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Inside This Issue:
New York Life as a Mutual Company |
Will Your Life Insurance Retire When You Do? |
Automatic Payments Save Time And Money |
An Important Feature |
AARP Publications |
Routine Tests Help Detect Disease Early |
One of America’s Best Companies for 50+ Workers |
Diabetes |
AARP LifeAnswers
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New York Life Insurance Company is continuously reaffirming its
commitment to the certificate
holders of the AARP Life Insurance Program from New York Life to be there when we’re needed. Every decision that New York Life makes is based on this commitment.
One of the major decisions we made was to remain a Mutual Company. There are two types of insurance companies: Mutual Companies and Stock Companies. Mutual Companies are owned by the policyowners; Stock Companies are owned by stockholders. Mutual Companies, like New York Life, manage for the long term – the products we sell represent our promise to remain solvent and pay the claims and benefits promised in our life insurance contracts – today, and many years from now. The decisions made by Stock Companies may be influenced by short-term goals – investors that purchase stock may not necessarily intend to hold that stock for long periods of time and therefore are also concerned with short term
outcomes.
Given the current economic climate, our decision to remain a Mutual Company has proven to be wise. In fact, one of the top
investment rating agencies, Moody’s Investors Services, had this to say about New York Life’s position - "Mutual Companies are able to avoid the potential conflicts of interest that exist between
policyholders and shareholders in publicly traded companies."
New York Life is the largest mutual life insurance company in the United States. For more than 150 years we have been there and will continue to be there for people
like you - our owners - the policyholders and customers of New York Life.
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When it comes time to retire,
you’ll take the fond memories of your co-workers and achievements with you. But what you may not be able to take is your employer-
provided life insurance policy. Some employer-provided life
insurance plans terminate the day you leave your company, or the death benefit is substantially reduced upon retirement.
If you’re facing this situation - or have already experienced a reduction in coverage - now may be the ideal time to consider securing a bit more protection. Perhaps, even enough to pass along as a legacy to your children, or to help make sure your spouse can continue to live a comfortable lifestyle.
Retirement is sure to cause substantial changes to your life, and to your life insurance needs. Take a moment to assess your needs
for the future, and if you like, feel free to discuss your options with one of our helpful customer service representatives. Give us a call today, at 1-800-695-5164 (8 a.m. to 10 p.m., ET, Mon.-Fri., 9 a.m. to 5 p.m. on Saturday).
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The AARP Life Insurance Program makes available to its customers a convenient way to pay insurance premiums that will save time and money. Our Automatic Premium Payment plan allows you to have your insurance payments deducted electronically from your bank account.
You have the convenience of never having to write a check, pay for postage, or worry about a late or missing payment. And, with most insurance plans, you receive a discount on your premiums. With
the Automatic Premium Payment plan, your premiums are always paid on time and verified
on bank statements so that you
and your family have an accurate record.
You can enroll in our Automatic Premium Payment plan at any time, and have the funds withdrawn from either a savings or checking account.
To learn more about this payment option, please call our toll-free
customer service number below. We can answer any questions you may have, or enroll you at that time, conveniently and easily.
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1-800-695-5164
8 a.m. - 10 p.m. , ET, Mon.-Fri.,
9 a.m. - 5 p.m. on Saturday
- or -
Visit our Web site
www.nylaarp.com
for information on
how to enroll
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Your AARP Life Insurance Program certificate contains an important feature: the Accelerated Death Benefit (sometimes called a Living Benefits Rider)*. This benefit allows you to receive up to 50% of your policy’s death benefit should you be diagnosed with a
terminal illness and given a life expectancy of 12 months or less.**
There are no limitations or
restrictions on the way you spend the money. You can use it to pay medical bills, legal expenses, or even to visit relatives. The balance of your death benefit will be left to your beneficiary. (Since this may affect your ability to receive public assistance, you may want to consult your tax advisor before exercising this option.)
While we hope you never have to take advantage of this feature, we’ve tried to make it as easy as possible if you do. Just call either of the toll-free numbers and ask a
representative to send you an accelerated death benefit claims form. When it arrives, simply
complete the form, provide the documentation requested, and return it in the postage-paid
envelope provided. If we have any questions or need additional information, our representatives will be in touch.
* Feature currently not available in MA.
** In WA, 24 months or less.
To Request Accelerated Death Benefits:
Claims Department:
1-800-695-5165
8 a.m. - 5 p.m., ET, Mon.-Fri.
Customer Service:
1-800-695-5164
8 a.m. - 10 p.m., ET, Mon.-Fri.,
9 a.m. - 5 p.m. on Saturday
(Before you call, please be sure to have the insured’s full name, social security number, and certificate number handy.)
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AARP Publications has announced the consolidation of AARP Modern Maturity and My Generation into one magazine, titled AARP: The Magazine.
While the publication has a new name, AARP wants its readers to be assured that AARP: The Magazine will continue to carry the same kind of informative editorial their readers have come to know and expect - inspiring them to make the most of the second half of their lives.
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Thanks to screening and early detection tools, health professionals can help you identify health problems and even life-threatening diseases early. According to the Agency for Health Care Policy and Research (AHCPR), a part of the Department of Health and Human Services, there are a number of routine screening tests that people over age 50 should discuss with their doctors.
Tests can detect certain cancers, such as skin, oral, breast, uterine, colon, and prostate. In addition, men and women should seek screening for blood pressure, cholesterol, diabetes, tuberculosis (TB), dental health, hearing and vision. Women should speak with their doctor about a clinical breast and self-breast examination, as well as a mammogram and PAP Smear. Men should speak with their doctors about prostate cancer screening. For more information, go to www.ahcpr.gov.
Preventative practices can go a long way in keeping illness and disease at bay. Talk to your doctor about the routine screenings that are right for you.
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New York Life was pleased to be one of 15 companies recognized in a 2002 Survey conducted by AARP, as an organization that reaches out to older workers, creating a culture that makes it easier and more desirable for them to remain in the workforce.
"The purpose of this survey is to highlight those [companies] where workers over 50 can feel that they are really welcomed," said Gordon Silcox, Senior Vice President of client services for human resources consultants Manchester Inc.
Mr. Silcox was one of four experts asked to review the survey results and judge each company based on their approach to recruiting, corporate culture, wages/salaries, continued opportunity, benefits, and retirement.
Representing New York Life and the AARP Life Insurance Program, George Nichols III, Senior Vice President said, "We are extremely pleased to have been selected for this honor. Our company recognizes and appreciates the contributions mature workers bring to the table and, with America’s workforce growing steadily older, feel the environment we have created is in everyone’s best interests."
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An estimated 17 million Americans, or 6.2% of the population, have diabetes. While 11.1 million have been diagnosed, unfortunately 5.9 million people (or one-third) are unaware that they have the disease. Diabetes is a disease in which the body does not produce or poorly uses insulin. Insulin is a hormone that is needed to convert sugar, starches and other food into energy needed for daily life. The cause of diabetes remains a mystery, although both genetics and environmental factors, such as obesity and lack of exercise, appear to play roles.1
But, there is some good news. While diabetes is incurable, it is - in most cases - treatable. And with timely intervention, those who are at risk or diagnosed with a condition called "pre-diabetes" may be able to avoid it altogether.
To know whether you are at risk for this disease, ask yourself the following questions:
- Do you have a family history of diabetes?
- Do you have high blood pressure?
- Are you overweight?
- Did you experience gestational diabetes while pregnant?
- Are you a member of any of the following groups: Women, African-Americans, Native Americans, Latinos or Pacific Islanders?
- Do you lead an inactive lifestyle?
If you answered, "Yes" to any of the above questions, you may be at risk for developing diabetes and should probably have your blood-sugar levels tested regularly.
While only a physician can properly diagnose your illness, some of the more common warning signs are:
- Frequent urination
- Excessive thirst
- Sudden vision changes
- Tingling or numbness in extremities
- Sores that are slow to heal2
For those diagnosed with diabetes or even pre-diabetes, there are steps you can take to manage your condition and reduce your risk factors. As the questions above would suggest, a proper diet and regular physical activity may help ward off some forms of the disease. If you already have diabetes, the same regimen can help minimize its effects, but in more severe cases medication may be required.
For more information on diabetes prevention, detection, or treatment, we recommend the following resources:
1 American Diabetes Association,
www.diabetes.org,
Basic Diabetes
Information, Page 1.
2 Center For Disease Control, CDC’s Diabetes
Program, Frequently Asked Questions,
www.cdc.gov/diabetes/faqs, Page 2, "What
are the symptoms of diabetes?"
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AARP is offering its members AARP LifeAnswers, a service designed to help solve problems, save time, reduce stress, and enable AARP members to live well. This personalized service features round-the-clock access to a team of professional consultants providing AARP members with instant information, resources and referrals for an expansive array of services. Whether AARP members want to find services for adult and elder care, child and family care, chronic disease management or life
learning, AARP LifeAnswers is the one-stop source for information and support.
The service provides needs-based research, helps locate local resources, and offers expert advice to people over 50, as they encounter a variety of life challenges. These experts can assist in finding an assisted living facility for an elder
family member; raising children and/or grandchildren; managing home responsibilities; getting from point A to point B; or dealing
with health conditions. Besides help with these challenges,
information is available on
interesting activities and places to explore: computer classes, cruises, dance lessons, yoga.
"AARP is proud to offer this
comprehensive and convenient service for AARP members," says Dawn Sweeney, President of AARP Services, Inc. “Our members need
information and resources that empower them in their daily
decision-making, and they want more freedom to enjoy their lives. LifeAnswers is a valuable solution that helps them with both.”
The $99 annual subscription rate for AARP LifeAnswers gives
AARP members unlimited access to expert phone consultations on adult and elder care services, child and family care services, chronic
disease support, convenience services, life learning resources, and a web-based information center www.aarp.org/life. All of these services are confidential and
available 24 hours a day, every day, year-round. The toll free number to reach AARP LifeAnswers is
1-877-217-7800.
Note: AARP LifeAnswers is a service provided by AARP for their members. It is not affiliated with New York Life Insurance Company.
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