New York Life Insurance Reviews

3.0 out of 5 stars
6 Reviews

From Policyholders in the last year


Application Process

4.5 out of 5 stars

Customer Service

4 out of 5 stars

3 5

Most Helpful Positive Review

Mar 21, 2013
Best out of them all!
Anonymous Policyholder

I have gone with liberty mutual, met life, and SBLI and I have to say that out of them all NY Life is by far the best one out on the market. You seem to take a loss with all the other companies, they tell you what you want to hear and it's not the same as what you get. NY Life is 110% honest and upfront when it comes to everything...and I mean everything...I can sleep better at night knowing I don't have to worry about my kids future...or having to worry about taking care of my parents when that day comes. And isn't that what everyone wants? :)

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Most Helpful Negative Review

Jan 18, 2015
Anonymous Policyholder

I got my original policy shortly after joining problems.  After a couple of years, I received a application to basically double the amount I was insured for at a good price.  Upon receiving it, they cancelled my policy, refunded the money I had sent thus far, but would not tell me why it was cancelled or send my copies of the applications I had submitted.  They said I had not been honest with health problems, but most people as they get older develop new health problems.  I can only assume there was something new on the second application, but I have no idea what and they were very short with me on questioning them and refused to tell me or send me any information of what was different and why I had not been honest with them.  AARP I would recommend to anyone, but never New York Life Insurance!  Very disappointed....

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These reviews were written by current and former policyholders in the last year.

Jan 28, 2017
whole life insurance
Anonymous Policyholder

Its pretty good.  My mother and I  had policies from here.

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Sep 28, 2016
Great policy to have- peace of mind
Anonymous Policyholder

It will help you in the long run & take care of you & your family

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Sep 20, 2016
Poor Representation from Insurance Agent
Anonymous Policyholder

The agents are paid on commission and incentivized to upsell you product while represnting themselves as advisors trying to help your financial situation. They do not clearly state that they sell insurance but take you through a long process of going through finances in detail and the only solution they present is life insurance. 

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Aug 09, 2016
Was supposed to be Whole Life Insurance
Anonymous Policyholder

I paid $75 per month for 30 years for a $250,000 life insurance policy that was presented to me by my employer as whole life insurance.  I just retired and now New York Life insurance company is telling me that what I had been paying on all these years was Universal Life insurance, and they want me to pay several hunderd dollars per month to turn it into a whole life policy. What's more, the premium on the Universal Life is no longer valid, even though I was told it would never go up.  The agent claims that the company is not making the same amount of money from their investments that they managed years ago, and they can no longer offer the same product.  In other words, they want their long time customers to make up the difference even though they made money off of our premiums all those years.  I would not recommend New York Life Insurance to ANYONE!

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Jul 31, 2016
Gitrdun40 Policyholder

Had and still have a policy since I was 19 . Now I'm 48. Always been excellent service when I needed. Even when borrowed against it. I don't see how they could do any better. 

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Jul 24, 2016
I was not told about term life insurance
Savage8604 Policyholder

I was not told about term life insurance we are older.I can't afford the term. I hope we die before 80 after that no life insurance.

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