Need additional life insurance but not sure where to get it? If so, you're not alone. According to one survey, 1 65 percent of men and women who have not purchased the coverage they acknowledge they need say one reason is that they simply do not know where to buy it.
That's understandable. Between hundreds of life insurance companies, flights of television commercials promoting unbelievably low rates, and online invitations to "click here for your instant quote," the choices can be overwhelming.
How do you know where to begin? Keep in mind that there is no such thing as one-size-fits-all when it comes to life insurance. The type of policy and the amount of coverage that may be ideal for your neighbor across the street may be all wrong for you. Before you buy any life insurance, make sure it meets your needs. That is why it never hurts to shop around, get good information, and compare potential choices.
One key element is the company with which you choose to do business. We at New York Life certainly hope you will consider us when making your decision. We say this because we believe we are the best choice for three very important reasons:
- Life insurance involves a long-term commitment, so it makes sense to work with a company with a long-term reputation. The purchase of life insurance is an important decision, a major decision, a decision that can dramatically affect the life and lifestyle of your loved ones decades into the future. You want a company that has a reputation for meeting its obligations without excuse or exception, a company that has consistently continued to meet its obligations, without exception or excuse, through many of the events of modern history, including wars and economic setbacks.
New York Life was founded in 1845, and has operated and met its obligations to its policyowners since that time. When looking at our track record, we believe there is good reason to say that we can meet your need for a long-term commitment.
New York Life is a mutual company. This means that there are no stockholders. Our policyowners are the owners. Therefore, profits are not distributed to investors, but are returned to policyowners in the form of policy dividends (nontaxable return of premiums). This also means that New York Life is not for sale or available for mergers. We have been the same company and had the same name for more than 160 years.
- Life insurance must be backed by financial strength. Each life insurance company doing business in this country is evaluated annually by several independent rating companies, which put it through a rigorous review of its ability to meet its financial obligations. New York Life (NYL) has received among the highest ratings for financial strength from the life insurance industry's principal rating agencies for years. See our story What the Rating Agencies Say (www.newyorklife.com/nyl/v/index.jsp?contentId=8668&vgnextoid=202aa2b3019d2210a2b3019d221024301cacRCRD ) for the most up-to-date scores.
- Quality, personal, professional service is vital. In the years to come, you will experience many changes. Your family may grow through such joyful events as marriages and births. Or it may go through unpleasant changes, such as divorce or death of a loved one. When your situation changes, most likely will your insurance needs.
New York Life has a multi-tiered service system. You can call our home office for information and service. You can also go online and request what you need. Most companies have this.
However, at New York Life, when it comes to service, we have a powerful, not-so-secret weapon: The New York Life agent!
New York Life agents are not just licensed. They are full-time professionals who undergo rigorous initial education and training, followed by ongoing continuing education that never stops. They are career agents who dedicate their professional lives to meeting the needs of their clients.
They do not sell auto insurance or homeowners' insurance. They are specialists in the field of life insurance and related annuity products. They will also work with your accountant and attorney as needed to help create a strategy that helps you achieve your objectives. And as those objectives change and evolve over the years, they will be there to help you adjust and fine tune your plan and keep it up to date.
Just as important, New York Life agents do not spend their days sitting in call-in cubicles taking phone orders. They get involved. They know you are busy, so they will come to your home or invite you to meet in their office to meet you face to face and answer your questions, learn about your individual needs, and help you design and build a personalized life insurance policy that reflects your needs and those of your family.
You have many options regarding where and how you buy your life insurance. We hope you will choose New York Life for all the right reasons. At the very minimum, we ask you to contact a New York Life agent for an appointment to learn more. There is no cost and no obligation. However, we believe that it will become apparent why millions of men and women and business owners choose to do business with New York Life and a New York Life agent.
1Every Excuse in the Book: Can You Motivate Consumers to Buy Life Insurance?, LIMRA, 2006
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