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New York Life / Employment misleading/discrimination

1 Las Vegas, NV, United States Review updated:

I was contacted by a recruiter and by the general manager. After through a series of employment verifications, I was hired as an agent, being promised by the general manager who reviewed New York Life documentation that I would earn $125k per year following the model (as was the same with many other new agents).

After 9 months as an agent, New York Life had found a way to continually charge me as an agent for more and more office space charges, additional licensing that wasn't needed, and I ended up owing New York Life more than I had made. I had to load their software giving the company FULL access to everything on that computer (so I purchased a computer solely dedicated to NYL).

I witnessed and/or experienced within the 9 months, management sexually harassing women, harassing gay agents which I reported and no investigation was done, spreading false poor financial information about agents that had resigned, and I personally had to endure a senior agent discriminating against African American clients and prospects, with the approval of management.

The managing partner and development manager required me to work on a case of a 90 year old man that had requested an agent. I resigned in part because they were insisting that I find a way to move his $500, 000 life savings and investments into New York Life policies, without him having any representative present, which is illegal.

The general manager has manipulated my resignation to show a later day of resigning from the company, so they have added additional charges, client policy reversals, but will not pay commissions that came on, and adding over $500 of additional costs to my ledger 60 days after my resignation and threatening via letters with taking me to creditors. My repeated requests to meet with the new general manager have been refused, and one manager did his own investigation, responding with their verification of me now owing over $600, 90 days after I resigned.

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Comments

  • Bl
      20th of Sep, 2013

    This sounds like dejavu and it's obvious this behavior of management is preapproved by corporate. This exact same thing happened in Oregon offices except our manager was Blake McKinney, the word needs to get out about this company. Just about everyone I have known that left that company ended up with a bill that New York Life would not justify or explain on paper. I believe the bills they send out is a last ditch effort for them to still act like they are in control and to put the screws to your wallet. Don't pay the bill it's a scam several agents have found this out.

    0 Votes
  • Ki
      22nd of Apr, 2016

    As a 29.45 year independent agent, affiliated with New York Life I find most of the characterization of NYL to have some kernel of fact. There are a few bad apples in every organization, but I know the culture at NYL isn't as painted. Some agents have written business to get upfront commissions and if the business doesn't stick I'm sure they may find N.Y.State law would require payback as well as a new agent is told this in beginning. I've never heard of company not explaining a debt. It is clearly notated on the ledger statement. I've never seen a deduction not coded or described. Period. Yes, I know there have been jerks in wrong positions over the years. Yes I've reported a few bad practices by agents. But I repeat, It isn't wired by corporate office to have unethical dealings. Quite the contrary. Yes, being a business ownerhas costs and risks. But this is a business and a company like NYL does not have highest ratings from all rating services because it tries to fool anyone; agent or client. Some sour grapes have slipped into this "complaint" I'm thinking

    0 Votes
  • Ki
      22nd of Apr, 2016

    Again, a little exaggeration. Too non-specific as to product or what is meant by representation. Tell me specifics if you want me to believe the story. I know the insurance business isn't for some, but to slam a whole company for the ignorane of a few( if true) is unfair. I could call the CEO and get action if I knew there were unethical things going on. But one needs to be more specific to be valid, in my humble opinion

    0 Votes

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