Term Life Insurance New York by Top Rated Companies

Term Life Insurance by Top Rated Companies More term companies equals the best opportunity to obtain the lowest term quote! Offering the Largest Selection of Top-Rated Companies Instantly!  Why is this important? Personalized Tele-Application for All Companies, Right Over the Phone!  For the serious shopper who would like a seasoned professional to assist them- "how term life insurance works", "return of premium term life insurance", "no exam term life insurance" and "what is term life insurance" will be explained on this page.

Term Life Insurance New York

  Term life insurance in New York offers solutions for family and business needs.  New York residence can save from 50 to 70 percent on term life insurance from most top rated companies. These companies must file their product offerings and be approved by the New York Insurance Department prior to any sales.  Proper reserves must be maintained by the insurance company, and these reserves are in constant review. The company also pays a premium tax to the state of New York which supports the department and guarantees claims payment to the insured. The department's website can be located at New York

How Your Insurance Policies Are Protected In New York

To protect the insured, a guaranty association, which is a statutory entity created by
the state, is established by state legislation. The guaranty association is composed of all insurers licensed to sell life insurance, accident and health insurance, and individual annuities in the state. In the event that a member insurer is found to be insolvent and is placed under a final order of liquidation, rehabilitation or conservation by a court of competent jurisdiction, the guaranty association will provide protection up to statutory limits (set out in the State Act) to insured beings who are state residents and who are holders of life and health insurance policies and individual annuities with the insolvent insurer.

When a member insurer is found to be insolvent and is ordered liquidated, a court
appointed receiver takes over the insurer under court supervision and processes the
assets and liabilities through liquidation. Typically, the guaranty association works with other effected guaranty associations in other states and the court appointed receiver in servicing the insurance company's policies and providing coverage to resident policyholders. The protection provided by the guaranty association is based on limits set forth in the law and the language of the insolvent company's policies at the time of insolvency.

Please remember that this information is general in purpose and should not be used
or relied upon as legal advice.    Life Insurance Needs Analysis