New York Life Insurance Company had a great first half of 2010 thanks to their sales of long term care insurance, fixed annuities, and mutual funds. According to Insurance News Net’s “New York Life Sees 47% Rise in Life Insurance Sales in First Half of 2010,” the largest mutual life insurer in the U.S. and its 11,500 agents will remain leaders in their marketplace.
The 47% increase in sales of individual life insurance is even in comparison to 2009’s all-time record sales. Their Custom Whole Life insurance allows consumers to choose how long they pay their premiums. Sales increases of permanent insurance and term products helped the growth this year. Americans choose New York Life for their stability, guarantees, and exceptional agents. Clients are choosing whole life policies because of the death benefits they offer as well as the cash value benefits you get while living. New York Life has the largest portion of new life insurance premiums in the U.S.
With a record $870 million in new lifetime income annuity sales for the six-month period, New York Life is grateful to its sales agents and third party distribution channels. Their fixed immediate annuity products have much value to offer both pre-retirees and retirees. New York Life has recently had their financial security ratings affirmed by all four agencies so they are an obvious choice for the guaranteed lifetime income offered by fixed immediate annuities. Long term care insurance purchases are also increasing because of the surge in health care issues associated with living a longer life. New York Life’s mutual funds are seeing sales increases as well because of their widespread field of agents and distribution channels across the U.S.