Background On MetLife And New York Life

New York Life (NYL) is actually the largest mutual life insurance company in the U.S., as well as one of the largest in the world. Founded in 1845, NYL has top ratings from ratings company A.M. Best. NYL is not the most competitive company when it comes to rates, but it isn’t the most expensive either.


MetLife Insurance vs. NY Life InsuranceLikewise, MetLife was launched in 1868 and is actually bigger than NYL. In fact, it is one of the largest global insurance providers in existence today. They also have earned top ratings with A.M. Best, so you shouldn’t worry about them going bankrupt anytime in the near future…or ever! Met has won numerous awards for its various insurance options and customer service.


Overall, MetLife is actually a fairly competitive insurance provider when it comes to rates for insurance.


Fortune magazine named MetLife: The Number One World’s Most Admired life insurance carrier. Some of what Fortune measured included innovation, quality of products, services, and social responsibility.

What Is The Difference, You Ask

Whole life insurance, also known as “permanent” insurance, is essentially coverage from the time your policy starts to the day you die. On the other hand, term insurance is coverage that lasts for a specific period of time, usually anywhere from 10 to 30 years.


new york life vs metlife
Term is the cheaper option of the two, and in many cases it can be converted to permanent coverage like UL insurance. Getting a cheap term insurance policy is great, but most people’s needs for coverage (usually in the form of dependent children) are gone by the time the term is up. Term insurance is more economical and just makes more sense for most people.