Walker, Guy R - New York Life Insurance Company

/Home/California Insurance/Central Coast California - Insurance/Santa Barbara County, CA - Insurance/Santa Ynez, CA - Insurance/Santa Ynez, CA - Life Insurance

Walker, Guy R - New York Life Insurance Company
(805) 693-1773
3681 Sagunto St, Santa Ynez, CA 93460

Not sure where the economy is going? Exhausted by the ups and downs of an erratic stock market? Trying to decide which life insurance offers the best security in these changeable economic times?

Stock market highs. Talk of a recession.
The economy is lurching through uncharted terrain. Which life insurance is the right life insurance to provide financial security in this uncertain economy?

Here are three points to ponder:


1. If you own an equity-based product, such as variable universal life insurance (VUL), meet with your NYLIFE Securities Registered Representative to review the cash value account mix and adjust it if necessary. (Note: you have the option to park funds in a fixed-return account until the economy settles down.)

2. Rethink term life insurance. Many financial professionals believe that term life insurance has a number of shortcomings when purchased to meet long-term needs. Chris Blunt, chief operating officer of life and annuity products at New York Life Insurance Company, compares term life insurance to an adjustable-rate mortgage (ARM). “People buy ARMs because they seem cheap in the beginning,” Blunt told BusinessWeek, “which is the same reason people buy term insurance.” 1

3. Consider whole life as a safe, stable option. “Whole life can actually end up being the better value in the long run,” says Blunt, “because whole life gives a cash value, which could be tapped” to cover living expenses in an emergency.

Whole life insurance provides rock-solid simplicity and built-in guarantees. Its guaranteed level death benefit may replace the income of breadwinners who die prematurely. Its cash value 3 provides funds for first home down payments, college tuitions, and retirement income. Whole life insurance has a well-deserved reputation for reliability and dependability.

Is whole life insurance the right life insurance for these uncertain times? It might be, especially if you need coverage that offers:

Lifelong insurance protection. Unlike with term life insurance, your coverage will not expire. Whole life is a permanent life insurance policy. It is designed to provide coverage for your entire life. As long as all required premiums are paid, coverage will not expire in older years…making it an ideal long-range planning tool.

Fixed, level premiums for life. Your premium remains constant and can never be increased. Guaranteed! Plus, under a number of policy options, it is generally possible to select premiums for a limited period, such as to age 65. Finally, you have the option at any time to stop paying premiums and use the cash value to purchase a reduced amount of paid-up life insurance coverage.

Fixed, level death benefit. The death benefit is selected at issue and will not decline in later years. As long as the policy remains in force and there are no loans against the policy, the death benefit will be paid—either as a death claim or, if the insured is still living, at policy maturity, when the policy endows for its full face amount. In this respect, the policy always pays—guaranteed. At the same time, with policy dividends, the death benefit may actually increase over time2.

Guaranteed cash value growth… without risk or speculation. The cash value in a whole life policy grows at a steady, guaranteed rate. The insurer—not you—bears all the investment risks.

Cash Value Loan Provision.The cash value within a whole life insurance policy can be a valuable source of funds for such items as a house down payment or college funding. You can borrow the cash value at any time.3 This loan is not dependent upon the approval of a financial institution’s loan officer, and is not subject to a strict repayment schedule.

Which life insurance policy is best during these times of an uncertain stock market and talk of recession? That’s something only you can decide.

Talk to your New York Life agent about the choices available to you, including whether a cash value policy such as whole life insurance has a place in your life insurance policy portfolio.
© 2009 New York Life Insurance Company. All rights reserved.