1. You know that life insurance protects your family or
business by hedging against the premature loss of
your earnings, but did you know that cash value life
insurance can also improve the overall expected
returns in your investment portfolio? And, with
Whole Life insurance from New York Life, the
potential benefits are even greater.
More Than Protection
When you think about what makes up your total economic
wealth, you probably think about your savings, investments
and real estate. But what about the value of your career?
How much of your total economic wealth will come from your
future earnings? More importantly, how do you protect this part
of your total economic wealth for your family?
One way to do that is with cash value life insurance. Specially,
whole life insurance can provide more than just protection.
Current research proves that it is economically beneficial to
include whole life insurance in a portfolio as part of the fixed
income asset class.
Greater Returns, Reduced Risk
According to a recent study of New York Life’s general
accounts1
by Ibbotson Associates, an independent
firm and a leader in asset allocation research, adding whole life
insurance to your portfolio can enhance its overall performance
by providing a higher expected return and a lower standard
deviation (risk) than a portfolio without life insurance. Most
investors seek to maximize returns while minimizing risk;
whole life insurance can help make such results possible.
Improve Your Portfolio
with Life Insurance
1
“Estimating Expected Return and Standard Deviation of New York Life Insurance Company
General Account for Investors,” Ibbotson Associates, 2009.

2. Let’s look at an example that compares two portfolios, each with a 54% Fixed
Income/46% Equity split for someone in a moderate growth with income
portfolio, based on his/her risk tolerance and objectives.
In Portfolio A, the fixed income asset class contains traditional fixed income
investments, such as High Yield Bonds, Short-term Bonds and Cash
Equivalents. Portfolio B contains these same types of investments in its fixed
income asset class, but it also allocates a portion of the fixed income asset
class to whole life insurance cash value.
In Portfolio B, the cash value life insurance allows for a 26 basis point (bp)
increase in expected returns and a 45 bp reduction in the standard deviation.
Deciding What’s Important
Because the cash value of your life insurance takes time to build up, you are
trading some short-term liquidity when investing in a whole life policy to
receive the benefit of higher expected returns and lower risk over the long
run. You should consider what is more important to you — short-term
liquidity or higher expected returns for your portfolio.
Your agent can help you, using model portfolios constructed by Ibbotson, to
determine your base life insurance need and the amount of cash value that
should be in your portfolio. You can either build up the cash value over time
or add money by constructing a policy that takes advantage of the Option to
Purchase Paid-Up Additions (OPP) rider, creating significant cash value early
on. Another way to build cash value more quickly is by opting for a shorter
premium payment period.
Fixed
Income
54%
Other Fixed
Income
34%
Life
Insurance
Cash Value
20%
Equity
46%
Equity
46%
Portfolio A Portfolio B
Expected Return2 6.02% 6.28%
Standard
Deviation (Risk)3 10.14% 9.69%

3. You also have the option to add the Disability Waiver of Premium (WP) rider,
available at an additional cost, which can ensure your policy remains in
force and your cash value continues to accumulate should you become
totally disabled.
The Benefits of Whole Life
In addition to improving portfolio performance, cash value whole life
insurance offers other unique benefits, such as:
n A guaranteed death benefit,4 so long as premiums are paid
n A premium guaranteed never to increase, regardless of
economic conditions
n Guaranteed cash value growth
n Additional growth through dividends5
n Tax-deferred cash value growth
n Protection from creditors6
n Tax-free access to cash values7
n Income-tax-free death benefit
In short, using whole life’s cash value as a portion of your fixed income
investment will not only protect your largest asset — your future earnings
— it can also enhance the performance of your entire portfolio. Portfolio
improvement results are possible in part because of the financial strength,
asset management and potential dividends from the company issuing the life
insurance policy.
Why New York Life Is The Company You Keep®
New York Life’s mission is to provide financial security and peace of mind
through our insurance, annuity and investment products and services. By
continuing to be a mutual company, our interests are uniquely aligned with
those of our customers. By maintaining superior financial strength, we protect
their future. By acting with integrity and humanity, we earn their trust and
loyalty. Every decision we make, every action we take, has one overriding
purpose — to be here when our customers need us.
Ask your agent today for a customized analysis that shows how adding whole
life insurance to your portfolio can enhance its returns.
2
The average of a probability distribution of possible returns. Used as a measure of expected performance associated
with an asset or a portfolio.
3
A measure of the dispersion of data from their mean. Calculated as the square root of variance. Used as a measure of
expected risk or volatility associated with an investment or a portfolio.
4
All guarantees are based on the claims-paying ability of the issuing company.
5
Dividends are not guaranteed.
6
Varies by state.
7
Provided the policy is not a modified endowment contract (MEC).

4. New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
www.newyorklife.com 14551(08/10) | SMRU 00424694CV(Exp.08/02/12)
In Oregon, the Whole Life policy form number is 208-50.27. The rider form
numbers are as follows: Disability Waiver of Premium: 208-225; and Option
to Purchase Paid-Up Additions rider: 208-330.
Disclosures
n This analysis is based in part on the study, “Estimating Expected Return and
Standard Deviation of New York Life Insurance Company General Account
for Investors,” Ibbotson Associates, 2009.
n The expected return and standard deviation for insurance products used in
the study are estimated based on a model portfolio constructed to
approximate the gross asset class returns within the underlying investment
portfolio associated with New York Life Whole Life insurance policies.
n For this analysis, gross returns are used ignoring expenses and mortality
costs, which will vary based upon your age, underwriting risk classification,
and the number of years you hold the policy. The analysis assumes you will
hold the policy for 30 years, and it reflects probable long-term performance.
In early years, where significant cash value has not yet accumulated, internal
rates of return on cash value will be lower.
n There can be no assurances that any financial strategy will be successful.
Your actual results will vary based upon your individual situation and the
actual performance of any products or investments you ultimately decide
to purchase.
n You should consult your insurance agent and review a complete illustration
for the policy you are considering before making an insurance purchase
decision. This analysis does not suggest the actual outcome of any specific
New York Life product or imply that a personal investment into New York
Life’s general account is possible.