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New York Life Insurance Company Complaint - NYLife is a Scam - Life Insurance
New York Life Insurance Company Complaint

New York Life Insurance Company Complaint


NYLife is a Scam - Life Insurance

NY life is a very dishonest company. Do not give them any of your time or money. I have had nothing but problems with them. from the local agents to the headquarters, no one within the company will reveal any info, any direct questions, or put you in touch when any form of real authority to resolve any kind of issue. they miscategorized my rating, took 3 monthes to recognize it, renigged on the re evaluation and charged me the whole time. they wont refund dime one of my money "because I was insured the whole time". I get official NYLife letters with NO DATE, NO POSTMARK and NO SPECIFIC INFO - and I mean NONE. any phone number they put it takes days to get someone to answer it and then everything has to go through the head office underwriting of which you cannot contact diretly. DO NOT BUY ANYTHING FROM THEM... NOTHING its up to the state commissionor now. advise to anyone that is going to complain to NYLife, get a phone recorder and log everything every day. you wont beleive what these guys will put you through. they mentally wear you out by switching supervisors and making you retell the story because "they havent heard that yet"
do yourself a favor and cancel any policies immediatly. you will be glad you did... of course i cancelled mine and still recieve paperwork and solicitaions

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NYDis says: (5 years ago)
I agree that they are dishonest and try to wear you down. Unfortunately I've had this policy for 38 years and it wasn't always this way. Trying to make changes now and have been working on these changes for over a year with no results, they continue to change the required information, they are rude and unresponsive. They are trying to cheat people out of their money.

MansGame1 says: (7 years ago)
If u can't earn with NYL... You are a HACK...sales is a mans game children, salaries are for the norm.., sales jobs are for men

tapout23rey says: (9 years ago)
It's an insurance company...and yes it shohld pay when someone passes away....But in investment advise I have to disagree with you on that. I actually work for New York Life currently. I hold a series 7 and 63,,,so I know what to do when a prospective client comes and ask a question....(the right answer) anyway!!!!!!! I have seen for may own eyes and ears...I over heard to agents talking about a prospective client. One stated that she was about to retire in December of 2009 and she stated that she wasn't registered yet and will be when she takes the exam on Monday the 23rd of 2009. (which was the right thing to say) The other agent stated for her to put them in a VARIABLE ANNUITY IT IS 4%.....what kind of sh$% is that...When you don't know what investment type of client you have and if it is approiate for the client that isn't right!!!! When you have agents like that giving advice to clients without knowing what the situation is.....is very unprofessional....I have a client that rolled over a large amount with me and needs to say I didn't put hime in a annuity because it wasn't appropriate for him...Commission is not everything doing the right thing is everything..in my oppinion. Like I said I hold a series 7 and 63...I can do better than NEW YORK LIFE..I'm sorry...Paying claims is one thing but actual portfolio's run away..annuities is the answer with them!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Ceo21 says: (9 years ago)
Wow that's funny... NYLife paid a cliam in 6 days and sent me a check for $257,042. I guess if they were a scam they would have kept it. It sounds to me like you are an idiot and have no business sense. Look at all the ratings and AAA seems pretty good in today's economy. I think I will keep ALL my policies with New York Life. Next time maybe you should go with Shifting Sands of Sarasota, I hear they take idiots of all sorts.

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