New York Life’s African-American market agents have achieved a milestone of $50 billion of life insurance in force.

Life Protection Assists Families with Creating Greater Financial Stability and Wealth for Future Generations

NEW YORK, August 25, 2017 – New York Life announced today that the company’s African-American Market agents have achieved a milestone of placing over $50 billion of in-force life insurance protection to help families and businesses create financial stability for their loved ones. 

New York Life’s agents in the African American community are focusing on expanding the number of families they reach in their communities as part of their ongoing “$50-Billion Empowerment Plan,” which was launched in 2011 as an agent-led movement to touch the lives of African Americans and to show them the long-term impact and value of purchasing a life insurance policy, with the goal to place $50 billion in life insurance with families and businesses.

“We are so proud to be announcing this milestone and applaud the work of the New York Life agents who continue to be driven by the initiative and the great impact life insurance has on families and future generations,” said Eugene Mitchell, Corporate Vice President, African-American Market Unit. “Recent research shows that life insurance as an inheritance and legacy-creating tool has been underutilized by African Americans for years. This initiative made great strides to change that.”

As part of this empowerment plan, the Company’s African American Market Unit has also significantly grown the number of African American insurance and financial professionals by 35 percent over this time period, which today amount to over 1,200 nationally.

“The career as a New York Life agent offers job seekers a career with purpose and we saw that in our own growth in the last six years. New York Life continues to focus on providing the tools and resources to recruit and develop those who value what life insurance can provide for families and businesses, and desire to have an entrepreneurial career,” added Mitchell.

Agents are also inspired by the legacy of Cirilo A. McSween, New York Life’s first African American agent who dedicated his career to helping African American families achieve financial security, and whose start with New York Life reached its 60th anniversary this year.

This significant achievement and the ongoing Empowerment Plan initiative was celebrated on August 7-10 in Washington, DC, as part of the American College Conference of African American Financial Professionals.

For more information about the Empowerment Plan, visit www.newyorklife.com/empowermentplan, and the career as a financial professional, visit www.newyorklife.com/africanamericancareers.

About New York Life

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.  New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).***  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 Investments**** provides institutional asset management.  Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds.  Please visit New York Life’s website at www.newyorklife.com for more information. 

 

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  • Life insurance death benefits are generally income tax free.
  • Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/12/17.  For methodology, please see http://fortune.com/fortune500/ 
  • Individual independent rating agency commentary as of 7/27/17.
  • New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.