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New York Life Donates $100,000 to Aid Flood Victims in Eastern Kentucky
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Rhea-AI Summary
New York Life announced a donation of $100,000 to the Team Eastern Kentucky Flood Relief Fund in response to severe flooding in Eastern Kentucky. CEO Craig DeSanto expressed the company's commitment to assisting those affected during their time of need. Additionally, New York Life is offering crisis relief to its policyholders, including emergency loans and payment extensions. In 2021, the company contributed over $32 million to various charitable initiatives, including nearly $4 million in response to the COVID pandemic.
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Donation of $100,000 to flood relief efforts demonstrates commitment to community support.
Offering crisis relief and loans to policyholders affected by flooding showcases strong customer support.
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NEW YORK--(BUSINESS WIRE)--
New York Life announced today that it donated $100,000 to Team Eastern Kentucky Flood Relief Fund in response to the deadly flooding in Eastern Kentucky.Team Eastern Kentucky Flood Relief Fund is a special fund set up by the Kentucky Governor’s office to provide immediate relief to families impacted by the flooding.
“Our thoughts are with everyone who has been affected by the deadly flooding,” said Craig DeSanto, CEO & President of New York Life. “We’re in the business of helping people when they need us the most, and throughout our more than 177 years in business, we’ve acted with humanity in times of tragedy. It is our hope that this contribution can help ease the suffering of the people of Eastern Kentucky.”
New York Life customers are eligible for crisis relief. For those who are in immediate financial need, New York Life can quickly provide emergency loans against the cash value of a current policy to help in recovery and rebuilding. New York Life also can assist if a policy owner needs a payment extension for a short time. Policy owners should visit New York Life’s Web site at www.newyorklife.com or call the toll-free line, 1-800-695-1314, for assistance.
In 2021, New York Life and its Foundation provided over $32 million in charitable contributions including nearly $4 million in response to the COVID pandemic and other disasters to support communities across the country.
About New York Life
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.2
1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.
2Individual independent rating agency commentary as of 6/22/2022: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
