The pandemic presented new challenges for communities across the country, impacting every individual. Through a period of drastic change and disruption, COVID-19 required us to think differently about how we provide support to our clients.
From tips on getting back to office life, supporting children during the pandemic, to cybersecurity guidance on protecting yourself from pandemic fraud, to figuring out how to get the best from a staycation, and lifting your lockdown mood, we aimed to offer as much support as possible to our policy holders.
We also helped our members more directly:
· This year’s Report to Policy Owners was entitled Stronger Together for good reason. Throughout 2021, our agents set new records for insurance, annuity, and investment sales by helping more individuals and families obtain the peace of mind that comes with a secure financial future.
· We paid out $1.8 billion in claims due to COVID, including many claims that may have lapsed without our Extended Grace Period.
· More than 780,000 life policies were granted an extended grace period on premiums, and over $35M in death benefits were paid out on policies that would have lapsed without this program.
· We’re also proud that 70 percent of policy owners who were eligible for one of our Policy Owner Accommodation Programs were able to keep their policies in force, proof that the programs gave people a chance to regain their financial footing.
We know that the ongoing uncertainty created by the pandemic means that our clients are depending on our support now more than ever. Our message is simple: we are here for you, and we will continue to support you in whatever way we can. Protecting your future is our top priority, find out more about how a New York Life financial advisor can help you here.
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