Despite lower interest rates and fewer life insurance policy sales on an industry-wide basis in 2017, the country’s third largest life insurer, New York Life Insurance Company, managed to post a 4% gain in revenue and an increase in profit. In turn, New York Life has pointed to its team of 12,000 policy-selling agents as its secret sauce. It wasn’t a perfect year, however. New York Life sought to pay nearly $3.4 million to settle a class action lawsuit with 25,830 members who alleged that the company made telemarketing calls using an automated dialing system.
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