As COVID-19 has spread into our consciousness and our communities, bringing uncertainty around jobs, the economy, and overall financial security, New York Life has been focused on what truly matters—protecting those we care about most.
As we look back at the last 175 years of our history—through the Yellow Fever epidemics in the 19th century, the great pandemic of 1918, two world wars, the Great Depression, and the Financial Crisis of 2008-2009—we have leaned on our values of integrity, humanity, and financial strength as we protected the future for our clients and their loved ones. Having experienced and successfully navigated all of these prior crises, we have the humility to know that we can’t predict the future, but the confidence that we can prepare for whatever it may hold.
Here are some of the ways we have been working to support our employees and agents, policy owners, and communities, during this unprecedented time:
o New agents are receiving a stipend; Established agents have access to low-interest loans and a bonus on eligible commissions.
o No production-related terminations.
o Covering healthcare premiums for all agents.
o Waiving General Office rent and group insurance costs.
In April, the New York Life Foundation , together with Cigna Foundation, launched the Brave of Heart Fund at E4E Relief with initial contributions of $25 million each. To further support the Fund, which was established to provide financial and emotional support to the families of healthcare workers and volunteers nationwide who lose their lives to COVID-19, the New York Life Foundation will also provide a dollar-for-dollar match on the first $25 million in individual donations received, and Cigna has committed to provide behavioral and emotional health support to the families to help them cope with grief. In addition, the New York Life Foundation has made over $7M in donations and commitments to organizations serving communities across the country. Here are some examples of how we have contributed:
In keeping with our tradition to serve the communities where we live and work, the New York Life Foundation has done the following:
Go back to our newsroom to read more stories.