![\"New](\"https:\/\/www.bestlifequote.com\/wp-content\/uploads\/2019\/02\/newyorklife-300x169.jpeg\")
New York Life is among the most robust institutions in terms of financial strength, and this is backed up by the highest possible ratings from the major insurer rating agencies.<\/p>\nIf you\u2019re a responsible partner and parent, you\u2019ll be looking to the future and considering life insurance if you don\u2019t already have coverage in place.<\/p>\n
While you should take great care of your finances while you\u2019re alive, it\u2019s equally vital to make provisions for when you\u2019re not around.<\/p>\n
Life insurance policies give you peace of mind and come in flexible forms, so you don\u2019t need to over-commit yourself now to safeguard the future of your family.<\/p>\n
New York Life is the third biggest life insurance company in the US and the leading mutual company in a crowded market. Starting life as Nautilus Mutual Life in 1845, the company\u2019s initial specialism was fire and marine insurance.<\/p>\n
Renamed New York Life Insurance Company in 1849, life insurance was predominantly aimed at slave owners insuring their slaves. While this seems unsavory today, it was commonplace in the mid-1800s.<\/p>\n
New York Life was forward-thinking, and the board of trustees voted to abolish this practice in 1848.<\/p>\n
Growth continued throughout the American Civil War with both soldiers and civilians investing in coverage during this volatile period. Introducing a branch office set-up in 1892, New York Life began extending coverage to women, the disabled, and people with hazardous jobs needing to protect the interests of their families.<\/p>\n
The New York Life Building on Madison Avenue opened in 1928. As the stock market plummeted, New York Life remained in a strong position. They had diversified into government stocks and real estate, so most assets were safeguarded.<\/p>\n
As the 20th century progressed, New York Life began investing further in real estate and established a mortgage-loan program targeted at veterans. By 1970, New York Life offered annuities and mutual funds as well.<\/p>\n
Pivoting again during the financial crisis just like during the stock market crash, New York Life pushed cash into treasury bonds to stave off financial stress.<\/p>\n
Although much of the competition decided to trade publicly, New York Life opted to continue as a mutual fund, which is still the case today. The company is now working in a global asset manager with over $570 billion in AUM (assets under management).<\/p>\n
New York Life has no outside shareholders and is owned by its policy owners. As such, dividends are paid from a colossal operating income of $1.95 billion.<\/p>\n
New York Life offers mutual funds (both institutional and retail) as well as securities products through its affiliates.<\/p>\n
New York Life is among the most robust institutions in terms of financial strength, and this is backed up by the highest possible ratings from the major insurer rating agencies.<\/p>\n
While the ratings vary, that\u2019s only regarding the way these rating agencies express their judgment.<\/p>\n
AM Best Company gives New York Life an AA++<\/strong> rating, while Standard and Poor\u2019s AA+<\/strong> is also the highest possible rating. New York Life is rated as Extremely Strong (the highest rating) by Fitch Ratings and Moody\u2019s Investors Service.<\/p>\n Relying on ratings from these companies saves you the time and trouble of doing your own due diligence concerning trust and financial strength.<\/p>\n It allows you instead to focus on the particular type of life insurance policy that suits you best.<\/p>\n Whatever your requirements and whatever your budget, New York Life has life insurance to match.<\/p>\n Whether you want the affordability of term life insurance, the security of universal life coverage or a single premium plan ideal if you have an inheritance or windfall, you can choose from no less than six broad types of life insurance with many variations within those categories.<\/p>\nLife Insurance Products Sold By New York Life<\/h2>\n