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New York Life sees significant sales increase in 2011

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According to Business Wire, New York Life Insurance Company's individual insurance sales increased by 13 percent in the first half of 2011 as compared to the corresponding 2010 months. The company, the largest mutual life insurance provider in the United States, saw growth in virtually every facet of its business, from annuities to new hires.

Pleased with the growth during a period of general financial uncertainty, Executive Vice President of U.S. Life and Agency Mark Pfaff noted the quality of the product and the skill and dedication of agents as the driving factors behind New York Life's success.

"New York Life and its 11,900 agents across the country are living up to the challenge to provide growing numbers of people with the peace of mind that comes from being a part of New York Life," Pfaff told the source. "Our growth during the continued economic unsteadiness is a sign of the importance of knowledgeable advice from educated, professional agents."

Though premiums remain at historic lows for many types of individual life insurance policies, participation in individual life insurance programs remains injured in the wake of the economic downturn, and the Insurance Information Institute notes that only about one third of all Americans today owns an individual life insurance policy.

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