Important information for New Jersey policyowners during the COVID-19 outbreak
For 175 years, our commitment to helping New York Life policyowners get through difficult times has been our top priority. During this time of uncertainty with the outbreak of coronavirus (COVID-19), we stand ready to help and make sure you stay informed of all the support that is available to you.
Over the last two months, we’ve taken several steps to help protect our policyowners. Additionally, the State of New Jersey Department of Banking and Insurance issued a regulatory bulletin to assist annuity consumers experiencing financial hardship as a result of COVID-19.
As a policyowner whose policy or certificate was issued in the State of New Jersey, if your policy was in good standing on March 1, 2020, and if you are experiencing financial hardship under this bulletin while it is in effect1, you may be eligible to extend the time to exercise any rights or benefits contained in your policy or certificate to 90 days.
In addition to this action, we’re closely monitoring regulatory guidance and will provide updates on any changes that occur.
To learn more, please contact your financial professional or call one of our service professionals at 1-800-762-6212. We will be happy to assist you.
We hope this information will give you some peace of mind. We’ve been there for our policyowners during times of war, economic collapse and national tragedies, and we know that together we’ll withstand these uncertain times.
Thank you for trusting us with your financial security
1The bulletin is effective for 90 days from April 1, 2020 or May 1, 2020, at the policyowner’s option. For the most current information about assistance available to you, please call us.
SMRU1854057 (Exp. 4.23.2022)