- How do I qualify for a Consolidated Statement?
Consolidated Statements are sent to clients who own two or more products from New York Life’s family of companies under the same address and Client identifier (client ID number), which can be found just below your name at the top of your Consolidated Statement. The contracts must be active and, for reasons of privacy, you must be listed as the owner.
It is possible for you to have more than one client ID number. This can occur if you have different addresses listed on your policies or if there is a difference in your name and/or address information. (This may cause you to receive more than one Consolidated Statement.) For trust owned policies, the trustee is not the owner of record and will not receive a Consolidated Statement. The Trust, as the owner, is assigned its own unique client ID number and might qualify for a statement if eligibility requirements are met.
- I received a Consolidated Statement, but my spouse did not. Why?
It is possible that only one person in the household was eligible. Consolidated Statements are only mailed to eligible policy owners. For example, if your spouse were the insured, but not the policy owner, your spouse would not qualify to receive a Consolidated Statement.
- I received a Consolidated Statement, but not all of my policies were listed. Why?
While most New York Life products are listed on the Consolidated Statement, there are some products that are not yet included:
- AARP Life Insurance
- Group Membership Life and Health Insurance
- Settlement Options (e.g., Supplementary Contracts)
- Disability Income policies administered by Paul Revere/UnumProvident
- Investment products (e.g., Non-Proprietary Mutual Funds, Scholar'sEdge®, etc.) 1
1Please note if these products are held in NYLIFE Securities Brokerage accounts, they will be included in the total market value on the Consolidated Statement.
- The Death Benefit or Net Cash Value for my policy says "See Note 1." Why does this happen?
On rare occasions, we may not be able to calculate a value for a particular policy on the specific date that the Consolidated Statement is produced. To obtain your current Death Benefit or Net Cash Value information, please call us toll-free at 1-800-695-4331 to speak to a customer service representative, Monday through Friday. You can also obtain this information by viewing your online Account Summary at our safe and secure Virtual Service Center.
- How can I access my online Consolidated Statement Account Summary?
You can view your Account Summary by visiting us at www.newyorklife.com/vsc and logging in using your User Name and Password. You may also call us toll-free at 1-800-695-4331 to speak to a customer service representative, Monday through Friday.
New York Life is an environmentally conscious company and is committed to protecting the environment for future generations. This year’s statement will only be available online at our Virtual Service Center, unless you elect to continue receiving paper copies. If you would like to receive the statement in paper form, you must call us at 1-800-957-3860. You will need to have your client ID number available. Your client ID number is located on the first page of your statement, at the top, underneath your name. Please keep this information with your statement for future reference.
- Who do I contact if I have a question or want to correct the information on my Consolidated Statement?
Simply contact a customer service representative at one of the following toll-free numbers:
Traditional Life and Annuity Products: 1-800-695-4331 Variable Life and Annuity Products: 1-800-598-2019 MainStay Mutual Funds: 1-800-MAINSTAY NYLIFE Securities Accounts: 1-800-884-3874 Long Term Care (LTC) Products: 1-800-224-4582
Names and addresses on MainStay, NYLIFE Securities, and Long Term Care products can only be updated by those operations. Therefore, you must contact those New York Life subsidiaries directly.
- Can I receive a new Consolidated Statement once a correction is made?
The Consolidated Statement is produced only once a year, but you may view all of your policies in one place via the Virtual Service Center at www.newyorklife.com/vsc.
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|Consolidated Statement FAQs|