Are you thinking of buying New York Life insurance? If you are thinking of acquiring the better life insurance, then New York Life it deserves a close look. Keep reading!
NYLIC (New York Life Insurance Company) It is ranked No. 3 among the largest life insurers in the United States.
7 Reasons to Buy with New York Life Life Insurance
1. Financial strength and track record
New York Life has been ensuring the financial future of individuals for more than 175 years and being a solution for many employers.
Should this convince you to choose them?
This track record and its great financial strength have given it an A ++ rating from the AM Best, which generates confidence as an insurer, but let’s see more reasons to choose it:
2. Customizable and modifiable term life coverage
New York Life It usually offers term hedges to cover amounts starting from $ 10,000.
But here come its great advantages:
- Has the coverage plan convertible premium tier. This plan allows you to convert the term of the policy annually and you can increase the term of the coverage by 10 or 20 years.
- You can start with low rate coverage and increase the amount of coverage if necessary with your option of annually convertible term coverage.
- Availability to convert the temporary policy to permanent coverage without the need for medical examinations.
- Insured death benefit without having to pay taxes for the benefit received.
3. Full coverage (They are also customizable)
If you are looking to combine life coverage products to acquire a greater number of benefits, then New York Life offers the following 2 full coverage options:
- Full life coverage: If you are thinking about your retirement, this option would be ideal, since it allows you to create a fund of tax-free cash that you can use in the future.
- Custom Full Life Coverage: This option also allows you to accumulate money for your retirement, but also has the flexibility of being able to adjust the time in which you want to pay your fees.
That is, you can choose to pay for a minimum of 5 years or more, simply keep in mind that if you are looking to accumulate capital with this coverage plan, you will want a longer term, since the longer the coverage term, the less the premium will be. to pay.
Something you should know is that their options for combining coverage plans usually vary in the amount of money they allow you to accumulate, as well as in death benefits.
4. Universal coverage
NYLIC offers you the following 3 universal life coverage options to guarantee the best death benefit to your loved ones:
- Universal Life Basic: Customize your insurance amount, your premiums and the term that you will be covered with this option, but also accumulate cash.
- Custom warranty: Ideal for those who want to purchase cash back or also protection against chronic conditions.
- Protection until 90: Covers up to $ 1,000,000 for those who need more than a permanent life coverage plan.
Other benefits of universal life coverages from New York Life are:
- Adjust the coverage and premium of your policy according to your needs.
- Modify the customization of your policy over time if your circumstances warrant it.
- Their universal plans provide tax-free death benefits.
5. Variable universal coverage (Increase your wealth!)
If, in addition to insuring those you love the most, you want to put your investor mentality into action in the insurance market, then this option of variable universal coverage may interest you.
- Increase your capital through investment.
- Get tax advantages for investing.
- Financial gains without paying taxes in case your situation warrants it.
- You can leave an inheritance of tax advantages through your variable universal life coverage plan.
6. Has financial advisers
In order for you to acquire a life policy with New York Life, it is necessary that you contact one of their insurance agents local.
But here comes the interesting part:
New York Life employs financial advisers to help you choose the coverage plan that best suits your needs and based on your current financial situation.
7. Has online tools to calculate your coverage needs
Calculate your coverage needs and your retirement savings with your online calculator.
Insurance New York Life phone
If you have a query or want to make your quote with New York Life, then you can call the phone number 1-800-225-5695 or + 1-212-576-6600 Monday through Friday from 9:00 AM – 7:00 PM.
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