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 Cheapest Life Insurance USA

Bankers Life (New York) - Life Insurance

Who Bankers Life Are

Bankers Life Insurance Company of New York has been serving the need for high quality insurance and financial products to business owners and families in New York since 1958. Their combination of innovation, financial strength and excellent service has helped position Bankers as a premiere insurance carrier in their community.

Bankers Life - Mission Statement

Bankers Life's mission is to satisfy the life insurance needs of a diversified customer base with competitive products, value added services, advanced technologies, financial strength and conservative investment philosophies.

Bankers Life Products

For Business Owners
Bankers Life has developed a product line specifically designed with the needs of the business owner in mind. A cornerstone of this line is their EGUL Solution plan, which offers a variety of choices for employers and employees. It is a competitively priced product designed to offer large amounts of coverage at relatively low cost. This product is used for the business owner’s family, estate and business continuation needs. Through the use of their multiple employer trust, businesses can participate with one life or more – an excellent benefit, for small businesses.

For Estate Planning
Estate taxes could possibly be one of the largest tax expenses that a family will ever have to confront. Under current IRS regulations, an estate valued at $625,000 or more will be subject to estate taxes. Without proper planning, an estate can shrink by up to 50 percent or more. However, because of the unlimited marital deduction, estate taxes may not come due on the first death of two spouses.

That’s why many turn to life insurance as a cost effective and efficient way to cover the costs of estate taxes. With the advent of second-to-die life insurance products, Bankers Life can combine the cost advantages of joint mortality, with the need for cash flow upon the second death of two spouses. Their Survivor Solution Universal Life product offers the benefits of such protection with the flexibility of Universal Life.

A Portfolio of Family Products
Bankers Life has a 40-year tradition of satisfying the needs of families throughout New York. As with business owners, the insurance needs of families are changing with the times – Bankers Life is committed to keeping pace with these changes with a growing portfolio of products.

Emerging trends that affect the insurance industry include the aging of our population, the changing demographics of the work force, and the increased mobility and education of their customers. External forces such as the economy and the increased scrutiny of the life insurance industry in general have created the need for affordable products and attractive guarantees.

Universal Life
Flexibility is often a prime requirement in family life insurance products. As a family goes through its life cycle, the need for protection and the ability to afford it often fluctuate. To help families adjust to these changes, Bankers Life has been a leader in the development of flexible premium adjustable life insurance, also known as Universal Life.

Universal Life is designed to allow for changes in premiums and coverage within one policy. For example, with marriage and the birth of children the need for coverage increases dramatically, but the ability to pay for it may not. However, as earned income increases, a family may decide to increase premiums in order to step up the rate of cash accumulation for use as a living benefit. This cash accumulation may be utilized as a fund for a child’s education, emergencies, or other needs. Bankers Life offers two single life universal life products – Lifetime Solution Universal Life and EGUL Solution Universal Life, and one second-to-die product, Survivor Solution Universal Life.

Whole Life
Bankers Life offers whole life insurance that combines the guarantees with the added advantage of current interest rates. Legend Whole Life is an interest-sensitive whole life plan with fixed, guaranteed premium and cash values. Favorable claims and investment experience provide the company the opportunity to credit higher cash values, over and above the guarantee. For those who can afford whole life insurance, it is an excellent cash accumulator and provides protection for life.

The aging of the baby boomer generation is beginning to have a profound impact on our economy and the needs of the insurance market. Senior citizens are living longer, healthier lives and consequently require death benefit protection that is available for purchase at older ages. Bankers Life has a solution

Bankers Life offers a whole life product with strong guarantees, but that requires no medical exam. Individuals 0-75 may apply for Classic Life in amounts up to $25,000 of coverage and are underwritten and approved based on a few medical questions and a private phone interview. It provides a way to pay final expenses, leave a gift for children or grandchildren, or make a charitable contribution.

Term Life
Economic forces often leave families struggling to afford permanent life insurance coverage, but with a need for shorter-term protection. Term insurance can bridge the gap between the need for a permanent plan and the ability to afford it.

Term insurance provides pure death benefit protection without a cash accumulation component. Consequently, the immediate cost is much lower than that of a permanent plan. As age increases, premiums increase, but while an individual is young, term insurance offers the most affordable protection available. When an individual is able to afford the permanent plan, term insurance can usually be converted without evidence of good health.

Bankers Life offers several term product choices. These include plans with guaranteed level premiums for 10, 15 and 20 years and 15 and 20 year plans with a 7 year guarantee. Rates are very competitive, particularly for preferred risks. Policy form L-501C and L-501D.

Tax deferred growth can also be an important part of a family’s financial portfolio. Bankers Life offers a flexible premium deferred annuity (Triple A, policy form A-2G) and a single premium deferred annuity (Excelsior, policy form A-SP) to suit this need. Both offer attractive interest rates and shield those earnings from current taxation; therefore they are perfect for retirement planning.

65 Froehlich Farm Blvd,
NY 11797-9847

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