New York Life Insurance Company is a mutual insurance company, which implies it is not publicly traded and has no shareholders. In its place, its policy householders are the ones who share in possession rights of the corporate. With a mutual firm, customers who buy collaborating merchandise are entitled to vote inside the board of directors elections and are eligible to share in annual dividends which could be declared. The corporate’s precedence is to safeguard their pursuits. Policies issued by our subsidiary companies aren’t collaborating and don’t share in these rights.
Insurance phrases, definitions and explanations are meant for informational functions solely and don’t in any manner change or modify the definitions and information contained in individual insurance contracts, insurance policies or declaration pages, which administration protection determinations. Such phrases might differ by state, and exclusions may apply. Reductions might not be utilized to all coverage coverages.
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