Whole life goes limited-pay.(Life)(New York Life Insurance Co introduces custom whole life Insurance)(Brief article)

Best's Review, October, 2006

New York Life Insurance Co. has created a whole life product that allows buyers to decide at purchase how long they want to pay premiums. Custom Whole Life Insurance provides the benefits of the whole-life concept, but allows paid-up policyholders the option to withdraw or borrow lump sums from cash values or draw an income stream for supplemental retirement income if the owner no longer needs the full death benefit.