Finder may earn compensation from partners, but editorial opinions are our own. Advertiser Disclosure
New York Life vs. Brighthouse Financial life insurance
Find out how one of America’s oldest insurers compares to a newly independent company.
In the life insurance arena, New York Life and Brighthouse Financial are heavyweights that are worth hundreds of billions of dollars. New York Life has been helping Americans to protect their families since 1845, while Brighthouse Financial broke away from MetLife to become an independent provider in 2017.
Find out how they stack up in terms of their products and reputation.
Life insurance products with New York Life and Brighthouse Financial
Both insurers offer term life insurance. When it comes to permanent policies, New York Life covers all bases, while Brighthouse Financial focuses on universal life insurance. It also sells a unique hybrid policy made up of universal life and long-term care.
Neither New York Life or Brighthouse Financial disclose rates on their sites.
Each insurer offers a range of riders that can help you to customize your coverage. Some riders only apply to certain states, so double-check those details with your chosen carrier.
|Accelerated death benefit|
|Disability waiver of premium|
|Chronic and terminal care|
|Automatic benefit increase|
Life insurance is an investment in your family — so you want to make sure the company has the resources to pay out claims. That’s where financial strength ratings come into play.
New York Life boasts near-perfect ratings from the four major agencies, and a high rating with J.D. Power, which assesses overall customer satisfaction. Brighthouse Financial also achieved excellent ratings, which means both providers are financially sound choices. However, with J.D. Power, Brighthouse ranked 17 out of 23 insurers, so there’s room for improvement.
|A.M. Best||A++ (Superior)||A (Excellent)|
|Moody’s||Aaa (Prime)||A3 (Upper Medium)|
|Standard & Poor’s||AA+ (High Grade)||A+ (Strong)|
|Fitch||AAA (Prime)||A (Strong)|
|JD Power||4 out of 5 stars||2 out of 5|
Ratings agencies assess the financial resources of a company, while forums like the Better Business Bureau (BBB) and TrustPilot focus on the customer experience.
New York Life isn’t accredited with the BBB, but it has earned an A+ rating for its customer service and interaction. The BBB has recorded 74 complaints over the last three years, with many policyholders commenting on the lengthy or frustrating claims process. Customers award New York Life 3 out of 5 stars, which is relatively high for an insurance company.
Brighthouse Financial also isn’t accredited with the BBB, and its rating was recently upgraded to A+. Customers filed 42 complaints over the last four years, and most complaints centered on the confusing transition process in the first few years of breaking apart from MetLife.
When you’re tossing up between these two carries, think about what’s most important to you. Both are financially strong and reputable, but they differ in terms of product lineups. New York Life caters to a larger audience by offering all major types of life insurance, while Brighthouse Financial has a more niched approach.
However, to make the most informed decision possible, it’s worth it to consider comparing life insurance companies.
Compare life insurance companies
More guides on Finder
Dayforward life insurance review
Dayforward’s innovative income-replacement life insurance product appeals to many parents seeking simple life insurance solutions.
Lemonade life insurance review
This fintech just branched out into low-cost life insurance — but its lineup is limited.
Combined life insurance review October 2021
Find unusually low face values for a whole life policy, ideal for supplemental insurance.
Life insurance as a freelancer
As a freelancer you may have unpredictable cashflow, but you can still find income protection with term life insurance.
Survivor benefit plans vs. life insurance
Survivor benefit plans pay out a monthly benefit to your surviving spouse or dependents — you won’t be able to designate any other beneficiary.
2020 shakes up the car insurance industry in a good way
A company you’ve never heard of just made it to the top for customer satisfaction. Here’s who did what to better serve their customers.
How to combine life and disability insurance
Ensure your loved ones’ financial future is protected with both life and disability insurance.
How to get life insurance if you’re unemployed
Unemployment doesn’t equal a life insurance denial — but your insurer will look at the details surrounding your unemployment.
Life insurance for teachers
Find out if you have enough life insurance before returning to the classroom.
Annuity vs. life insurance
An annuity and life insurance policy can work together to offer coverage throughout your life.
Ask an Expert