New York Life honors Jaydev Patel with a statue

New York Life, one of the largest life insurers in the world, has honored Indian American Jaydev Patel as the most successful agent in its history with a statue recognizing his extraordinary career accomplishments.

Unveiled Sep 19, the statue sits in a terrace garden adjoining the Jaydev R. Patel Conference Center, a new, state-of-the-art collaboration space in the company’s New York headquarters, according to a company release. The Center was dedicated in Patel’s honor last October, marking his 50th year of service to the company.

“The statue’s placement, seated on a bench, will allow anyone visiting the conference center to take a photograph with Jay, which is fitting given the many agents and advisors across the country that he has inspired and mentored during his long career,” said Mark Madgett, executive vice president and co-head of New York Life’s Foundational Business.

Patel has qualified for New York Life’s Chairman’s Cabinet, a group of New York Life’s top 50 agents based on sales excellence, every year since its inception. A decade into his career, he earned the title of New York Life council president in 1983 – the highest honor the company can bestow to an agent.

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Having qualified for 50 years, he’s a life member of the Million Dollar Round Table, one of the most distinguished groups in the life insurance industry globally, as the standard of excellence for sales performance.

Despite his numerous achievements over the course of his outstanding and ongoing career, Patel shared that he measures success by the number of lives he has protected and the impact he’s had 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,” explained Patel. “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. The greatest blessings of this business are the opportunities to serve and make meaningful impact, while also controlling one’s own destiny.”

Over the years, Patel has committed to philanthropic work as well. In particular, he spearheaded and oversaw the renovation of three schools in his hometown, including two high schools and a primary school in Sojitra, Gujarat, India.

Patel’s personal success has played a pivotal role in inspiring many others to become agents and in furthering New York Life’s commitment to continuously invest in the career agency model by building a strong presence in the cultural markets, a significant growth area for New York Life today.

Born in 1942 in Sojitra, Patel lived in Kenya and Canada before immigrating to United States in 1968. Unable to find permanent work as a chemist, the newly married Patel sought economic stability. He was convinced New York Life was the best path.

Patel signed his contract on Sept. 21, 1973, the same day his son Sachin was born. He wrote his first policy on him. In his first month, Patel sold 50 policies totaling $1 million in protection for his new clients. In nine months, he paid more than $3,000,000 and qualified for the President’s Council. By the end of his first year, he had protected 158 lives, creating more than $4 million in death benefits.

His success also allowed him to give back to his hometown. His old high school was on the verge of crumbling, so Patel led an effort, organizing other members of the community, and raised more than $200,000 to save the school and turn it into one of the most modern schools in the area. More recently, he and Sachin Patel were actively involved in the creation of the Girls School and Women’s Economic Center in Jaisalmer, India.

(This story was originally published by The American Bazaar.)