New York Life Insurance Company (NYLIC) is a mutual insurance company, which means it is not publicly traded and has no shareholders. References to ownership refer to NYLIC's policy owners who purchase its participating products. These policy owners share certain membership rights, such as voting in board of directors elections and being eligible to share in annual dividends that are declared by the board. NYLIC is also the parent company of two other wholly owned life insurance subsidiaries. Policies issued by these subsidiaries are not participating and do not share in these rights.
