New York Life is Market Share Leader in First Quarter 2007 for Guaranteed Lifetime Income Annuities

New York Life Insurance Company, New York, has announced that it is ranked as the number one provider of guaranteed lifetime income annuities in the country according to an industry source.

“As sources of reliable retirement income such as corporate pensions decline and the average number of years spent in retirement expands, consumers are increasingly looking for ways to stretch their nest egg to ensure they have enough savings to last throughout retirement,” said Paul Pasteris, senior vice president of New York Life. “Lifetime income annuities can help make this possible by providing a stable, guaranteed stream of retirement income together with immeasurable peace of mind. New York Life has focused on helping consumers build lifetime income annuities into their retirement plan by providing flexible, innovative products that address their needs and concerns. Our number one ranking is evidence that this approach is resonating with the public.”