Reduce your clients’ out-of-pocket costs with the PDA
New York Life’s Premium Deposit Account can reduce your client’s out-of-pocket costs by over 25% on a 10-Pay Whole Life policy, amounting to more than two premiums at current rates!² Available for a limited time through January. (PDA does not discount premiums. The PDA credited interest is applied directly to premiums, reducing out-of-pocket costs.)
The Premium Deposit Account (PDA) applies an interest rate to the premiums in order to reduce out-of-pocket costs, it does not reduce premiums. The PDA rate is increasing to 12.00% for the first year followed by 6.00% in subsequent years when 4 or more premiums are funded through the PDA.
The PDA is used to fund a Custom Whole Life, Secure Wealth Plus, VUL Accumulator II, or Market Wealth Plus policy in a lump sum without creating a modified endowment contract.
Contact me for more information about this limited time program, or for any other marketing materials and illustrations.
¹Eligible on four or more life insurance premiums funded through a Premium Deposit Account. The first-year rate does not reflect the effective yield of the Premium Deposit Account, which will vary based on how long the premium-paying period is and will be lower than the first-year rate stated above. A Premium Deposit Account is designed to fund a Custom Whole Life policy in a lump sum and offers a guaranteed interest rate that is applied to the payment of premiums, reducing out-of-pocket costs. Premium Deposit Account rates are subject to change. Guarantees are based on the claims-paying ability of the issuer. A penalty may apply if the Premium Deposit Account is surrendered. Any interest earned on the PDA will be taxable and, subject to requirements, will be reported to you on IRS Form 1099-INT.
²The out of pocket % savings shown are based on a 12% first year Premium Deposit Account rate and a 6% rate thereafter.
