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New York Life

New York Life review: Life insurance

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2:37 pm EST
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At the beginning of this month, I spoke with the AARP Life Insurance Program to make a loan against my whole life policy. I was making the loan because we had a death in the family and their policy was not enough for their burial. I was told they would send me the documents to start the process. After a few days, I called back, found the documents online, and faxed them on February 5, 2025. When I spoke with them, I was told they had received the documents and they were being processed. On February 18, I had not heard anything and was checking the status of my request. I was still being told it was in process. I demanded that my policy be canceled and faxed the cancellation request form on 02/18/2025. I called again today, 02/24/25, and was still being told it was being processed. I asked to speak with a supervisor because I was not getting reliable answers. A customer service representative, Prudence, transferred me to a manager, Denise McDonald. When it was canceled, I spoke to John on 02/18/2025 and he was supposedly canceling while on the phone with me. After speaking with Denise she said she was sending an email to the manager of the processing department and they may get back to me within a week. I have paid 171..81 per month for 8 years into my whole life policy. I am continuously getting the run-around. When I spoke with the manager today, I told her if it were my family trying to take care of my final expenses, the policy would probably not pay or give them the run-around. My policy is a 25,000.00 policy and they are not giving me reliable answers. I was told by John I may get about 4900.00 because I was canceling my policy.

Claimed loss: 4905

Desired outcome: Please send me the cash value of my policy.

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