Best Life Insurance Companies In New York Of 2024

When shopping for life insurance in New York, you may notice there are quite a few companies that don’t sell policies in your state.

The life insurance industry is regulated at the state level, which means that insurers must determine if they can sell in a particular state and, if so, which products will be approved by the state to sell. This generally doesn’t cause problems for companies since most states have standardized laws and regulations for the life insurance industry. There is usually not much need for variation of product terms and conditions from state to state.

“However, New York stands out with unique regulations and consumer protection laws for the life insurance industry. As a result, life insurance companies have had to adapt themselves and their products to comply with New York regulations or to choose not to do business in New York,” says Daniel Adams, Forbes Advisor advisory board member.

Adams explains that companies have adapted by creating separate life insurance companies that offer products specifically designed for approval and sale in New York. As a result, New Yorkers will see different life insurance companies, products and premiums than residents of other states.