ManhattanLife Insurance and Annuity Company

ManhattanLife Insurance and Annuity Company, founded in 1850, is one of the oldest continuously operating life insurance companies in the United States. With over 170 years of history, the company has maintained a consistent focus on offering a variety of life and health insurance products to meet the evolving needs of its customers. Manhattan Life was originally headquartered in New York but has expanded its presence nationwide and now operates from its headquarters in Houston, Texas.

Over its long history, Manhattan Life has built a reputation for financial stability and customer-centric solutions. The company has weathered many economic challenges, including the Civil War, the Great Depression, and numerous market fluctuations, making it a resilient and trusted player in the insurance industry. In recent years, Manhattan Life has modernized its offerings, moving from traditional life insurance into the realm of Medicare-related products, hospital indemnity plans, and accident insurance, among others.


Manhattan Life provides a wide range of insurance products, with a focus on several key areas: Medicare Supplement Insurance, Universal Life Insurance, Hospital Indemnity Insurance, Short Term Care Insurance, Accident Insurance.


Manhattan Life has consistently demonstrated strong financial stability throughout its history, earning respectable financial ratings from industry agencies like A.M. Best. Though it may not be rated at the very top like some larger carriers, the company has maintained solvency and a reliable ability to meet its financial obligations. As a privately held organization, Manhattan Life remains independent and focused on long-term growth, keeping its focus on policyholders rather than shareholders.

The company’s financial portfolio has diversified over the years, thanks to strategic acquisitions of other insurance firms, such as the acquisition of Western United Life Assurance Company and Family Life Insurance Company. These moves have strengthened Manhattan Life’s presence in key insurance markets, including Medicare Supplement Insurance and other senior-focused products.


One noteworthy aspect of Manhattan Life’s history is its involvement in creating the Statue of Liberty’s pedestal in the late 1800s. The company was one of the largest donors in helping fund the pedestal, cementing its place in U.S. history. This anecdote illustrates Manhattan Life's commitment not just to financial services, but also to supporting meaningful national causes.

Pros
- Longstanding History and Reputation: With over 170 years of experience, Manhattan Life has earned a strong reputation for financial stability and customer service.

- Diverse Product Portfolio: The company’s broad range of products, including Medicare Supplement, Universal Life, and Hospital Indemnity, provides agents with flexibility in offering solutions tailored to individual needs.

- Commitment to Policyholders: As a privately held company, Manhattan Life can focus on customer service and policyholder benefits, rather than being driven by shareholder expectations.

Cons
- Limited Brand Recognition: While well-established, Manhattan Life may not have the same level of name recognition as some larger insurance companies, which could present challenges in certain markets.

- Niche Focus on Senior Products: Manhattan Life's focus on Medicare Supplement and other senior-oriented products may limit its appeal to younger demographics or those seeking more diversified insurance options.


Manhattan Life Insurance Company is a longstanding and reliable player in the insurance industry, with a rich history dating back to 1850. The company specializes in Medicare Supplement Insurance, Universal Life, and Hospital Indemnity, offering comprehensive coverage options primarily for seniors. With a strong financial foundation and an independent, customer-focused approach, Manhattan Life continues to be a respected provider in the industry. However, its niche focus and relatively lower brand recognition may pose challenges for some agents and clients looking for a broader scope of insurance solutions.

Manhattan Life has been in the Medicare Supplement space for over 30 years offering five Medigap plans (Plan A, Plan C, Plan F, Plan G, and Plan N) and a comprehensive dental, vision, and hearing plan.
Manhattan Life provides a 7% household discount for two people in the same household on a Medicare Supplement policy.
Manhattan Life offers a relaxed underwriting process, allowing those with more health issues access to a Medicare Supplement policy.