New York Life
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UPDATED: Aug 20, 2020
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- New York Life Insurance and Annuity Corp.
- New York Life Enterprises LLC
- NYLIFE Securities LLC
- Nautilus Group
- And many others
Company History: Founded 1845, New York Life’s capital position is among the strongest in the financial services industry.New York Life is the largest mutual life insurance company in the United States. Unlike several other large mutual life insurers, New York Life has not changed to stockholder ownership and has continued to focus on traditional life insurance and annuity products through the parent company and several subsidiaries. New York Life was incorporated in 1841, began business in 1845 and adopted the present name in 1849. New York Life offers certain products through AARP and other distribution channels, but primarily New York Life’s marketing and sales efforts take place via its career agency force, which is one of the most productive agency forces in the industry. New York Life has over 12,250 licensed agents. About one of every six MDRT agents in the United States is with New York Life and about one-third of New York Life agents are MDRT members. In addition to traditional life insurance and annuity products, New York Life sells variable life and annuity products, interest rate sensitive products, single and flexible premium fixed and variable annuities, universal and variable life, Corporate Owned Life Insurance (COLI) and Bank Owned Life Insurance (BOLI). COLI and BOLI sales are mostly through brokers and sales of annuities through banks have been increasing. Other products include mutual fund sales to individuals, investment management services to institutional investors, long term care insurance and other products sold through affinity groups and professional associations. New York Life’s international business is active in Hong Kong, China, Mexico, Argentina, South Korea, the Philippines, Thailand, India and Taiwan. New York Life Insurance Company earns top marks for financialstrength from all the major independent rating agencies including thehighest possible rating from Moody’s Investors Service, Fitch Ratingsand A.M. Best.
Principle Sales Methods: Career agents.
Life Annuity Business: New York Life offers a broad spectrum of life insurance products to individuals and companies nationwide, such as term life insurance, whole life insurance, universal life insurance, variable universal life, etc.
Special Business: New York Life also offers a broad spectrum of investment annuities, mutual funds, and retirement plan services to individuals and companies nationwide.