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New York Life donates to Texas relief efforts

09/21/11

The New York Life Insurance Company recently announced it will donate $20,000 toward American Red Cross relief efforts in central and east Texas, where wildfires are causing some of the worst damage in recent memory.

Following a drought that's resulted in extremely dry conditions in the region and a period of strong winds from Tropical Storm Lee, wildfires spread quickly across the state, destroying everything in their path.

"When disaster strikes, New York Life is committed to helping our employees, agents and policyholders in the affected areas put their lives back together," said Eric Campbell, managing partner of New York Life’s Austin General Office. "The destruction was widespread, but also hit close to home, impacting the New York Life family as well. We extend our thoughts and prayers to all those touched by this tragic event."

New York Life has a history of making donations to support relief efforts. Most recently, the company donated $100,000 to benefit the victims of Hurricane Irene, which caused extensive damage along the eastern seaboard of the United States and into New York and Vermont.

Though a LIMRA study recently found life insurance subscription at a 50 year low, recent adjustments to policies and annuities have made the methods of financial security more attractive to investors. Some policies, for instance, include long-term care insurance riders to help offset the cost of nursing home care.

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