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Prudential vs. New York Life
Compare prices and policy types from two financially strong providers.
New York Life and Prudential are life insurance providers with excellent ratings and strong industry reputations. But while New York Life’s policies are a bit more expensive, cost is only one part of the equation. Consider riders, policy offerings and customer sentiments when choosing a plan.
Life insurance products
Prudential and New York Life offer a similar product assortment. However, New York Life sells whole life insurance policies, while Prudential focuses on term policies.
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Costs
For an apples-to-apples comparison between Prudential and New York Life, you’ll want to get customized quotes from each provider. Here’s how:
- Prudential. You can get a quote for its Term Essential life insurance plan online. Otherwise, you’ll need to get in touch with an agent for a wider range of policy options.
- New York Life. Contact an agent to get a life insurance quote.
You should be able to get accurate estimates from Prudential and New York Life without signing any dotted lines.
Both Prudential and New York Life consider gender, age, general health and smoking habits when underwriting a policy. Higher benefit amounts tend to equal higher premiums overall, so you could ask for estimates relating to range of benefit amounts when requesting a quote.
Here’s a glimpse of Prudential’s average monthly rates, depending on your age and gender.
Nonsmokers: Policy amount $250,000
| Gender | Age |  Prudential |  New York Life |
|---|---|---|---|
| Male | 20 | ||
| Male | 30 | ||
| Male | 40 |
| Gender | Age | Prudential | New York Life |
|---|---|---|---|
| Female | 20 | ||
| Female | 30 | ||
| Female | 40 |
Smokers: Policy amount $250,000
| Gender | Age | Prudential | New York Life |
|---|---|---|---|
| Male | 20 | ||
| Male | 30 | ||
| Male | 40 |
| Gender | Age | Prudential | New York Life |
|---|---|---|---|
| Female | 20 | ||
| Female | 30 | ||
| Female | 40 |
Rates were provided by Quotacy is valid as of May 2018 – includes all states except New York and Montana.
Policy riders
Riders can adjust your overall benefit amount to offer additional protection for loved ones you leave behind. Here’s what Prudential and New York Life have to offer:
Comparisons based on data available July 2019
Financial strength
Insurance rating agencies like A.M. Best and Moody’s Investor Service score life insurance providers based on financial stability, customer satisfaction and overall operating performance.
Here’s how Prudential and New York Life stack up:
| Prudential | New York Life | Winner | |
|---|---|---|---|
| A.M. Best | A+ | A++ | New York Life |
| Moody’s | AA- | AAA | New York Life |
| Standard & Poor’s | Aa3 | AA+ | New York Life |
| Fitch | AA- | AAA | New York Life |
| JD Power | About average | New York Life | Tie |
Customer reviews
Numbers and ratings can predict general quality, but customer reviews indicate how well each company navigates consumer roadblocks. Online feedback about New York Life and Prudential includes:
| BBB Rating | Customer Reviews | Overall | |
|---|---|---|---|
| Prudential | D- | 1 out of 5 stars | The BBB records 69 complaints over the last three years — but Prudential has failed to respond to all of them in a timely manner. |
| New York Life | A+ | 2 out of 5 stars | There are 86 complaints, and New York life has addressed or resolved all of them. |
Bottom line
New York Life and Prudential are both dependable and respected companies, though customer experience and price differ between the two. If you’re not sure either sounds right, compare life insurance providers to find a better fit.
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