New York Life

My husband bought whole life insurance and he does not understand much English, so I called Vietnamese agent from New York Life Company to come to our house to help us fill out form and we trust on that agent. He also wanted to sell my husband disabilities insurance and said just a couple dollars more per month. My husband agreed to buy from him while life and disability. He asked my husband when I was sitting next to my husband. "Do you smoke?" So my husband said, "Yes, but quit about 5 years ago." "Any alcohol?" My husband said “yes” but occasionally with friends for party. That agent doesn’t ask any further questions and fill out the rest and ask my husband to sign a form.

If you are purchasing a short or long term disability policy from New York Life, expect to be left in the dark and a cold shoulder when its time for them to uphold their end of the deal. Our agent was as good as any agent, but this was because he is personally a great guy. However, as a whole New York Life has a major barrier between their organization and their members. Other than their life insurance portal, New York Life (NYL) has no online member services and will not send any copies of your policy.

Honestly, I would tell everyone to stay away from NEW YORK LIFE INSURANCE. My ex-husband had life insurance policy with them for 15 years with our children as beneficiaries. He died unexpectedly and when I filed the claim with New York Life, they simply denied the claim due to the deceased having missed 2 monthly payments of $28/month. He had this policy for 15 years and always paid. Before his sudden death, he became ill but did not tell anyone about it. All of his bills fell behind including the auto-pay for the premium of his life insurance. You would think that after paying a policy for 15 years without ever missing a payment, the company would pay but it's not the case. They didn't bother to notify him that his policy had lapsed. I am actually in the market right to purchase life insurance but there is no way I will ever deal with NEW YORK LIFE - THEY ARE THE WORSE!!

I used to work for NYL... They have some great products as long as you have an agent that is actually explaining all of the pros and cons to you. Employees are paid on commission only - bonuses on top of qualifying commissions. Management talks a lot about "doing what is right for the consumer" but I have personally seen so many times where the opposite is done and management will limit what they suggest an agent do based on the licenses of the agent. Customer service is pretty good if you are a client only, and not an employee.

They ask medical questions and will deny you because of your answers. But NY Life with AARP sends out ads of a final death insurance with NO medical questions, but they ask many. Then if you answer truthfully, they deny based on your answers. DON’T FALL FOR NEW YORK’S DECEPTIVE ADS!!!

They talk you into policies with promising numbers - but once you sign up - nothing but fees. If you deposit $400, they only "invest" $370 or so. 7% in fees!? They aren't that up in stock market gains, that's for sure. It's ridiculous. They say how NY Life has "dividends" they pay - I've never received any dividends. This company is very deceiving and fraudulent basically. AVOID AT ALL COSTS!

What a joke!!! New York Life routinely misplaces documents that can't get death benefits paid out and everyone has an excuse. We have been trying to get money from them for two months and there is a failure at every level. Everyone should file complaints with their state insurance boards to hold someone responsible!!!

I just spoke with Sheri **'s Cleveland Ohio service center. Asked her speak with her supervisor Tammy **. She was on the other line. Sheri stated that I had a P.O. Box address on file for her to send a copy original policy. I told her I have already provided my correct mailing address and it is updated on your system because a letter has came to me from NYLI company. She kept on saying it's my PO Box on the system. She took all my information sweetly. But at then at the end I didn't get anything but telling me I will be corresponded thru email. If I already have received a letter from them. How can they not have my correct address on file?

I was told when I signed up for a Life Insurance Policy in February from AARP through New York Life that my policy would have cash value if I needed it at a later time or decided to do away with the policy. Since that time, I have had money taken out of my account on a monthly basis and have not received, but only received my initial mailings with forms. Today I canceled and was told that it has NO CASH value and to "HAVE A WONDERFUL DAY." After reading other reviews today, I'm personally glad that I'm canceling at this time instead of later. I have now lost over $500 with no chance of getting it back instead of thousands like other people. I'll never deal with New York Life. Again.

A friend of mine who was an agent for NYL advised me to open both a term policy and whole life policy about a year and a half ago. When I unexpectedly got laid off this year, I was unable to make my very high premium payments on the whole life policy, so I worked with my agent for over a month on the surrender of the policy. He informed me that I would get a check for approximately 20% of what I'd put into the policy thus far. When the check finally arrived (2 months after I surrendered the policy) it was less than 1% of the value that I had put into the policy up to this point. Furthermore, I randomly get calls from varying agents about my term policy... It seems there is no coordination and certainly no honesty associated with this company. So basically, if you want to just donate money to major corporation with any unlikely payout at the end, stick with NYL. If not, I'd recommend avoiding this scam altogether.