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New York Life vs MetLife: Life Insurance Comparison

An in-depth comparison to help you choose the right life insurance carrier.

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At a Glance

Feature New York Life MetLife
Financial Strength A++ (AM Best) A+ (AM Best)
Best Product Whole Life Term Life
Dividends Excellent N/A (stock company)
Individual Focus Strong Moderate
Group Plans Available Industry leader
Term Rates Above average Very competitive
Coverage Range $25,000 - $65,000,000 $25,000 - $10,000,000
Premium Range $25 - $1,500/mo $15 - $800/mo

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New York Life Overview

AM Best Rating: A++ | Founded: 1845 | Headquarters: New York, NY

Coverage: $25,000 - $65,000,000 | Premiums: $25 - $1,500/mo

Pros

  • Top AM Best rating
  • Excellent dividend track record
  • Broad product lineup
  • Strong financial stability

Cons

  • Requires agent
  • Higher whole life premiums
  • No direct online purchasing

Best For: Those wanting premium whole life insurance from a top-rated mutual company.

MetLife Overview

AM Best Rating: A+ | Founded: 1868 | Headquarters: New York, NY

Coverage: $25,000 - $10,000,000 | Premiums: $15 - $800/mo

Pros

  • Global presence
  • Group life insurance leader
  • Competitive term rates
  • Diverse product offerings

Cons

  • Shifted focus to institutional
  • Limited individual agent network
  • Less focus on permanent life

Best For: Those who want competitive term coverage, especially through employer groups.

Our Verdict

New York Life is superior for permanent life insurance and whole life policies. MetLife is better for affordable term life insurance, especially through employer-sponsored group plans.

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Compare rates from top-rated life insurance carriers.

No medical exam required Coverage in as little as 24 hours Rates from $20/month