ABOUT NYL
Company History
We have over 170 years of strength and security and look toward the future. It all began on April 12, 1845, when the foundation was laid for a new enterprise that would come to be known as the New York Life Insurance Company, Elected Secretary Lewis Benton purchased the first policy for $5,000. So, began a legacy of security and a commitment to keeping promises still reflected today in our core values.
As President and Chairman (1907–1932) Darwin P. Kingsley said, “When will New York Life be finished? Never! Its foundations are as deep as human love; its spires disappear in unfulfilled dreams of human aspiration; its great arches support an expanding nave which can cover and protect all who come.”
That passion and commitment to protection have continued unabated for nearly two centuries. We've seen the nation evolve and events occur that have affected the lives of Americans: from the Civil War, to the 1906 San Francisco earthquake, to the 1929 stock market crash, to Hurricane Katrina in 2005, 9/11, and of course, the 2008 recession.
The Company Has Been Around for 170 Years.
What does this all mean? Two things come to mind: New York Life is resilient and able to thrive in all economic conditions. This means we'll always be there for our policy owners, and for future generations; and there has never been a better time to be with New York Life.
We have 170 years of integrity, mutuality, humanity, and financial strength, and as we look toward a bright future built on those same values. Our agent’s dedication and exceptional service helps set us apart from the rest.
Company Strength
An insurance policy is only as good as the company behind it. To help consumers make intelligent decisions, independent services rate insurers. While the rating services use the same criteria to make their judgments, each focuses on a separate aspect of a company. New York Life Insurance Company and its subsidiary, New York Life Insurance and Annuity Corporation, have received the highest ratings currently awarded to any life insurer by all four major rating agencies as indicated below.
Moody's: Aaa for financial strength
Standard & Poor's: AA+ for financial strength
A.M. Best: A++ for financial strength
Fitch: AAA for financial strength
Financial Strength ratings are based on individual independent ratings agency commentaries as of 10/4/2024.
Company Mission
Our mission is to provide financial security and peace of mind through our insurance, annuity, and investment products and services. We act with integrity and humanity in all our interactions with our policy owners, business partners, and one other. Grounded in both confidence and humility, we serve as stewards for the long term. We are here for good, reflecting both the permanence of New York Life and our commitment to do the right thing in business and society. Everything we do has one overriding purpose: To be here when our policy owners need us.
