Life Insurance
 "I was particularly impressed when Bernard Zweig told me that a product he was selling was not something I really needed. You can't ask for more honesty than that!"
Bernard Kabak, Attorney at Law¹
Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance may be an appropriate compliment to your financial portfolio.
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You can use the articles on this page to learn more about the various types of life insurance that are available.
- Whole Life - Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.
- Term Life - Term Life policies provide coverage for a specific amount of time, such as 5, 10 or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
- Universal Life* - Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.
- Variable Universal Life# - Variable Universal Life combines the premium and death benefit flexibility of a Universal Life policy with investment opportunities. You can allocate your premium amongst a variety of professionally managed investment divisions plus a fixed account. Assets allocated to the investment divisions are subject to market risk and may lose value. Of course, with investment opportunities comes risk along with the potential for reward.
- Survivorship Life - Survivorship life insurance – available as whole life, universal life* or variable universal life# – covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.
* Issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.
# Securities offered through NYLIFE Securities LLC, a Licensed Insurance Agency, (member FINRA/SIPC).
¹The experience of the people described in this material may not be representative of the experiences of all of my clients. Furthermore, the experiences obtained by these people are not indicative of the future experiences that may be obtained by any of my clients.
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