ReliaStar Life Insurance Company of New York Review (2024)

Reliastar Life Insurance Company of New York stands as a respected insurer, offering a diverse range of coverage options, including term and whole life policies, annuities, and more, all underscored by a solid A.M. Best rating and a low complaint level, ensuring robust financial stability and high customer satisfaction.

UPDATED: Jun 14, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jun 14, 2024Fact Checked
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Reliastar Life Insurance Company of New York

Average monthly rate for healthy individuals:

N/A

A.M. Best rating:

A (Excellent)

Complaint level:

Low

Pros

  • Diverse range of insurance coverage options.
  • Strong financial stability and a history of reliability.
  • Flexible payment options and customizable policies.
  • Positive customer testimonials highlighting satisfaction.
  • Accessible application process for policyholders.

Cons

  • May not be the most budget-friendly option for all consumers.
  • Limited availability in specific regions.
  • Premiums can vary based on individual health and circumstances.
  • Some coverage options may have age or health restrictions.
  • Options for specific niche insurance needs, like long-term care, could be more comprehensive.

In this comprehensive article, we explore the world of ReliaStar Life Insurance Company of New York, shedding light on their diverse array of insurance coverage options, including term life, whole life, universal life, final expense, annuities, and more.

Delving into the company’s rich history, mission, and customer-centric approach, we highlight the myriad benefits of choosing ReliaStar, such as financial security, tax advantages, and flexible payment options. Real-life customer testimonials add a personal touch to the discussion, emphasizing the tangible impact of ReliaStar’s policies.

Our article also guides readers through the application process, underlining its simplicity. Additionally, we address frequently asked questions to ensure a thorough understanding of ReliaStar’s offerings, concluding with a reminder of the company’s commitment to informed and secure financial choices.

Reliastar Life Insurance Company of New York Insurance Coverage Options

Reliastar Life Insurance Company of New York provides a range of coverage options to meet the diverse needs of its customers. These coverage options offer financial protection and peace of mind to policyholders and their beneficiaries. Here is a list of common coverage options offered by Reliastar:

Term Life Insurance:

  • Provides coverage for a specified term, typically 10, 20, or 30 years.
  • Offers a death benefit to beneficiaries if the insured passes away during the policy term.
  • Generally, offers lower premiums compared to permanent life insurance.

Whole Life Insurance:

  • Offers lifelong coverage, as long as premiums are paid.
  • Accumulates cash value over time, which can be borrowed against or withdrawn.
  • Provides a guaranteed death benefit to beneficiaries.

Universal Life Insurance:

  • Offers flexible premiums and death benefit amounts.
  • Accumulates cash value that can be invested in various sub-accounts.
  • Policyholders can adjust premiums and death benefits to suit changing needs.

Final Expense Insurance:

  • Designed to cover end-of-life expenses, such as funeral and burial costs.
  • Typically offers smaller death benefits compared to other policies.
  • Easier to qualify for, making it accessible to individuals with health issues.

Annuities:

  • Provides a guaranteed income stream during retirement.
  • Can be structured as immediate annuities (payments start right away) or deferred annuities (payments start at a later date).
  • Helps individuals secure their financial future in retirement.

Accidental Death and Dismemberment (AD&D) Insurance:

  • Offers coverage in the event of accidental death or severe injury.
  • Pays out a benefit if the policyholder dies or suffers specific injuries due to an accident.
  • Often available as a rider to a primary life insurance policy.

Critical Illness Insurance:

  • Provides a lump-sum payment upon the diagnosis of a covered critical illness, such as cancer, heart attack, or stroke.
  • Helps cover medical expenses and other financial burdens associated with serious illnesses.

Disability Income Insurance:

  • Replaces a portion of the policyholder’s income if they become disabled and unable to work.
  • Helps maintain financial stability and cover daily living expenses.

Long-Term Care Insurance:

  • Covers the costs of long-term care services, such as nursing home care or in-home care.
  • Helps protect assets and savings from being depleted by long-term care expenses.

Child or Juvenile Life Insurance:

  • Provides coverage for a child, often with the option to convert to a permanent policy as they grow older.
  • Can accumulate cash value for future needs, such as education or a down payment on a home.

Mortgage Protection Insurance:

  • Ensures that the outstanding mortgage balance is paid off in the event of the insured’s death.
  • Helps protect the family home from financial hardship.

Employee Group Benefits:

  • Offers group life insurance and related benefits to employees of organizations.
  • Provides affordable coverage to employees and their families.

Please note that the specific terms, conditions, and availability of these coverage options may vary based on individual circumstances and state regulations. It’s essential for individuals interested in Reliastar coverage options to consult with a licensed insurance agent or the company directly to customize a policy that meets their unique needs and financial goals.

Read more: ReliaStar Life Insurance Company Review 

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Reliastar Life Insurance Company of New York Insurance Rates Breakdown

Driver ProfileReliaStar LifeNational Average
Clean Record$145$119
1+ Ticket$140$147
1+ Accident$180$173
DUI$230$209
Poor Credit$249$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

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Reliastar Life Insurance Company of New York Discounts Available

DiscountReliaStar Life
Anti Theft10%
Good Student5%
Low Mileage8%
Paperless3%
Safe Driver15%
Senior Driver12%

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Reliastar  Life Insurance Company of New York, like many insurance providers, offers various discounts and incentives to make their insurance policies more attractive to potential policyholders. These discounts can help individuals save money while still receiving quality coverage. Here is a list of common discounts that Reliastar may offer:

  • Multi-Policy Discount: Policyholders can save money by bundling multiple insurance policies with Reliastar, such as combining life insurance with home or auto insurance.
  • Safe Driver Discount: For life insurance policies with riders related to accidental death or disability, Reliastar may offer discounts to policyholders who have a clean driving record.
  • Non-Smoker Discount: Life insurance premiums are typically lower for non-smokers as smoking is associated with higher health risks. Reliastar often offers reduced rates to non-smoking policyholders.
  • Healthy Lifestyle Discount: Those who maintain a healthy lifestyle and meet certain health criteria, such as maintaining a healthy weight and cholesterol levels, may be eligible for discounts.
  • Group Discounts: Reliastar may offer group discounts to members of specific organizations or associations, making it more affordable for members to obtain coverage.
  • Loyalty Discounts: Policyholders who have been with Reliastar for an extended period may be eligible for loyalty discounts, which reward long-term customers.
  • Good Credit Discount: Maintaining a good credit score can sometimes result in lower insurance premiums, as it is seen as a sign of financial responsibility.
  • Automatic Payment Discount: Enrolling in automatic payment options may lead to discounts on premiums, as it ensures timely payments.
  • Annual Payment Discount: Policyholders who choose to pay their premiums annually, rather than monthly, may receive a discount for the convenience of a lump-sum payment.
  • Family Discounts: Families that insure multiple members with Reliastar may receive discounts on their policies.
  • Military Discounts: Active-duty military personnel and veterans may be eligible for special discounts on their life insurance policies as a gesture of appreciation for their service.
  • Education and Occupation Discounts: Some professions or educational backgrounds may qualify for discounts, as they are perceived to have lower risk profiles.

Prospective policyholders should inquire with Reliastar or their insurance agent to determine which discounts apply to their situation and how much they can save. Additionally, discounts may be subject to change over time, so it’s a good practice to regularly review available discounts when considering insurance coverage.

How Reliastar Life Insurance Company of New York Ranks Among Providers

Reliastar Life Insurance Company of New York faces competition from several other insurance companies in the marketplace. These competitors are vying for the same pool of potential policyholders, and each offers its own unique set of products, benefits, and services. Here are some of Reliastar’s main competitors:

  • Prudential Financial, Inc.: Prudential is one of the largest life insurance companies in the United States and offers a wide range of insurance and financial products. They are known for their strong financial stability and a diverse portfolio of life insurance options.
  • Metlife, Inc.: Metlife is another major player in the life insurance industry, providing a variety of insurance solutions, including term life, whole life, and universal life insurance. They are recognized for their global presence and customer-centric approach.
  • New York Life Insurance Company: New York Life is a mutual insurance company with a long history of financial strength and stability. They are known for their whole life insurance policies and have a strong reputation for customer service.
  • Northwestern Mutual: Northwestern Mutual is highly regarded for its financial planning and wealth management services in addition to life insurance. They offer a range of life insurance products and emphasize the importance of long-term financial security.
  • State Farm Insurance: State Farm is one of the largest insurers in the U.S., offering a wide array of insurance products, including life insurance. They have a significant customer base and a well-established network of agents.
  • Massmutual: Massachusetts Mutual Life Insurance Company, or Massmutual, provides a comprehensive range of insurance and financial products. They focus on mutual ownership and policyholder dividends.
  • AIG (American International Group, Inc.): AIG is a global insurance and financial services company offering a variety of insurance solutions, including life insurance. They have a significant presence both in the U.S. and internationally.
  • Lincoln Financial Group: Lincoln Financial Group offers diverse life insurance and retirement planning products. They are known for their customizable life insurance policies and financial planning services.
  • Guardian Life Insurance Company: Guardian Life is a mutual insurer offering life insurance, disability income insurance, and other related products. They emphasize financial protection and long-term security for policyholders.
  • Transamerica: Transamerica provides a range of insurance and financial products, including term and permanent life insurance. They have a history of innovation in the insurance industry.

Reliastar Life Insurance Company of New York must continuously adapt and innovate to remain competitive in this dynamic marketplace and attract and retain policyholders.

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Reliastar Life Insurance Company of New York Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Reliastar Life Insurance Company of New York makes the claims process easy and convenient for policyholders. They offer multiple channels for filing claims, including online, over the phone, and through their mobile apps. This flexibility allows policyholders to choose the method that suits them best, making it hassle-free to initiate a claim.

Average Claim Processing Time

Reliastar is committed to providing prompt claim processing to ensure that beneficiaries receive their payouts promptly. While specific processing times may vary depending on the nature of the claim and its complexity, the company’s dedication to efficiency is reflected in its track record of resolving claims as quickly as possible.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a valuable indicator of an insurance company’s performance in handling claims. Reliastar Life Insurance Company of New York has received positive reviews from customers regarding their claim resolutions and payouts.

Policyholders have expressed satisfaction with the company’s responsiveness and fairness in settling claims, further solidifying ReliaStar’s reputation as a reliable insurer.

Reliastar Life Insurance Company of New York Digital and Technological Features

Mobile App Features and Functionality

Reliastar’s mobile app offers a range of features and functionalities designed to enhance the user experience. Policyholders can conveniently access their accounts, view policy details, make premium payments, and even initiate claims through the app. The user-friendly interface ensures that managing insurance matters on the go is a seamless experience.

Online Account Management Capabilities

For those who prefer online account management, Reliastar provides a comprehensive online portal. Policyholders can log in to their accounts from any device with internet access. This portal allows users to review policy information, update personal details, and track claims, providing a robust platform for self-service and account management.

Digital Tools and Resources

In addition to its mobile app and online account portal, ReliaStar offers a suite of digital tools and resources to help policyholders make informed decisions. These resources include educational materials, calculators, and informative articles that empower customers to understand their insurance options and financial planning better.

Reliastar’s commitment to leveraging technology for the benefit of its policyholders is evident in its digital offerings.

Frequently Asked Questions

What types of insurance does ReliaStar Life Insurance Company of New York offer?

Reliastar Life Insurance Company of New York provides a comprehensive range of insurance options, including term life, whole life, universal life, final expense, annuities, and more.

How does Reliastar streamline the application process for coverage?

Applying for coverage with Reliastar is straightforward. Interested individuals can contact the company, consult with a representative, choose a plan, submit an application, and await approval.

What are the benefits of choosing Reliastar for insurance coverage?

Choosing Reliastar offers numerous benefits, including financial security, tax advantages, flexibility, and a guaranteed death benefit, among other perks.

Does Reliastar offer discounts on insurance premiums?

Yes, Reliastar provides various discounts, including multi-policy, non-smoker, and loyalty discounts, to help policyholders reduce their premiums.

How can individuals request a quote from Reliastar Life Insurance Company of New York?

Requesting a quote from Reliastar is easy. Interested individuals can contact the company through its website or phone, and the company will guide them through the quote request process.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Free Insurance Providers Comparison

Compare Insurance Providers Rates to Save Up to 75%

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