Compare MassMutual vs. New York Life Life Insurance

What’s the difference between MassMutual Life Insurance and New York Life Insurance? See how our editors compare the two companies below.
Last Updated: June 05, 2018
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MassMutual Life Insurance
9.4 / 10 - Excellent
no_rank
New York Life Insurance
8.9 / 10 - Excellent
#7 in Life Insurance
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Key Facts

  • Help Cover Your Final Expenses
  • Guaranteed Acceptance Whole Life
  • MassMutual Life - Ages 50-75
  • $10.00/Month.  Easy Application
  • Quick Application - No Medical Exam
  • Apply Online or Speak with an Agent
  • Simplified Term Life Insurance up to $150,000 for ages 35-64 
  • No medical exam or lab work - just health information.
  • $10,000 up to $150,000 in affordable coverage.
  • Get a free quote & apply online or by mail in minutes.

OVERALL RATINGS

 MassMutualNew York Life
Financial Strength10/1010/10
Customer Experience9/109/10
Policies10/108/10
Flexibility9/108/10

Financial Strength

Key Details

 MassMutualNew York Life
Underwriter
Massachusetts Mutual Life Insurance Company
New York Life Insurance Company
Marketshare 2016
4.11%
4.11%
Premiums Written 2016
$4,901,677,526
$4,902,529,968
Standard & Poor's Financial Rating
AA+
AA+
Moody's Financial Rating
Aa2
Aaa
AM Best Financial Rating
A++
A++
*The above information reflects the financial strength of the underwriter of the MassMutual life insurance policies: Massachusetts Mutual Life Insurance Company.
*The above information reflects the financial strength of the underwriter of the New York Life life insurance policies: New York Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

 MassMutualNew York Life
NAIC Complaint Ratio 2016
0.04
0.16
NAIC Total Complaints 2016
14
53
*The NAIC complaint ratio (in this case 0.04) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.
*The NAIC complaint ratio (in this case 0.16) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

 MassMutualNew York Life
BBB Rating
A+
C
Number of BBB Negative Reviews
1
Date Collected
2017-07-31
2017-09-01

Policy Differences

MassMutual offers customers the following life insurance policies: Term, Whole Life, Universal Life, Variable Universal Life, Guaranteed Acceptance/ Final Expense. Because we feel that Term Life insurance is a superior choice for most customers, we've focused our review on the MassMutual Term Life policy.
New York Life offers customers the following life insurance policies: Term, Whole Life, Universal Life, Variable Universal Life, Survivorship Life. Because we feel that Term Life insurance is a superior choice for most customers, we've focused our review on the New York Life Term Life policy.

Term Life Insurance

 MassMutualNew York Life
Available Terms
10 year
15 year
20 year
10 year
15 year
20 year

Key Term Policy Features

MassMutual
vs
New York Life
  • Term-Permanent Conversions
  • Guaranteed Level Premiums
  • Term-Permanent Conversions
  • Guaranteed Level Premiums
  • Guaranteed Renewability
  • Waiver of Premium
  • Accelerated Death Benefit

Flexibility & Available Riders

Available Riders

MassMutual
vs
New York Life
  • Disability Income Rider
  • Critical Illness Rider
  • Disability Income Rider
  • Child Protection Rider
  • Spouse Protection Rider
  • Long-Term Care Rider
  • Accidental Death Benefit

Additional Company Information

 MassMutualNew York Life
Homepage URL
Company Phone
(413) 788-8411
(212) 576-7000
Headquarters Address
1295 State Street, Springfield, MA, 01111
51 Madison Avenue, New York, NY, 10010
Year Founded
1851
1845

Final Verdict

MassMutual Life Insurance has a higher overall rating than New York Life Insurance. MassMutual scores better than New York Life across: Policies, Flexibility, and Help and Support. However, New York Life scores better on Financial Strength, and Online Presence. Both companies score similarly on Customer Experience.


Customer Comments & Reviews

C
Carlo
Patchogue, New York
2/5/2018
New York Life Insurance review
There's something to be said for a company that's been around for 173 years. You're comparing apples to oranges. No other company even comes close.