The Company You Keep®

      Shortly after the dramatic series of events that shook the nation’s economy in September 2008, I began hearing from New York Life policyholders. The letters and e-mails expressed a common sentiment: "I am so glad my money is with New York Life." "I'm thankful for New York Life’s prudence and stability." "Because of your company, I can sleep at night."

     However, one note from a policyholder of many years remained in my thoughts for a long time after I read it. She wrote, "Thanks, New York Life. My family and I depend on you." I don’t think it can be said more plainly than that. Times like these are a constant reminder of our Company’s absolutely vital responsibility – and proven capability – to help provide financial security for your family. This is a guarantee that few can offer these days, but then, few other institutions are still rated as highly as New York Life for long-term financial strength.

      In 2008, operating revenues increased $1 billion over 2007, to $14 billion. Operating earnings totaled nearly $1.3 billion, surpassing 2007’s record-setting results. Given the state of the markets in 2008, this represents a very impressive follow-up to two prior years of strong double-digit earnings growth.

     2008 was a disastrous year for much of the financial services industry. Life insurers were protected, to a degree, by the regulations that govern their business. These regulations spell out, for example, the amount of financial reserves insurers must hold and the types of investment risks that insurers can take. Even so, many life insurance companies faced enormous challenges.

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Marriage

     Congratulations! After the excitement of wedding bells, you can finally settle down into being a family. You'll be sharing your hopes and dreams, a home and, just as important, your finances.

New Baby

     You've stocked up on baby powder and diapers. You've bought the crib, walker, playpen and stroller. You're already wait-listed for the most exclusive preschool in the city. But no amount of planning will prepare you for the day when your child is born. All of a sudden, you're cradling another human being that will look up to you for love and guidance.

New Home

     A new home is at once your greatest asset and your greatest expense. It's important to think about how your new mortgage fits in with your overall financial strategy, and how to safeguard your investment.