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New York Life Has Record Year for Hiring Life Insurance Agents

New York Life Insurance Company recruited a record number of financial representatives in 2008, with 3,534 appointments in the United States, up 8.4% over 2007.

"Job seekers recognize that, now more than ever, becoming a New York Life insurance agent is a wise career choice,” said Executive Vice President Mark W. Pfaff, who leads both the company’s Agency field force of more than 11,500 agents, and its U.S. Life Insurance business. “Our growth in 2008 proves that New York Life’s recruiting message is resonating. We offer men and women of all ages the opportunity to provide vital insurance protection and financial advice to the people in their communities, while also enjoying flexibility, independence and unlimited income potential — all while representing a company with unsurpassed financial strength, history, and training.”

In 2008, over 50% of agents recruited were either women or minorities. The number of women hired was 9% greater in 2008 than in 2007, representing 32% of all agents hired. In addition, 35% of new agents represent New York Life’s Cultural Markets, which include the Hispanic, Chinese, Asian-Indian, Korean, African-American, and Vietnamese markets. And, 2008 was a record year for the on-campus recruiting program, with over 10% of new agents hired as a result of these efforts.

“Our strong growth in agent diversity is a reflection of New York Life’s efforts to mirror the communities in which we live and work and the opportunity presented by these growing demographics,” added Mr. Pfaff.

For the second year in a row, BusinessWeek named New York Life Insurance Company one of “The Best Places to Launch a Career.” In 2008, New York Life climbed to 28th place, up from 47th in 2007, in the magazine’s selective list of employers across the nation. In addition, for the 54th consecutive year, New York Life Insurance Company dominated the Million Dollar Round Table (MDRT) in the United States with the largest number of agents being granted MDRT membership. MDRT membership is attained by less than 1 percent of the world’s financial services professionals who have demonstrated superior professional knowledge, experience and client service.

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New York Life Has Record Year for Hiring Life Insurance Agents

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