Introduction:
New
York Life Insurance Company is largest American mutual life insurance company.
New York Life Insurance Company was established in 1845 A .D. Since then, it has
been serving actively to Americans publics with reliable financial security and
life insurance service. It has spent its 170 years of valuable time with
customers and has enriched its experience with American valuable customers in
the field of financial security and life insurance service. Today it has been successful
to stand as a leading insurance company in the American market with lucrative
policy and reliable insurance service. After the success of 170 years of long
period, now, it is celebrating its 170th anniversary of strength and
security, and is looking forward towards more fortune future.
Company Details:
Company Name : New York Life Insurance Company
Service : Insurance
Service
Founded :
1845
A .D
Address :
New York City ,
New York , United
States
New
York Life Insurance Company has a mission to provide financial security and
assurance through its products and services. New York Life Insurance Company
has a long-term vision to respect the core values of humanity, integrity, and
help the public with reliable financial security. It respects the interest of
public and is always there for customers in needs with its valuable service. Moreover,
moving towards the sustainable development, New Life Insurance Company have a
commitment to maintain good corporate social responsibility, make the most
appropriate use of natural resources, and will continuously deliver its
valuable products and services to its customers.
Corporate
Governance:
Board of Directors
|
||
Ralph de la Vega
|
||
S.
|
Executive Management Committee
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||
Chairman of the Board & Chief
Executive Officer
|
Executive Vice President &
Head of Agency
|
Senior Vice President, Chief Risk
Officer and Chief Actuary
|
President & Chief Investment
Officer
|
Executive Vice President & Chief Financial Officer
|
Senior Vice President, Deputy General Counsel &
Secretary
|
Executive Vice President & President
of the Investments Group
|
||
Executive Vice President, Chief
Legal Officer & General Counsel
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Senior Vice President & Chief Human Resources Officer
|
Products:
New
York Life Insurance Company provides multiple lines of products to its
customers, which can be listed as below:
1. Life
Insurance:
New
York Life Insurance Company provides a life insurance policy for a family, business,
or a favorite charity to secure customers future from uncertain loss or
accidents. NYLIC provides multiple lines of policy to secure life of its
customers from uncertainties and these can be listed as below:
·
Term Life Insurance
·
Whole Life Insurance
·
Universal Life Insurance
·
Variable Universal Life
·
Corporate Sponsored Plans
·
Group Membership Associations
2. Long-term
Care Insurance:
New
York Life Insurance Company provides a long-term care insurance policy, which
offers coverage for a variety of long-term care service from home and community
based care service to assisted living facilities and nursing home coverage. An
inflation protection rider and other optional services can also be added to
this policy. Long-term care insurance is available to the applicants’ with age
group eighteen to seventy-nine in most states.
3. Retirement
Income:
Retirement
Income Product of New York Life Insurance Company offers guaranteed income
annuity that provides guaranteed income during retirements. An applicant can
purchase this policy before or after retirement. Customers needs to pay their
premiums in series of payments in annuity for lump sum and in return customers
will get stream of income for lifetime. New York Life Insurance Company offers
several income annuity products to meet customer needs, which can be listed as
below:
·
New
York Life Guaranteed Lifetime Income
Annuity
·
Changing Needs Option
·
New
York Life Guaranteed Future Income
Annuity
·
New
York Life Lifetime Mutual Income
Annuity
·
New
York Life Future Mutual Income Annuity
4. Investment
Annuities:
An
investment annuity offered by New Life Insurance Company is a financial product
designed to help customer prepare for retirement plan. An investment annuity
provides a secure saving to customers fund with certain growth and even helps
to protect some retirement assets.
·
Variable Annuities:
New York Life Insurance
Company Offers a variable annuity, which is a long-term financial product that
helps individual customer to invest for retirement plan. Investors should
carefully consider their investment objectives, charges, risks, and expenses of
the investment before investing in
variable annuities.
·
Fixed Annuities:
A fixed or deferred
annuity from New Life Insurance Company is a long-term financial product
designed to help customer grow and protect their funds. Under a fixed or
deferred annuity plan, fund will grow tax-deferred and at a guaranteed fixed
rate of interest. This means customers fund will not suffer volatility of
market and customers do not need to pay tax on their earnings until they
withdraw fund from the policy. Here are some fixed annuity products of New Life
Insurance Company:
·
New
York Life Secure Term Choice Fixed
Annuity
·
New
York Life Secure Term MVA Fixed Annuity
·
New
York Life Preferred Choice Fixed
Annuity
·
New
York Life Flexible Premium Fixed
Annuity
·
New
York Life Clear Income Fixed Annuity
·
New
York Life Fixed Deferred Annuity Riders
5. Mutual
Funds:
Mutual
Fund is an investment company that pools the money from individual investors
and institutions, and invests it on their behalf. Mutual fund can invest funds
in bonds, stock, futures, options, currencies, money market, or other
securities that exists in the market. Mutual funds are offered through a
licensed and registered representative of New York Life Securities LLC (member
of FINRA and SIPC) a licensed insurance agency, and a subsidiary of New York
Life Insurance Company.
6. New York
Life Rewards Visa Card:
New
York Life Insurance Company offers a New York Life Rewards Visa Card to its
customers, which helps them to maintain good credit and financial stability. A
customer can earn a reward points for every dollar they spends. All points will
expire after five years.
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