NY LIFE REPORTS LIFE INSURANCE SALES UP 8%

New York City-based New York Life Insurance announced that sales of its permanent and term life insurance products drove the company’s total life insurance sales up 8% in the first nine months over year ago numbers to their highest levels on record for the period. New York Life Executive Vice President Mark Pfaff said, “Having the best year on record is strong evidence that consumers want the comfort of guarantees from financially strong insurers… Last year, when the stock market declined 37% and real estate plunged over 11%, the cash value of whole life insurance from New York Life increased in value, as it has over the past 155 years. Americans increasingly value and appreciate this safety, security and stability.”