Best Life Insurance Companies in New York (2025)


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Key Takeaways

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Protective Insurance offers the best life insurance in New York. Lincoln Financial provides the cheapest life insurance in New York based on average quotes MoneyGeek collected from major insurers.

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The best life insurance companies in New York vary based on individual needs. Guardian Life ranks highest for customer experience, while Prudential stands out for coverage options.

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The type of life insurance policy influences your best choice: North American for whole and universal life, Gerber Life for guaranteed acceptance and Legal & General for term.

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To get the best life insurance in New York, we recommend deciding on coverage beforehand, researching costs and companies, and comparing multiple providers.

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In addition to national insurers, regional or state-focused life insurance companies in New York can also provide competitive rates and personalized service.

What Is the Best Life Insurance in New York?

Based on MoneyGeek's analysis. Protective Insurance offers the best life insurance in New York and nationwide, earning a MoneyGeek score of 4.7 out of 5 for customer service, affordability and coverage options. While this is the best company overall, your top choice ultimately depends on your specific needs and priorities. Other MoneyGeek recommendations include Guardian Life, Lincoln Financial and Prudential.

Overall
Protective Insurance
4.7
$44 (men)
$36 (women)
$532 (men)
$443 (women)
Customer Experience
Guardian Life
4.6
$51 (men)
$40 (women)
$612 (men)
$480 (women)
Affordability
Lincoln Financial
4.5
$35 (men)
$30 (women)
$417 (men)
$359 (women)
Coverage Options
Prudential
4.1
$61 (men)
$48 (women)
$735 (men)
$578 (women)

Rates reflect average quotes for 40-year-old nonsmokers buying a 20-year term policy with $500,000 in coverage. These costs are based on MoneyGeek’s analysis and serve as general estimates. Actual premiums depend on personal factors such as age, health, lifestyle and insurer underwriting criteria. To get an accurate rate, request personalized quotes directly from insurers.

Best Overall: Protective

Company Image

Protective

MoneyGeek Rating
4.7/ 5
4.8/5Affordability
4.6/5Customer Experience
4.3/5Coverage Options
  • Average Monthly Cost

    $44 (men); $36 (women)
  • Average Annual Cost

    $532 (men); $443 (women)

Best Customer Experience: Guardian Life

Company Image

Guardian Life

MoneyGeek Rating
4.6/ 5
4.6/5Affordability
4.9/5Customer Experience
4/5Coverage Options
  • Average Monthly Cost

    $51 (men); $40 (women)
  • Average Annual Cost

    $612 (men); $480 (women)

Best for Affordability: Lincoln Financial

Company Image

Lincoln Financial

MoneyGeek Rating
4.5/ 5
5/5Affordability
3.6/5Customer Experience
4.5/5Coverage Options
  • Average Monthly Cost

    $35 (men); $30 (women)
  • Average Annual Cost

    $417 (men); $359 (women)

Best Coverage Options: Prudential

Company Image

Prudential

MoneyGeek Rating
4.1/ 5
4.2/5Affordability
3.4/5Customer Experience
4.8/5Coverage Options
  • Average Monthly Cost

    $61 (men); $48 (women)
  • Average Annual Cost

    $735 (men); $578 (women)

Best Life Insurance in New York by Policy Type

While we've identified the top life insurance company for most, your ideal match might differ based on the type of life insurance that you buy. Below, we've broken down the best options for various policy types to help you find the right fit.

Whole and Universal
North American
5
Whole:
$691 (men)
$602 (women)

Universal:
$295 (men)
$251 (women)
Whole:
$8,287 (men)
$7,221 (women)

Universal:
$3,535 (men)
$3,016 (women)
Term
Legal & General
4.7
$44 (men)
$35 (women)
$523 (men)
$415 (women)
Guaranteed Acceptance
Gerber Life
4.7
$44 (men)
$44 (women)
$531 (men)
$529 (women)

These rates are estimates based on MoneyGeek's analysis and may not reflect your actual premium. Individual rates vary based on health, lifestyle, and other underwriting factors. Contact insurers directly for personalized quotes.

Best Whole and Universal: North American

Company Image

North American

MoneyGeek Rating
5/ 5
5/5Affordability
5/5Customer Experience
5/5Coverage Options
  • Average Monthly Cost

    Whole: $691 (men); $602 (women) Universal: $295 (men); $251 (women)
  • Average Annual Cost

    Whole: $8,287 (men); $7,221 (women) Universal: $3,535 (men); $3,016 (women)

Best Term: Legal & General

Company Image

Legal & General

MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.7/5Customer Experience
4.7/5Coverage Options
  • Average Monthly Cost

    $44 (men); $35 (women)
  • Average Annual Cost

    $523 (men); $415 (women)

Best Guaranteed Acceptance: Gerber Life

Company Image

Gerber

MoneyGeek Rating
4.7/ 5
4.4/5Affordability
5/5Customer Experience
4.9/5Coverage Options
  • Average Monthly Cost

    $44 (men); $44 (women)
  • Average Annual Cost

    $531 (men); $529 (women)

Compare Personalized Best New York Life Insurance Picks

To help you find the top life insurance companies in New York, we've added a filterable table below, making it easy to see recommendations that fit your profile perfectly.

Data filtered by:Results filtered by:
Select
Age:40
Select
Gender:Male
Select
Term:20 years
Select
Coverage Level:$500,000
Lincoln Financial$38$452
North American$43$517
Midland National$43$517
Protective Insurance$44$532
Transamerica$46$551
CoreBridge$47$560
Principal National$47$564
Legal & General$47$566
Pacific Life$47$566
SBLI$48$579
Cincinnati Life$49$593
Guardian Life$51$612
Equitable Life$52$626
Columbus Life$53$632
Securian$53$634
Gerber Life (Fabric)$53$638
Assurity$55$663
AAA$56$671
Nationwide$56$677
Fidelity Life$59$705
Life Insurance Co of The South West$59$708
National Life Group$59$708
Ameritas$59$708
John Hancock$59$713
Prudential$61$735
Foresters Financial$62$740
Royal Neighbors of America$108$1,300

Rates in this table are based on a term life insurance policy for nonsmokers with average weight and health ratings. Individual costs will vary based on policy type and your profile.

How to Find the Best Life Insurance in New York

Here's a breakdown of essential tips to help you secure the ideal life insurance policy in New York

  1. 1

    Decide coverage beforehand

    Finding out how much life insurance coverage you need is important before purchasing. This ensures you can compare prices fairly and avoid being oversold by agents.

  2. 2

    Research costs for your profile

    Check average life insurance costs based on your coverage level and personal profile. This helps determine if you're getting a fair deal. Your location usually doesn’t impact life insurance rates, so focus more on personal factors.

  3. 3

    Compare company reputations

    While life insurance rates typically don’t change by state, a company's reputation can vary. Use resources like J.D. Power, online forums and independent agents to compare life insurance companies in New York.

  4. 4

    Compare quotes through multiple avenues

    Compare quotes to secure the best value. Pricing can differ depending on where you acquire quotes, whether from an independent agent, an online source, or a captive provider agent.

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CALCULATING YOUR COVERAGE NEEDS

How much life insurance do you need in New York? Use the DIME method to calculate your needs: Debt + Income replacement + Mortgage + Education costs. A quick rule of thumb suggests 10-12 times your annual income, but New York's higher cost of living may require additional coverage for expenses like childcare and housing.

New York Life Insurance Laws and Regulations

Life insurance in New York comes with specific legal protections that work in your favor. Knowing these regulations helps you make better decisions and know your rights as a policyholder.

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    Free Look / Right to Return

    Under New York regulations, insured individuals receive a “free-look” period of 10 to 30 days from policy delivery to cancel and obtain a full premium refund. The policy must include a “free-look” notice on the cover page.

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    Grace Period for Premium Payments

    For scheduled premium policies (such as most term or whole life policies), life insurance companies in New York must provide a 31-day or one-month grace period after the premium due date.

    For flexible premium policies, where the amount or frequency of premiums can vary (such as universal or variable universal life insurance), the law requires a 61-day grace period.

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    Death Benefit Interest Requirement

    If payment of a death benefit is delayed, New York’s Insurance Law requires interest to accrue daily from the date of death to the date of claim, at the rate currently paid by the insurer for proceeds left under the interest settlement option.

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    Life Insurance Guaranty Protection (LICGC)

    The Life Insurance Guaranty Corporation of New York (LICGC) protects policyholders if an insurer becomes insolvent. The guaranty covers up to $500,000 aggregate for life, annuity, and accident & health claims in most non-employer contracts.

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    Insurer’s Claims Investigation Conduct

    The Department of Financial Services has issued a Circular Letter emphasizing that life insurance companies in New York must not withhold claim payments during the contestability period in the absence of actual misrepresentation.

Best Life Insurance in New York: Bottom Line

Protective Insurance, Lincoln Financial, Guardian Life, Prudential, North American, Gerber Life, and Legal & General are the best life insurance companies in New York, according to MoneyGeek's analysis. While these are our recommendations, we encourage you to assess your coverage needs and compare quotes.

New York Life Insurance: FAQ

Below are expert answers to common questions about life insurance for residents of New York.

What is the best life insurance in New York?

How do you get the best life insurance in New York?

Do life insurance rates differ by state?

How does New York's free look period work?

Do I need a medical exam for life insurance in New York?

How We Decided the Best Life Insurance in New York

Finding the right life insurance in New York shouldn't feel overwhelming, especially when you're protecting your family's financial future in one of the most expensive states. We designed our research specifically for New York residents, focusing on companies that operate in the state and offer competitive rates despite the higher cost of living.

Our Scoring Framework

We evaluated life insurance companies in New York using a three-category system, with each company earning up to five points per category.

  • Our affordability weighting of 55% reflects what matters most to New York families: getting adequate coverage without straining already tight budgets.
  • Customer experience accounts for 30% because dealing with claims shouldn't add stress during difficult times.
  • Coverage options represent 15% since most families need straightforward term life protection.

What We Measured

Our analysis incorporated real data from multiple sources:

  • Cost comparisons through direct online quotes from each insurer
  • Financial stability using AM Best ratings and years in business
  • Customer satisfaction from NAIC complaint data and J.D. Power studies
  • User experience including online tools and payment flexibility
  • Product variety across term and permanent life insurance options

Our Sample New York Customer

We used a 40-year-old nonsmoker with average health as our baseline, representing the demographic most actively shopping for family protection. We then adjusted for different ages, health ratings, tobacco use, and coverage amounts to capture how rates vary across New York's diverse population.

This approach gives you apples-to-apples comparisons based on what actually drives your life insurance costs in New York.

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark earned a master's degree in Economics and International Relations from Johns Hopkins University and a bachelor's degree from Boston College. He is passionate about using his economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.


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