Proceeds may be taxable. Premiums continue to be payable but the benefit amount is decreased by one-half. The acceleration of life insurance benefits offered under this certificate is intended to qualify for favorable tax treatment. If these benefits qualify for favorable tax treatment, they are excludable from your income and not subject to taxation. You are advised to consult with a qualified tax advisor and with social service agencies to determine how receipt of these benefits affects your tax status and eligibility for public assistance.
Premiums continue to be payable but the benefit amount is decreased by one-half.
Benefits will not be paid for death resulting from suicide within the first two years if New York Life can show that suicide was intended at the time of application. AARP Level Benefit Term is underwritten by New York Life Insurance Company, New York, NY 10010 on policy form AA-31. AARP membership is required for Program eligibility.