The New York Life Insurance Company is the largest provider of life insurance products in the United States, and is one of the largest providers in the world. The company offers a range of life insurance products and solutions and currently has over $500 billion in assets under management, has annual revenue in excess $25 billion per year, and net income of around $2 billion.
New York Life Insurance is well known for its quality life insurance products and services that it provides. It routinely receives the top overall ratings from all of the major rating agencies. New York Life offers both term life and whole life insurance policies.
The term life insurance policies offered by New York Life can vary to meet anyone’s needs. They will include initial policies that have coverage amount ranging from under $100,000 to policies that can range into the millions of dollars. The company also offers a range of terms, which can start with terms that are as short as five years and range to over 30 years. This helps to ensure you are able to find a type of policy that meets your needs and is also affordable.
Another common type of life insurance that they provide is whole life insurance. Whole life insurance provides typically a lower level of coverage, but it can be used as an investment as well. These insurance policies will require you to make higher monthly payments, but those payments can ultimately be liquidated at any time. Further, they increase in value, which allows the type of insurance to act as an investment as well.
With each standard policy, New York Life will have a typical underwriting process that will include a review of each person’s lifestyle, profession, and a medical examination. The company does offer policies that do not require a medical exam, but the premiums are normally higher and have shorter terms.
While New York Life is best known for its life insurance policies, they offer other products and services as well. The company is also a leading provider of retirement and investment services as well. One popular product that they provide are their annuities. With an annuity, you can provide a lump sum of cash to buy a guaranteed source of income for the rest of your life. These policies can also be altered to ensure your spouse or a dependent is covered as well. The company has dozens of different annuity options, which can help anyone find an option that meets their investment goals.
New York Life also offers some investment services for those looking to build wealth. The company has the ability to provide customers with a range of investment options, which are securely diversified investment bunds to ensure your value continues to grow in the future.