Overview
National Life Group
N/A
N/A
N/A
N/A
Undisclosed
New York Life
N/A
N/A
N/A
N/A
Undisclosed
Ratings
National Life Group
New York Life
Reviews
National Life Group
Reviews
New York Life
Reviews for National Life Group
Helpful Favorable Review
Zach I hoop
April 13th, 2022
Atlanta, GA
DETAILS
I put 2 stars at first but I give them 4 now. I had an issue with my daughter insurance policy but when my Agent contacted the company. They told her what happened. The issue was fixed immediately. Thanks
Helpful Critical Review
MC Pearson
April 19th, 2022
Everett, WA
DETAILS
Edited April 19th, 2022
I contributed over $25,000 to this organization back in the early 2000s. Now that I want to roll it over so that my money is consolidated the for retirement, they are not allowing me to do so. You can never reach a human by phone. You can’t access their website unless you’re currently contributing. I would warn anybody considering investing with this company to do their research, I am so frustrated I’m ready to take my problem to the next level.
Reviews for New York Life
Helpful Favorable Review
Julia UP
August 17th, 2021
Southbury, CT
DETAILS
Review Source
They make sure all your needs are met. They check with you often to make sure your policy is up to date. If at anytime there are questions that need addressing they are readily available to help. Would recommend
Helpful Critical Review
KATE
July 8th, 2020
Brooklyn, NY
DETAILS
New York Life sent us a medical examiner who was totally unprofessional. First. Even though he visited us at the time when the COVID-19 pandemic in NY just started, he did not put gloves on to take a blood sample. When asked to put gloves on, he demonstrated his disaffection and wore only one. Second. He was over 30 minutes late. Third. After the blood work, one of my veins has been puffy and enlarged. It has been three months now, and it did not get better yet. Because of this experience, I truly do not recommend New York Life. In my opinion, it is the insurance company's responsibility to select right medical examiners to contract with. They should have done their due diligence, which obviously they did not.
The Final Word
Those choosing between National Life Group and New York Life should be aware that Girard Sharp law firm has filed a class action lawsuit against National Life Group for alleged involvement in a pyramid scheme with Premier Financial Group. Premier Financial Group sold universal life insurance policies issued by National Life Group.
Aside from the lawsuit, National Life Group and New York Life are very similar when it comes to life insurance. Both companies have received high financial strength ratings from well-known ratings agencies. New York Life is more transparent about the dates of these rankings on its site, which allows those considering making a purchase to gauge the recency of New York Life’s financial stability and strength.
The companies also offer similar types of life insurance policies: term, whole, universal, and variable universal life insurance. It’s unclear from National Life Group’s site whether there are policy options within each category. In contrast, New York Life offers a few policy structure options within each category except variable life insurance.
For example, New York Life offers value whole life, whole life, and custom whole life. Each policy type is designed to meet the needs of different individuals. The value whole life is ideal for people close to retirement. The whole life policy includes both cash value accumulation and a death benefit. The custom whole life policy allows policyholders to set their payment schedule and build cash value.
New York Life also makes it clear which riders are available with each kind of insurance policy. The level of detail on New York Life’s website makes it easy for potential clients to determine whether or not New York Life has a policy to meet their needs.
National Life Group does not incorporate the same level of detail on its website. This makes it difficult to research available policies before contacting a representative.
If you’re choosing between New York Life and National Life Group, we recommend working with New York Life because of its proven reliability and transparency on its website.
