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What Insurance is more reliable for Life Insurance New York Life with AARP or Colonial Penn.?

Does anyone know which of these Life Insurance programs is more reliable. New York Life with AARP or Colonial Penn? Does anyone have the statistics or know what website to go to?

Public Comments

1. New York Life and Colonial Penn are both reliable companies.
2. Until a late 70's expose on Colonial Penn came out on "60 Minutes", they had a very cozy relationship with AARP - the AARP membership list was kept under lock & key there - they are no longer associated with Colonial Penn, however. I don't know if Colonial Penn is licensed to do business in New York but in general any life insurance policy should be the same as a policy by the same carrier that is sold in New York; that's because that state has a very stringent insurance department. Sorry I don't have the stats, but possibly the AARP plan would be cheaper since it's a group plan - but not always, so would check both firms. I would go online to your state's insurance department website and see if any of those carriers have any history of nightmarish complaints against them. Also, see if you can get their recent A.M. Best, Moody's or Standard & Poor's ratings - don't rely on just the Best's ratings since they are not the most stringent rating agency. The higher the rating the better - this is a rating on financial strength. Good luck!
3. According to AM Best, NY Life is rated A++ XV, and Colonial Penn is rated B+. There's no way I'd buy a life insurance policy with a company rated in the B's. If those are the only two you're looking at, go with NY Life. Or talk to another agent and get quotes with 20 more companies.
4. There are 150+ different companies. Why are you narrowing it to those two? Call a life insurance broker and have them help you find what you're looking for. They're free.
5. Go to American General Life and Accident(AGLA) they have the best policy and for a fair price. What state are you in, AGLA does not sell in NY and WY