Your agent can provide more specific information. A charge is applied when the rider is exercised. There are maximum benefit levels set for this rider. *****Various states have established different life expectancy periods once a terminal illness is diagnosed. This is a life insurance rider providing for an accelerated payment of the base policy face amount in the event that you are certified chronically ill as described in the policy. You should consult your tax advisor regarding your circumstances. Receipt of accelerated death benefits may affect eligibility for public assistance programs and may have income tax consequences. ****The Chronic Care Rider is not available in California. The benefits of this rider depend in part on when disability occurs in relation to age 60. In Maryland and Montana, this rider is not available until the insured has reached his or her fifth birthday. ***This rider is available to insureds ages 0 through 59. ![]() **Optional rider available at an additional charge. The policy form number for the New York Life Whole Life series of products is ICC18217-50P (4/18), Accidental Death Benefit: ICC17217-200R Disability Waiver of Premium: ICC17217-225R Living Benefits: ICC17217-495R Chronic Care Rider: ICC17217-485R Option to Purchase Paid-Up Additions:ICC17217-330R SMRU: 1798027 *Accessing the cash value of the policy will reduce the available cash surrender value and death benefit. Please speak to your New York Life agent for complete information.ġ Guarantees of the policy are based on the claims-paying ability of the issuer.Ģ Accessing the cash value of a Whole Life policy will reduce the available cash surrender value and the death benefit. Additional limitations and conditions may apply. Not all riders are available in every state, and some states vary the terms of certain riders. Rider features may differ based on the insurance product that they are purchased with. The rider involves a monthly charge until it expires. The rider terminates automatically at age 70. Accidental Death Benefit Offers an additional death benefit for your loved ones if the death was caused by an accident.This rider involves a charge if the rider is exercised.***** If you are terminally ill, you can use a portion of your death benefit to pay for treatment or care with this option. It’s available on most whole life and custom whole life policies at issue.1 This rider is available for an additional cost, and it must be elected when the policy is issued.**** Protects policyholders from the financial hardships of chronic care by providing tax-free access to a portion of their base policy benefits should they become chronically ill. ![]() OPP premiums are subject to an expense charge at the time of payment. It’s a valuable way to increase your death benefit protection and build more cash value. With the purchase of this rider, New York Life will waive premiums should the insured become totally disabled, as explained in the policy.***Īllows you to contribute more to your policy when it’s convenient for you. Riders you can use to customize your whole life insurance policy include:
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