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LIFE INSURANCE Find the right life insurance policy for your needs
When planning for your family’s future, life insurance can help protect your loved ones if something happens to you. By choosing the right amount of coverage and type of life insurance policy, we’ll help you build a strategy based on your needs and long-term goals.
Why choose life insurance?
Life insurance provides financial protection for your loved ones if you’re no longer there to support them. It can help cover funeral costs, replace lost income, pay off debts like a mortgage or car loan, and fund future expenses. Whether you’re starting a family, buying a home, or planning the unexpected, life insurance coverage gives you peace of mind knowing those you care about will be financially secure.
How does life insurance work?
In exchange for regular payments (premiums), you get lasting protection through a guaranteed payout to your loved ones when you pass. You have the flexibility to choose a life insurance policy that fits your life, goals, and budget.
Protect your loved ones
A guaranteed death benefit ensures your family is financially supported if you pass away. Term life insurance offers affordable, time-limited protection.
Stay flexible as life changes
Universal life insurance offers long-term coverage with adjustable payments—so you can adapt your policy as your needs evolve.
Access value while you re living²
Some permanent life insurance policies include cash value you can use during your lifetime—for emergencies, opportunities, or major goals.
Build long-term financial strength
Accumulation-focused life insurance policies can support bigger goals, like retirement, while still protecting your family.
Compare different types of life insurance
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Gradually increase after a certain period |
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Always the same amount |
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Can be adjusted |
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In some cases |
Guaranteed minimum interest credited |
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Can be adjusted |
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In most cases (market risk) |
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Get started with life insurance
A New York Life financial professional can help you understand your options and find the right coverage for your needs.
Common questions about life insurance coverage
Life insurance is a policy (or, a contract between you and an insurance company) that provides financial protection for your family. If you pass away, your policy will pay cash (death benefit) to your loved ones. Many families use this money to cover funeral costs, make up for lost income, or build wealth by leaving money for the next generation. Working with a New York Life agent, you can choose between a temporary option like term life insurance or something permanent like whole life insurance. We also offer universal life insurance, which has some flexibility in terms of the timing and amount of premiums paid, and variable universal life, which gives you the option to invest in the markets.
No matter where you are today, a life insurance plan is a valuable tool to help protect what's important to you, now and in the future. All life insurance products, including term life insurance, provide a cash payment (death benefit) that helps to support your family financially if you pass away. Long-term options such as universal life and variable universal life insurance also have cash value that you can use during your lifetime for things like a down payment on a house or supplemental retirement income. (Accessing the cash value will reduce the available cash surrender value and death benefit.) With permanent whole life insurance, the cash value is guaranteed to grow over time, helping you to also build wealth for future generations. Connect with an agent to discuss the best life insurance coverage for you.
The right amount of life insurance coverage for you may depend on many factors, including your budget, your family situation, your needs, and your goals for the future. Connect with an agent who can help you determine the most important considerations for you, along with possible solutions.
It can be a nice benefit to have life insurance coverage that’s offered through, and possibly funded by, your workplace. The downside is that your life insurance ends if you leave your job. You may also have fewer coverage options from which to choose. When you buy individual life insurance (either to replace employer-sponsored life insurance or in addition to it) you hold onto that policy for as long as you continue making payments. Connect with an agent to learn more about individual life insurance options.
Buying a life insurance policy helps ensure your family’s financial security if you pass away. It can cover expenses like debt, living costs, college tuition, medical bills, and final expenses. The death benefit of a life insurance policy is not considered an asset, but some policies have a cash value, which is considered an asset. The cost of life insurance is based on several factors: your age, gender, health, lifestyle, and occupation. Your financial professional can help find a solution that covers your needs at a price that suits your wallet.
Learn more about life insurance
New York Life Variable Universal Life Accumulator II and Market Wealth Plus variable universal life are sold only by prospectus. Ask your registered representative for a policy prospectus containing more complete information about New York Life Variable Universal Life Accumulator II and Market Wealth Plus including investment objectives, strategies, risks, charges and expenses. Please read the prospectus carefully before investing. Variable universal life insurance involves fluctuating returns and unit values; investment losses are possible.
1Guarantees are based on the claims paying ability of the issuer.
2Accessing the cash value will reduce the available cash surrender value and the death benefit.
The Oregon Policy Form Number for New York Life Whole Life and Secure Wealth Plus is ICC18217-50P (4/18). The Oregon Policy Form Number for Market Wealth Plus is ICC22-322-32P.