About Us - Learn why we are here for you | New York Life (2024)

FAQs

What was the New York Life scandal? ›

Employee Progress-Sharing Investment Plan, alleged the company and its 401(k) plan executives violated the Employee Retirement Income Security Act of 1974 by filling the plans with proprietary investment products that provided "windfall profits" to New York Life and its affiliates at the expense of participants.

Our mission is to provide financial security and peace of mind through our products and services. Our long-term view and core values of humanity, integrity and financial strength associated with that mission underscore our genuine concern for the markets and environment in which we do business.

Record $2.2 billion dividend payout in 2024

New York Life declared a record dividend of $2.2 billion to eligible participating policy owners in 2024, the largest in company history. Paying a dividend² for a 170th consecutive year highlights New York Life's ability to deliver ongoing value to policy owners.

We don't just talk about a great place to work – we put it into practice by fostering an award-winning environment. Our collegial, flexible, and family-like atmosphere is a welcoming place where everyone can feel valued and supported.

The case against New York Life, which was filed in 2021, alleged that the insurer engaged in self-dealing by including the company's Fixed Dollar Account as the default investment option, as well as several of its MainStay-brand mutual funds.

New York Life insurance reviews

It also has strong financial ratings from all major credit rating agencies, including AM Best, which gave it the highest rating available: A++ (Superior).

New York Life believes strongly in the power of human guidance which is delivered in communities across the U.S. by New York Life's industry leading, best-trained, and highest- achieving agent force8 of over 12,000 financial professionals.

We answer to our policy owners, not to Wall Street

New York Life is a mutual company, meaning we are not traded on the stock exchange, we don't have shareholders, and we don't answer to Wall Street. We answer to and operate for the benefit of current and future policy owners.

Dividends on whole life insurance are not guaranteed but New York Life has paid them every year since 1854.

Does New York Life pay out? ›

Generally, yes. Depending on how you choose to get your life insurance payout, you will likely be subject to some fees and may owe taxes.

Whether you're getting close to retirement or already retired, we'll work with you to select an income annuity that protects your savings while supporting your lifestyle.

Average New York Life Insurance Agent yearly pay in California is approximately $83,610, which is 43% above the national average.

There's a lot more to our compensation structure. But rest assured, if you're ambitious, you can earn a rewarding income. Talk to a New York Life recruiter today to find out more about how rewarding a career as an insurance and financial professional can be, or visit newyorklife. com/careers/sales-careers.

Jayson Thomas Blair (born March 23, 1976) is an American former journalist who worked for The New York Times. He resigned from the newspaper in May 2003 in the wake of the discovery of fabrication and plagiarism in his stories. Columbia, Maryland, U.S.

It depends on the type of annuity you purchase. While all investments carry some level of risk, fixed deferred annuities are fairly safe because they come with a guaranteed minimum interest rate. This means that New York Life assumes all the investment risk, so your payout is not affected by market fluctuation.

30 In 1963, Eddie Lee Mays became the last person executed in New York State.

New York & Company declared bankruptcy in July of 2020, citing COVID-19 as the main factor. But in truth, the company had been on death's doorstep for years. New York & Company sells women's workwear, casual apparel, and accessories to women between the ages of 25 and 49.