When my Father past away in 2006 he had numerous Life Insurence policies and I was the Trustee of his estate. It was a very, very difficult time and very confusing with all the different policies and forms and phone calls. But New York Life was wonderful, they walked me through the whole process, helped me with the forms step by step and were very compastionate and caring. They were very professional , because it was a trust and not just a striaght policy it was some what more involved, so alittle bit more complicated but they made it a smooth , easy as possible process for me . They were very quick to get everything all completed and a check out to me to be depostied into the trust. I can't say enough about how helpful they were. There was more than one policy as well, so it was double paperwork and double everything. I definatley , highly recommend this company for life insurance. They really are wonderful and they really make the family members feel that they care.

dgrisolia

USA

Recently updated my life insurance policy to add further coverage for the family. I compared the be various major insurance company and found New York Life to be a first class organization. The insurance agent immediately call me to schedule an appointment to explain the various products. New York Life offers an array of insurance and financial products that can be customizes to your risk tolerance and duration. I found certain products to have higher fees associated with the product and not as competitive to other financial products. I chose New York Life for certain insurance products based on their solid reputation to be around in the future and when I eventually retired. New York Life solid financial soundness is the sole reason we chose to go with a financial institution that may have higher fees than I would normally accustomed to paying. After the financial crisis choosing New York Life for its solid and sound reputation allows customer to sleep at night without fear of loss. Customer Service I found customer service to be excellent with prompt follow-up and feedback. Available Plans New York Life offers a wide range of available plans for their customers. I highly recommend that you consult with a professional license insurance person to explain in details the available plans to meet your needs.

dgrimes23

Newburgh, NY

Full disclosure - I'm a former agent with New York Life, but not in that business anymore, and have no conflict of interest in writing a good review - or a bad one, for that matter. I personally own a term insurance policy, a whole life policy and a long-term care policy with them, and kept them in force long after I left the company several years ago. NYL is a mutual insurance company. That means it's owned by policyholders and not by stockholders - which is a significant structural advantage for a life insurance company, in my view because the interests of the policyholders and the company are aligned. Without getting too deep in the weeds, New York Life is extremely stable and well capitalized. If you're worried about an insurer going out of business - well, that's theoretically possible, but NYL has consistently had financial ratings at or near the top of the industry for decades. The premiums are a little higher than you might find elsewhere, which is most significant with term insurance. However, different companies underwrite people in different ways, so your mileage may vary. NYL insurance policies had very attractive riders, though, so you have the option to convert a term policy to any permanent policy from NYL for 10 years if you wanted to. If you're disabled and you bought what's called the "waiver of premium rider" and you're under a certain age, NYL keeps up the premiums for you and eventually replaces the policy with a fully paid up whole life policy - with cash value. It's not the only company that has this feature, but it's all in the underwriting... mutual companies have a tendency to be more lenient with definitions of disability for this purpose, where a stock-owned company has to answer to stockholders rather than policy holders, and is more inclined to fight you. NYL's whole life policy is excellent for fans of cash-value insurance. (Northwestern also does extremely well). If you have a stable source of income and you are in a position to OVERFUND one of these policies, you can do very well in the long term. It's not a great fit for people who are just getting by, who are usually better off with annually renewable term. But it's a fantastic solution for people with some free cash flow they want to put away in a conservative place. The downsides - agent turnover is high - especially with newer agents. So you never know who your agent is going to be in two years. This is true across the board. However, agent training is excellent, so even 2nd year agents are very knowledgable. This isn't true for a lot of companies that don't invest as much in training. The UL policies were very conservative, as were their fixed annuities, including their lifetime income annuity. They had some attractive riders, but NYL doesn't like to get fancy or cute with bonuses, equity index annuities, or any of that jazz... the benefits of which are usually illusory, anyway. The Long Term Care policy they offer is outstanding. It's not cheap, but you get what you pay for in that line of insurance. Overall, they had the best policy in the country when I was representing them, and there's much less competition now than there was then, as several big carriers have pulled out of that business. NYL is still in there swinging. NYL has historically been slow to adopt new technology, so their website interface is pretty clunky and my clients were occasionally confused by their billing statements. That's where a good agent makes the difference. I also wish NYL had a disability policy, but they elected not to do that. At the end of the day, I was very impressed by the people at NYL, I own and recommend several of their products where appropriate, and I wouldn't hesitate to recommend them to others.

jvansteenwyk

USA

I was pregnant and failed for health reasons for insurance but once I had my daughter was able to get insurance with no issues. Customer Service local rep is amazing - explained the difference between term and whole - went for whole even though it is more expensive works best for me overall

kimwiehe

Horseheads, NY

When I called this company I was directed to an agent who actually came out to see me and explained the products in detail that would both serve myself and my family while still being affordable.  The agent went over all of our financial objectives, both current and future an informed us that he would always do an annual review to update our file and position us toward eventually saving more of our income, hopefully in products that would be tax free.  We were given the option to pay in several different ways (annual, semi-annual, quarterlyof check-omatic) so we chose semi-annual which will save us a few dollars every year on our premium.  My husband and I felt very relaxed and comfortable with the agent, he was not at all "pushy" nor did he ever speak above our level of understanding.  We were asked to give him referrals in a very non-threatning way and he has kept all of his promises to us as far as delivery and premium are concerned. Customer service since has been outstanding.

kelvinswife

Rocky Mount, VA

I really believe that new york life insurance is one of the best insurance company in the united states.  I have new york life's life insurance for over 3 years now.  I am very happy and satisfy with all the customer services provided by the company.  The local agent always keep in touch with me and my family to make sure that everything is okay.  If I want to know more infomations about my benefits and other questions, the agent would make sure that she will come to explain them to me in person.  We never have to discuss anything over the phone.  She always at my place and give me brochure and booklets I need for all my questions and concerns.  The quotes are alway very reasonable and affordable for all of my family members.  I have recommended a lot of my friends to joy with new york life and it seems like everyone is happy about it.  i hope that this review will help a lot of people whom have been ripped of by other life insurance companies and trying and looking for new and honest insurance company.

suchanee1980

Pompano Beach, FL