Throughout uncertain times, nothing is more reassuring than the foundation built by an insurance carrier like New York Life has been doing. It has thrived while others have fallen, and continues to remain one the top term life insurance companies in America. This is our New York Life Insurance Company review and is our own opinion.
Our New York Life Insurance Company Review
New York Life Insurance firm is the largest good life insurance company in the usa and boasts $381B in assets which are under its management. It maintains in excess of $19B in surplus dollars, giving way to the best financial ratings a standard bank can currently be granted, and only a select few of the best life insurance companies can say the same.
Top Tier Ratings
It holds the superior ratings from all some major rating agencies, including A. M. Best, Fitch, Moody’s, as well as Standard & Poor’s. The ratings use strength, solvency, and a forward outlook towards the near and distant future to reflect the prospect of safety and security within longevity.
Getting its start 169 years ago, it can also say it’s among the longest standing companies in the profession. As a mutual company, it is solely had by its policy cases, and not by investors, and one of the few companies to stay structured like this currently. It pays a dividend in order to its policy holders into the cash value of the entire life insurance policies it provides.
The first policy ended up being issued to Lewis Benton which, at the time, ended up being the company’s elected admin. The policy benefit ended up being just $5, 000. Throughout its infancy, many of its very first policies were actually issued for the lives of slaves for the benefit of the slave owners. Nowadays, it is a leading insurer for families, small establishments, and large companies likewise.
Since those times, Nyc Life has been the issuing company for several other well-known figures within American history, such because Susan B. Anthony, many United states Presidents, and even Walt Disney.
Currently an income 500 company, the company has many additional awards to its reputation, including having been ranked as one of the World’s Most Admired Companies inside the life and health insurance coverage sector. It also prides per se strongly on its 8, 500+ staff members, of which many are women and minorities. Nyc Life does business in all 50 states, as nicely internationally.
As well as its whole life coverage, the company offers several life insurance products, good funds, income annuities, varied annuities, long term care insurance along with other financial products under it is Investment Management (NYLIM) scale.
In fact, just this year, New York Life surpassed $1B in income annuity affiliate payouts. This is just among the many milestones New York A life insurance policy Company has set precedent pertaining to, not only in its own history, but in it is industry.
New York Life hosts its own mutual fund family known as Mainstay Investments, offering Investor class shares or a, B, C and My partner and i shares. It also participates in offering small establishments and corporate businesses along the nation access to old age accounts, such as some sort of 401(k) or 403(b).
New York Life Insurance Company can be well known for being the underwriter to the nationally recognized AARP, a seniors benefit organization aimed at aiding those over 60 in numerous different aspects, namely fiscally. AARP is one from the more trusted and go-to organizations for seniors and the elderly across the region.
|Company Name (and Subsidiaries)||New York Life Insurance Company (NYLIC)
New York Life Insurance and Annuity Corporation (NYLIAC)
NYLIFE Insurance Company of Arizona (NYLAZ)
New York Life Investment Management (NYLIM)
|Company Ratings||A.M. Best (A++)
Moody’s Investors Services (Aaa)
Standard &Poor’s (AA+)
|Headquarters (Address, Phone, Web)||51 Madison Ave.
New York, NY 10100
Phone: (212) 576-7000
|Policy Types Available||Term