How to choose the best life insurance company for you
Key questions to ask any company before you buy
You’ve made the decision to purchase life insurance. Naturally, you want to find the right policy to help safeguard your family’s financial future. But determining the coverage levels you need, which products best fit your circumstances and how to buy a policy are only part of the challenge.
The company you choose can make all the difference
A life insurance policy is only good as the company behind it. Before you purchase a policy, we suggest you check out the company you are considering and ask some questions.
- How is it structured?
- What are its financial strength ratings?
- What is its dividend history?
- How committed is it to training its agents?
These are important questions because you are probably purchasing life insurance to cover a long-term financial need and you should have confidence that the company you select will be able to meet its financial obligations (especially to you), whether it’s today or well into the future, and pay beneficiaries the death benefits they deserve.
Why New York Life is the better choice
Since you’re reading this article, chances are that you may be considering the merits of doing business with us. Here are our answers to those questions and some additional facts you should know before making your decision.
- A business model focused on mutuality. As the oldest mutual life insurance company in the U.S., New York Life is owned by its policy owners. And, we plan to remain a mutual company. We’re entirely owned by our policy owners, not by stockholders or outside investors. That enables us to take a long-term view, without having to worry about a stock price on a quarter-by-quarter basis. In short it means our focus stays fixed on one audience, our customers, not the demands of the market. You can read more about our commitment to mutuality here.
- Exceptional financial ratings. New York Life received the highest ratings currently awarded to any life insurer by all four of the major credit rating agencies: A.M. Best (A++); Standard & Poor's (AA+); Moody's (Aaa); and Fitch (AAA).1 You can read more about our financial strength ratings here.
- Broad portfolio of quality financial and insurance products and services. New York Life maintains a diverse selection of quality financial and insurance products such as life insurance, investment annuities, guaranteed retirement income, mutual funds, and long term care. Learn more about all our product offerings here.
- Trained and highly skilled national agency sales force. New York Life boasts an extensive network of career Agents who gain expertise and knowledge through a combination of rigorous company training and continuous educational studies. Agents work with you one on one to analyze your needs and create a customized financial strategy that’s appropriate for you and your situation. Find out more about the career-long training our agents receive and sales careers opportunities here.
- Long history of paying dividends. While dividends are never guaranteed, New York Life has a long history of paying dividends to its policyowners. In fact, we have paid a dividend every year since 1854. To find out more about our dividends-paying history and how much policyowners received this year, click here.
- Consistent industry leadership. For the 59th consecutive year, New York Life Agents have led the industry in the Million Dollar Round Table (MDRT) membership, the premier international association of financial professionals. This achievement highlights our Agents’ exemplary performance, knowledge, and commitment to client service. Find out more about the MDRT and our leadership position here.
- Rich company history. Since 1845, New York Life’s been protecting the livelihoods of families, businesses, and individuals. We’ve insured people from all walks of life including U.S. presidents, civil rights leaders, athletes, entrepreneurs, and business leaders. Find out more about our company history here.
- Award-winning consumer web site. New York Life has received numerous accolades for its consumer web site. These include Dalbar’s highest rating for 37 consecutive quarters on functionality, relevance of content, image, usability, and consistency as well as ”Outstanding Website” from the 2013 WebAwards competition.
Let us earn your trust.
While we do it every day, for New York Life, selling life insurance and other financial products is so much more than a financial transaction. It’s about building enduring Agent-client relationships, about helping people Keep Good Going in their own lives, and most of all about keeping promises, all bound by the time-honored assurance that protecting your loved ones is as important to us as it is to you.
So, go ahead. Shop around. When it comes to buying life insurance, we want you to make an informed decision. But, given our reputation, history, and outstanding customer service, we’re confident you’ll find your way back to us.
1 Source: Individual Third-Party Ratings Reports as of 8/1/13.