on the insured, the insured's spouse, children and business partners.

Living Benefits Rider gives you as the policyowner access to a portion of the policy's eligible death benefit if you are diagnosed with a terminal illness and have a life expectancy of 12 months or less.

Monthly Deduction Waiver Rider exempts you from all monthly insurance, rider, and administrative charges against the policy cash value during times when the insured is totally disabled as defined in the rider.

Spouse's Paid-Up Insurance Purchase Option Rider allows an eligible applicant to use the life insurance benefit proceeds at the time of the insured's death to purchase a new single premium paid-up whole life insurance policy on the life of the insured's spouse, without providing evidence of insurability.

*Note that not all riders are available in all jurisdictions; some variations may exist. Some riders are available at no additional cost, while others may increase your premium payment.

¹Issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.

²Increased are subject to underwriting

³The 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 partial surrender are made, or if current interest rates or charges fluctuate.

⁴Failure to satisfy the Cumulative Required NLGR Monthly Premium test will cause the rider and the guarantee to become inactive and increase the potential that the policy may lapse for insufficient cash surrender value. At the end of the guarantee period, if only the required premium has been paid, the policy may lapse for insufficient cash surrender value.

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