Ratings

Life best-life-company-ratings
Overall Rating info icon info icon
4.0 ratings
Customer Service
4.0 ratings
Value for Price
4.0 ratings
Website and Apps
4.0 ratings
% Who Would Recommend to a Friend
81%
AM Best Financial Strength Ratings info-icon info-icon July 01, 2021
A++

HOW WE WEIGH OUR SCORE

WHAT IS THIS RATING?

A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.

A.M. Best's rating is NOT used to calculate the overall score but it is important information to consider when choosing an insurance 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
Term
Both
Other

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
17%
$500 - $749
16%
Less than $250
15%
$750 - $999
12%
$1,000 - $1,249
7%
$1,250 - $1,499
6%
$1,500 - $1,749
7%
$2,000 - $2,249
4%
$1,750 - $1,999
2%
$2,250 - $2,499
1%
$2,500 - $2,749
2%
$2,750 - $2,999
3%
$3,000 - $3,249
4%
$3,500 - $3,999
3%
$4,000 or more
2%
life
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Customer Complaint Ratio

info icon
( New York Life’s customer complaint ratio for Individual Life insurance is 0.40 )
( New York Life’s customer complaint ratio for Group Life insurance is 1.05 )
0.40
0 1 3 10+
1.05
0 1 3 10+
Lower number is better
0 to 1.00
1.01 to 3.00
3.01 and above

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 to recommend?

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

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%
  • Unsatisfied / website and/or apps are not fulfilling my needs 3%
  • Very unsatisfied / digital offering is severely lacking 0%

How do you prefer to deal with insurer and policy?

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

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

About New York Life Insurance Company

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.

Contact New York Life Insurance Company

Corporate Headquarters

New York Life

51 Madison Avenue, Suite 3200

New York, NY 10010

Telephone: 1-800-225-5695

In which states New York Life is available?

States in which New York Life is available
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Washington D.C.

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