Also, you can qualify to earn annual dividends with a New York Life policy. You can even take the option to borrow against your policy’s cash value. You can also accrue tax-deferred cash value with a New York Life whole insurance policy. There is a range of products available to suit your budget, lifestyle, wants, and needs.įor example, the company offers a guaranteed death benefit. New York Life provides superior whole life insurance benefits. In that case, the minimum payout is $100,000. However, your insurer may provide a larger payout if you’re classified as preferred II or higher. The minimum payout for juveniles is also $50,000. With a custom whole life policy, the minimum benefit is $50,000. Minimum Payout Benefitsįor a basic whole life policy, the minimum death benefit is $25,000. Your classification will affect your premium as well as the minimum benefit payout. The insurer will select a class based on your background, health and lifestyle.
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