National Life Group vs New York Life

Kaitlyn Short
Kaitlyn Short | Senior Editor

National Life Group and New York Life both have long company histories and high financial strength ratings. These characteristics show that both companies are reliable. However, New York Life is more forthcoming with details on policy options and available riders on its website. Potential National Life Group clients should know that it's dealing with a class action lawsuit for alleged involvement in a pyramid scheme.

National Life Group logo verified_user
#12 National Life Group
6.0 Overall Score
2.7
star star star_half star_border star_border
(47)
New York Life logo
#8 New York Life
7.0 Overall Score
4.5
star star star star star_half
(32)

Overview

National Life Group

A.M. Best Financial Strength Rating

N/A

Policy Types

N/A

Type of Underwriting Offered

N/A

Purchase Process

N/A

Time in Business

Undisclosed

New York Life

N/A

N/A

N/A

N/A

Undisclosed

Ratings

National Life Group

Overall Score
6.0 of 10
Review Score
2.7
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Value for Money
3.0
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Quality of Product or Service
2.8
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Company Trustworthiness
2.8
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Likely to Recommend
4.3 of 10

New York Life

7.0 of 10
4.5
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4.4
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4.4
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4.4
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8.4 of 10

Reviews

National Life Group

Number of Reviews
47
Review Breakdown
2.7
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5 star
40%
4 star
0%
3 star
0%
2 star
2%
1 star
57%

New York Life

32
4.5
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5 star
63%
4 star
28%
3 star
6%
2 star
0%
1 star
3%

Reviews for National Life Group

Helpful Favorable Review

star star star star star

Benita Valle

June 1st, 2022

DETAILS

So far NLG is the best company with the best products for the right clients in USA. My husband, my younger sister and my colleague in nursing are all living testimony of the Living Benefits. They all received TAX- FREE money from the company when they got diagnosed of cancer of different organs. The money received to take care of their financial obligations while recovering is the best financial blessing in their lifetime! The monetary benefit mitigated the stress one suffers from when critically ill. It was divinely therapeutic. We thank God for National Life Group!

Helpful Critical Review

star star_border star_border star_border star_border

Chefsteevo23

July 20th, 2022

DETAILS

If you want to sit on hold forever and listen to the same piano song because nobody answers the phone and there is no other contact to customer service, then this is the company for you. All I am trying to do is make a payment and it is this complicated, I can't even imagine how hard it would be if I actually needed something for my policy. I would like to thank national life group for wasting my time though, 3 days of sitting on hold and nobody answering is not acceptable, I will gladly take my business elsewhere

Reviews for New York Life

Helpful Favorable Review

star star star star star

Julia UP

August 17th, 2021

DETAILS

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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

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KATE

July 8th, 2020

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.

Top Choice

New York Life Logo
New York Life

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