New York Life Insurance Company has held the highest financial strength ratings from every major rating agency for over 75 consecutive years. With a Comdex score of 100 out of 100 and more than $700 billion in assets under management, it’s the largest mutual life insurer in the United States, and one of the most trusted names in retirement income planning.
This review covers New York Life’s financial ratings, annuity product lineup, and how to get started.
New York Life at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | New York Life Insurance Company |
| Headquarters | New York, New York |
| Founded | 1845 |
| Company Structure | Mutual company (owned by policyholders) |
| AM Best Rating | A++ (Superior), highest possible |
| S&P Rating | AA+ (Very Strong) |
| Moody’s Rating | Aaa (Exceptional) |
| Comdex Score | 100 out of 100 |
| Total Assets Under Management | $700+ billion |
| Products Offered | Fixed Annuities (MYGAs), Income Annuities (SPIAs/DIAs), FIAs |
| States Available | All 50 states + D.C. |
| Minimum Premium | $10,000 (varies by product) |
New York Life’s Financial Strength
New York Life holds the highest rating from every major agency simultaneously, AM Best A++, S&P AA+, Moody’s Aaa, a distinction few carriers can claim. Its Comdex composite score of 100 is the maximum achievable. The company has paid dividends to eligible policyholders every year since 1854.
As a mutual insurer, New York Life has no obligation to outside shareholders. Profits stay within the company, reinforcing long-term financial stability. This structure has allowed the company to weather every economic cycle since the Civil War era without a ratings downgrade.
Consider Robert, age 67, moving $300,000 from a brokerage account into an annuity. For a client of this size with a long time horizon, New York Life’s unmatched ratings and 179-year history make it a natural conversation starter.
What Types of Annuities Does New York Life Offer?
- Multi-Year Guaranteed Annuities (MYGAs), New York Life’s Secure Term series offers fixed rates for 3, 5, and 7-year terms. Distributed through agents, not direct-to-consumer.
- Single Premium Immediate Annuities (SPIAs), New York Life’s Lifetime Income annuity converts a lump sum into guaranteed monthly income that cannot be outlived. One of the most competitive SPIA payouts in the market.
- Fixed Index Annuities (FIAs), Growth linked to market indexes with principal protection. Optional income riders available for guaranteed lifetime withdrawals.
New York Life also offers Deferred Income Annuities (DIAs), sometimes called “longevity insurance”, which allow you to lock in today’s rates for guaranteed income that begins at a future age, such as 80 or 85.
New York Life MYGA Products
New York Life’s Secure Term series provides guaranteed fixed rates for multi-year terms. Products are sold exclusively through New York Life agents, not through online platforms or direct purchase. Rates are competitive but are not published in public rate tables like the AnnuityRateWatch database.
For a current rate quote on a New York Life fixed annuity, contact My Annuity Store and we can facilitate an introduction through our network. Download the Secure Term product brochure (PDF)
New York Life Income Annuity Products
Guaranteed Lifetime Income Annuity (SPIA)
Converts a lump-sum premium into guaranteed monthly income that begins within 13 months. Income can be structured for life only, life with a period certain, or joint life. New York Life’s SPIA payouts are among the highest in the industry due to its superior claims-paying ability and investment returns.
Guaranteed Future Income Annuity (DIA)
A deferred income annuity for clients who want to lock in future income now. You fund it today and income begins at a future date, for example, at age 75, 80, or 85. Provides protection against outliving your savings during the later stages of retirement.
Who Is New York Life Best For?
- Rating-first buyers who want the absolute gold standard in carrier financial strength. No carrier has better ratings than New York Life.
- Income annuity buyers who want the highest possible guaranteed monthly payment from a SPIA. New York Life’s scale and investment performance typically produce top-tier payouts.
- Long-horizon accumulators using a DIA to create longevity insurance beginning at age 80 or beyond.
- Clients who prefer working with a captive agent rather than an independent platform.
Note: New York Life products are sold through captive agents, not independent brokers. My Annuity Store can facilitate introductions and provide comparison data, but final purchase is through a New York Life agent. For independent comparisons across 20+ carriers, request a free quote.
How Does New York Life Compare to Other Carriers?
The annuity marketplace in 2026 is competitive, with dozens of carriers vying for your business. Before committing to any single carrier, it pays to compare at least three to five options side by side. Key factors to evaluate include:
- AM Best financial strength rating – look for A- or higher for maximum peace of mind
- Guaranteed interest rate and term – even a 0.10% difference compounds significantly over a 5- to 10-year contract
- Surrender charge schedule – understand when you can access your money penalty-free
- Free withdrawal provisions – most carriers allow 10% annual withdrawals without penalty
- Cap rates and participation rates – these determine your upside potential in a fixed index annuity
Our live rate comparison tool shows current rates from New York Life and all competing carriers updated daily. You can also request a personalized comparison from our team.
Contact New York Life
| Contact Method | Details |
|---|---|
| Website | www.newyorklife.com |
| Customer Service | 1-800-695-4331 |
| Mailing Address | New York Life Insurance Company 51 Madison Avenue New York, NY 10010 |
| Hours | Monday–Friday, 8 a.m.–6 p.m. ET |
Compare New York Life vs. Other Carriers: My Annuity Store is an independent platform. We can show you how New York Life stacks up against Athene, MassMutual, and other top carriers. Get a free comparison or call 855-583-1104.
