For Internal Use Only. Not for Distribution to the General Public.
Policy Purchase Option Rider (PPO)
The Policy Purchase Option Rider gives clients the opportunity to purchase additional coverage without evidence
of insurability. The rider allows you to purchase a new policy every three years on your policy’s anniversary date.
These scheduled option dates are the policy anniversaries when the insured’s age is 22, 25, 28, 31, 37, 40, 43, and
46. The option is not available after age 46.
• Products featuring rider: Custom Whole Life, Whole Life, Level Premium Convertible Term 10-20, and Yearly
• The rider must be selected upon issue of the original policy. Some illnesses or occupations may disqualify
applications for coverage or make premiums more expensive.
• Charges for the Policy Purchase Option Rider will vary based on the payer’s risk class and face amount.
• Lifetime maximum PPO for a PI is $150,000
• Answer Smoker question / Part 2 to get a non-smoker rating when exercising PPO
Age at Original
at These Ages
aximum Option Amount*
at Each Option Date is the
0-21 9 22, 25, 28, 31, 34, 37, 40, 43, 46 $150,000 or 5X face amount
22-24 8 25, 28, 31, 34, 37, 40, 43, 46 $150,000 or 2X face amount
25-27 7 28, 31, 34, 37, 40, 43, 46 $150,000 or 2X face amount
28-30 6 31, 34, 37, 40, 43, 46 $150,000 or 2X face amount
31-33 5 34, 37, 40, 43, 46 $150,000 or 2X face amount
34-36 4 37, 40, 43, 46 $150,000 or 2X face amount
37 3 40, 43, 46 $150,000 or 2X face amount
38-39 3 40, 43, 46 $150,000 or 2X face amount
40-42 2 43, 46 $150,000 or 1X face amount
43 1 46 $150,000 or 1X face amount
* If you wish, you can select an option amount smaller than the maximum option amount shown above as long as it is at least $25,000. In determining the maximum
option amount, in-force insurance must be taken into account. Ask your New York Life agent to help you determine the maximum option amount for each policy.
Juveniles are dened as clients 0 to 17 years of age. For juvenile insurance the parents should have at least the
same amount of insurance in force or pending as applied for the child, unless the parent is uninsurable. All siblings
should have the same amount of insurance in force or applied for.
If the jurisdiction of the policy is NY, then the NY 2x4x rule applies on juveniles.
• For children aged 4 years 6 months and under, the child’s coverage must be no more than 25% of the amount of
life insurance in force on the parent/guardian owner.
• For children aged over 4 years 6 months to 14 years 6 months, the child’s coverage must be no more than 50% of
the amount of life insurance in force on the parent/guardian owner.
• Only the amount of insurance coverage on the parent/guardian who owns the policy may be considered.
• If both parents own the policy, the amount of coverage may be combined in determining the amount for the child.
• If there is no coverage on the owner/parent, the maximum allowable coverage is $50,000.
• When a grandparent is named owner, the NY state regulation does not apply, but it is expected that the parents
should have at least an equal amount of insurance in force.