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Welcome Mat Is Out for Real Estate Agents Seeking Change

High-Potential Opportunities in Life Insurance Beckon as Housing Slump Deepens

NEW YORK, April 24, 2007 – There are more than 1.3 million realtors in the United States – close to double the number from just five years ago. With the cooling of the housing market, many of these driven sales pros will need to find new markets for rewarding careers. New York Life Insurance Company believes it has the answer. As America’s largest mutual life insurance company, New York Life recruits and hires thousands of new agents every year, many of whom are established professionals seeking a more rewarding career. Successful realtors have the qualities necessary for success in the life insurance business, and New York Life offers a potentially lucrative career in a strong and stable industry, with a company that provides tremendous benefits and a lifetime of learning and professional development.

“Like our best agents, realtors are highly competent sales professionals, who have deep roots in their local communities and a history of serving a core need of every family. They have what it takes to thrive at New York Life,” said Mark Pfaff, senior vice president and head of New York Life’s agency sales force. “Becoming a New York Life agent is an ideal opportunity for an individual who wants to build a financial services business with unlimited income potential, help others achieve financial security and maintain a flexible schedule. We offer tremendous support and encouragement for those who want to take this path.”

To raise awareness of career opportunities at New York Life among real estate agents, the company is launching new advertising directed at real estate agents, which premieres in the May issue of Realtor magazine. The campaign is aimed at talented professionals considering career alternatives in the declining housing market.

“At a time when many real estate agents may be considering a career change, we wanted to shine a light on a rewarding career in a stable industry - a career that offers health benefits, residual compensation and a chance to build a client base in an industry that allows you to have more flexibility over your schedule,” remarked Pfaff.

New York Life offers comprehensive sales training and a wealth of marketing resources for new agents, as well as continuous support from a staff of experts. Even after agents are established in their careers, New York Life offers ongoing workshops and programs to improve their knowledge of the business.

New Opportunities for Insurance Agents as Americans Seek Retirement Planning Advice

The need for highly trained life insurance agents has never been greater. Many Americans are doing far too little to prepare financially for retirement. People are living longer, traditional pensions are disappearing, and savings rates are anemic. As the first wave of the nation’s 77 million baby boomers reaches retirement, many Americans will be facing a new set of risks and investment decisions.

According to research conducted in 2006 by Mathew Greenwald & Associates, only 10% of Americans understand how much of their retirement savings they can safely spend each year without running out of money. And only 11% of the pre-retirees surveyed believe they will improve their standard of living in retirement.

Now, more than ever, people need help setting up their own sources of guaranteed lifetime income. People also are living longer in retirement and depending on their savings to last. These demographic realities have created unprecedented opportunities for U.S. insurers and for the thousands of agents who work in the life insurance industry.

“Agents are in a perfect position to help pre-retirees develop solutions that fit their unique circumstances,” Pfaff added.

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. 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 Investment Management LLC provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

For more information about a career as a New York Life Agent, call (800) 709-1795, Ext. 100, or visit www.newyorklife.com/abettercareer.

Visit New York Life’s Web site at www.newyorklife.com for more information.

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