New York Life | October 20, 2023
What: New York Life Insurance Company, America’s largest1 mutual life insurer, was recognized in the life insurance categories within Investor’s Business Daily’s annual Most Trusted Financial Companies list and Forbes’ annual list of America’s Best Insurance Companies.
Why it matters: “These recognitions spotlight our ongoing commitment to be there for families and businesses when we’re needed most,” says Aaron Ball, senior vice president and co-head of New York Life's Foundational Business. “As a mutual company with a track record of more than 178 years, our customers know they can rely on us not just today or tomorrow, but decades in the future. Our customers’ trust is driven by our field force of more than 12,000 financial professionals who provide protection-first holistic advice and guidance to people every day, our broad suite of solutions that meet customers’ needs at every stage of life, and our commitment to remaining a mutual insurance company.”
New products: These recognitions come on the heels of New York Life’s launch of its new term life product suite, which provides greater value for clients’ protection dollars and supports preparedness for life’s financial challenges and opportunities.
“New York Life agents and advisors address a holistic set of clients’ needs, including protection, accumulation, retirement income generation, and legacy planning rooted in the philosophy that addressing protection needs ensures a strong foundation and prevents derailing other important financial goals,” says Ball. “This approach is complemented by our ongoing investment in technology to ensure the company is well-positioned to meet clients’ changing expectations in today’s digital world.”
1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/5/2023. For methodology, please see http://fortune.com/fortune500/.
* Neither Investor’s Business Daily, Forbes’ nor any of their third-party research firms receives any compensation in exchange for placement on their lists. Product performance was not a criterion.
America’s Best Insurance Companies 2024 evaluated on customer satisfaction, guidance agents offered, customer service, cost, company transparency, digital services and claims service.
2023 Most Trusted Financial Companies covered seven areas of trust: Financially sound/secure, Quality of products/services. Ethical business practices and values, Privacy and security of personal data, Customer service, Prices, Sensitivity to customer needs in the current economic and financial climate (inflation, stock market, etc.).
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