New York Life offers various insurance policies, from whole, term, variable, and universal life insurance. The firm has been in business since 1854 and is well-known for its high customer satisfaction ratings. On the other hand, New York Life does not provide online quotes. In this article, we’ll review the New York Life offerings.

The Pros and Cons of New York Life Insurance


• They offer customizable policies and riders.

• They cover disability insurance and living expenses.

• Term life policies can be converted.

• It’s available all over the country.

• Ranked number 9 in J.D. Power’s customer satisfaction survey for life insurance.


• They don’t offer online quotes.

• The majority of policies require a medical examination.

 Insurance policies from New York Life

New York Life provides both term and permanent life insurance. You can choose from New York Life’s level premium convertible term, annual convertible term, and million-plus level term.

A permanent life insurance policy pays a death benefit, accumulates cash value, and may pay dividends, depending on the policy you choose. New York Life offers whole, term, variable, and universal life insurance policies.

There are also options for supplementing your insurance, from long-term care insurance to individual disability. You can also add riders to your coverage for an extra charge.

 Yearly convertible term: This term’s cost starts low and steadily rises yearly. It’s also convertible, which means you may go from term to permanent coverage without having to take a medical test.

Level premium convertible term: With this policy, you can pay your premiums for a duration of 10 to 20 years. Premiums remain constant throughout the policy and will rise once it expires.

Million plus level term 10: This term life policy provides coverage of $1 million. Premiums remain the same for the first ten years of your policy and then steadily climb as your term expires. 

Whole life insurance: This long-term policy provides a death benefit, accumulates cash value, and may provide yearly dividends.

Custom whole life insurance: With this policy, you may pick the length of time to pay premiums (as little as five years) and maximize your cash value growth.

Universal life insurance: This policy includes a death benefit, the capacity to accumulate cash value, and pay premiums when and how often you want.

Custom guarantee: This life policy is suitable for clients who require death benefits but do not require the accumulation of monetary value.

Protection until age 90: This policy is an excellent choice for people who require wider life insurance coverage. It offers up to $1 million in coverage for a certain period before they turn 90.

Variable universal life insurance: This policy gives you access to a variety of tax-advantaged investment options based on your objectives and risk tolerance.

Types of Term vs. Permanent Life Insurance

  • Level premium – Whole lifeAnnual renewal (ART)-Universal life
  • Return of Premium – Guaranteed Universal
  • Convertible – Indexed Universal
  • Group life insurance – Variable life
  • Guaranteed issue – Variable universal life
  • Simplified issue 
  • Final expense   

Additional policies and rider options from New York Life:

  • Individual disability insurance
  • Long term care insurance
  • Spouse’s paid-up insurance policy purchase option rider
  • Living benefits rider
  • Disability waiver of premium
  • option to purchase paid-up additions
  • Chronic care option
  • Death benefit
  • Accidental death benefit
  • Money-back option rider
  • Return of premium rider

Is New York Life a reliable source of information?

We looked for complaints about New York Life in the NAIC Complaint Index. In comparison to other leading insurers, the firm has received far fewer complaints.

New York Life’s financial stability is excellent, with an A++ rating from A.M. Best (Superior). While New York Life is a genuine insurance company, you should do some research to make sure it is the right insurance company for you.

Frequently Asked Questions (FAQ) About New York Life 

Where can I get New York Life?

In all 50 states, New York Life is accessible.

Is it possible to take money out of my New York Life insurance policy?

You can borrow against your cash value or take partial withdrawals for your financial needs, and it is a tax-deferred account.

How much does it cost to live in New York?

Your insurance premiums are determined by several criteria, including your age and health status.

Contact Information:
Email: [email protected]
Phone: 2564383071

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About Kathy
Kathy Hollingsworth
Licensed Agent Federal Educators of America