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For further details about the Essential Plan, visit the New York State of Health website at nystateofhealth.ny.gov, or call its helpline at 1.855.355.5777.
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In addition to working directly with clients, the brokerage is a managing general agent (MGA) with over 4,000 licensed insurance agents and agencies throughout the United States who are contracted to sell the insurance products.
Following World War II, New York Life further diversified; it invested in real estate development in the late 1940s and launched a mortgage-loan program for veterans in 1946. [15] In 1957, New York Life hired one of the industry's first black agents, Cirilo McSween. [8] [18] In the 1970s, New York Life began selling annuities and mutual funds. [15]
McCurdy, a company vice president, sent agents throughout the West and Southwest and pursued an ambitious investment approach, doubling new insurance in the first three years of his presidency. By 1904, it had quadrupled. In 1889, Mutual Life surpassed New York Life in new business, and in 1893, it bested The Equitable.
While the agent collects commissions, they do not collect a salary from the companies they represent. On average, independent agents work with thirteen property and casualty and six life and health insurance companies on a regular basis. [7] Independent agents own and control their accounts, policy records, and renewals.
For New York Life's 150th anniversary, in 1994–1995 the pyramid was restored with new tiles and lit at a cost of $4.1 million. [22] The New York Life Insurance Company continued to maintain its headquarters in the building, but started leasing extra office space through Cushman and Wakefield in 2004. [76]
Mutual Savings Life provides life insurance products, annuities, and other insurance products to individuals and businesses. Founded in 1927 in Decatur, Alabama , Mutual Savings is owned by Primesco , a company founded for the purpose of acquiring Mutual Savings.