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New York Life Agents Produce Record Sales in 2012

Elite Sales Force Sets New Highs for Life Insurance and Mutual Funds

NEW YORK, March 20, 2013 — New York Life, America’s largest mutual life insurance company, enjoyed another year of record sales through its primary distribution channel of 12,250 agents across the United States in 2012.

The company’s insurance sales continued to grow, with individual recurring premium life insurance sales through agents up 4% over 2011. Life insurance policies sold through agents also rose 4% in 2012, indicating strong interest in protection products, with 45% of the company’s new life insurance policies produced by agents serving the cultural markets. New York Life’s cultural markets include African-American, Chinese, Hispanic, Korean, South Asian, and Vietnamese.

Agents also sold $4.7 billion of annuities of all types in 2012, a 9% increase from 2011. Sales of guaranteed lifetime income annuities through agents, including the new deferred income annuity, jumped 20% over 2011, reaching a record $1.6 billion. New York Life’s annuity product suite offers consumers who are years away from retirement and those near or starting retirement the guaranteed income and financial flexibility they seek.

Sales of mutual funds through agents soared 34% over the prior year, to $807 million. The company’s solid mutual fund sales are being driven by consistent investment performance from the company’s investment boutiques in both income oriented and capital appreciation funds, which remain in high demand from customers. Barron’s once again recognized New York Life’s mutual fund complex, MainStay Funds, for delivering long-term results – naming MainStay the #1 fund family for the 10-year period in its annual ranking of mutual fund families. This is the fourth consecutive year that MainStay ranked in the top three for the 10-year period.

Mark Pfaff, executive vice president and head of New York Life’s Agency Operations, credited the outstanding results to the company’s elite field force. “What these sales figures signify is that consumers see the value of advice in these complicated times. It’s equally important for consumers to choose a company with which they can entrust their money and their futures. Our sales growth through the economic recession and beyond has crystallized the value of engaging with a New York Life agent. Our agents are recognized as the most educated and knowledgeable in the industry, and our life insurance products are backed by a company with a 168-year history of delivering on its promises and one with the highest possible financial strength ratings – a reliable combination in these uncertain times.”

In 2012, New York Life led new agent membership in the Million Dollar Round Table (MDRT) in the United States for a remarkable 58th consecutive year. Membership in MDRT is a distinguishing life insurance career milestone for those demonstrating superior professional knowledge, experience and client service.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* 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+).** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at for more information.

*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, May 21, 2012. See for methodology.

**Source: Third Party Ratings Report as of 2/1/13. The financial strength and ratings do not apply to the Investment Divisions of any Variable Universal Life insurance and mutual funds because they are subject to market risks and will fluctuate in value.

***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

About Risk
All mutual funds are subject to market risk and will fluctuate in value. Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. Funds that invest in bonds are subject to interest rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner, or that negative perception of the issuer’s ability to make such payments may cause the price of that bond to decline.

For more information about MainStay Funds®, call 800-MAINSTAY (624-6782) for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.

How Barron’s Ranks the Fund Families
To qualify for the Lipper/Barron’s Fund Survey, a fund family must have at least three funds in Lipper’s general U.S.-stock category, one in world equity (which combines global and international funds), one mixed-equity fund (which holds stocks and bonds), at least two taxable-bond funds, and one tax-exempt offering. Each fund’s returns are adjusted for 12b-1 fees. Fund loads, or sales charges, aren’t included in the calculation of returns, either. Each fund’s return is measured against those of all funds in its Lipper category, such as, say, small-cap value. That leads to a percentile ranking, with 100 the highest and 1 the lowest, which is then weighted by asset size, relative to the fund family’s other assets in its general classification, world equity, for instance. If a family’s biggest funds do well, that boosts its overall ranking. Poor performance in a big fund would have the opposite effect. Finally, the score is multiplied by the weighting of its general classification, as determined by the entire Lipper universe of funds. The category weightings for the one-year results: general equity, 34.9%; world equity, 16.3%; mixed equity, 17.3%; taxable bonds, 27.2%; tax-exempt bond, 4.3%. The category weightings for the five-year results: general equity, 40.1%; world equity, 12.3%; mixed-asset, 17.3%; taxable bonds, 25.6%; and tax-exempt bonds, 4.7%. The category weightings for the 10-year results: general equity, 41.9%; world equity, 12.3%; mixed-asset, 14.4%; taxable bonds, 25.9%; and tax-exempt bonds, 5.4%. The scoring: say a company has a fund in the general U.S. equity category with $50 million in assets that accounts for half of the company’s assets in that category. Its ranking is the 75th percentile. The first calculation would be 75 x 0.50, which comes to 37.5. That score is then multiplied by 38.04%, general equity’s overall weighting in Lipper’s universe. So it would be 37.5 x 0.3804, which totals 14.265. Similar calculations are done for each fund in the study. Then, all the numbers are added up for a total score. The fund family with the highest score wins, both for every category and overall. The same process is repeated for the five- and 10-year rankings based on their weightings. Ranking data is from Lipper.

Source: Barron’s, 2/9/13. Overall, MainStay Funds ranked number 56 for the one-year period, 20 for the five-year period, and 1 for the 10-year period ended December 31, 2012, out of 62, 53, and 46 fund families, respectively. MainStay ranked number three for the 10-year period in 2009, 2010, and 2011 from among 48, 46, and 45 fund families, respectively. MainStay ranked number six from among 48 fund families for the 10-year period in 2008. MainStay ranked number five in the tax-exempt bond category out of 62 fund families for 2012. Past performance is no guarantee of future results, which will vary. For the most recent MainStay Funds performance, please visit our website at

MainStay Investments® is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments, an indirect subsidiary of New York Life Insurance Company, New York, NY 10010, provides investment advisory products and services. The MainStay Funds® are managed by New York Life Investment Management LLC and distributed through NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.