New York Life introduces MyIncome Protector
New York Life Insurance announced the launch of MyIncome Protector, the first in a suite of solutions designed to replace a portion of income in the event of a disability.
MyIncome Protector helps consumers protect a significant portion of their income (between 50-70%) should they become disabled. It can be used to supplement benefits that may be received under employer benefit programs, and it provides a permanent and completely portable benefit for consumers, with premiums guaranteed until age 67. It also features unique benefits for small business owners and medical professionals.
MyIncome Protector is available in 42 states and the District of Columbia, exclusively through New York Life financial professionals.
“Disability insurance helps protect what is often consumers’ greatest asset: their ability to earn an income. With one in four 20-year-olds likely to become disabled at some point before retirement, it’s important to protect against the loss of income with a solution that helps maintain a family’s lifestyle and savings potential by providing funds to pay ongoing household expenses. The launch of MyIncome Protector builds on our suite of protection-oriented solutions and enables New York Life’s financial professionals to provide trusted guidance and help their clients become more financially secure.” – Aaron Ball, SVP and head of insurance solutions, service and marketing, New York Life.
“An important component of a sound financial plan, disability insurance is a valuable and portable financial protection tool. MyIncome Protector marks the first of a series of innovative solutions backed by the superior financial strength of New York Life. MyIncome Protector provides a monthly disability benefit if the insured becomes disabled, and offers three definitions of total disability to choose from. These unique product packages – Core, Pro and Max – are available with different definitions of disability and a range of benefits, 11 rider options, and the ability to create a custom policy. Clients can work with their New York Life financial professional to choose the right coverage for their needs and budget.” – Paul Fromm, VP and head of disability income solutions, New York Life.
