New York Life Strengthens Position as Market Leader in Bank Distribution Channel with New Retirement Income Specialists.Specialists Will Offer Banks Additional Support to Increase Sales of Retirement Income Products NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Please replace the release with the following corrected version due to multiple revisions. The corrected release reads: NEW YORK LIFE STRENGTHENS POSITION AS MARKET LEADER IN BANK DISTRIBUTION CHANNEL WITH NEW RETIREMENT INCOME SPECIALISTS Specialists Will Offer Banks Additional Support to Increase Sales of Retirement Income Products New York Life Insurance Company The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world.[3] announced today that it is continuing to build on its success in the bank distribution of annuities by adding four new Retirement Income Specialists to the bank wholesaling team for New York Life annuities. These Retirement Income Specialists will work directly with bank representatives to help increase sales of the Lifetime Income Annuity. "New York Life has emerged as a leader in offering consumers retirement income solutions, with a focus on products that provide a guaranteed lifetime income stream. Enhancing the support we offer to bank representatives who sell New York Life annuities strengthens our position as market leader and showcases the strengths that have distinguished New York Life for generations - including the range and quality of our product offerings as well as excellence in customer service," said John Meyer John Meyer may refer to:
"The Retirement Income Specialists will add to the success of the current wholesaling team who will continue to provide bank representatives with products, marketing support and sales training for the entire family of New York Life annuities distributed through banks. These newly created positions complement and strengthen the relationships that bank representatives have developed with their existing wholesalers," said Andrew Reiss, vice president and national sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → for New York Life's bank channel. "Our new Retirement Income Specialists will work closely with bank representatives and existing wholesalers to provide additional support in the area of retirement income. Representatives will enjoy greater assistance in the growing field of retirement income planning and we will be able to maximize our wholesaling coverage within each territory." The Retirement Income Specialists will provide bank representatives with additional resources for training and education, as well as industry information and the role of annuity products in retirement income planning. They will also offer strategies for reaching target clients and conducting public seminars. In 2006, New York Life became the top seller of income annuities in banks with a market share of 28%, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. data published by LIMRA LIMRA Life Insurance and Market Research Association (now LIMRA International, Inc.) . In addition, sales of the Lifetime Income Annuity increased 51 percent in 2005, following a 152 percent increase in 2004, the first year New York Life offered the product with enhanced features. Compared to no growth in the industry for fixed immediate annuities in 20051, sales of the Lifetime Income Annuity rose to $439 million in 2005 up from $290 million in 2004. New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and one of the largest life insurers in the world. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , New York Life's family of companies offers life insurance, annuities and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. insurance. New York Life Investment Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. Please visit New York Life Annuities' Web site at http://www.mainstayannuities.com./ New York Life annuities are issued by New York Life Insurance and Annuity Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. 1 Source: LIMRA International, Inc., U.S. Individual Annuity Sales Survey, Fixed Immediate 4th Quarter 2005. (Fixed Immediate includes Fixed Period Annuities.) |
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