Source: http://www.hoovers.com

Reviews & Ratings

dkarmol’s Full Review of New York Life Insurance Company

New York Life is strong, solid, and overcapitalized. These are just the features you want in a company that you hope will be there, year in and year out, just in case something should happen to you. In addition, sine it is a mutual company (a dwindling breed these days) you share in the companies investment success (or failure) and share in its profits through dividends. So a well managed company is important, just as thought you were buying stock.

I have a whole life policy with New York Life (see my other epinion on whole life v. term), which I have owned for about 12 years. It has continued to grow in value, and provides me with peace of mind.

When there were some questions a few years back, about the selling practices involved in selling whole life, New York Life offered a settlement to me which had the company pay the premium for a couple of years. They were prompt, fair and reasonable about the whole thing. I really appreciate that they seem to care about their customers.

In buying a whole life policy, the agent can be very helpful in assisting you to understand the various reasons you are buying the policy, and setting up a face value, a payment plan and other features to fit your family situation, your retirement plans , etc. A good agent should help you evaluate all these issues, then help you get the right insurance. My agent has been good – although not as good as my Dad was, when he was alive. (He was a New York Life agent all his life. This does not mean my opinion here is biased however- if the company did not have a good product, I would have switched or dumped them long ago. My dad died over ten years ago.)

Not all insurance companies are so good. 
I had a very different experience with John Hancock- see my epinion there for details.

yencha’s Full Review of New York Life Insurance Company

This company has been in business for 154 years, and have insured many presidents and even issued a check to the widow of General George Custer…They believe in putting the needs of a customer/client above all else…The rates are very competitive and they have agents who are trained and retrained so as to give you the most intelligent service possible…They will come to you, in your home if you wish to secure the application only after explaining in laymen’s terms the aspects of life insurance and how it can actually work for you…If you are in the market for life insurance or an annuity, you owe it to yourself to get intouch with a New York Life agent or office…If you just wish to be more educated on the insurance benefits available to you and your family, then take the time to sit down with an agent…you can check out their site, www.newyorklife.com.
warmform’s Full Review of New York Life Insurance Company      

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