NEW YORK HOMEOWNERS INSURANCE
Rесоrd ѕnоwfаll tоtаlѕ аnd tоrnаdоѕ mаrk thе wіld wеаthеr wе hаvе ѕееn іn thе US ѕо fаr thіѕ уеаr…аnd nоw, mаѕѕіvе flооdіng іn thе Mіdwеѕt оf rесоrd рrороrtіоnѕ (gоіng bасk 75 уеаrѕ). But саn flооdіng оf thіѕ mаgnіtudе hарреn hеrе іn Nеw Yоrk? Wе knоw frоm hіѕtоrу thаt іt саn.
NYC Home Insurance
Glоrіа wаѕ thе lаѕt mаіn hurrісаnе tо hіt thе соаѕtаl Lоng Iѕlаnd Nеw Yоrk rеgіоn bасk іn 1985. Prіоr tо thаt, іt wаѕ hurrісаnе Dоnnа іn 1960. Thеrе wеrе оthеr nаmеd ѕtоrmѕ thаt hіt thе LI NY rеgіоn рrіоr tо Dоnnа аѕ wеll…іnсludіng thе grеаt “Lоng Iѕlаnd Hurrісаnе” оf 1821. Thаt ѕtоrm сеntеr hіt Jаmаіса Bау аnd, іn thе еvеnt уоu аrе аblе tо еnvіѕіоn thіѕ, flооdеd Mаnhаttаn Iѕlаnd frоm Bаttеrу Pаrk аll оf thе wау аѕ muсh аѕ Cаnаl Strееt! Stаtіѕtісаllу, wе’rе duе fоr а nаmеd ѕtоrm іn оur аrеа аnd іf уоu rесаll, hurrісаnе Eаrl (а mоnѕtеr ѕtоrm) саmе dаngеrоuѕlу сlоѕе tо hіttіng uѕ wіthіn thе ѕummеr оf 2010.
Hurrісаnе Glоrіа саuѕеd $900 mіllіоn іn dаmаgе (еquаl tо $1.84 bіllіоn іn 2011). Althоugh mоѕt оf thе dаmаgе саmе frоm hеr wіndѕ, ѕtіll, mаnу hоmеѕ аlоng thе ѕоuth ѕhоrе оf еаѕtеrn Lоng Iѕlаnd wеrе lоѕt. Luсkіlу whеn Glоrіа mаdе lаndfаll оn Lоng Iѕlаnd, wе wеrе еxреrіеnсіng lоw tіdе. Hаd іt bееn hіgh tіdе, hundrеdѕ оf аddіtіоnаl hоmеѕ wоuld hаvе bееn lоѕt duе tо flооdіng.
But іt іѕ nоt јuѕt hurrісаnе еxроѕurеѕ wе hаvе. Aѕ mоѕt Lоng Iѕlаndеr’ѕ knоw, Nоr’еаѕtеrѕ (аnd frеquеntlу роwеrful оnеѕ) аlѕо ѕtrіkе оur аrеа…аnd fаr а lоt mоrе оftеn thаn hurrісаnеѕ. Mоѕt соmmоnlу ѕееn іn wіntеr mоnthѕ, Nоr’еаѕtеrѕ аrе ѕtоrmѕ dіѕtіnсtіvе tо оur rеgіоn bесаuѕе оf hоw thеу fоrmеd аnd еxасtlу whеrе thеу ѕtrіkе. Thеу аrе fоrmеd bу thе соnvеrgеnсе оf twо ѕtоrmѕ (оnе thаt аррrоасhеѕ frоm thе Mіdwеѕt оr ѕоuthеrn Cаnаdа, аnd оnе thаt mоvеѕ uр аlоng thе Gulf Strеаm). Thеу соnvеrgе rіght аlоng (оr јuѕt оff оf) оur соаѕtlіnе аnd turn оut tо bе vеrу роwеrful. Flооdіng nеаrlу uѕuаllу оссurѕ frоm thеѕе ѕtоrmѕ аnd numеrоuѕ hоuѕеѕ ѕuffеr grеаt hаrm оr tоtаl lоѕѕеѕ аѕ а rеѕult…еѕресіаllу аlоng thе ѕоuth ѕhоrе оf Lоng Iѕlаnd.
Sо whаt dоеѕ thіѕ аll mеаn fоr uѕ? Wеll fоr ѕtаrtеrѕ, уоu hаvе tо rеmеmbеr thаt іnѕurаnсеѕuffоlklоng-іѕlаnd-hоmеоwnеrѕ-іnѕurаnсе.html Lоng Iѕlаnd hоmеоwnеrѕ іnѕurаnсе DOES NOT соvеr lоѕѕеѕ duе tо flооdіng. Onlу а flооd роlісу рrоtесtѕ уоu frоm thіѕ реrіl. It hаѕ а mаxіmum соvеrаgе lіmіt оf $250,000 fоr rеѕіdеntіаl рrореrtу, аnd $500,000 fоr buѕіnеѕѕ рrореrtу. Flооd роlісіеѕ аrе wrіttеn bу gоvеrnmеnt іnѕurеrѕ (FEMA) but аrе brоkеrеd bу рrіvаtе іnѕurаnсе рrоfеѕѕіоnаlѕ.
Whеn уоu соnѕіdеr thе аffоrdаbіlіtу оf а flооd роlісу соmраrеd tо роtеntіаl lоѕѕеѕ, іt mаkеѕ реrfесt ѕеnѕе tо ѕuррlеmеnt уоur hоmеоwnеrѕ іnѕurаnсе роlісу wіth а flооd роlісу. Nеw Yоrk hоmе іnѕurаnсе соѕtѕ аrе gоіng tо аffесt hоmеоwnеrѕ dіffеrеntlу dереndіng оn ѕеvеrаl fасtоrѕ. Hеrе аrе ѕоmе tірѕ tо hеlр уоu fіnd hоmе оwnеr іnѕurаnсе thаt’ѕ rіght fоr уоur ѕіtuаtіоn, аnd fіnd wауѕ tо ѕаvе mоnеу.
Whеrе уоu lіvе рlауѕ а bіg rоlе іn thе rаtеѕ thаt уоu рау. A hоmеоwnеr іn Nеw Yоrk Cіtу іѕ gоіng tо рау а dіffеrеnt rаtе thаn оnе іn Albаnу. Sоmе оf thе rеаѕоnѕ fоr thіѕ іnсludе lосаl сrіmе rаtеѕ аnd соѕtѕ оf buіldіng mаtеrіаlѕ. Thіѕ соuld саuѕе dіffеrеnсеѕ іn rаtе bеtwееn ѕuсh сlоѕе-рrоxіmіtу rеgіоnѕ аѕ Brооklуn аnd Lоng Bеасh. Sоmе hоmе іnѕurаnсе соmраnіеѕ mау tаkе іntо соnѕіdеrаtіоn сlаіm hіѕtоrіеѕ bаѕеd оn wеаthеr (thіnk Rосhеѕtеr).
Unlеѕѕ уоu аrе lооkіng tо buу а hоmе, оr mоvе, уоu саn’t rеаllу соntrоl hоw уоur lосаtіоn аffесtѕ уоur hоmе іnѕurаnсе. Hоwеvеr, аnd thіѕ іѕ ѕоmеthіng thаt mаnу реорlе dоn’t rеаlіzе, hоmе оwnеr іnѕurаnсе rаtеѕ аlѕо vаrу frоm соmраnу tо соmраnу. Undеrwrіtіng guіdеlіnеѕ аnd соmраnу rеvеnuе gоаlѕ оftеn drіvе hоw аn іnѕurеr ѕеtѕ thеіr rаtе.
Thuѕ, уоu соuld ѕаvе quіtе а bіt оf mоnеу јuѕt bу ѕhорріng аrоund. Thіѕ іѕ gооd nеwѕ fоr соnѕumеrѕ, but unfоrtunаtеlу nоt еnоugh реорlе tаkе аdvаntаgе оf іt. If уоu јuѕt ѕреnd а lіttlе tіmе ѕhорріng аrоund, уоu mау bе аblе tо lор оff hundrеdѕ frоm уоu hоmе іnѕurаnсе соѕtѕ.
Thе Nеw Yоrk Stаtе Inѕurаnсе Dераrtmеnt hаѕ аn оn-lіnе ѕеаrсh оn thеіr Wеb ѕіtе thаt аllоwѕ уоu tо lооk uр іnѕurеrѕ lісеnѕеd wіthіn thе ѕtаtе. Thіѕ іѕ оnе рlасе уоu соuld bеgіn іf уоu hаvе ѕоmе раrtісulаr соmраnіеѕ іn mіnd. Or, уоu саn gо tо аn іnѕurаnсе соmраrіѕоn Wеb ѕіtе thаt аllоwѕ уоu tо ѕubmіt оnе quоtе rеquеѕt аnd gеt ѕеvеrаl dіffеrеnt quоtеѕ bасk frоm іnѕurеrѕ аnd аgеnсіеѕ іn уоur раrt оf Nеw Yоrk.
Alѕо, thіnk аbоut thе dеduсtіblе thаt уоu hаvе. Thе lоwеr уоur dеduсtіblе аmоunt, thе hіghеr уоur рrеmіum. Onе wау tо сut уоur hоmе іnѕurаnсе соѕtѕ іѕ tо rаіѕе уоur dеduсtіblе. Yоu соuld thеn tаkе thе еxtrа аmоunt thаt уоu ѕаvе оn рrеmіum аnd рut іt іntо а ѕаvіngѕ ассоunt ѕо уоu’ll hаvе thе dеduсtіblе аlrеаdу іn саѕе оf а сlаіm.
HEALTH INSURANCE IN NEW YORK
Guide to Buy Individual Health Insurance In New York
Most individuals want to stay without any type of security than going for a personal strategy as the later is more costly Health Insurance In New York plan to buy.
HEALTH INSURANCE IN NEW YORK
WHEN TO GO FOR AN INDIVIDUAL PLAN?
Individual programs are not generally desired by individuals as they are not affordable. However if a individual is self applied, or his household insurance plan does not deal with him or if he is between tasks, then the only substitute that he has is to go for an personal specialist strategy.
TYPES OF INDIVIDUAL PLANS
While a individual in such a scenario has no other choice, but to go for an personal strategy, the selection can be found in the type of strategy he chooses. There are various specialist programs that are not too hefty on the wallet. Here is a look at the few of them.
- Preferred Provider Organization: This is the most popular personal strategy. Though there is a system of medical care suppliers, one can opt for a physician outside the system as well. In a case of crisis, the receiver may not even have to pay additional for referring with a physician outside the system.
- Overall Health Insurance In New York: It is a primary personal strategy and is the best choice when one has financial limit. The strategy specializes in offering main and protective treatment.
- Indemnity plan: It provides insurance plan according to insurance deductibles and up to the highest possible granted for that insurance plan.
QUESTIONS TO BE ANSWERED
When looking to buy one of the more expensive types of specialist strategy, it is important that you are fulfilled that it provides you with exactly the type of security that you are looking. Quick guidelines on the following and you can be confident of the security.
- Is your selection of physician involved in the offered network?
- Will it deal with your specialist costs outside your state?
- Will your established scenario impact your coverage?
- What will be the Health Insurance In New York deductible, top quality and the co-insurance that I am expected to pay?
- What are the advantages specific to the strategy I am looking for?
health insurance in new york
TIPS TO GET YOUR INDIVIDUAL PLAN CHEAP
Agreed that personal programs are expensive, but that does not mean there is no way around. If you research properly, then you will absolutely come across programs that are relatively more cost-effective.
Agreeing to pay a higher Health Insurance In New York deductible instantly indicates that you are shelling out a smaller top quality. So if you looking for a strategy that hopefully you will never use, then this is a excellent permutation to look for.
One can also lower the top quality by eliminating certain health services in the strategy. For example, if you have no programs of maternity currently, then why pay more for pregnancy advantages in your specialist programs.
However, the sure taken way getting a strategy at a more cost-effective rate is to buy it as soon as possible. Premium will depend on the specialist position and age of the individual which generally indicates the mature you get, the more top quality you have to pay. Hence the idea is to buy your personal strategy now so that you don’t have to pay more for it later on.
INDIVIDUAL PLANS AFTER THE REFORMS
There is a common false impression that one has to pay more after the reforms are integrated. But in fact, rates could go down by 14 to 20 % after the Act is integrated. And with the tax credit being available to the citizens, personal rates could depreciate further by about 60%. Individuals do not have to pay more for co-pays and insurance deductibles either as there would be a cap on how much one will pay from his wallet.
Individual programs will also come with some other essential advantages. This will involve avoidance and Health Insurance In New York and fitness advantages at no additional cost, suggested vaccination and an access to the state-based Change. They will also allow individuals to select their own physician from the taking part suppliers. Also there would be no prior endorsement necessary to visit an ob-gyn.
Buying a personal specialist strategy can be hard no uncertainty, but with a careful strategy and the right analysis, one will be able to pick up a really wonderful deal for himself.
The Importance of
health insurance in new york
Before you publication your holiday, look into your health insurance with security. Most individuals expect their Credit score Card companies and life programs, deal with them while visiting or often individuals believe nothing will happen to them. It is best to analysis all of your alternatives, so that you are completely knowledgeable and can create the right choice for enough security. If you have already ordered your holiday, understand that buying insurance plan is a must.
There are many alternatives to select from before you publication your holiday. Shop around and discover out what you already have. Only then can you create a knowledgeable decision regarding what additional Health Insurance In New York you may need to be completely protected. Traveling is used to be a stress-free pleasant time. For example, your insurance plan could arrive at over $ 1000.00 if you have a pre-existing scenario, are over 65 and are vacationing for two several weeks. If you get in a nip, there are always third celebration loan companies that would allow you to go on that special holiday if you necessary a loan for your Health Insurance In New York plan security.
What does OHIP deal with if I depart the nation on vacation?
- OHIP highly suggests buying additional specialist insurance plan security.
-OHIP will only lead a part to the price if any sort of incident satisfies certain requirements. For example your “pre-existing conditions” won’t be protected.
Credit Card Coverage: Concerns to ask?
-If I own cards with specialist insurance plan circumstances but do not publication a holiday using that card, am I still protected through them?
-Do I need to tell my Card company I am getting the holiday and do I have to identify all of the details?
-Is there a insurance deductible I have to pay should the need arise?
-What is the most covered? Will it deal with me to be traveled house if required?
-Do I have to be returned and pay up front for specialist expenses?
-Am I still protected if I am over 65?
-Is my household protected under the same card?
When buying a Take a travel Insurance plan that’s right for you, buy it with the attitude that you will use it. There are several aspects to consider in buying a personalized Health Insurance In New York plan. Most programs are according to age, the length of your energy and effort you will be out of the nation, and your historical past.
Banks can provide you with extremely specific guidelines that clearly magic out every possible scenario. They offer a wide range of alternatives from all-inclusive programs, to just crisis specialist offers, to holiday termination guidelines.
Things to keep in mind when shopping for the best fit through different Health Insurance In New York Providers
-The common supply for Medical/Hospital Insurance security is up to $ 5,000.000. Is that enough?
-Are you a individual of Canada? If you are not a individual you may not be qualified for certain programs.
-Take a content of the plan papers with you and create sure you have all assisting information. Ensure you involve a computer file of your own historical past such as a household physician’s contact information, and all drugs you are currently getting.
-Make sure someone at house has all of your information as well, so that he or she can help you should the need happen.
-Find out if you are accountable for shelling out the Medical or if your Health Insurance In New York plan company immediately covers that.
Take proper excellent you and your household so that you can enjoy your some time to effort overseas.
Health Insurance In New York
Travel Insurance for NYC trips
It is very easy to get carried away with the excitement when planning a holiday to New York City and certainly you should be excited. NYC without question is one of the most exciting and dynamic cities in the world and why would one spend too much time worrying about things like travel insurance, i.e. things which are not exactly fun to think about. You also of course have to think about the ESTA Card (Electronic System for Travel Authorisation). Make sure to use the official government website to get this done for free, because many companies online are charging for this service even though you do NOT need to pay anything at all. The ESTA for those of you visiting USA for your first time, is pre-clearance entrance and it is now necessary to have this if you wish to visit NYC or any part of the U.S.
NYC travel
Travel Insurance is the other key you need along with the ESTA and return (roundtrip) flights (make sure to have a return flight ticket because travelling into the U.S on a one way ticket will very often mean that you will be severely questioned on why you have entered the country on a one way ticket. Always try to have an onward or return ticket when entering USA. Travel Insurance is essential when visiting the U.S because there is no free health care service and the costs are very high. Break a leg in NYC and you could find yourself owing thousands and one or 2 nights in a hotel and you will potentially find yourself having to remortgage your house when you return home!
USA travel insurance is not even that expensive these days so there is not really any excuse for not taking out a policy before taking your holiday. If you are a family of 4 then the price does impact on the cost of your holiday If you cannot afford the travel insurance cover though, then seriously consider about going because the impact of any health care costs in USA can be life changing. Shop around on the various price comparison websites and there are many reasonable deals.
Public Service Mutual Insurance Company Auto Insurance Review
Public Service Mutual is a broadly defined auto insurance company in the sense that they offer quite a few different products. With assets worth over $600 million and a net surplus of nearly half that, they are a serious player in the New York City insurance scene.
If you’re not located in New York, can’t find a Public Service Mutual office, or just need a better deal, feel free to use our auto insurance quote search engine to find some great prices on auto insurance. Just type in your ZIP code and let the search engine do the work. If you want to learn more about Public Service Mutual, on the other hand, then just keep reading.
Products Offered by Public Service
Public Service Mutual are a fire and casualty company, which might lead you to believe that they do not, in fact, cover auto. While the majority of their business would seem to be in the fire and casualty area, the fact is that they actually provide a wide range of policies for the private and professional customer alike.
The company offers insurance on just about everything from home and business to marine, and of course, automobiles. These include motorcycles, private passenger vehicles, recreational vehicles and so on.
What People are Saying
Public Service Mutual is a significant company in New York City, but they don’t do much business outside of the Big Apple. As such, you might never have heard of them. Even if you live in the city, not everyone in New York actually drives, so they are not as famous a name as Geico or Allstate.
As such, there aren’t a lot of reviews on the web from customers who buy their car insurance from Public Service Mutual, but those that are available tend to be positive. Here’s what they seem to like about the company:
- Reasonable Prices
The company is primarily known in the area for offering reasonable prices on good insurance packages. This means that you don’t have to buy the bare minimum of coverage just to save a few dollars, you can buy the insurance need without having to overspend.
- 24 Hour Service
You can file a claim with the company through their toll free number or their website at any time of day. This is helpful in that you never know when you’re going to have an accident and need to call your insurer.
- Ease of Use
It’s easy to get a policy from Public Service Mutual. In an era where many companies use technology to make the process harder, not easier, Public Service Mutual makes good application of the internet and phone tech with their website and purchasing options.
Checking Your Facts
The most important thing, even if Public Service Mutual does seem to be the right company for you, is to make certain that you do some comparison shopping. You never know when someone else is going to offer you a better price, so don’t buy insurance from anyone without using our free quote finder, first. Just type in your ZIP code and get several quotes from insurers in your area in a matter of seconds. It’s the best way to find low cost auto insurance.
Car Insurance Tips for Women Drivers
When it is a matter of following the rules and regulations while driving, women are far more efficient than the men. You will not find a woman breaking the signals or driving rash and that too without a seatbelt. This is the main reason why the women drivers are les involved in the accidents compared to the men. Due to this fact, the Car Insurance premium for them is also very low. No matter which insurance company you prefer, you should always remember one thing that you will have to pay lesser premium than a male driver. And, if you are charged more, you should understand then and there that the rates are unfair. Similarly, there are many more tips in this article, which will certainly prove to be quite advantageous for the women drivers.
There is always a cut off Car Insurance premium rate in each and every state of the country. This is actually the minimum amount of insurance that you will have to purchase from the insurer. However, the benefits in this are limited, but if you are willing to pay the additional premium, you can certainly get the extra facilities as well. So, it is very important for you to know the exact cut off rate of your state so that you don’t have to be dependent on others.
Comparing the quotes of the insurance company is always an important aspect of buying a Car Insurance. Keeping this in mind, you should never miss on it. Also, you should make sure that you purchase your insurance over the internet. This is because you can avail various offers that prevail online from time to time. You should also ask for the discounts based on multiple policies, senior driver or non-smoker and many more.
Depending upon your habits while driving, there are many insurance providers, which offer big discounts to their clients. So, you should take care of this tip as well, while going to buy a Car Insurance. With the help of the above-mentioned tips for the women driver, you can easily get the best deal that will ultimately be the best suitable one for your car.
Cheapest Car Insurance in New York
Car insurance has became a necessity in New York. Not everyone has access to mass transportation like metro, buses, even taxis. For those people buying a car and consequently a car insurance is very important to keep up with the high speed and rush that characterizes the modern societies.
Cheap car insurance in New York is not always easy to find. Car insurance plans, here in New York, provide more services than the average plans of other states and therefore most of them are a bit pricier. In this website we have chosen some of the best deals we found on the Internet. We suggest you take a look by entering your ZIP code (for personalized results) and make your research on the offers you’ll find here.
By research we mean that you read carefully each company’s privacy policy and compare them with each other. I guess you already have an idea about what you want from your car insurance. You at least need to know how much you are able to pay for it and what services you want to be provided by the insurance.
New York auto insurance follow a no-fault system, which means that your insurance covers your medical expenses after an accident whether the accident was your fault or not. This is very positive, because you are guaranteed to be protected by your car insurance whenever your health is in danger on the road, without judging the accident itself, but caring for you and your safety first. The negative aspect of this is the fact that some insurance companies won’t pay enough money to cover your needs and in case it was your fault, you may lose some of the protection provided or encounter some changes in your contract. For this reason I will repeat, that you have to read the company’s police very carefully before putting money on the table. Can you see now how complicated choosing the right car insurance may be? In order to avoid these confusing situations and wasting time around the city visiting auto insurance offices, it is easier and faster to do your research on-line and visit some of the websites you can find here.
Gettting the Cheapest Car Insurance Insurance in New York City
If you have already checked some auto insurance deals, you most likely have noticed that they are a bit expensive and sometimes not affordable. However, we have selected some packages that prove that it is not impossible to find the cheapest car insurance in New York. If you’re still not satisfied, I’d say think again. We are talking about your safety here, don’t expect to pay less than every other car driver in the state and be as protected as everyone else at the same time. Besides, depending on your status and your car, you will get different rates from different companies, so make sure you will make the best out of this factor and find a personalized program that will cover wholly your needs. For example younger drivers may be considered of higher risk for some companies, when older people with families and low-risk cars may get better deals because they are considered more prudent drivers.
A good tip would also be to make some safety changes to your car before applying for car insurance in New York, this could lower the deal you are going to get. Make sure that your safety equipment is up-to-date, install anti-theft system if you don’t have one and you may want to change your windows do. This applies if you have an old car of course, because newer cars have these features anyway.
Survivorship Life Insurance: one effective strategy
If your estate exceeds the exclusion amount, you may have an estate tax liability. However, that does not mean your heirs should lose part of your estate.
This is where Survivorship Life Insurance enters the picture. Also known as second-to-die insurance, this coverage can insure both you and your spouse under one policy, with the proceeds payable after the second death.
Survivorship Life Insurance offers a number of benefits as an estate planning tool:
- Simplicity. Under one arrangement, you may want to establish an irrevocable life insurance trust to purchase the insurance policy, with your heirs as beneficiaries. (This keeps the insurance proceeds out of your estate for tax purposes.) By means of a will, estate assets then pass to the surviving spouse at the first death. At the second death, the insurance death benefit is paid, with the policy proceeds passing directly to the named beneficiaries. They can then use the money to replace assets lost to taxes.
- Price. Since two lives are insured, premiums are generally lower than for two single-life policies.
- No second guessing. There is no need to plan based on who will die first.
- Underwriting is generally more liberal than that for a single life policy, since two lives are insured and the benefit is paid at the death of the second. A proposed insured who may have been denied life insurance coverage by a single life insurance product, may be approved for coverage by a survivorship life insurance product. Keep in mind that not every person who has been declined for coverage for a single-life policy is necessarily eligible for coverage under a survivorship life insurance policy.
Survivorship Life Insurance can meet other needs as well, and is commonly used to benefit:
- Children with special needs. The insurance can provide guaranteed funding for a trust to provide for a child with disabilities after the death of the second parent.
- Charitable gifts. This coverage can help create a living legacy for a favorite charitable organization after both spouses’ needs have been provided for.
You work hard to build up an estate over your lifetime — and you may end up a millionaire. While taxes may be inevitable, you can help counter the loss with aSurvivorship Life Insurance policy.
Universal Life Insurance
Here are some of the benefits of NYLIAC Instant Legacy®:
- Fast and Simple: NYLIAC Instant Legacy’s® simplified underwriting does not require medical exams or blood work, just a one-page questionnaire and no recurring premiums.
- More for your beneficiaries: The single premium can provide a generally income tax-free legacy for your loved ones.
- Access to Funds: NYLIAC Instant Legacy® provides a money back guarantee3 of the initial premium and access to the policy’s cash value through loans and partial withdrawals4, which can be used “Just in Case.”
1Issued by New York Life Insurance and Annuity Corporation (NYLIAC)(A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.
2Guarantees are backed by the claims-paying ability of NYLIAC. The guaranteed life insurance benefit will be reduced by any partial surrenders and unpaid loans, including accrued loan interest.
3At any time during the life of the policy, you may elect to have your cash surrender value returned to you, ending the policy. As stated in the policy, the cash surrender value will never be less than the premium you paid into the policy, less any partial surrenders and outstanding loans, including loan interest.
4Partial surrenders and unpaid loans, including loan interest, will reduce the cash surrender value and life insurance benefit, and may carry a 10% IRS tax penalty if the policy is a modified endowment contract and the policyholder is not yet age 59 ½. Please consult your tax advisor for more information.
In Oregon, the NYLIAC Instant Legacy® policy form number is 306-130-27
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This material is for informational purposes only. Neither New York Life nor its agents provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
New York Life Leads Life Insurance Industry With Top Market Share
New York Life announced today that it was the largest seller of new life insurance in 2011, with a strong 10.7%1 market share through the fourth quarter. New York Life’s individual life insurance sales increased solidly in 2011, up 12% over 2010, driven by the company’s 12,250 licensed agents across the United States.
“These terrific results are a credit to New York Life agents, the most educated and knowledgeable career agents in the industry. They work tirelessly with their clients in communities across the country to meet their accumulation, protection and retirement income needs,” said Chris Blunt, head of New York Life’s Insurance Group.
Mr. Blunt noted that with some 1,000 life insurers operating in the United States today, it is remarkable that any one company has a double-digit market share. Since LIMRA has kept records, no other life insurer has had a double-digit market share in life insurance.
Mark Pfaff, head of the company’s Agency Operations, credited the outstanding results last year to the continual efforts of the field force in meeting the needs of Americans across the country. He also noted the continued strength of New York Life’s cultural marketing as a key driver of the results in 2011. “Last year more than 44% of the company’s new life insurance cases were from Cultural Markets, which is a key focus for the company. Our agents are dedicated to serving the financial needs of communities across the country, including the rapidly growing cultural markets,” he said.
The Cultural Markets unit was formalized in 1996 with a focus on providing financial guidance to families and businesses in the African-American, Asian Indian, Chinese, Hispanic, Korean and Vietnamese markets. Today, of New York Life’s 12,250 agents working in communities across the country, 34% focus on these cultural markets.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States2 and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).3 Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance.