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Depending on the type of information needed, they may contact a third-party directly; if a third-party is contacted, we will notify the customer or beneficiary. How long will it take to process the claim? After we receive all requested information, a claim decision will be available within 10 business days.
The policy's cash value can be accessed during your lifetime through loans or surrendering any paid-up additional insurance. You can borrow up to the maximum loan value from your policy's cash value through policy loans, generally on a tax-free basis3.
$2.0 billion total dividend payout declared for 2023. $1.2 trillion of individual life insurance in force in the U.S. $710 billion in assets under management.
A: Once your claim is approved, we process payments immediately. It takes about seven days for direct deposits to show up in your bank account or 7 ? 10 business days to receive a check in the mail.
Here you can request certain changes or transactions on your New York Life products. Have any service related questions? Give us a call at 1-800-225-5695 Monday to Friday, 9am to 7pm ET.