New York Life Insurance Company: one of the largest American mutual life insurance company

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 170^th 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

Website/ URL            : www.newyorklife.com

Mission and Values:

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
Betty C. Alewine	Kent B. Foster	Thomas C. Schievelbein
Michele G. Buck	Christina A. Gold	Gerald B. Smith
Ralph de la Vega	Theodore A. Mathas	William G. Walter
Mark L. Feidler	S. Thomas Moser

Executive Management Committee
Theodore A. Mathas Chairman of the Board & Chief Executive Officer	Mark W. Pfaff Executive Vice President & Head of Agency	Joel M. Steinberg Senior Vice President, Chief Risk Officer and Chief Actuary
John Y. Kim President & Chief Investment Officer	John T. Fleurant Executive Vice President & Chief Financial Officer	Susan A. Thrope Senior Vice President, Deputy General Counsel & Secretary
Christopher O. Blunt Executive Vice President & President of the Investments Group	George Nichols III Senior Vice President incharge of the Office of Governmental Affairs
Sheila K. Davidson Executive Vice President, Chief Legal Officer & General Counsel	Katherine R. O’Brien 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.