Is New York Life A Mutual Insurance Company?

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   Tim Wilhoit

   Owner, Your Friend 4 Life, Brentwood TN

   Yes, New York Life is a mutual company. Simply put a mutual company is not a publicly traded company in the stock market and does not have shareholders. The policy owners are like the shareholders of the company. Some policies for example, like a whole life policy, can even have a vote in how dividends can be distributed to policy owners. There are always plus and minus when it comes to mutual companies versus stock companies. I would recommend contacting an independent life insurance broker and weight the facts on both types of companies.

   Answered on March 24, 2014

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