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Business Profile

Insurance Companies

New York Life Insurance Company

Headquarters

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for New York Life Insurance Company's headquarters and its corporate-owned locations. To view all corporate locations, see

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New York Life Insurance Company has 240 locations, listed below.

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    Customer Complaints Summary

    • 332 total complaints in the last 3 years.
    • 112 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:04/11/2025

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Hello, I am writing in regards to my whole life policy that I wascyrying to reinstate and *** kept telling me that it was not completed properly and it was. Therefore, my policy was canceled and *** is not willing to reinstate it. I put alotvof money into my building my policy and that whole life was converted from my term policy and that's not fair. I would like an investigation started for I am not going to accept this. I spoke with my agent and she is confused as to why this is happening abd so am I. In conclusion, I am asking that someone look into this ASAP please for I do want my policy, I put alot if money into it.

      Business Response

      Date: 04/24/2025

      A response has been mailed to our client addressing their concerns. 

    • Initial Complaint

      Date:03/18/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I've been waiting for my long term disability claim to go through, I was alerted by *** that my leave was denied because it was waiting for the vendor decision. I did request an extension, but I need movement on my claim so I don't lose my job as I'm supposed to be on **** while seeking treatment.

      Customer Answer

      Date: 03/19/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      **** *******



       

    • Initial Complaint

      Date:03/18/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have reached out to my assigned contact at New York Life multiple times with no response and assume that he no longer works there. In any case, I have sent emails about canceling my policy that have continued to go unanswered. I actually just wanted to change it initially but have grown frustrated, I needed this addressed when I initially reached out and it is now weeks later.

      Business Response

      Date: 03/20/2025

      Dear ****** *****:

      Thank you for your letter dated March 18, 2025, to former Corporate Vice President **** *****. This communication has been referred to me for review and response. I appreciate your patience while we reviewed this matter.

      Please know we have reviewed the concerns raised by the policy owner and have responded directly to our customer to address this matter. To cancel the policy and end coverage, we require a completed and signed surrender form. We have sent one to the client via mail as we have no record of receiving a completed form. If there are any additional questions about the policy, the owner may contact **************** at **************.

      I trust this information is helpful in the Better Business Bureaus investigation. Please let us know if any additional information is needed.

       

      On behalf of New York Life,

      ***** ********

       Senior Associate

      Customer Answer

      Date: 03/26/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

      I have not received an email from New York Life. I am not sure if the email response is addressed to BBB staff, but the name in the response email is not mine. In any case, necessary forms for me to complete can be send to my email address ********************* Once received, I will take care of them promptly. Thank you for your attention. 


      Sincerely,

      **** ******




       

      Business Response

      Date: 03/28/2025

      Dear ****** *****:

      Thank you for your letter dated March 27, 2025, to former Corporate Vice President **** *****. This communication has been referred to me for review and response. I appreciate your patience while we reviewed this matter.

      A review of our records reflects we responded directly to the customer about this matter on March 20, 2025, via US Mail. In case that response was not received, we sent another response to the client via email. To cancel the policy and end coverage, we require a completed and signed surrender form. We have no record of receiving a completed form. If there are any additional questions about the policy, the owner may contact **************** at **************.

      I trust this information is helpful in the Better Business Bureaus investigation. Please let us know if any additional information is needed.

      On behalf of New York Life,

      ***** ********
      Senior Associate

      Customer Answer

      Date: 04/01/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      **** ******



       

    • Initial Complaint

      Date:02/27/2025

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have a claim with New York Life Group Benefit Solution I am reaching out regarding a payment that I have not yet received. According to my records, I was issued a check in the amount of $314.18 on February 5, 2025. This payment represents benefits due for the period of February 12, 2025, through February 16, 2025.Upon further review on Monday, February 24th, a representative informed me that there was an issue with my account number, which resulted in the payment not being sent to my checking account. As of today, I have yet to receive the funds that are owed to **** kindly request that this payment be processed and sent to me as soon as possible, as it is critical for me to receive the funds that are due. Name: ****** ***** Incident Number: *********** Policy Number: *********** Policy Name: ***************Underwriting Company: Life Insurance ** of *************

      Customer Answer

      Date: 03/06/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. Payment was received and the matter has been resolved.

      Sincerely,

      ****** *****



       

    • Initial Complaint

      Date:02/13/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Hello,I am reaching out with hopes that you can help me. My grandmother purchased a life insurance policy when my father was a child. My grandmother is the beneficiary on his policy. My grandmother passed in 2020 and the beneficiary was not changed. I am my fathers next of kin. I filed a claim to receive the proceeds from my fathers policy. I spoke with a New York **** she contacted me after I initially received the run-around when I called customer service. I had to contact the ****************************************** for assistance with getting answers. The New York life insurance *** called me & told me what information to provide to them in order for the claim to be approved and the insurance paid out. I have provided all documents that were requested however I received an update today in an Email that the claim was denied and was not given a reason. I was referred to the portal for an explanation however there is no explanation provided. I have provided everything the *** ask me to provide. I even spoke with a *** last week and he said according to him, I had provided everything needed, which includes my fathers and grandmothers death certificates, a copy of my Drivers License, the ****************** claim form and the Small Claims affidavit which was completed with the information the New York Life *** asked to complete along with it being notarized. All these required items were uploaded in their portal. Its disappointing to have to continually pursue an insurance company for proceeds on a paid up policy, after loosing a love one. Its terrible to have to experience this treatment after the loss of a loved one. I am hoping you can assist me so that I can receive the proceeds from my dads policy.Thank you,**** *****

      Customer Answer

      Date: 02/19/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      **** *****



       

    • Initial Complaint

      Date:02/11/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Have a New York life insurance policy on my husband 30+ years. Out of the blue get letter stating we haven't been paying enough so we are going to double your monthly payment ! No explanation only a customer service number to call because we have no Agent.This policy has fallen in a black hole. Left message for a local NY Life person to call me back. So far no word. How do you get to talk with real people, who care, understand the issue and try to fix it?

      Business Response

      Date: 02/25/2025

      We have responded to the client directly.

      Customer Answer

      Date: 03/05/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      **** ******



       

    • Initial Complaint

      Date:02/11/2025

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I took a loan from my life insurance policy in 2018. At that time, I was given inaccurate or incomplete information regarding the loan. I was told the loan or interest did not have to be paid back; if I choose not to pay anything, the loan plus accrued interest would be subtracted from the death benefit once claimed. In 2024, the company forfeited my policy, without communication to me via mail or electronically. This generated a 1099R. I had no knowledge of this until I received the 1099R and then called the company to find out what happened. They advised the loan amount plus interest had surpassed the cash value and was forfeited. I then requested a solution, that I would pay all interest, but would like the 1099R zeroed. They declined negotiation. I have included an image of the 1099R, the fax sent 01/27/2025 with my reinstatement request, the reinstatement exception request letter that was sent in the fax, an image of my email search showing the last electronic communication in 2022

      Business Response

      Date: 02/13/2025

      To whom it may concern:

      Thank you for your letter dated February 11, 2025, to former ********* **** ********* **** *****. This communication has been referred to me for review and response. I appreciate your patience while we reviewed this matter.

      Please know we have reviewed the concerns raised by the policy owner and have responded directly to our customer to address this matter. We found we responded to this same inquiry to the policy owner on a previous occasion on February 7, 2025. Our records show proper correspondence was sent to the policy owner and we could not find anything being returned to New York Life as undeliverable.

      We are glad to reinstate the policy with money only at this time. Since we are now in 2025, we are unable to change the 1099R for the 2024 tax year. If the policy is reinstated, we can adjust the cost basis so the amount that was taxed in 2024 will not be taxed a second time in the event of a future lapse or surrender.

      I trust this information is helpful in the Better Business Bureaus investigation. Please let us know if any additional information is needed.

      Customer Answer

      Date: 02/13/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

      The previous communication with me directly nor this response has provided the resolution desired. The company neglected to provide all information during the initial loan process nor provided proper communication regardling the forclosure and is not offering anything to make it right. Increasing my cost basis is something the company would legally have to do, as I can't be taxed twice IF I paid the money only to reinstate the policy. Its not something the company is doing as if it is out of their way to make this situation right, the way its being proposed as. I want the forfeiture backdated and a business exception to reverse or zero out the 2024 1099R.

       

       

       

       

      In order for the BBB to appropriately process your response, you MUST answer the question above.


      Sincerely,

      ******* ******




       

      Business Response

      Date: 02/24/2025

      To whom it may concern:

      Thank you for your letter dated February 17, 2025, to former ********* **** ********* **** *****. This communication has been referred to me for review and response. I appreciate your patience while we reviewed this matter.

      We have received a complaint on this same matter from our state regulator, the Texas Department of Insurance. We will respond to the client through our state regulator.

      I trust this information is helpful in the Better Business Bureaus investigation. Please let us know if any additional information is needed.

    • Initial Complaint

      Date:01/29/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Have short term disability provided by *******. Leave was 12/18/2024 - 12/27/2024. Benefits didn't start till 12/25/2024. Thus 25, 26, 27 should have received 3 days of benefits at 66%. In 3 days, I earn $1,977.60 thus NY Life was responsible for $1,305.22 at 66%. Claim wasn't started until 1/3/2025. Initial benefits given were $13. Tried to explain the discrepancy and was told I was incorrect. Reached out to HR, they got another $436, but listed the 2025 CO FAMLI rate NOT the 2024 CO FAMLI rate. Thus I'm still short, was given an email that bounced, and tried two other emails listed on the site. Reached out to HR again. They sent another $48 out which I haven't received as of 1/27/2024. Regardless, $1,305.22 - CO FAMIL payment of $660 = $654.22 thus the expected payment from NY Life, not $497, so it's still short $150. This shouldn't be this complicated. I just want the benefits that I pay for in a timely fashion. I've spent 8+ hours on the phone and with HR trying to get this correct. It's not a problem with my company but that of NY Life.

      Customer Answer

      Date: 02/03/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      ******* *****



       

    • Initial Complaint

      Date:10/14/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      This is in regards to their shady operating procedures and recruiting practices.I had applied many years ago due to struggling to find work; Did not accept any offer due to deceptive hiring practices (Having to pay $$$ to be able to work there like an MLM scheme, interviews held as 'seminars'/'webinars' of 5 to 20 applicants, etc)Since then, I have continuously received recruiting emails, and each time I have requested to be -removed- from their list, that I have no interest in working for a company as shady and disgusting as ************ I received another one for one of their many 'hiring events'. Once again, requested that I be removed from their list.They responded within the hour, ignoring my request, and encouraging me to attend the event...I have also filed a report with the *** regarding the lack of action.I have requested to not be contacted again, I have requested to be removed from their lists, I have demanded both.I want to ensure I am never contacted by this company again, and ensure that others who also deal with them have their requests also heard and adhered to.I have attached 2 screenshots noting the timestamps of interaction, as well as the email with my request to be removed.

      Business Response

      Date: 10/18/2024

      Please be advised we have taken the necessary precautions to cease further correspondence to *** ******* as follows:

      The ******************** has been advised to cease future recruitment correspondence to ****** *******.

      We have added both his email address & his phone # provided in his complaint to our respective Do not Email and Do Not Call platforms. 

      We trust these measures will adequately address the concerns *** ******* brought to our attention and apologize for the inconvenience this has caused. *** ******************************** you

    • Initial Complaint

      Date:10/07/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Monday, August 26, 2024 Proven Fiancial Hardship to surrender annuity policy. After several rounds of proof, being ignored and still waiting on surrender promised.

      Business Response

      Date: 10/18/2024

      Thank you for your email dated October 7, 2024, on the above referenced Complaint ID.This communication has been referred to me for review and response. Thank you for your patience while this matter was reviewed.


      Please know that we have reviewed the concerns raised by ********** ******** and have responded to our customer directly to address and resolve this matter. It was determined that the necessary paperwork required to initiate a review of the financial hardship has not been submitted to us.


      *** ********, I trust this information is helpful in your investigation. If you have any questions, please do not hesitate to contact me directly at **************, Monday through Friday, 8:00 am to 4:30 pm Eastern time. 

      Customer Answer

      Date: 10/23/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

      My answer is, either you surrender this policy to me or I will be suing you for its value as well as punitive damages, which will far outweigh the value of the policy. Here is my latest letter. I will not be forced into being homeless because New York Life is too greedy, selfish and apethetic. Attached is a copy of my most recent letter.

       

       

       Sincerely,


      ********** ******




       

    New York Life Insurance Company is NOT a BBB Accredited Business.

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