NEW YORK, N.Y., September 24, 2018—New York Life announced today that it will donate $300,000 to aid Hurricane Florence relief efforts, allocating $100,000 to Save the Children, $100,000 to the Food Bank of Central and Eastern North Carolina and $100,000 to the Hurricane Florence Response Fund at the Foundation for the Carolinas. In addition, New York Life will match contributions by its employees and agents to these organizations up to a maximum of $100,000.
Ted Mathas, chairman and CEO of New York Life said, "As a life insurer, we're in the business of helping people when the unexpected strikes. And we stand ready to assist those communities affected by Hurricane Florence. Our thoughts are with the victims, their families, and the relief workers as they begin to rebuild in the aftermath of this terrible storm."
The company is continuing to work with local staff, federal officials and its charity partners in the affected areas 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, 1-800-695-1314, for assistance.
New York Life Insurance Company (www.newyorklife.com), 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. 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 has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies**.
* Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/1/18. For methodology, please see http://fortune.com/fortune500/
** Individual independent rating agency commentary as of 7/30/2018: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+)