New York Life Insurance Co. is the largest mutual life insurer in the U.S. In addition to providing insurance and annuities to its clients, NYLIC offers securities products and mutual funds.
In early 2007, the company made a prescient move and significantly reduced its positions in credit and debt and invested instead in T-bills and other, more secure instruments. As a result, NYLIC is in excellent financial health and has retained top ratings. NYLIC is in such good shape that it declined to accept any TARP money.