New York Life Donates $1 Million to Hurricane Sandy Relief Effort
NEW YORK, N.Y., November 7, 2012 – New York Life announced today it will donate $1,000,000 to aid Hurricane Sandy relief efforts, allocating $500,000 to the American Red Cross, $250,000 to the Mayor's Fund to Advance New York City and $250,000 for local recovery efforts in New York, New Jersey and Connecticut.
In addition, New York Life will match contributions by its employees, agents and retirees to the American Red Cross or Feeding America, a network of food pantry organizations, with no limitation.
Ted Mathas, chairman and CEO of New York Life, said, “As communities throughout the region begin to rebuild following the devastation left by Hurricane Sandy, New York Life is committed to easing the suffering of storm victims. Our employees and agents, many of whom were directly affected by the storm, have already begun to donate to the relief efforts. Our thoughts are with all those affected by Hurricane Sandy and everyone working hard to support the recovery effort.”
New York Life customers are eligible for crisis relief. For those who are in immediate financial need, New York Life can quickly provide emergency loans against the cash value of a current policy to help in recovery and rebuilding. New York Life also can assist if a policyholder needs a payment extension for a short time, and if a policy has been lost or destroyed. Policyholders should visit New York Life’s Web site at www.newyorklife.com or call the toll-free line, 800-695-4331, for assistance.
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 Web site at www.newyorklife.com for more information.
*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, May 21, 2012. See www.money.cnn.com/magazines/fortune for methodology.
**Source: Individual Third Party Ratings Reports as of 6/22/12.
***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.