Chase Insurance Life Company of New York
The Chase Insurance Life Company of New York is one of the insurance properties of the financial giant, J.P. Morgan Chase. It along with its umbrella company, Chase Insurance Company, and sister company, Chase Insurance Life and Annuity, have been developed as prized investments and traded from one financial giant to another over the last few years as plums in their investment strategies. Originally formed in 1905 as Kemper Insurance, it was purchased in the 1990’s by Zurich Life. They were properties owned by Bank One, and were acquired by Chase when Chase bought out Bank One in the early 2000’s. Chase originally intended to keep and grow these insurance companies as part of their diversified holdings. However, because of the bank merger and a re-evaluation of Chase’s financial goals in the banking industry, they decided to sell off the insurance portion of their business. In February, 2006, these three companies were purchased by insurance giant, Protective Life Insurance Company, whose sole focus is insurance. Chase Insurance Company’s total assets are over $8.7 billion, with $1.2 million in life insurance in force.
The Chase Insurance Life Company of New York is customer-driven, with a goal of simplifying insurance for the client. They offer a full line of whole and term insurance products, and annuity products.
Chase's Term Products
- 5, 10, 15, 20, and 30 year level premium plans which are renewable up to age 95. (These may be converted, in some cases, up to age 70).
- May purchase up to age 75 for five-year plan.
- Face amounts ranging from $100,000 to $30,000,000.
- Non-tobacco rates.
- Cholesterol-range rates.
- Rates for blood-pressure ranges.
- Rates for good driving history.
- Rates for good genes (based on family history).
- Rates for avoidance of hazardous occupations, travel, or hobbies.
- Children’s insurance (companion policy only).
Chase Insurance Life Ratings
A.M. Best: A
Standard & Poor’s: A+
Moody’s: A2
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
Contact Chase Insurance Life Company of New York
www.chaseinsurancecompany.com
2500 Westfield Drive
Elgin, IL 60123
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