Flood Insurance

Required in designated areas on all types of building. If the lowest part of the building is located above 100-year flood mark, the borrower may be exempted from the flood insurance requirement.

Source: Real Estate Reference

New York Life's Ranking On Fortune 100 List

New York Life ranks #74 on the prestigious Fortune 500 list. Each year, Fortune magazine collects revenue data from the largest companies in the Unites States and publishes the rankings. The published list is considered a “who’s who” of corporate America. New York Life has a stronger position on the Fortune 500 list than other powerful brands including Alcoa(79), Tyson Foods(80), Cisco Systems(83), Coca Cola(89), and Raytheon(97).

From the April 17, 2006 issue.

Permanent Life insurance

Life insurance that provides coverage throughout the insured’s lifetime and also provides a savings element that builds a cash value.

Source: AccuQuote

Life insurance

Life insurance, sometimes referred to as life assurance, provides for a payment of a sum of money upon the death of the insured. In addition, life insurance can be used as a means of investment or saving.

Source: Swiss Re

Universal Life insurance

Life insurance with an investment component as well as a death benefit. You, the policyholder, have the right to increase or decrease the investment amount.

Source: Investor Awareness

Insurance: Definition

A contract in which one party agrees to pay for another party's financial loss resulting from a specified event (for example, a collision, theft, or storm damage).

Source: The Federal Reserve Board