To apply for insurance offered by New York Life Insurance, fill out and submit the form provided on the company's official website, which is NewYorkLife.com. Wait for a New York Life agent to contact you and discuss available options.
New York Life agents typically help policyholders determine if they have adequate insurance, states the company. It helps to ask about the necessary amount to pay for medical costs and final expenses in the event of a death. Policyholders should also ask about the amount of income their family members likely need in the future to maintain their lifestyle. New York Life agents help evaluate estimated costs while considering factors such as mortgage payments and educational costs.
Another important question to ask when consulting with an agent is whether a person has the right type of insurance, explains New York Life. For example, temporary insurance covers an individual's needs for a specific period, whereas permanent insurance offers lifelong protection. A person's budget, preferred benefits and desired period of coverage are factors that can affect his decision.
It is also essential to understand if a policyholder's chosen beneficiaries are going to receive the proceeds from his life insurance upon his death, notes New York Life. Because minors cannot receive proceeds, it helps to create wills and trusts to make sure the proceeds go to the policyholder's children.