Trusted Guidance and Protection | New York Life Insurance (2024)

FAQs

What is the dividend payout for New York Life in 2024? ›

Record $2.2 billion dividend payout in 2024

New York Life declared a record dividend of $2.2 billion to eligible participating policy owners in 2024, the largest in company history. Paying a dividend² for a 170th consecutive year highlights New York Life's ability to deliver ongoing value to policy owners.

*New York Life and its subsidiaries provide insurance, investment, and retirement solutions that help people at all stages of life achieve financial security, delivered through financial specialists nationwide.

The average cost for a million-dollar life insurance policy is anywhere from approximately $50 to more than $1,000 a month, depending on your age, health, annual income, policy type and other factors.

Employee Progress-Sharing Investment Plan, alleged the company and its 401(k) plan executives violated the Employee Retirement Income Security Act of 1974 by filling the plans with proprietary investment products that provided "windfall profits" to New York Life and its affiliates at the expense of participants.

New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four major credit agencies A.M. Best (A++), Fitch Ratings (AAA), Moody's Investors Service (Aaa) and Standard & Poor's (AA+).

You can count on us in good times and bad

In fact, we continue to receive the highest ratings for financial strength currently awarded to any U.S. life insurer from all four of the major credit rating agencies.

As long as you continue to pay your premiums, you'll be covered for life and your loved ones are guaranteed to receive a payout in the future (also known as a death benefit). Whole life insurance also builds cash value that you can use during your lifetime if and when your needs for protection change.

Typically, this is done quarterly, but it can be done monthly or yearly as well. Dividends can be paid out as cash or issued as additional shares.

Taxable dividend income above the dividend allowance and falling within the higher-rate band is taxed at the dividend upper rate. Taxable dividend income above the dividend allowance and falling above the higher-rate band is taxed at the dividend additional rate.

At the heart of New York Life is a commitment to be there for our customers when they need us—whether today or decades into the future. Since 1845, we have delivered on that promise by investing wisely, managing finances strategically, and remaining true to our mission as a mutual company.

How many agents does nyl have? ›

New York Life believes strongly in the power of human guidance which is delivered in communities across the U.S. by New York Life's industry leading, best-trained, and highest- achieving agent force8 of approximately 12,000 agents and advisors.

If you have many dependents, whole life insurance may be a better route. However, if financial planning and cash value are most important to you, universal life insurance may be a strong option. Lastly, if you are a business owner, group life insurance might be the best life insurance option.