Ratings

Life best-life-company-ratings
Overall Rating info icon info icon
Customer Service
Value for Price
Website and Apps
% Who Would Recommend to a Friend
81%
AM Best Financial Strength Ratings info-icon info-icon November 08, 2020
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
Individual Life
0.40
0 1 3 10+
Group Life
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 is New York Life life insurance available?

AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

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