New York Life Insurance coverage

Life InsuranceLife Insurance

Robert Alan Agency, Inc in New York — not only has all the facts — we can help you make the right decisions in choosing a life insurance policy that will meet your individual needs.

Consumer Benefits of Life Insurance Requirements

A quick snapshot of a few New York state requirements for Life insurance policies that will benefit the consumer.

  • Unexpected financial issues can leave you in a bind. New York requires us to give a 31-day grace period on late premium payments.
  • We all change our minds sometimes and that’s okay. New York has a 10 day “free look” provision with a 100% refund if you are not completely satisfied with the life insurance policy chosen.
  • Robert Alan Agency, Inc wants to settle all claims promptly. The state of New York requires us to pay death benefits 30 days after receiving proof of the deceased.

Types of Life Insurance

Our experience and direction at Robert Alan Agency will enable you to choose the best type of life insurance coverage with confidence — for you and your family.

There are different types of life insurance policies available for different seasons of life.

Term

  • A set amount of time is chosen — usually between 10-30 years.
  • This type of coverage pays a death benefit only if the death occurs during the designated time span up to the age of 95.
  • There is no redeemable value at the end of the term.

Whole

  • Your premium stays the same throughout your coverage
  • It can accumulate cash value over time.
  • Has an investment compensation and possible loan value tax-free.

Universal

  • Has a flexible pay schedule from year to year.
  • Universal vs. Whole — can earn more or less each year depending on the specifics of your individual policy.

Stop in and let our experience here at Robert Alan Agency, Inc in New York help you make this important and necessary decision today for a lifetime.