We recommend products and services based on unbiased research from our editorial team. We make money via affiliate links, which means if you click a link on our site, we may earn a commission. Any commissions we receive do not affect our recommendations; if you want to know more about how that works, read more.
New York Life has been helping clients find flexible life insurance coverage since 1845. Where the company stands out is its flexible coverage delivered through an advisor-led model, complemented by modern digital tools. Policyholders can manage their accounts online via the Service Center, start a life insurance claim online, and use planning calculators; AARP members can also get quotes and apply online through the AARP Life Insurance Program.
New York Life Insurance Overview: Financial Strength, Availability, and History
New York Life is available in all 50 states—and Washington D.C.—and has been serving insurance clients since 1845. The company also enjoys top-tier financial strength ratings from S&P Global Ratings, Moody’s, and AM Best, making it one of the most reliable life insurance providers in the country.
When it comes to customer experience, industry benchmarks point to stability. The J.D. Power U.S. Individual Life Insurance Study reports steady overall satisfaction in recent years, and the ACSI places Life Insurance & Annuities at 78/100. New York Life’s complaint index has generally been below the NAIC baseline of 1.0 in recent years (NAIC Consumer Insurance Search), and the company appears on Fortune’s World’s Most Admired Companies list in Insurance: Life & Health. For context on BBB letter grades, see the BBB rating system overview.
- In business since: 1845
- S&P Global financial strength rating: AA+
- Moody’s financial strength rating: Aaa
- AM Best financial strength rating: A++
- States served: 50, plus Washington, D.C.
New York Life best for: Flexible coverage options
Pros:
- Flexible coverage options (term, whole, universal) with advisor guidance, plus digital self-service and online claims.
- Strong financial ratings from S&P, Moody’s, and AM Best provide peace of mind for policyholders.
- Partnership with AARP offers members both term and permanent life insurance with online quotes/applications and select options with no medical exam.
Cons:
- No instant online quotes for most core policies; purchasing is primarily advisor-led.
- Pre-sale price comparisons on the website are limited; many details are discussed with an agent.
- Product features and term options vary by state and underwriting; confirm specifics with a local advisor.
The Competition
| AM Best Financial Strength Rating | J.D. Power U.S. Individual Life Insurance Study | NAIC Complaint Index | |
| New York Life | A++ | Included; carrier-level scores not publicly released | Below market-average complaint index in recent years (see NAIC tool) |
| Northwestern Mutual | A++ | Included; carrier-level scores not publicly released | Varies by year/line—see NAIC tool |
| State Farm | A++ | Included; carrier-level scores not publicly released | Varies by year/line—see NAIC tool |
| Nationwide | A+ | Included; carrier-level scores not publicly released | Varies by year/line—see NAIC tool |
| Mutual of Omaha | A+ | Included; carrier-level scores not publicly released | Varies by year/line—see NAIC tool |
| Principal | A+ | Included; carrier-level scores not publicly released | Varies by year/line—see NAIC tool |
All information accurate as of 2025.
The Bottom Line
New York Life has established itself as a leader in the life insurance space thanks to flexible coverage, strong financial strength, and a hybrid service model. The company is an especially great fit for AARP members since they can access term and whole life options with online quotes/applications and, for select offerings, no medical exam via the AARP Life Insurance Program. For shoppers who want fully digital, instant quotes and side-by-side online price comparisons for most core products, New York Life remains more advisor-led—though it now provides robust self-service through the Service Center and an online claims experience.
