Insurance

New York LifeCustom Whole Life

Whole Life ThatOffers More ThanJust Protection

The Company You Keep®

Whole Life insurance has always been away to build a foundation for tomorrowwhile ensuring what you most value today — your loved ones, your business,you new home — will still be financiallyprotected in the event of the unexpected.

■ Your premiumrates can nevergo up, for thelife of the policy.

■ You are guaran-teed tax-deferredcash valuegrowth.

■ Your life insur-ance can neverbe cancelled,even if yourhealth deterio-rates, so long asyou pay yourpremiums.

In addition, with a mutual company likeNew York Life, Whole Life entitles you toreceive company dividends, which mayprovide extra earnings.1

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the First Whole Life

Product that Lets You Set the Pace

Introducing

1 Dividends are based on the policy’s applicable dividend scale,which is neither guaranteed nor an estimate of future perform-ance. Although dividends cannot be guaranteed, New York Lifehas paid annual dividends to policyowners for over 150 suc-cessive years.

And there are important tax benefits, too:

■ The cash value of your policy builds tax-deferred. You pay no taxes annuallyon its growth.

■ Any death benefits paid to your lovedones are generally tax-free.

Plus, you can alwaysenjoy easy access toyour cash value viapolicy loans.2

The combination ofguaranteed deathbenefit protection,tax advantages and access to cash valuehas made WholeLife a financialmainstay for genera-tions. Now New York Life is proud tointroduce Custom Whole Life — a revolu-tionary, next-generation product that offersall the time-honored advantages of WholeLife, but goes one major step better:

Custom Whole Life lets you decide when

you want to stop paying premiums.3

2 Policy loans incur interest and decrease the death benefit andamount of cash available for payout by the amount of theunpaid loan plus interest.

3 In no case can the premium paying period be less than 5 yearsor can extend beyond age 75.

2

Traditionally, Whole Life insurance hasrequired that you either pay premiums forthe life of the policy — up to age 100 —or you can choose to compress your premiums over 10 years, 20 years, or toage 65. The disadvantage of the lifetimepayment method is that you are saddledwith paying premiums right throughretirement. Yet the limited number ofshorter-term payment plans may not fityour budget or timetable.

Custom Whole Life is the first Whole Lifeproduct that offers you the unique abilityto set your own premium payment sched-ule. In fact, it allows you to pick the exactyear you want your Whole Life policy to be “paid-up” — ending your premiumpayments.

Custom Whole Life allows you to:

■ Pay all your Whole Life premiums in aslittle as five years.

■ Pay-up your policy at any age youchoose, up to age 75. For a 30-year-old,that means the premium payment periodcan be from 5 to 45 years.

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Custom Whole Life May Help You

Reach Your Goals Faster

What’s more, CustomWhole Life is avail-able for anyone from birth to age 70,and should theentire death benefitno longer be need-ed, the policy valuesmay provide manyuses — from supple-mental retirementincome4 to helpingfund a child’s collegeeducation.

Keep in mind that even though your premi-ums end when you choose, your life insur-ance coverage continues for your lifetime.

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What Is a “Paid-Up”Whole Life Policy?

A Whole Life policy is “paid-up” when allrequired premium payments have beenmade. From that pointon, not only are premi-ums no longer requiredto keep your coveragein force, but your poli-cy’s value will continueto appreciate.

4 Policy loans incur interest and decrease the death benefit andamount of cash available for payout by the amount of theunpaid loan plus interest.

At first blush, being able to choose yourown paid-up policy date may not seemthat important. But consider these majoradvantages:

Freedom from Premiums Earlier

Custom Whole Life can eliminate yourpremiums in as little as five years. Youdecide when you want them to end.

No Premium Payments in Retirement

Not everyone retires at age 65 anymore.Custom Whole Life lets you time yourpremium payments to end before or atyour retirement if you wish, lighteningyour retirement expenses while potentiallyadding to your income after retirement.

Fits Your Financial Timetable

Whether you want to take a lifetime oronly a few years to pay up your policy (or someone else’s), with Custom WholeLife the pace is up to you. It conforms toyour life and goals, and may fit into anyfinancial plan.

Faster Policy Growth

A key benefit of Custom Whole Life is the ability to build up cash value faster.The more premium you pay, the fasterpolicy values grow.

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Why Is Being Able to

Set Your Own Premium

Schedule So Important?

Option to Access Policy Values

While Custom Whole Life should be purchased for the protection that traditionalwhole life insurance offers, it is specificallydesigned to maximize the benefits of payingup your policy earlier. This allows you tohave a lifetime of protection without theburden of having to pay premiums oncethe policy is paid-up.

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If your needs change and protectionbecomes less important to you after youhave finished paying premiums and thepolicy is paid-up, the policy can providean income stream through the use of policy values.5 If you want, we’ll automat-ically send you a check each month.

For Those Already Maximizing Their Annual Retirement Plan Contributions...

You may already be maximizing yourannual contribution limits on your 401(k)or other qualified plan contributions, yetwant more for retirement.6 You can paypremiums to a Custom Whole Life policyin addition to any qualified retirementplan, providing the potential for a morecomfortable retirement.7

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5 This policy can provide periodic income stream through the useof policy values. This income stream can be funded by: (1) onlycash withdrawals from any available paid-up insurance cash val-ues up to the amount of premiums paid; (2) only a policy loanfrom the policy’s cash surrender value; or (3) a combination ofboth. Since these policy values include dividends, which are notguaranteed, the income stream funded by these policy values isnot guaranteed. Loans against your policy accrue interest anddecrease the death benefit and cash value by the amount of theoutstanding loan and interest.

6 Policy loans incur interest and decrease the death benefit andamount of cash available for payout by the amount of theunpaid loan plus interest.

7 Neither New York Life nor any of its agents are in the businessof offering tax or legal advice. You should consult with yourown professional tax advisers to determine the appropriate-ness of any course of action.

Custom Whole Life’s

Other Major Advantage —

Supplemental Income

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8 Neither New York Life nor any of its agents are in the businessof offering tax or legal advice. You should consult with yourown professional tax advisers to determine the appropriate-ness of any course of action.

9 Policy loans incur interest and decrease the death benefit andamount of cash available for payout by the amount of theunpaid loan plus interest.

Children and/or Grandchildren —Including Education Funding

A gift of a Custom Whole Life policy toyour children or grandchildren reducesthe size of your estate8 while providingthem with an asset that is guaranteed togrow over time — potentially paying forcollege or even for a first home.

Business Owners and Executives

With its tax-deferred cash value growthpotential and customizable premiumschedule, Custom Whole Life may be suitable for the small business owner assupplemental retirement income.9 It canalso be used for employee incentive anddeferred compensation plans. Employerscan time policies to reach paid-up statusand access to the policy values precisely ateach key employee’s retirement, or before.

In addition to the life insurance protectionand potential income stream you’ll enjoywith Custom Whole Life, you have a largeselection of specialized riders that can further enhance your protection and customize your policy.10 Speak to your New York Life agent to find out which riders are available in your jurisdiction,and which ones can best accommodateyour needs and financial situation.

Accidental Death Benefit — ADB provides

an additional death benefit equal to the

face amount of the policy if the insured

dies as a result of an accident.

Dividend Option Term11 — Helps make moreinsurance coverage available at a lowercost. DOT combines a decreasing termrider with the paid-up additions dividendoption. As the paid-up additions increase,the term insurance decreases to provide a level death benefit. It can be convertedto a Custom Whole Life, Whole Life, orModified Premium Whole Life policy withinthe first 10 policy years. Your New YorkLife agent can tell you how this rider canhelp you.

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Your Policy

Even More with These Riders

10 Policy loans incur interest and decrease the death benefit andamount of cash available for payout by the amount of theunpaid loan plus interest.

11 The premium for the DOT rider is paid out of pocket for thefirst five policy years. In years 6 and subsequent the availableinternal dividend values are used to pay the DOT rider premi-ums, therefore, dividend values will decrease and the policyvalues available to be accessed or to fund an income streamwill also decrease.

Customize

Living Benefits Rider — LBR gives youaccess to a portion of the policy’s eligibledeath benefit should you ever be diagnosedwith a terminal illness with a life expectan-cy of 12 months or less to meet medicalexpenses or pay for home care. (Variousstates have established different lifeexpectancy periods once terminal illness is diagnosed.)

Option to Purchase Paid-up Additions —

OPP is an economical way to increase your death benefit protection, or build more cash value, increasing the amount ofmoney available for retirement. This may bevaluable if you’ve funded existing retirementplans to the annual contribution limits.

Upromise Rider — If you have children orgrandchildren, you’re probably familiarwith Upromise. This rider provides for theone-time deposit of the Upromise contribu-tion amount of $25 for each Custom WholeLife policy into the Upromise CollegeSavings Account 12 that you designate.

Waiver of Premium — WP can give youpeace of mind by assuring that your cover-age is continued, even if you’re unable topay premiums due to a disability. With thisrider, New York Life will waive all premi-ums should the insured become totally disabled, as explained in the rider.

12 All contributions will be held in a brokerage account withUpromise Investments, Inc., Member NASD/SIPC and a whol-ly owned subsidiary of Upromise, Inc., neither of which areaffiliated with New York Life or its subsidiaries.

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Whole Life —

on Your Terms

Custom Whole Life is a next-generationproduct designed to give you greater choice, control and performance than other Whole Life policies. Before youchoose other life insurance, make sure tospeak with your New York Life agent about the many advantages of CustomWhole Life. Our knowledgeable agents will be happy to show you how to designa Custom Whole Life policy that meetsyour needs.

Since 1845, New York Life InsuranceCompany has been providing quality insurance products to individuals, families,and businesses. Our financial strength isaffirmed by the four major independent ratings agencies, which consistently awardNew York Life high ratings:

A.M. Best A++ Superior

Standard & Poor’s AA+ Very Strong

Moody’s Aaa Exceptional

Fitch AAA ExceptionallyStrong

Source: Third-Party Rating Reports (as of 1/1/07).

For more than 160 years, we have conduct-ed our business around the central values offinancial strength, integrity, and humanity —and have remained committed to being amutual company, owned solely by our poli-cyholders. This means that, regardless of theeconomy, our focus is fixed on just oneobjective: meeting the needs of our cus-tomers, now and far into the future. Talk toyour New York Life agent today and findout why we are The Company You Keep®.

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Just Another Innovation from

New York Life — The Company

You Keep®

New York Life Insurance Company

New York Life Insurance and AnnuityCorporation (A Delaware Corporation)

51 Madison AvenueNew York, NY 10010

www.newyorklife.com

The Company You Keep®

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