During the past few weeks, the Coronavirus has spread into our consciousness and our communities, raising concern for all of us. Current events are uniquely unsettling as the outcome feels uncertain not just for our jobs, our economy, and our overall financial security—but also for what truly matters most—our health and safety, and the health and safety of those we care about most.
During the past 175 years—through the Yellow Fever epidemics in the 19th century, the great pandemic of 1918, two world wars, the Great Depression, and the Financial Crisis of 2008-2009—we have been able to show both strength and empathy as we protected the future for our clients and their loved ones. Having experienced and successfully navigated all of these prior crises in our country, we have the humility to know that we can’t predict the future, but the confidence to know that we can prepare for whatever it may hold.
What should make you confident is not just our longevity (175 years of service to people like you), but that we have chosen to stay true to the core values upon which our company was built (financial strength, integrity and humanity) and to remain rooted in our unique identity as a mutual company* with no shareholders so we can focus on our policy owners, placing our highest priority on you and your well-being.
While the days and weeks ahead may continue to sow more doubt and uncertainty, please know that we are here to help, and we are always on call. If you have any questions or concerns, please don’t hesitate to reach out to your New York Life agent, who is well-prepared to help you navigate the turbulent environment, answer questions, or address any needs that you may have. In addition, remember that you can always access your account online.
Please be aware that to protect the health and safety of our employees we have taken a series of actions that include implementing work-at-home and flexible work arrangements, suspending all international and domestic business travel, prohibiting attendance at large external gatherings, limiting the size of in-person internal meetings, and broadly increasing the use of virtual communication capabilities across the company. Despite these significant changes, we will strive to continue to provide you with the responsive and compassionate service you expect from us.
Nothing matters more than the health and safety of those we love. We deeply understand that, and know that together, we will get through this crisis.
Ted Mathas
Chairman of the Board and Chief Executive Officer
