Term to Age 90 Life Insurance

As its name implies, Term to Age 90 is pure insurance protection guaranteed renewable each year until the policy owner reaches age 90. Generally a more affordable form of life insurance, term coverage provides pure insurance protection only. It does not accumulate cash value, nor is it eligible for dividends. The premiums for Term to Age 90 are guaranteed to remain level in years one through 10 of the policy. Beginning with the 11th year, premiums increase annually.

You may convert all or part of a Term to Age 90 policy into permanent, cash value insurance without providing evidence of insurability. Term to Age 90 can be appropriate when substantial coverage is needed for a relatively short period of time. If the insured were to die, insurance proceeds could be used to help pay a mortgage, fund a child’s education or ensure business continuation by helping to cover business expenses.

Term Life Insurance to Age 90¹

• Policy expires at age 90 and cannot be renewed
• Offers pure insurance protection
• It does not build cash value, nor is it eligible for dividends
• Minimum Face Amount $100,000
• Offered through NYLIFE Insurance company of Arizona, a New York Life subsidiary¹
• A death benefit that is in most cases, free from federal income tax
• The privilege to convert to a permanent policy that builds cash value

• There is a short-term need for protection: Term to Age 90 is often used to protect needs that last for a well-defined period, such as a loan. For business owners, it can be used to cover outstanding loans, shielding partners from financial hardship in the event of the loss of a business partner.
• There is a large insurance need, limited budget: Term to Age 90 can be the solution when protection is essential, but dollars are scarce. People in their 20s and 30s may purchase a Term to Age 90 policy and later convert it to a permanent plan. The conversion privilege guarantees their insurability at a later date — even if they become uninsurable.