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New York Life Review

New York Life Customer Comments

These are comments left by site visitors who have completed a survey for this company. The comments are unedited and shown in the order the surveys were received. If you would like to participate, just click the "Take a Survey" button at the end of these comments.

"This company has some of the worse trained agents imaginable. Had some guy come to my house and told him I wanted term insurance and he had nothing good to say about it, although I've found many respectable sources who say it's the only type of insurance you should buy especially if you have young children. Instead, he kept pushing whole life which was way more expensive than term. I wonder who he was trying to help more, my family or his."
Commented on 2016-10-09 15:51:02 EST
"The agent told me that the cash value was available for college tuition for my son, which is true what he didn't tell me was that it would be a loan. The agent is no longer with the company and I was told that I can cancel my policy if I don't want to borrow the cash value and get it without paying interest... this is very confusing. I still need some coverage, but now at my age it is more expensive."
Commented on 2015-07-22 19:09:31 EST
"NEW YORK LIFE is by far the most superior life insurance company. They actually sit down with you to determine your actual needs to ensure you aren't paying for more than you need. The bottom line is New York Life places more emphasis on the needs of their clients than any other company. Their entire focus is building TRUST with their clients and producing dividends year after year. Oh yea, I forgot to mention that they have the highest COMDEX ranking of a perfect 100 by all four of the major crediting agencies. Most financially sound company in the industry"
Commented on 2015-04-06 17:02:47 EST
"I signed up for level term life insurance and somewhere along the line it "became" decreasing term life insurance without notice or explanation."
Commented on 2014-11-26 12:44:28 EST
"great company"
Commented on 2014-07-10 23:48:36 EST
"Need to have reps for company give straightforward and exact answers to questions no ambiguity."
Commented on 2014-01-15 14:27:44 EST
"Best insurance company ever."
Commented on 2014-01-13 20:51:43 EST
"life insurance policy..we are still waiting on pay out check 6 months later"
Commented on 2012-07-24 12:39:41 EST
"i prefer to pay more for quality service and peace of mind to know that they will be in business in many years to come"
Commented on 2012-02-25 04:49:13 EST
"Do not do it. Had agent come to my house about investing in a Roth. After being told a Roth was not a safe investment we were told about whole life savings plan. We were shown inflated returns on a laptop that made it look like a better investment. These WERE NOT TRUE. Since we did not ask for a printout we have no way of getting our money back. Do not trust these guys even if they are friends like my agent. Worst company I have dealt with. "
Commented on 2012-02-24 12:49:59 EST
"We were lied to about the type of coverage that we needed. We were told that "investing" in a life insurance policy was by far the best place to put our money. As a result we put a lot of money in and had nothing to show for it after all the commissions and expenses were paid. We ended up having way less coverage than we actually needed."
Commented on 2012-02-09 15:57:11 EST
"Took six months to get life insurance transferred to an annuity. They dragged their feet on every step. Whenever I called was told it was being expedited but it never was. Had two policies one for 55 years and the other for over 30. "
Commented on 2011-10-19 07:23:24 EST
"For me the only company that puts their clients interests first. As a lawyer I know all about the shady practices of most insurance companies, but I have never had or have heard of a problem with New York Life."
Commented on 2011-05-27 18:47:26 EST
"The ad with the woman showing sympathy to the other woman, is a horrifying and insensitive way to represent your life insurance company. I and my friends mute and turn away from this commercial, we should not have to this. A friend just lost her mom and it is a scarry reminder to the those who have not lost theirs. This commercial should be removed immediately. Make it simple and you will get people look, pay attention and join your company."
Commented on 2011-03-09 16:18:49 EST
"NYL simply put is the only company I would trust my Life Insurance too. My family has had policies with them going back 3 generations and I have now set up policies on all of my kids. Service is awesome, Agents are honest and prices, while slightly higher than others, is worth the price I pay in all other aspects."
Commented on 2011-03-03 09:26:43 EST
"I have always been generally happy with the company...agents are agents no matter what company they work for and virtually all insurance companies customer service sucks so theres not much you can do about it no matter where you buy. This company has a great rep though as far as financial ratings. I would buy from ANY mutual company...not a stock traded company...thats when you get in trouble."
Commented on 2011-01-07 18:49:15 EST
"Simply very professional, more than fulfilling all commitments and very courteous is how we would describe our New York Life Agent. We have been with other life insurers in the past, but when looking for the most financially stable and solid company, and hopefully with few complaints, we landed at New York Life, and we are very happy here. "
Commented on 2010-12-15 10:56:14 EST
"NY Life is very devious.They only ask a few questions.If they find that someone had an earlier health concern,not asked about,they use it to deny paying the life insurance.They are very rude and arrogant too."
Commented on 2010-09-10 07:13:31 EST
"My mother died on 6/28. I notified NY Life to stop the monthly life benefits on 7/5 and on 7/8 I received notice that they wanted a refund of the JUNE deposit. THE JUNE DEPOSIT, really!!!"
Commented on 2010-07-09 14:55:14 EST
"New York Life and my agent have been wonderful for the last 2 and half years!!! My agent schedules "check ups" every 6 months to make sure I am happy with all of my accounts and investments. Would recommend to everyone!"
Commented on 2010-05-21 12:12:12 EST
"My agent was very knowledgeable about all of their products, unlike the other agents that were in competition for my business(AIG, Hartford, MET Life, and Primerica). I am extremely happy with everything he did for my family and myself. Will recommend to everyone!!!!!!!!!!!"
Commented on 2010-03-17 09:08:53 EST
"they take you though a process to really help you find out whats best for you and your family"
Commented on 2009-08-26 20:03:44 EST
"tried to sell me a whole life policy for an ungodly amount per month. i got a term policy for triple the amount and one third the premium cost. cash value is such a rip off."
Commented on 2009-07-02 19:07:17 EST
"THE AGENT HAS TOTALY FORGOTTEN ABOUT ME"
Commented on 2009-05-26 05:45:43 EST
"Truly solid and dependable. I went with a Whole Life policy after my agent explained to me the savings value of their policies. 6 years later I am very happy that I listened, and my cash values speak for themselves. When compared to other other companies, NYL ratings just can't be beat."
Commented on 2009-04-03 18:24:43 EST
"10 Yr. Joint Annuity policy--check written 2/2/09,thru my bank 2/18/09--never received policy---in March, requested a refund---has not been received as of 3/26/09. Contacted by phone and then mail on 3/24/09 their Chicago Service Center. "
Commented on 2009-03-26 00:28:33 EST
"in these tough times it's great to be able to borrow cash from our whole life policy"
Commented on 2009-03-19 11:46:21 EST
"Very happy with newyork life"
Commented on 2009-03-02 13:51:07 EST
"NYLIC's annual dividends paid on life insurance policies are pathetic, and border on criminal. Any whole life insurance policy should pay enough annual dividend to pay the policy premium after 10-13 years. Indeed, that was the projection provided to me by NYLIC. I own two whole life polices, one of 21 years' duration and one of 14 years' duration. Neither policy produdes enough dividend to pay the annual premium. On the 21-year old policy, the company applies the miserable dividend and then chews up some of the paid up additions to pay the annual premium every year under their POP program. Sooner or later, the policy payout will dip below its face amount as a result of participating in the POP program. Consumers of whole life insurance products BEWARE! The way NYLIC pays annual dividends, any whole life policy of insurance you purchase will never really pay for itself. Their dividends on whole life policies don't even come close to Northwestern Mutual, a truly solid life insurance company."
Commented on 2009-02-10 08:25:14 EST
"Once you make your first payment, they automatically start deducting your money from your bank account without letting you know. Do not trust them. I have life insurance with other companies and none of them do this. I was shocked and surprised when NYL did that because knowingly I will never sign up for anything like automatic withdrawal."
Commented on 2008-12-18 17:07:41 EST
"The best life company in the industry. I have 3 NYL policies and one Northwestern Mutual. I had to take loans from each when I fell on hard times. The NYL policies still continue to get the same dividend each year, but the NML was cut in half making the polciy very week. If the NWL policy was not 13yrs old I would change it to a New York LIfe policy. If we were all smart consumers we would buy from the best company (New York Life) and not the agent we liked or new the best"
Commented on 2008-08-26 14:17:59 EST
"Good Products."
Commented on 2008-04-10 02:15:46 EST
"I tried to get a quote from New York life. I found out that there is no online quote option. I set up an appointment with a New York Life agent. He wanted to meet me at my house. I wanted to meet him at his office. He doesn't have an office. He told me to meet at the local NY Life office conference room. I told him that I was looking for term life insurance and wanted the quote for the coverage and term that I asked for. We met per out appointment and first thing he did was gather a lot of my information like Name, Address, Date of Birth, Income, Employer name, my wife's name, date of birth, employer name, income. He was writing all this in a printed NYLife form. I said hold up, I just want a price quote for now for the term and coverage that I asked for. He said he has those ready but he had to go through stuff about the company. I had already looked up all that information online but I obliged and he went over that. I asked him why is collecting all this personal information and how will he secure it? He said he will keep it in a locked cabinet. Well, that's not secure enough for me. He is basically an independent agent. Anyone who has access to his cabinet could steal my personal information in this age of identity theft. How do I know if the agent is following the proper procedures to secure my information and will shred the paper work if he stops working for NY Life. On top of that, the agents bring their laptops (probably their own which could be hacked by a hacker or could have viruses). How do I know if my information is secure with a NYLife Agent? I looked at New York Life website and they have a privacy policy for their "ONLINE" sites. I couldn't find anything regarding their agents. How does a NYLife customer know that an agent is guarding their information as best as possible? Do they audit the home/office of their agents to make sure that the paper forms are securely locked? Do they encrypt the customer data on their agent's laptops with something like TrueCrypt? Probably not. So if the laptop of your NYLife agent is stolen, your information could be in wrong hands. I am very concerned about this. Can anyone else provide details on how these agents protect their client personal information?"
Commented on 2008-04-02 10:49:31 EST
"I would not own insurance from another company. My advisor at Keene Insight is the best, and my New York Life policy is the best contract from the best insurance company on the planet."
Commented on 2008-01-03 01:21:24 EST
"This company is definitely great. My policies are producing the cash that was illustrated and my agent is on top of things with annual reviews and unsolicited phone contact. Would highly recommend them."
Commented on 2007-08-26 10:49:08 EST
"No contact from NY Life in some years. Sends a statement once a year...that's it. Phone contact difficult and confusing, internet site the same. Attempts to contact personally are difficult at best."
Commented on 2007-08-07 12:14:04 EST
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