Insurance Sales, Annuity Sales, Mutual Fund Sales
Whether your goal is protecting your family or business against the unexpected, paying for college, or building and securing a comfortable retirement, you should never feel you have to "go it alone" when it comes to taking control of your future.
Mutual Fund Sales3
Despite the recent economic challenges, our track record of strong insurance and investments sales each year not only continues to fuel the company's growth—it's a sign that more people are following your lead and turning to New York Life for assistance. And no matter what products you may already own, our Agents and advisors stand ready with the solutions you need to help you achieve your objectives at every stage of your life.
1) Insurance sales represent annualized first-year premium on participating issued whole life insurance, term life insurance, universal life insurance, long-term care insurance, and other health insurance products. A sale is generally counted when the initial premium is paid and the policy is issued. Adjustments are made to reflect the relative importance of certain sales, primarily: single premium sales sold through our Agents and Advanced Markets Network (AMN) retail distribution channel, our network of independent Agents and brokers, are counted at 10 percent. Sales are generated from both domestic and Mexican operations. Agency Recurring Premium Life Insurance Sales refers to those products that are sold through our career Agent force and require premiums to be paid every year.
2) Total annuity sales represent premium income on our deferred annuities (both fixed and variable) and on our Guaranteed Income Annuities, which includes our immediate fixed annuity product (Guaranteed Lifetime Income) and our flexible premium deferred income annuity product (Guaranteed Future Income). Sales are generally recognized when premiums are received. Annuities are primarily issued by NYLIAC.
3) Mutual fund sales represent total cash deposited to new and existing accounts of the MainStay Funds, New York Life's proprietary mutual funds. MainStay Funds are managed by New York Life Investment Management LLC and distributed through NYLIFE Distributors LLC, a wholly owned subsidiary of New York Life Insurance Company.
Where applicable, prior period numbers have been restated to conform to current year definition.
For further financial information, including detailed information on our investment strategy, visit our website (www.newyorklife.com), where the 2013 Annual Report will be available in mid-May 2014. A copy of the report is also available by writing to the Secretary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.