Report: #509613

Complaint Review: New York Life Insurance - Internet

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Ripoff Report is Xcentric Ventures

Submitted: Thu, October 15, 2009
Updated: Thu, October 15, 2009
Reported By: sncnative — Texas USA

Author Not Confirmed

Why?

New York Life Insurance madison ave., ny, ny. Internet United States of America

Phone:
Web: ww.newyorklife.com
Category: Insurance Companies

New York Life Insurance They take more than yu make Internet

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New York Life promises to help you be in business for yourself but not by yourself. However, they take more from you than they give in compensation.

New York Life charges its agents fees for office supplies, an office cubicle, telephone usage, copier usage and other assorted fees. The base commission of $1500 a month is mostly taken back by NYL while it is also tied to production requirements that continue to increase the longer you work there.

NYL also pays advance commissions that they rescind and charge back to the agents if a policy is canelled or not approved by underwriting. Due to their strict underwriting, agents often work to pay back negative balances. If balances are not paid back, NYL turns the agent over to collection agencies.

This is definetly not "The Company You Keep."

This report was posted on Ripoff Report on 10/15/2009 07:25 AM and is a permanent record located here: https://www.ripoffreport.com/reports/new-york-life-insurance/internet/new-york-life-insurance-they-take-more-than-yu-make-internet-509613. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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