- 1
Individuals & Families
Solutions for Individuals & Families
Financial conversations often begin with questions about retirement, protection, family priorities, and long-term financial stability. While every situation is different, the areas below represent some of the most common financial topics individuals and families choose to explore.
401(k) and IRA Rollover Options
When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a strong consideration. We can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer's plan, if on is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.
Before rolling over the proceeds of your retirement plan to an Individual Retirement Account (IRA) or annuity, consider whether you would benefit from other possible options such as leaving the funds in your existing plan or transferring them into a new employer’s plan. You should consider the specific terms and rules that relate to each option including: the available investment options, applicable fees and expenses, the services offered, the withdrawal options, the potential flexibility around taking IRS required minimum distributions from the option, tax consequences of withdrawals and of removing shares of employer stock from your employer plan, possible protection from creditors and legal judgments and your unique situation. Neither New York Life Insurance Company nor its agents provide tax or legal advice. Consult your own tax and or legal advisors regarding your particular situation.
Retirement Planning
Thoughtful retirement planning focuses on helping individuals and families prepare for the transition from working years to retirement. Conversations may include evaluating savings strategies, income sources, Social Security considerations, and long term financial priorities so retirement decisions can be made with clarity and confidence.
Estate Planning
Estate planning helps individuals and families consider how assets, responsibilities, and values will be transferred to future generations. Conversations often involve coordination with attorneys and tax professionals to help ensure wishes are documented and financial matters are organized appropriately.
Asset Protection
Asset protection focuses on strategies designed to help protect personal and family assets from unexpected risks. These conversations often include evaluating insurance coverage, liability considerations, and financial structures that may help preserve long term financial stability.
Charitable Giving Solutions
Charitable solutions helps individuals and families support the causes and organizations that matter most to them. Discussions may explore ways charitable giving can be incorporated into an overall financial strategy while aligning generosity with personal values and long term goals.
Disability and Extended Care Needs
Unexpected health events can significantly impact financial stability. Conversations around disability and extended care needs focus on helping individuals consider strategies that may help protect income, assets, and long term financial independence if health challenges arise.
Special Needs Solutions
Families caring for individuals with special needs often face unique financial and legal considerations. Discussions focus on helping families explore strategies that support ongoing care needs, financial stability, and continuity of support for loved ones.
Life Insurance
Term Life
Term life insurance provides death benefit coverage for a specific period of time and is often used to help protect income, mortgages, or family financial responsibilities during key working years.
Whole Life
Whole life insurance provides permanent* death benefit coverage and includes features designed to support long term financial protection. It is often considered as part of broader strategies that prioritize stability and long term security.
*Provided ongoing premiums are paid.
Universal Life
Universal life insurance offers permanent* coverage with flexible premium structures. Conversations may explore how this type of policy can help individuals adjust coverage as financial circumstances evolve.
*The policy will terminate if at any time the policy's cash value is insufficient to cover the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or changes in credited interest rates or charges fluctuate.
Variable Universal Life
Variable universal life insurance combines permanent* coverage with policy value components that may be linked to investment options. These policies are typically considered within long term conversations and require careful evaluation.
These products are offered by prospectus through NYLIFE Securities LLC. (member FINRA/SIPC) and a Licensed insurance Agency. Be sure to request one and read it carefully before investing as both the product and investment options prospectuses provide complete information you need to know regarding charges, expenses and risk factors.
*The policy may lapse if at any time the policy value is insufficient to cover monthly deductions. This can occur due to insufficient premium payments, policy loans or withdrawals, or poor investment performance within the policy.
Survivorship Life
Survivorship life insurance provides coverage on two individuals and pays a benefit after both insured individuals pass away. It is commonly used in estate and legacy planning conversations for families with multigenerational planning goals.
Annuities
Fixed Interest Deferred Annuities
Fixed interest deferred annuities allow funds to accumulate at a stated interest rate over time. These products are often considered by individuals seeking stability and predictable accumulation as part of retirement planning.
Subject to a sales charge for early withdrawals and may be subject to income tax. Withdrawals prior to 59.5 are subject to a 10% tax penalty.
Lifetime Income Annuities
Lifetime income annuities are designed to provide a stream of income that can continue for life. They are often evaluated by individuals looking for ways to help create predictable retirement income.
All guarantees associated with Annuity Contracts are based on the claims paying ability of the issuing insurance company. Withdrawals may be subject to regular income tax, and if made prior to age 59 1/2, may be subject to a 10% IRS penalty. In addition surrender charges may apply.
Lifetime Income Annuities
Lifetime income annuities are designed to provide a stream of income that can continue for life. They are often evaluated by individuals looking for ways to help create predictable retirement income.
All guarantees associated with Annuity Contracts are based on the claims paying ability of the issuing insurance company. Withdrawals may be subject to regular income tax, and if made prior to age 59 1/2, may be subject to a 10% IRS penalty. In addition surrender charges may apply.
Variable Deferred Annuities
Variable deferred annuities allow funds to accumulate over time with returns linked to investment options within the contract. These products are typically considered in long term retirement planning conversations and involve market risk.
Offered through NYLIFE Securities LLC (member FINRA/SIPC), and a Licensed Insurance Agency.
