Best Life Insurance Companies

New York Life Insurance Reviews And Ratings

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new york life
New York Life Ratings
Overall Rating
Customer Service
Value for Price
Website & Apps
Customers who recommend 81%
AM Best Financial Strength Ratings A++

About New York Life Insurance Company

Customer service/Claims 1-800-225-5695
Corporate Headquarters New York Life
51 Madison Avenue, Suite 3200
New York, NY 10010

New York Life was founded 175 years ago and is one of the oldest and largest mutual insurance companies in the United States.

Policyholders share in the ownership and have received dividends based on the company’s investment performance every year since 1854. In 2020, the company paid out $1.9 billion in dividends to eligible policyholders.

New York Life receives the highest financial-strength ratings and made the list of the world’s most admired companies in Fortune Magazine. The company has more than $1 trillion of life insurance in force and more than 12,000 agents throughout the country. The company focuses on life insurance, retirement income, investments and financial planning.

New York Life Insurance Company life insurance Coverages

  • Whole universal life insurance
  • Term life insurance
  • Universal life insurance
  • Variable universal life insurance
  • Long-term care insurance
  • Hybrid long-term care/life insurance

Best Life Insurance Companies 2021: New York Life Insurance Company

The company you keep. 175 years of trust.

How New York Life Insurance Company life insurance stacks up

New York Life Insurance Company earned a top-five spot in our annual review of Best Life Insurance Companies. They earned 4 out of 5-star ratings across the board in price, customer service and website & apps.

When we asked New York Life Insurance Company customers if they would recommend the company to others, 81% said yes.

How likely customers would recommend this company?

47.52% I would definitely recommend this company
33.66% I would probably recommend this company
18.81% Neutral
0% I would probably not recommend this company
0% I would not recommend this company

Reasons for Buying

Customers of New York Life originally decided to purchase from the company for these reasons:
  • 25% Recommended by friend or family member
  • 13% Reputation
  • 10% Offered best price
  • 10% Saw TV commercial
  • 8% Financial strength rating
  • 8% Was the company my parents had
  • 4% Saw online ad
  • 4% The company website and mobile apps are easy to use and helpful
  • 0% I had other insurance with this company

What kind of life insurance do you have?

Permanent, including whole life

How much do you pay annually for your life insurance policy (per person if have more than one life policy in your household)

$250 - $499
$500 - $749
Less than $250
$750 - $999
$1,000 - $1,249
$1,250 - $1,499
$1,500 - $1,749
$2,000 - $2,249
$1,750 - $1,999
$2,250 - $2,499
$2,500 - $2,749
$2,750 - $2,999
$3,000 - $3,249
$3,500 - $3,999
$4,000 or more

Ratings on Website & Apps

  • Completely satisfied / Outstanding website & apps that give me what I need and more 52%
  • Fairly satisfied / Fulfills my needs OK 28%
  • Average website and apps 15%
  • Very unsatisfied / digital offering is severely lacking 0%
  • Unsatisfied / website and/or apps are not fulfilling my needs 3%

How do you prefer to deal with insurer and policy?

  • In person 23%
  • Phone 33%
  • Email 16%
  • Interactive website 18%
  • Mobile App 6%

Customer Complaint Ratio


The complaint data is gathered from the NAIC Complaint Index, which collects complaint information from state insurance regulators and then compares a company’s performance to other companies in the same insurance market. The national average is always calculated to be 1.00; those above 1.00 are worse than the national average and those below are better (have less complaints) than the national average. Read more at the NAIC website.

Note: Many companies have a variety of subsidiaries listed with the NAIC, the one rated here may be different than the one that writes your policy. Check with your company/agent for specific information.

New York Life’s customer complaint ratio for Individual Life insurance is 0.4
New York Life’s customer complaint ratio for Group Life insurance is 1.05

In which states is New York Life available?

Customer Reviews

Our survey asked policyholders to share experiences or give feedback that they would like to share with others looking to potentially buy from their current insurance company. Here's what they had to say:

Customer Reviews

150 Reviews. 4 Stars out of 5
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