New York Life Insurance
The New York Life Insurance Company has been around since 1845. It is the largest provider of life insurance in the United States, and not surprisingly The New York Life Insurance Company has been named to Wards Top 50 Life Insurance Producers for 2009. The company is ranked as #76 in the 2009 Fortune 100, and is quite possibly one of the largest life insurers in the world. As of June 2009, all three of the most respected insurance company raters, A.M. Best, Standard and Poor's, and Moody's all conferred upon the New York Life Insurance Company their "superior" rating for financial strength.
The company is now one of only three life insurers to hold the highest possible rating from all of the major rating agencies.
The company has stayed strong and resilient throughout the 2007-2008 financial crisis, and has reused to participate in the Troubled Asset Relief Program (TARP) and has not taken any kind of federal bailout.
The Current President and CEO is Ted Mathas
The Company is headquartered in New York, NY
New York Life and its subsidiaries reported more than $26 billion in total revenue as of 2007/2008 and more than 12,000 employees.
According To the Company
New York Life is licensed to sell life insurance in all 50 states and the District of Columbia. In addition to Term and Permanent Life insurance polices the company also sells various annuities and mutual funds and also offers long-term care insurance.
- New York Life (NYL) offers:
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
- Variable Life Insurance
New York Life wants life insurance consumers to understand that there are many “Living Benefits” of life insurance. “Living Benefits” apply to Permanent Life Insurance polices that accrue cash value such as Whole Life insurance. Living benefits can help pay for life’s expected and sometimes unexpected expenses. Funds are accessed by tapping into the cash value accumulated within your Whole Life policy, which as it builds, is like funding a line of credit for Whole Life insurance policyholders.
More information: www.newyorklife.com