New York Life donates $500,000 to Hurricane Harvey relief effort.

Company Will Match Employee and Agent Contributions to the Relief Effort, Offers Assistance to Policyholders 

NEW YORK, N.Y., August 28, 2017 – New York Life announced today that it will donate $500,000 to aid Hurricane Harvey relief efforts, allocating $150,000 to the American Red Cross, $100,000 to Save the Children and $100,000 to Feeding Texas to aid immediate relief efforts in southeastern Texas, spread among these organizations that are already deployed on the ground.  In addition, New York Life will match contributions by its employees and agents up to $150,000 to these organizations.  New York Life has also facilitated the donation of hotel rooms and food to Red Cross workers and volunteers in the Austin area.

Ted Mathas, chairman and CEO of New York Life, said, “As a life insurer, we understand all too well the challenges that emerge when the unexpected strikes.  We stand by our promise to be there for those whose lives can be made better with our help, and our ability to deliver on this promise is never more critical than in times like this.  Our thoughts are with the victims, their families and relief workers as they deal with the tragic aftermath of Hurricane Harvey.”

The company is continuing to work with local staff, federal officials and its charity partners in the area to determine how it can best support long-term relief efforts going forward.

New York Life customers are eligible for crisis relief.  For those who are in immediate financial need, New York Life can quickly provide emergency loans against the cash value of a current policy to help in recovery and rebuilding.  New York Life also can assist if a policyholder needs a payment extension for a short time, and if a policy has been lost or destroyed.  Policyholders should visit New York Life’s Web site at www.newyorklife.com or call the toll-free line, 1-800-Call-NYL or 1800-225-5695, for assistance. 

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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Further Reading
  • 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.