FAQ's: Frequently Asked Questions

How has New York Life been impacted by turbulence in the financial markets?
We maintain a well-diversified, conservative investment portfolio that includes very little exposure to the problem areas in today’s market.  Our disciplined investment approach enables us to continue to have have remarkable resilience amid turbulent times and billions of dollars of surplus more than needed to be confident we can meet our obligations to policyholders. 

As a mutual insurance company, New York Life does not offer shares of stock on public exchanges. Rather, it is operated and maintained solely for the benefit of its members, or policyowners.

Publicly traded life insurance companies face a constant trade-off between policyholders and shareholders. In contrast, every dollar of value we create goes to benefit our policyholders, now and in the future.

Perhaps the most important benefit of mutuality for our policyholders is that it allows us to keep a long-term perspective in all our decision-making. This is crucial when we are making promises we will be keeping 20, 30, or 40 years into the future.

And our independence from the demands of outside investors and Wall Street analysts means that we have the freedom to walk away from investments or sales practices that offer potentially strong near-term returns but may not be in our policyholders’ long-term best interests. Because of our mutuality, New York Life has a long history of taking contrarian stands that have proved to be very sound decisions.

When times are good, publicly traded and mutual life insurers generally both perform well. But when times are bad, the benefits of mutuality shine clearly. And today is no exception.

How long has New York Life been in business?
New York Life first opened for business in 1845 as Nautilus Insurance Company. We became New York Life Insurance Company in 1849.  We are the nation’s oldest and largest mutual life insurance company.

How large is New York Life?
New York Life, including its subsidiaries, is a Fortune 100 company. We have offices nationwide and internationally, we have offices in Argentina, China, Hong Kong, India, Mexico, South Korea, Taiwain, and Thailand.

Who are some of New York Life's major clients?
Some of our more recognizable clients include the Air Line Pilots Association, American College of Surgeons, New York Bar Association and The American Institute of Architects. Over the course of our history, we have also insured many United States Presidents and a host of famous political, social, business, and military leaders, professional athletes, and entertainers.

Who is on your Board of Directors?
Click here for information about our Board of Directors.

What are ratings? Why are they so important?
Independent ratings for insurance companies are based on their financial strength and ability to pay claims - two critical factors in choosing an insurer. The higher a company is rated, the stronger and more reliable it is. Four major companies — Fitch, Moody's Investors Service, Standard & Poor's, and A.M. Best — have all given New York Life and NYLIAC (our annuity subsidiary) their highest ratings. Find out what the rating agencies say for more information.

What products and services does New York Life offer?
On the insurance side, New York Life and its subsidiaries offer traditional life insurance and annuities.  On the investment side, New York Life's subsidiaries provide institutional asset management and trust services and, through a subsidiary, NYLIFE Securities LLC (member FINRA/SIPC, a Licensed Insurance Agency), provide an array of securities products and services such as institutional and retail mutual funds, including 401(k) products.  You can click the following highlighted links for further information on the products and services I offer.

What makes New York Life different? Why should I buy from you?
Throughout its 163+ year history, New York Life has built a reputation for integrity and financial strength. Highly trained agents such as myself are required to continue our educations throughout our careers, ensuring we will be knowledgeable and responsive to your needs. Most importantly, for over seven generations, we have been there for our customers when they needed us most. And I am committed to carrying on this proud tradition.

How are New York Life agents selected and trained?  Is a career with New York Life right for me?
All New York Life agents must complete a rigorous training course, called NYLIC University, before they can sell our products.  After that, they are required to continue their professional educations throughout their careers.  In each general office, we consider hiring candidates that display initiative, intelligence, and character.  If you're interested in becoming an agent you can obtain more information here and then contact me in order to schedule an interview.  Please specify "Career Opportunity" in the subject line.

Is there a fee required to arrange a consultation with you?
No, the services I offer are provided on a complimentary basis and are free of charge. 

How can I purchase a product from New York Life?
Insurance products must be purchased through an agent such as myself, who will work closely with you to determine your needs and the best product to fill them.  As a registered representative of NYLIFE Securities LLC (member FINRA/SIPC, a Licensed Insurance Agency) I can also assist you with the purchase of mutual funds.

Contact me in order to schedule an in-person consultation.