New York Life unveils statue to honour Jaydev Patel

A statue has been unveiled in New York by a US-based insurance company to honour an Indian American who is the most successful agent in the company's history.

New York Life Insurance Company unveiled a statue of Jaydev Patel last month to recognise his career achievements.

The statue is located in a terrace garden adjacent to the Jaydev R. Patel Conference Center, which was dedicated to him last October to mark his 50 years with the company, according to a statement.

Mark Madgett, executive vice president and co-head of New York Life’s Foundational Business, said, "The statue’s placement, seated on a bench, will allow anyone visiting the conference center to take a photograph with Jay – fitting given the number of agents and advisors he has inspired and mentored over his long career."

“No one deserves this recognition more than Jay Patel. He is a true legend, and we are so thankful that his legacy at New York Life will live on forever,” said Sonali Virendra, senior vice president, who will assume leadership of New York Life’s Agency Department in January 2025.

Patel has been a member of New York Life’s Chairman’s Cabinet, which consists of the company’s top 50 agents based on sales performance, every year since its inception. In 1983, he became the New York Life council president, the highest accolade the company awards to an agent.

He has also qualified as a life member of the Million Dollar Round Table, an organisation in the life insurance industry, for 50 years.

Patel measures success not by awards but by the lives he has protected and the impact he has made on his clients and their families.

“I personally think there is no other profession, if practiced with integrity and compassion, that provides as much personal satisfaction. I truly enjoy my work. No matter how many hours I’ve put in over the years, they’ve never been the same as hours spent working for someone else," said Patel

"The greatest blessings of this business are the opportunities to serve and make meaningful impact, while also controlling one’s own destiny.”

Patel has also dedicated himself to philanthropic efforts, overseeing the renovation of three schools in Sojitra, India. This includes two high schools and a primary school, demonstrating his commitment to his hometown.

According to the statement, Patel’s achievements have not only inspired many to enter the profession but have also contributed to New York Life’s strategy of investing in the career agency model and strengthening its presence in cultural markets.

Founded in 1845, New York Life is the largest mutual life insurance company in the US.