🕷️ Crawler Inspector

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Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 58 (from laksa083)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa058.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.newyorklife.com/articles/six-reasons-to-buy-life-insurance\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.newyorklife.com/articles/six-reasons-to-buy-life-insurance\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.newyorklife.com\/articles\/six-reasons-to-buy-life-insurance","crawl_time":1776327014,"first_indexed_time":1549297582,"http_code":200,"src_unparsed":"com,newyorklife!www,\/articles\/six-reasons-to-buy-life-insurance s443","src_root_hash":"15400406160658717658","history_drop_reason":null,"meta_title":"The Benefits of Life Insurance & Why to Get It | New York Life","meta_descriptions":["Understand the importance of life insurance and why it's essential. Learn the benefits and reasons you should consider purchasing it."],"attrs_boilerpipe_text":"10 reasons why you should consider buying life insurance\nReasons to buy insurance are different for everyone. But at its core, the decision to purchase life insurance is about providing financial security for your loved ones.  Learn the key benefits of life insurance and why it is important.\nWhy is life insurance important?\nLife insurance protects your loved ones from the potentially devastating financial impact of losing you. It provides your beneficiaries with a lump-sum payment upon your death, offering immediate financial security to help pay off debts, handle living expenses and cover medical or final expenses. This immediate financial support helps ensure your family isn't burdened financially during an already difficult time.\nYour life insurance policy delivers a specified amount of money directly to your beneficiaries, and that death benefit is typically not subject to federal income taxes if you own the policy and are the insured. For instance, a $500,000 policy provides your beneficiaries with a full $500,000 death benefit, helping them maintain their standard of living.\n10 important benefits of life insurance\nLife insurance offers protection and so much more. Certain policies can help cover expenses and supplement long-term goals like retirement or pay for your children’s college education. Whether you’re planning for your future living needs or want to prepare for the unexpected, here’s how life insurance can support your financial well-being. \n1. Guaranteed protection for those who depend on you\nIf your family, your business, or others rely on your income, the life insurance benefit of a\nwhole life policy\nensures they have a financial safety net. When you pass away, your loved ones receive a guaranteed, lump-sum payment (provided premiums are paid and there are no outstanding loans), offering vital protection when they need it most.  Guarantees are based on the claims-paying ability of the issuer.\n2. Help your family pay for immediate costs\nA life insurance death benefit can immediately help cover expenses such as funeral and burial costs, outstanding medical bills, and\ndebts you leave behind\n. This can significantly ease the immediate financial strain on your family during an emotionally challenging period.\n3. Replace lost income\nConsider what would happen if your family suddenly lost your income. Life insurance provides your beneficiaries with funds to help:\nPay the\nmortgage\nor rent\nAfford childcare, healthcare, and household expenses\nCover tuition or college costs\nEliminate household or personal debts\nPreserve or continue a family business\n4. Tax-free benefit to beneficiaries\nYour\nbeneficiaries\nreceive the full benefit from your life insurance policy, which is generally federal income tax-free. This means the money you've allocated reaches your loved ones without tax deductions, ensuring they receive the maximum financial benefit.\n5. Cash value to help meet financial goals\nWhole life insurance policies build guaranteed\ncash value\nas you pay your premiums. This cash value grows tax-deferred and as protection needs change in the future can be accessed to:\nSupplement retirement income\nFund education for children or grandchildren\nPay off a mortgage or debts\nProtect existing assets\nEstablish or contribute to an emergency fund\nAccessing the cash value will decrease the death benefit and the cash surrender value.\n6. Potential dividends to use how you’d like\nWhen you purchase whole life insurance from New York Life, you become eligible to receive potential\ndividends\n.\n1\nAlthough dividends aren't guaranteed, when awarded, you have flexibility to:\nReceive dividends in cash\nUse dividends to offset your premiums\nBuy additional paid-up insurance, increasing coverage and cash value\nReinvest the dividends in an interest-bearing account to maximize growth over time.\n7. Optional riders to fit your needs\nLife insurance can be tailored to your specific needs through optional\nriders\navailable for additional cost, which allow you to:\nPurchase extra coverage without additional medical underwriting\nWaive premium payments if you become disabled\nAccess your policy’s face amount for chronic illness expenses\nPurchase additional coverage for your children\n8. Business continuity and protection\nLife insurance can help businesses survive the\nloss of a key employee\nor owner by funding buy-sell agreements and\nbusiness continuity plans\n.\n9. Estate planning and wealth transfer\nLife insurance can efficiently facilitate the transfer of wealth by providing funds to cover estate taxes and helping heirs receive their intended \ninheritance\nintact.\n10. Charitable giving\nYou can designate a\ncharitable organization as a beneficiary\nof your life insurance, allowing you to leave a lasting legacy and contribute meaningfully to causes you care about.\nShould I buy life insurance?\nLife insurance is essential if you have people who depend on you financially or if you want to ensure your financial obligations are covered in the event of your passing. It provides immediate financial relief and long-term financial security for those you care about most, offering invaluable peace of mind.\n1\nWhile dividends are not guaranteed, eligible policy owners have received them for more than 160 years. Some policies are participating but are not expected to receive dividends.\nNew York Life Insurance Company is the issuer of New York Life Whole Life. In most jurisdictions, the Whole Life policy form number is ICC18217-50P (4\/18). State variations may apply.  SMRU # 5013936","attrs_markdown":"[![New York Life Insurance Company](https:\/\/assets.newyorklife.com\/is\/content\/newyorklife\/nyl-logo-1)](https:\/\/www.newyorklife.com\/)\n\n### Search\n- What we offer\n  drawer focus\n  \n  ![Back](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-caret-left--cool-black.svg)\n  \n  ![Close](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-close--cool-black.svg)\n  \n  - Insurance\n    - [Term life insurance Temporary protection, at a lower cost than other options, that can be converted to permanent](https:\/\/www.newyorklife.com\/products\/insurance\/term-life \"Learn about term life insurance\")\n    - [Whole life insurance Permanent policies with a guaranteed death benefit and guaranteed cash value that grows over time](https:\/\/www.newyorklife.com\/products\/insurance\/whole-life \"Learn about whole life insurance\")\n    - [Universal life insurance Long-term coverage that’s highly customizable to your needs and budget](https:\/\/www.newyorklife.com\/products\/insurance\/universal-life \"Learn about universal life insurance\")\n    - [Variable universal life insurance Long-term coverage protection with the ability to invest your policy’s cash value in the market](https:\/\/www.newyorklife.com\/products\/insurance\/variable-universal-life \"Learn about variable universal life insurance\")\n    - [Long-term care insurance Helps to pay for someone to help you with everyday tasks, if you ever need it](https:\/\/www.newyorklife.com\/products\/insurance\/long-term-care-insurance \"Learn about long-term care insurance\")\n    - [Individual disability insurance Helps to replace lost income if sickness or injury prevent you from working](https:\/\/www.newyorklife.com\/products\/insurance\/individual-disability-insurance \"Learn about individual disability insurance\")\n    \n    [All insurance](https:\/\/www.newyorklife.com\/products\/insurance \"See all insurance options\")\n  - Investments\n    - [Annuities Stable, long-term options that eventually provide an income stream](https:\/\/www.newyorklife.com\/products\/investments\/annuities \"Learn about annuities\")\n    - [Mutual funds Professionally managed investments with potential market gains](https:\/\/www.newyorklife.com\/products\/investments\/mutual-funds \"Learn about mutual funds\")\n    - [Exchange traded funds (ETFs) Bundled investments with low fees that you can quickly buy or sell](https:\/\/www.newyorklife.com\/products\/investments\/exchange-traded-funds \"Learn about exchange traded funds (ETFs)\")\n    - [529 college savings plans Investments designed to help you pay for college or other education expenses](https:\/\/www.newyorklife.com\/products\/investments\/college-savings-529-plans \"Learn about 529 college savings plans\")\n    \n    [All investments](https:\/\/www.newyorklife.com\/products\/investments \"See all investment options\")\n  - Retirement\n    - [Immediate income annuities Start to receive income now, for as long as you need it, with potential for additional earnings](https:\/\/www.newyorklife.com\/products\/retirement\/immediate-income-annuities \"Learn about immediate income annuities\")\n    - [Deferred income annuities Receive income for life and larger payouts by delaying them for at least a few years](https:\/\/www.newyorklife.com\/products\/retirement\/deferred-income-annuities \"Learn about deferred income annuities\")\n    \n    [All retirement options](https:\/\/www.newyorklife.com\/products\/retirement \" See all retirement options\")\n  - Advisory services\n    - [Wealth management Expertise and guidance to create your investment strategy and help you plan for future financial needs](https:\/\/www.newyorklife.com\/products\/advisory-services\/wealth-management \"Learn about wealth management\")\n    - [Estate planning Guidance to help identify potential needs and set you up with an estate plan that can protect your legacy](https:\/\/www.newyorklife.com\/products\/advisory-services\/estate-planning \"Learn about estate planning\")\n    - [Small business Insurance for employees, executives, or business owners, plus many other options to help a small business thrive](https:\/\/www.newyorklife.com\/products\/advisory-services\/small-business-services \"Learn about small business services\")\n    \n    [All advisory services](https:\/\/www.newyorklife.com\/products\/advisory-services \"See all advisory services\")\n  \n  #### Learn about your life insurance options\n  We can help you create a temporary, long-term, or permanent life insurance solution that meets your needs and your budget\n  \n  [Life insurance ![](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-cta-arrow--cool-black.svg)](https:\/\/www.newyorklife.com\/products\/insurance\/life-insurance \"Learn more about Life insurance \")\n- How we help\n  drawer focus\n  \n  ![Back](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-caret-left--cool-black.svg)\n  \n  ![Close](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-close--cool-black.svg)\n  \n  - Personalized guidance\n    - [Locate an agent near you Search by zip code, areas of expertise, community focus, and\/or language(s) spoken](https:\/\/www.newyorklife.com\/agents\/find-an-agent\/locator \"Find a New York Life agent\")\n    - [Let us connect you with someone Submit a request for an agent to contact you about your specific needs](https:\/\/www.newyorklife.com\/leads-agents\/contact-a-financial-specialist \"Get connected with a New York Life agent\")\n    \n    [Why work with an agent?](https:\/\/www.newyorklife.com\/agents \"See how we can help\")\n  - Financial education and tools\n    - [Life insurance 101 Everything you need to know about finding the right type and amount of life insurance for you](https:\/\/www.newyorklife.com\/resources\/life-insurance-101 \"Learn about life insurance\")\n    - [Prepare for life Learn how our custom solutions can help you through many different phases of your life](https:\/\/www.newyorklife.com\/resources\/prepare-for-life \"Prepare for different stages of life\")\n    - [Calculators and tools Get a better sense of your needs and goals to simplify the process of getting started](https:\/\/www.newyorklife.com\/resources\/financial-calculators \"See calculators and tools\")\n    - [Glossary Frequently used insurance terms, annuity definitions, and other financial terminology that you might encounter](https:\/\/www.newyorklife.com\/resources\/glossary \"See the glossary\")\n    \n    [All articles and insights](https:\/\/www.newyorklife.com\/resources \"See all articles and insights\")\n  \n  #### Find the right agent for you\n  You can search for a New York Life agent in your area who has the expertise to address your needs\n  \n  [Start your search ![](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-cta-arrow--cool-black.svg)](https:\/\/www.newyorklife.com\/agents\/find-an-agent\/locator \"Search for a New York Life agent\")\n- Who we are\n  drawer focus\n  \n  ![Back](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-caret-left--cool-black.svg)\n  \n  ![Close](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-close--cool-black.svg)\n  \n  - About New York Life\n    - [Our financial strength See why New York Life consistently earns the highest financial ratings](https:\/\/www.newyorklife.com\/report-to-policy-owners \"Learn about our financial strength \")\n    - [Corporate responsibility We’re committed to doing what’s right for our customers and our communities](https:\/\/www.newyorklife.com\/about\/corporate-social-responsibility \"Learn about our corporate social responsibility\")\n    - [Game-changing partnerships We’re teaming up with sports leagues to create connection and opportunity](https:\/\/www.newyorklife.com\/about\/partnerships \"Learn about our sports partnerships\")\n    \n    [About New York Life](https:\/\/www.newyorklife.com\/about \"Learn about New York Life\")\n  - The New York Life Foundation\n    - [Our purpose Making a difference at a local and national level through charitable giving](https:\/\/www.newyorklife.com\/foundation \"Learn about the foundation’s purpose\")\n    - [Grants Financial support for bereavement, education, workplace, and local initiatives](https:\/\/www.newyorklife.com\/foundation\/grant-opportunities \"Learn about foundation grants\")\n    - [Resources Bereavement support and information for families, schools, and communities](https:\/\/www.newyorklife.com\/foundation\/bereavement-support \"Learn about foundation resources\")\n    - [Taking action See how our outreach has affected communities and young people across the country](https:\/\/www.newyorklife.com\/foundation\/taking-action \"See who the foundation has helped\")\n    \n    [New York Life Foundation overview](https:\/\/www.newyorklife.com\/foundation \"Get an overview of the New York Life Foundation\")\n  - Careers\n    - [Financial professional careers Increase your income potential while helping families protect their own financial futures](https:\/\/www.newyorklife.com\/careers\/financial-professionals \"Learn about financial professional careers\")\n    - [Corporate careers Experience personal and professional growth at a purpose-driven company](https:\/\/www.newyorklife.com\/careers\/corporate \"Learn about corporate careers\")\n    - [Our culture See what it’s like to be part of our diverse and welcoming workplace](https:\/\/www.newyorklife.com\/careers\/our-culture \"Learn about our culture\")\n    \n    [All careers](https:\/\/www.newyorklife.com\/careers \"See all New York Life career information \")\n  - Newsroom\n    - [Awards See why we’ve been recognized by many organizations as an industry leader](https:\/\/www.newyorklife.com\/newsroom\/featured-awards \"Learn about the awards we’ve received\")\n    - [Press resources Press releases, media contacts, leadership bios, and news articles](https:\/\/www.newyorklife.com\/newsroom\/press-resources \"See resources for members of the press\")\n    \n    [Newsroom home](https:\/\/www.newyorklife.com\/newsroom \"See all newsroom topics\")\n  \n  #### Corporate Responsibility\n  Read about our Corporate Responsibility priorities\n  \n  [See why ![](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-cta-arrow--cool-black.svg)](https:\/\/www.newyorklife.com\/about\/corporate-social-responsibility \"Learn about our priorities\")\n- Search\n  ### Search\n\n- [Contact Us](https:\/\/www.newyorklife.com\/contact-us \"Contact Us\")\n- [Claims](https:\/\/www.newyorklife.com\/claims \"Claims\")\n- My Account\n  ## Log in\n  If you haven’t registered your account for online access yet, [register now](https:\/\/www.mynyl.newyorklife.com\/VSCRegWebApp\/registration\/full \"Register Now\").\n  \n  ![NYL Mobile App with Android and iOS Store Badges](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/Rebrand-App-CTA-Mobile-w327-h192) ![NYL Mobile App with Android and iOS Store Badges](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/Rebrand-App-CTA-Tablet-w720-h162)  ![NYL Mobile App with QR Code](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/Rebrand-App-CTA-Desktop-Drawer-w481-h162)\n  \n  Other Products\n  \n  - [NYLIFE Securities](https:\/\/investor.wealthscape.com\/NYLIFEsecurities\/investor-index.html?login \"NYLIFE Securities\")\n  - [MainStay Mutual Funds](https:\/\/secureaccountview.com\/BFWeb\/clients\/nylifunds\/index \"MainStay Mutual Funds\")\n  - [Retirement Plan Services](https:\/\/www.newyorklifeinvestments.com\/info\/account \"Retirement Plan Services\")\n  \n  Quick Links\n  \n  - [Make a payment](https:\/\/www.guestpay.newyorklife.com\/mynyl-guest-payments\/ \"Make a payment\")\n  - [Service forms](https:\/\/www.newyorklife.com\/my-account\/service-forms-selection \"Service forms\")\n  - [Account services](https:\/\/www.newyorklife.com\/resources\/client-forms-and-resources\/how-to-videos \"Account services\")\n  - [Download our app](http:\/\/www.mynyl.com\/mobile \"Download our app\")\n\n[Get Started](https:\/\/www.newyorklife.com\/leads-agents\/get-started-now \"Connect with a New York Life agent\")\n\n1. [Articles](https:\/\/www.newyorklife.com\/articles)\n# 10 reasons why you should consider buying life insurance\nShare\n\nLink Copied\n\nReasons to buy insurance are different for everyone. But at its core, the decision to purchase life insurance is about providing financial security for your loved ones. Learn the key benefits of life insurance and why it is important.\n***\n**QUICK LINKS**\n\n- [Why is life insurance important?](https:\/\/www.newyorklife.com\/articles\/six-reasons-to-buy-life-insurance#anchor1 \"Why is life insurance important\")\n- [The benefits of life insurance](https:\/\/www.newyorklife.com\/articles\/six-reasons-to-buy-life-insurance#anchor2 \"The benefits of life insurance\")\n- [Should I buy life insurance?](https:\/\/www.newyorklife.com\/articles\/six-reasons-to-buy-life-insurance#anchor3 \"Should I buy life insurance\")\n***\n![Young women looking at paperwork.](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/6-reasons-why-why-to-buy-life-insurance-iStock-1156486392-3x2-ratio-w1024-h682)\n\n## Why is life insurance important?\nLife insurance protects your loved ones from the potentially devastating financial impact of losing you. It provides your beneficiaries with a lump-sum payment upon your death, offering immediate financial security to help pay off debts, handle living expenses and cover medical or final expenses. This immediate financial support helps ensure your family isn't burdened financially during an already difficult time.\n\nYour life insurance policy delivers a specified amount of money directly to your beneficiaries, and that death benefit is typically not subject to federal income taxes if you own the policy and are the insured. For instance, a \\$500,000 policy provides your beneficiaries with a full \\$500,000 death benefit, helping them maintain their standard of living.\n\n## 10 important benefits of life insurance\nLife insurance offers protection and so much more. Certain policies can help cover expenses and supplement long-term goals like retirement or pay for your children’s college education. Whether you’re planning for your future living needs or want to prepare for the unexpected, here’s how life insurance can support your financial well-being.\n\n### 1\\. Guaranteed protection for those who depend on you\nIf your family, your business, or others rely on your income, the life insurance benefit of a [whole life policy](https:\/\/www.newyorklife.com\/products\/insurance\/whole-life \"whole life policy\") ensures they have a financial safety net. When you pass away, your loved ones receive a guaranteed, lump-sum payment (provided premiums are paid and there are no outstanding loans), offering vital protection when they need it most. Guarantees are based on the claims-paying ability of the issuer.\n\n### 2\\. Help your family pay for immediate costs\nA life insurance death benefit can immediately help cover expenses such as funeral and burial costs, outstanding medical bills, and [debts you leave behind](https:\/\/www.newyorklife.com\/articles\/what-happens-to-debt-when-you-die \"debts you leave behind\"). This can significantly ease the immediate financial strain on your family during an emotionally challenging period.\n\n### 3\\. Replace lost income\nConsider what would happen if your family suddenly lost your income. Life insurance provides your beneficiaries with funds to help:\n\n- Pay the [mortgage](https:\/\/www.newyorklife.com\/articles\/utilize-life-insurance \"mortgage\") or rent\n- Afford childcare, healthcare, and household expenses\n- Cover tuition or college costs\n- Eliminate household or personal debts\n- Preserve or continue a family business\n### 4\\. Tax-free benefit to beneficiaries\nYour [beneficiaries](https:\/\/www.newyorklife.com\/articles\/what-is-a-beneficiary \"beneficiaries\") receive the full benefit from your life insurance policy, which is generally federal income tax-free. This means the money you've allocated reaches your loved ones without tax deductions, ensuring they receive the maximum financial benefit.\n\n### 5\\. Cash value to help meet financial goals\nWhole life insurance policies build guaranteed [cash value](https:\/\/www.newyorklife.com\/articles\/life-insurance-cash-value-explained \"cash value\") as you pay your premiums. This cash value grows tax-deferred and as protection needs change in the future can be accessed to:\n\n- Supplement retirement income\n- Fund education for children or grandchildren\n- Pay off a mortgage or debts\n- Protect existing assets\n- Establish or contribute to an emergency fund\n\n*Accessing the cash value will decrease the death benefit and the cash surrender value.*\n\n### 6\\. Potential dividends to use how you’d like\nWhen you purchase whole life insurance from New York Life, you become eligible to receive potential [dividends](https:\/\/www.newyorklife.com\/articles\/what-are-dividends \"dividends\").1 Although dividends aren't guaranteed, when awarded, you have flexibility to:\n\n- Receive dividends in cash\n- Use dividends to offset your premiums\n- Buy additional paid-up insurance, increasing coverage and cash value\n- Reinvest the dividends in an interest-bearing account to maximize growth over time.\n### 7\\. Optional riders to fit your needs\nLife insurance can be tailored to your specific needs through optional [riders](https:\/\/www.newyorklife.com\/articles\/your-policy-your-way \"riders\") available for additional cost, which allow you to:\n\n- Purchase extra coverage without additional medical underwriting\n- Waive premium payments if you become disabled\n- Access your policy’s face amount for chronic illness expenses\n- Purchase additional coverage for your children\n### 8\\. Business continuity and protection\nLife insurance can help businesses survive the [loss of a key employee](https:\/\/www.newyorklife.com\/articles\/top-employees-life-insurance \"loss of a key employee\") or owner by funding buy-sell agreements and [business continuity plans](https:\/\/www.newyorklife.com\/articles\/business-continuity-plan \"business continuity plans\").\n\n### 9\\. Estate planning and wealth transfer\nLife insurance can efficiently facilitate the transfer of wealth by providing funds to cover estate taxes and helping heirs receive their intended [inheritance](https:\/\/www.newyorklife.com\/articles\/what-is-inheritance-tax \"inheritance\") intact.\n\n### 10\\. Charitable giving\nYou can designate a [charitable organization as a beneficiary](https:\/\/www.newyorklife.com\/articles\/consider-charities-as-beneficiaries \"charitable organization as a beneficiary\") of your life insurance, allowing you to leave a lasting legacy and contribute meaningfully to causes you care about.\n\n## Should I buy life insurance?\nLife insurance is essential if you have people who depend on you financially or if you want to ensure your financial obligations are covered in the event of your passing. It provides immediate financial relief and long-term financial security for those you care about most, offering invaluable peace of mind.\n\n## Want to learn more about life insurance?\nA New York Life financial professional can help determine what’s right for you.\n\nRelated Content\n\n[![Couple working on laptops.](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/SEO-20-3x2-couple-high-fiving-w200-h200) Buying life insurance for the first time? Read article](https:\/\/www.newyorklife.com\/articles\/six-tips-for-first-time-life-insurance-buyers \"Buying life insurance for the first time?\")\n\n[![Father teaching daughter with son in foreground at home](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/3x2-Thumbnail-3-Steps-to-take-before-becoming-a-stay-at-home-parent-w200-h200) Should I get life insurance in my 20s? Read article](https:\/\/www.newyorklife.com\/articles\/life-insurance-young-single-adult \"Should I get life insurance in my 20s?\")\n\n[![A man talking on his cell phone looking at something on his laptop computer.](https:\/\/assets.newyorklife.com\/is\/image\/newyorklife\/iStock-945336830-w200-h200) Life Insurance Costs and Pricing Explained Read article](https:\/\/www.newyorklife.com\/articles\/understanding-life-insurance-pricing \"Life Insurance Costs and Pricing Explained\")\n\nSUBSCRIBE\n\nLife insurance does more than just protect your family.\n\nLearn how life insurance can help you achieve your financial goals for you and your family.\n\n![](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-check-filled-green.svg)\n\nThank you for subscribing\\!\n\n1While dividends are not guaranteed, eligible policy owners have received them for more than 160 years. Some policies are participating but are not expected to receive dividends.\n\nNew York Life Insurance Company is the issuer of New York Life Whole Life. In most jurisdictions, the Whole Life policy form number is ICC18217-50P (4\/18). State variations may apply. SMRU \\# 5013936\n\nGET IN TOUCH\n\n- [Contact us](https:\/\/www.newyorklife.com\/contact-us \"Contact New York Life\")\n- [Connect with an agent](https:\/\/www.newyorklife.com\/leads-agents\/contact-a-financial-specialist \"Connect with a New York Life agent\")\n- [Find an agent](https:\/\/www.newyorklife.com\/agents\/find-an-agent\/locator \"Search for a New York Life agent\")\n- [How an agent can help](https:\/\/www.newyorklife.com\/agents \"Working with a New York Life agent\")\n- [Agent directory](https:\/\/www.newyorklife.com\/agents\/find-an-agent \"Look for New York Life agents by state \")\n- [Recruiter directory](https:\/\/www.newyorklife.com\/careers\/financial-professionals\/find-a-recruiter \"Look for New York Life recruiters by state\")\n- [General office directory](https:\/\/www.newyorklife.com\/careers\/our-offices \"Look for New York Life offices by state\")\n\nNEW YORK LIFE\n\n- [Agent careers](https:\/\/www.newyorklife.com\/careers\/financial-professionals \"Learn 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You can cancel anytime.\n\n![](https:\/\/www.newyorklife.com\/etc.clientlibs\/nylcom\/clientlibs\/global\/resources\/images\/icon-check-filled-green.svg)\n\nThank you for subscribing\\!\n\n[![Twitter](https:\/\/assets.newyorklife.com\/is\/content\/newyorklife\/X%20white%2016x16)](https:\/\/twitter.com\/NewYorkLife \"Visit New York Life on Twitter\")   [![Facebook](https:\/\/assets.newyorklife.com\/is\/content\/newyorklife\/Facebook%20white%2016x16)](https:\/\/www.facebook.com\/newyorklife\/ \"Visit New York Life on Facebook\")   [![LinkedIn](https:\/\/assets.newyorklife.com\/is\/content\/newyorklife\/LinkedIn%20white%2016x16)](https:\/\/www.linkedin.com\/company\/newyorklife \"Visit New York Life on LinkedIn\")   [![Instagram](https:\/\/assets.newyorklife.com\/is\/content\/newyorklife\/Instagram%20white%2016x16)](https:\/\/www.instagram.com\/newyorklife\/ \"Visit New York Life on Instagram\")   [![YouTube](https:\/\/assets.newyorklife.com\/is\/content\/newyorklife\/Icon-YouTube-Share)](https:\/\/www.youtube.com\/user\/newyorklife \"Visit New York Life on YouTube\")\n\n1 (800) CALL-NYL © 2026 New York Life Insurance Company, New York, NY. All Rights Reserved. NEW YORK LIFE, and the NEW YORK LIFE Box Logo are trademarks of New York Life Insurance Company.\n\n- [Terms of use](https:\/\/www.newyorklife.com\/about\/privacy\/terms-of-use \"Read about our Terms of use\")\n- [Privacy & other policies](https:\/\/www.newyorklife.com\/about\/privacy-policy \"Read about our Privacy & other policies\")\n- [Sitemap](https:\/\/www.newyorklife.com\/sitemap \"Sitemap\")","attrs_readable_markdown":"10 reasons why you should consider buying life insurance\n\nReasons to buy insurance are different for everyone. But at its core, the decision to purchase life insurance is about providing financial security for your loved ones. Learn the key benefits of life insurance and why it is important.\n\n## Why is life insurance important?\nLife insurance protects your loved ones from the potentially devastating financial impact of losing you. It provides your beneficiaries with a lump-sum payment upon your death, offering immediate financial security to help pay off debts, handle living expenses and cover medical or final expenses. This immediate financial support helps ensure your family isn't burdened financially during an already difficult time.\n\nYour life insurance policy delivers a specified amount of money directly to your beneficiaries, and that death benefit is typically not subject to federal income taxes if you own the policy and are the insured. For instance, a \\$500,000 policy provides your beneficiaries with a full \\$500,000 death benefit, helping them maintain their standard of living.\n\n## 10 important benefits of life insurance\nLife insurance offers protection and so much more. Certain policies can help cover expenses and supplement long-term goals like retirement or pay for your children’s college education. Whether you’re planning for your future living needs or want to prepare for the unexpected, here’s how life insurance can support your financial well-being.\n\n### 1\\. Guaranteed protection for those who depend on you\nIf your family, your business, or others rely on your income, the life insurance benefit of a [whole life policy](https:\/\/www.newyorklife.com\/products\/insurance\/whole-life \"whole life policy\") ensures they have a financial safety net. When you pass away, your loved ones receive a guaranteed, lump-sum payment (provided premiums are paid and there are no outstanding loans), offering vital protection when they need it most. Guarantees are based on the claims-paying ability of the issuer.\n\n### 2\\. Help your family pay for immediate costs\nA life insurance death benefit can immediately help cover expenses such as funeral and burial costs, outstanding medical bills, and [debts you leave behind](https:\/\/www.newyorklife.com\/articles\/what-happens-to-debt-when-you-die \"debts you leave behind\"). This can significantly ease the immediate financial strain on your family during an emotionally challenging period.\n\n### 3\\. Replace lost income\nConsider what would happen if your family suddenly lost your income. Life insurance provides your beneficiaries with funds to help:\n\n- Pay the [mortgage](https:\/\/www.newyorklife.com\/articles\/utilize-life-insurance \"mortgage\") or rent\n- Afford childcare, healthcare, and household expenses\n- Cover tuition or college costs\n- Eliminate household or personal debts\n- Preserve or continue a family business\n### 4\\. Tax-free benefit to beneficiaries\nYour [beneficiaries](https:\/\/www.newyorklife.com\/articles\/what-is-a-beneficiary \"beneficiaries\") receive the full benefit from your life insurance policy, which is generally federal income tax-free. This means the money you've allocated reaches your loved ones without tax deductions, ensuring they receive the maximum financial benefit.\n\n### 5\\. Cash value to help meet financial goals\nWhole life insurance policies build guaranteed [cash value](https:\/\/www.newyorklife.com\/articles\/life-insurance-cash-value-explained \"cash value\") as you pay your premiums. This cash value grows tax-deferred and as protection needs change in the future can be accessed to:\n\n- Supplement retirement income\n- Fund education for children or grandchildren\n- Pay off a mortgage or debts\n- Protect existing assets\n- Establish or contribute to an emergency fund\n\n*Accessing the cash value will decrease the death benefit and the cash surrender value.*\n\n### 6\\. Potential dividends to use how you’d like\nWhen you purchase whole life insurance from New York Life, you become eligible to receive potential [dividends](https:\/\/www.newyorklife.com\/articles\/what-are-dividends \"dividends\").1 Although dividends aren't guaranteed, when awarded, you have flexibility to:\n\n- Receive dividends in cash\n- Use dividends to offset your premiums\n- Buy additional paid-up insurance, increasing coverage and cash value\n- Reinvest the dividends in an interest-bearing account to maximize growth over time.\n### 7\\. Optional riders to fit your needs\nLife insurance can be tailored to your specific needs through optional [riders](https:\/\/www.newyorklife.com\/articles\/your-policy-your-way \"riders\") available for additional cost, which allow you to:\n\n- Purchase extra coverage without additional medical underwriting\n- Waive premium payments if you become disabled\n- Access your policy’s face amount for chronic illness expenses\n- Purchase additional coverage for your children\n### 8\\. Business continuity and protection\nLife insurance can help businesses survive the [loss of a key employee](https:\/\/www.newyorklife.com\/articles\/top-employees-life-insurance \"loss of a key employee\") or owner by funding buy-sell agreements and [business continuity plans](https:\/\/www.newyorklife.com\/articles\/business-continuity-plan \"business continuity plans\").\n\n### 9\\. Estate planning and wealth transfer\nLife insurance can efficiently facilitate the transfer of wealth by providing funds to cover estate taxes and helping heirs receive their intended [inheritance](https:\/\/www.newyorklife.com\/articles\/what-is-inheritance-tax \"inheritance\") intact.\n\n### 10\\. Charitable giving\nYou can designate a [charitable organization as a beneficiary](https:\/\/www.newyorklife.com\/articles\/consider-charities-as-beneficiaries \"charitable organization as a beneficiary\") of your life insurance, allowing you to leave a lasting legacy and contribute meaningfully to causes you care about.\n\n## Should I buy life insurance?\nLife insurance is essential if you have people who depend on you financially or if you want to ensure your financial obligations are covered in the event of your passing. It provides immediate financial relief and long-term financial security for those you care about most, offering invaluable peace of mind.\n\n1While dividends are not guaranteed, eligible policy owners have received them for more than 160 years. Some policies are participating but are not expected to receive dividends.\n\nNew York Life Insurance Company is the issuer of New York Life Whole Life. In most jurisdictions, the Whole Life policy form number is ICC18217-50P (4\/18). State variations may apply. SMRU \\# 5013936","meta_canonical":null}

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URL	https://www.newyorklife.com/articles/six-reasons-to-buy-life-insurance
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Meta Title	The Benefits of Life Insurance & Why to Get It \| New York Life
Meta Description	Understand the importance of life insurance and why it's essential. Learn the benefits and reasons you should consider purchasing it.
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Boilerpipe Text	10 reasons why you should consider buying life insurance Reasons to buy insurance are different for everyone. But at its core, the decision to purchase life insurance is about providing financial security for your loved ones. Learn the key benefits of life insurance and why it is important. Why is life insurance important? Life insurance protects your loved ones from the potentially devastating financial impact of losing you. It provides your beneficiaries with a lump-sum payment upon your death, offering immediate financial security to help pay off debts, handle living expenses and cover medical or final expenses. This immediate financial support helps ensure your family isn't burdened financially during an already difficult time. Your life insurance policy delivers a specified amount of money directly to your beneficiaries, and that death benefit is typically not subject to federal income taxes if you own the policy and are the insured. For instance, a $500,000 policy provides your beneficiaries with a full $500,000 death benefit, helping them maintain their standard of living. 10 important benefits of life insurance Life insurance offers protection and so much more. Certain policies can help cover expenses and supplement long-term goals like retirement or pay for your children’s college education. Whether you’re planning for your future living needs or want to prepare for the unexpected, here’s how life insurance can support your financial well-being. 1. Guaranteed protection for those who depend on you If your family, your business, or others rely on your income, the life insurance benefit of a whole life policy ensures they have a financial safety net. When you pass away, your loved ones receive a guaranteed, lump-sum payment (provided premiums are paid and there are no outstanding loans), offering vital protection when they need it most. Guarantees are based on the claims-paying ability of the issuer. 2. Help your family pay for immediate costs A life insurance death benefit can immediately help cover expenses such as funeral and burial costs, outstanding medical bills, and debts you leave behind . This can significantly ease the immediate financial strain on your family during an emotionally challenging period. 3. Replace lost income Consider what would happen if your family suddenly lost your income. Life insurance provides your beneficiaries with funds to help: Pay the mortgage or rent Afford childcare, healthcare, and household expenses Cover tuition or college costs Eliminate household or personal debts Preserve or continue a family business 4. Tax-free benefit to beneficiaries Your beneficiaries receive the full benefit from your life insurance policy, which is generally federal income tax-free. This means the money you've allocated reaches your loved ones without tax deductions, ensuring they receive the maximum financial benefit. 5. Cash value to help meet financial goals Whole life insurance policies build guaranteed cash value as you pay your premiums. This cash value grows tax-deferred and as protection needs change in the future can be accessed to: Supplement retirement income Fund education for children or grandchildren Pay off a mortgage or debts Protect existing assets Establish or contribute to an emergency fund Accessing the cash value will decrease the death benefit and the cash surrender value. 6. Potential dividends to use how you’d like When you purchase whole life insurance from New York Life, you become eligible to receive potential dividends . 1 Although dividends aren't guaranteed, when awarded, you have flexibility to: Receive dividends in cash Use dividends to offset your premiums Buy additional paid-up insurance, increasing coverage and cash value Reinvest the dividends in an interest-bearing account to maximize growth over time. 7. Optional riders to fit your needs Life insurance can be tailored to your specific needs through optional riders available for additional cost, which allow you to: Purchase extra coverage without additional medical underwriting Waive premium payments if you become disabled Access your policy’s face amount for chronic illness expenses Purchase additional coverage for your children 8. Business continuity and protection Life insurance can help businesses survive the loss of a key employee or owner by funding buy-sell agreements and business continuity plans . 9. Estate planning and wealth transfer Life insurance can efficiently facilitate the transfer of wealth by providing funds to cover estate taxes and helping heirs receive their intended inheritance intact. 10. Charitable giving You can designate a charitable organization as a beneficiary of your life insurance, allowing you to leave a lasting legacy and contribute meaningfully to causes you care about. Should I buy life insurance? Life insurance is essential if you have people who depend on you financially or if you want to ensure your financial obligations are covered in the event of your passing. It provides immediate financial relief and long-term financial security for those you care about most, offering invaluable peace of mind. 1 While dividends are not guaranteed, eligible policy owners have received them for more than 160 years. Some policies are participating but are not expected to receive dividends. New York Life Insurance Company is the issuer of New York Life Whole Life. In most jurisdictions, the Whole Life policy form number is ICC18217-50P (4/18). State variations may apply. SMRU # 5013936
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[Articles](https://www.newyorklife.com/articles) # 10 reasons why you should consider buying life insurance Share Link Copied Reasons to buy insurance are different for everyone. But at its core, the decision to purchase life insurance is about providing financial security for your loved ones. Learn the key benefits of life insurance and why it is important. * QUICK LINKS - [Why is life insurance important?](https://www.newyorklife.com/articles/six-reasons-to-buy-life-insurance#anchor1 "Why is life insurance important") - [The benefits of life insurance](https://www.newyorklife.com/articles/six-reasons-to-buy-life-insurance#anchor2 "The benefits of life insurance") - [Should I buy life insurance?](https://www.newyorklife.com/articles/six-reasons-to-buy-life-insurance#anchor3 "Should I buy life insurance") * ![Young women looking at paperwork.](https://assets.newyorklife.com/is/image/newyorklife/6-reasons-why-why-to-buy-life-insurance-iStock-1156486392-3x2-ratio-w1024-h682) ## Why is life insurance important? Life insurance protects your loved ones from the potentially devastating financial impact of losing you. It provides your beneficiaries with a lump-sum payment upon your death, offering immediate financial security to help pay off debts, handle living expenses and cover medical or final expenses. This immediate financial support helps ensure your family isn't burdened financially during an already difficult time. Your life insurance policy delivers a specified amount of money directly to your beneficiaries, and that death benefit is typically not subject to federal income taxes if you own the policy and are the insured. For instance, a \$500,000 policy provides your beneficiaries with a full \$500,000 death benefit, helping them maintain their standard of living. ## 10 important benefits of life insurance Life insurance offers protection and so much more. Certain policies can help cover expenses and supplement long-term goals like retirement or pay for your children’s college education. Whether you’re planning for your future living needs or want to prepare for the unexpected, here’s how life insurance can support your financial well-being. ### 1\. Guaranteed protection for those who depend on you If your family, your business, or others rely on your income, the life insurance benefit of a [whole life policy](https://www.newyorklife.com/products/insurance/whole-life "whole life policy") ensures they have a financial safety net. When you pass away, your loved ones receive a guaranteed, lump-sum payment (provided premiums are paid and there are no outstanding loans), offering vital protection when they need it most. Guarantees are based on the claims-paying ability of the issuer. ### 2\. Help your family pay for immediate costs A life insurance death benefit can immediately help cover expenses such as funeral and burial costs, outstanding medical bills, and [debts you leave behind](https://www.newyorklife.com/articles/what-happens-to-debt-when-you-die "debts you leave behind"). This can significantly ease the immediate financial strain on your family during an emotionally challenging period. ### 3\. Replace lost income Consider what would happen if your family suddenly lost your income. Life insurance provides your beneficiaries with funds to help: - Pay the [mortgage](https://www.newyorklife.com/articles/utilize-life-insurance "mortgage") or rent - Afford childcare, healthcare, and household expenses - Cover tuition or college costs - Eliminate household or personal debts - Preserve or continue a family business ### 4\. Tax-free benefit to beneficiaries Your [beneficiaries](https://www.newyorklife.com/articles/what-is-a-beneficiary "beneficiaries") receive the full benefit from your life insurance policy, which is generally federal income tax-free. This means the money you've allocated reaches your loved ones without tax deductions, ensuring they receive the maximum financial benefit. ### 5\. Cash value to help meet financial goals Whole life insurance policies build guaranteed [cash value](https://www.newyorklife.com/articles/life-insurance-cash-value-explained "cash value") as you pay your premiums. This cash value grows tax-deferred and as protection needs change in the future can be accessed to: - Supplement retirement income - Fund education for children or grandchildren - Pay off a mortgage or debts - Protect existing assets - Establish or contribute to an emergency fund Accessing the cash value will decrease the death benefit and the cash surrender value. ### 6\. Potential dividends to use how you’d like When you purchase whole life insurance from New York Life, you become eligible to receive potential [dividends](https://www.newyorklife.com/articles/what-are-dividends "dividends").1 Although dividends aren't guaranteed, when awarded, you have flexibility to: - Receive dividends in cash - Use dividends to offset your premiums - Buy additional paid-up insurance, increasing coverage and cash value - Reinvest the dividends in an interest-bearing account to maximize growth over time. ### 7\. Optional riders to fit your needs Life insurance can be tailored to your specific needs through optional [riders](https://www.newyorklife.com/articles/your-policy-your-way "riders") available for additional cost, which allow you to: - Purchase extra coverage without additional medical underwriting - Waive premium payments if you become disabled - Access your policy’s face amount for chronic illness expenses - Purchase additional coverage for your children ### 8\. Business continuity and protection Life insurance can help businesses survive the [loss of a key employee](https://www.newyorklife.com/articles/top-employees-life-insurance "loss of a key employee") or owner by funding buy-sell agreements and [business continuity plans](https://www.newyorklife.com/articles/business-continuity-plan "business continuity plans"). ### 9\. Estate planning and wealth transfer Life insurance can efficiently facilitate the transfer of wealth by providing funds to cover estate taxes and helping heirs receive their intended [inheritance](https://www.newyorklife.com/articles/what-is-inheritance-tax "inheritance") intact. ### 10\. Charitable giving You can designate a [charitable organization as a beneficiary](https://www.newyorklife.com/articles/consider-charities-as-beneficiaries "charitable organization as a beneficiary") of your life insurance, allowing you to leave a lasting legacy and contribute meaningfully to causes you care about. ## Should I buy life insurance? Life insurance is essential if you have people who depend on you financially or if you want to ensure your financial obligations are covered in the event of your passing. It provides immediate financial relief and long-term financial security for those you care about most, offering invaluable peace of mind. ## Want to learn more about life insurance? A New York Life financial professional can help determine what’s right for you. Related Content [![Couple working on laptops.](https://assets.newyorklife.com/is/image/newyorklife/SEO-20-3x2-couple-high-fiving-w200-h200) Buying life insurance for the first time? Read article](https://www.newyorklife.com/articles/six-tips-for-first-time-life-insurance-buyers "Buying life insurance for the first time?") [![Father teaching daughter with son in foreground at home](https://assets.newyorklife.com/is/image/newyorklife/3x2-Thumbnail-3-Steps-to-take-before-becoming-a-stay-at-home-parent-w200-h200) Should I get life insurance in my 20s? Read article](https://www.newyorklife.com/articles/life-insurance-young-single-adult "Should I get life insurance in my 20s?") [![A man talking on his cell phone looking at something on his laptop computer.](https://assets.newyorklife.com/is/image/newyorklife/iStock-945336830-w200-h200) Life Insurance Costs and Pricing Explained Read article](https://www.newyorklife.com/articles/understanding-life-insurance-pricing "Life Insurance Costs and Pricing Explained") SUBSCRIBE Life insurance does more than just protect your family. Learn how life insurance can help you achieve your financial goals for you and your family. ![](https://www.newyorklife.com/etc.clientlibs/nylcom/clientlibs/global/resources/images/icon-check-filled-green.svg) Thank you for subscribing\! 1While dividends are not guaranteed, eligible policy owners have received them for more than 160 years. Some policies are participating but are not expected to receive dividends. New York Life Insurance Company is the issuer of New York Life Whole Life. In most jurisdictions, the Whole Life policy form number is ICC18217-50P (4/18). State variations may apply. 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Readable Markdown	10 reasons why you should consider buying life insurance Reasons to buy insurance are different for everyone. But at its core, the decision to purchase life insurance is about providing financial security for your loved ones. Learn the key benefits of life insurance and why it is important. ## Why is life insurance important? Life insurance protects your loved ones from the potentially devastating financial impact of losing you. It provides your beneficiaries with a lump-sum payment upon your death, offering immediate financial security to help pay off debts, handle living expenses and cover medical or final expenses. This immediate financial support helps ensure your family isn't burdened financially during an already difficult time. Your life insurance policy delivers a specified amount of money directly to your beneficiaries, and that death benefit is typically not subject to federal income taxes if you own the policy and are the insured. For instance, a \$500,000 policy provides your beneficiaries with a full \$500,000 death benefit, helping them maintain their standard of living. ## 10 important benefits of life insurance Life insurance offers protection and so much more. Certain policies can help cover expenses and supplement long-term goals like retirement or pay for your children’s college education. Whether you’re planning for your future living needs or want to prepare for the unexpected, here’s how life insurance can support your financial well-being. ### 1\. Guaranteed protection for those who depend on you If your family, your business, or others rely on your income, the life insurance benefit of a [whole life policy](https://www.newyorklife.com/products/insurance/whole-life "whole life policy") ensures they have a financial safety net. When you pass away, your loved ones receive a guaranteed, lump-sum payment (provided premiums are paid and there are no outstanding loans), offering vital protection when they need it most. Guarantees are based on the claims-paying ability of the issuer. ### 2\. Help your family pay for immediate costs A life insurance death benefit can immediately help cover expenses such as funeral and burial costs, outstanding medical bills, and [debts you leave behind](https://www.newyorklife.com/articles/what-happens-to-debt-when-you-die "debts you leave behind"). This can significantly ease the immediate financial strain on your family during an emotionally challenging period. ### 3\. Replace lost income Consider what would happen if your family suddenly lost your income. Life insurance provides your beneficiaries with funds to help: - Pay the [mortgage](https://www.newyorklife.com/articles/utilize-life-insurance "mortgage") or rent - Afford childcare, healthcare, and household expenses - Cover tuition or college costs - Eliminate household or personal debts - Preserve or continue a family business ### 4\. Tax-free benefit to beneficiaries Your [beneficiaries](https://www.newyorklife.com/articles/what-is-a-beneficiary "beneficiaries") receive the full benefit from your life insurance policy, which is generally federal income tax-free. This means the money you've allocated reaches your loved ones without tax deductions, ensuring they receive the maximum financial benefit. ### 5\. Cash value to help meet financial goals Whole life insurance policies build guaranteed [cash value](https://www.newyorklife.com/articles/life-insurance-cash-value-explained "cash value") as you pay your premiums. This cash value grows tax-deferred and as protection needs change in the future can be accessed to: - Supplement retirement income - Fund education for children or grandchildren - Pay off a mortgage or debts - Protect existing assets - Establish or contribute to an emergency fund Accessing the cash value will decrease the death benefit and the cash surrender value. ### 6\. Potential dividends to use how you’d like When you purchase whole life insurance from New York Life, you become eligible to receive potential [dividends](https://www.newyorklife.com/articles/what-are-dividends "dividends").1 Although dividends aren't guaranteed, when awarded, you have flexibility to: - Receive dividends in cash - Use dividends to offset your premiums - Buy additional paid-up insurance, increasing coverage and cash value - Reinvest the dividends in an interest-bearing account to maximize growth over time. ### 7\. Optional riders to fit your needs Life insurance can be tailored to your specific needs through optional [riders](https://www.newyorklife.com/articles/your-policy-your-way "riders") available for additional cost, which allow you to: - Purchase extra coverage without additional medical underwriting - Waive premium payments if you become disabled - Access your policy’s face amount for chronic illness expenses - Purchase additional coverage for your children ### 8\. Business continuity and protection Life insurance can help businesses survive the [loss of a key employee](https://www.newyorklife.com/articles/top-employees-life-insurance "loss of a key employee") or owner by funding buy-sell agreements and [business continuity plans](https://www.newyorklife.com/articles/business-continuity-plan "business continuity plans"). ### 9\. Estate planning and wealth transfer Life insurance can efficiently facilitate the transfer of wealth by providing funds to cover estate taxes and helping heirs receive their intended [inheritance](https://www.newyorklife.com/articles/what-is-inheritance-tax "inheritance") intact. ### 10\. Charitable giving You can designate a [charitable organization as a beneficiary](https://www.newyorklife.com/articles/consider-charities-as-beneficiaries "charitable organization as a beneficiary") of your life insurance, allowing you to leave a lasting legacy and contribute meaningfully to causes you care about. ## Should I buy life insurance? Life insurance is essential if you have people who depend on you financially or if you want to ensure your financial obligations are covered in the event of your passing. It provides immediate financial relief and long-term financial security for those you care about most, offering invaluable peace of mind. 1While dividends are not guaranteed, eligible policy owners have received them for more than 160 years. Some policies are participating but are not expected to receive dividends. New York Life Insurance Company is the issuer of New York Life Whole Life. In most jurisdictions, the Whole Life policy form number is ICC18217-50P (4/18). State variations may apply. SMRU \# 5013936
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