Max New York Life Insurance

  www.maxnewyorklife.com
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112 Employee Reviews (View Most Recent)

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Remarkable MP and Staff

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Financial Services Representative  in  Denver, CO
Current Employee - Financial Services Representative in Denver, CO

Pros

Denver GO is a great place to build a practice. There is an energetic work environment with passionate development managers, unparralelled products, and fantastic professional development, The MAP process is invaluable at helping people recognize their life insurance need and highlights the importance of after tax assets. Sit down with Mark Biren (managing partner) for 45 minutes, and it will blow your mind.

Cons

Most people will fail at this job. Several others will build their book and get "poached" to another outfit. I keep plugging away because I believe in myself, and I made promises to my clients.

In a word, the biggest con of this job is uncertainty. You never know where your next client will come from. One needs to keep from having "commission breath" (i.e. that sense of desperation that you need to land another case). Treat your clients like gold to survive. That is the company mantra, and something I utilize in my practice.

The sweet spot for our concepts are the upper middle income to upper income markets. NYLIC has placed a high minimum floor for the face amount for several of their products (probably a good business decision but limits what we can place). Other than that, I can't really complain. Any place that you go to in financial services will be similar. You have to build your own book of business when you start out. You can either build a practice, or you can work in a call center. Call center work has low upward mobility. At least I have a "coin flip" chance of being successful by working under a NYLIC appointment and NYLIFE Securities broker dealer. We dominate on life products and the value they provide. We also just so happen to provide top tier investments.

Advice to ManagementAdvice

Hey, MAINSTAY is great for the niches dug out, but would you be willing to allow internal/external wholesellers show Franklin Templeton and other funds we can use on the short list? MAINSTAY is great for some areas of a portfolio, but we could benefit from utilizing other's expertise.

Other than that, I really like the fact that NYLIC is starting to advertise! How can we expect to place business when we are the least thought of insurance company (here I am referring to the consumer survey where consumers named everyone except for us).

Thank you for keeping life in the company name. 7 out of 10 people get to retire, but, at last check, 2 out of 2 people die...

Doesn't Recommend
Positive Outlook

Other reviews for Max New York Life Insurance

  1.  

    Financial Services Professional

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional  in  Melville, NY
    Current Employee - Financial Services Professional in Melville, NY

    Pros

    Great opportunity if you have business connections. You have to approach this as if you are building your own busiess. Of all the companies I've worked for and researched New York Life has the best development and pay scale.

    Cons

    100% commission. You tend to be working all of the time. I've had numerous weeks that I've worked 60-70 hours and made ZERO Dollars. Managers want you to be a part of their meetings that are just glorified pep rallies. You make no money going to these meetings and you're usually encouraged to cancel any money making appointments to attend them. You have to learn to do whatever makes you money and ignore everything else.

    Advice to ManagementAdvice

    Be willing to help those that work hard and ignore the people that do now have the work ethic. Also stop having mandatory meaningless meetings.

    Doesn't Recommend
    Neutral Outlook
  2. 1 person found this helpful  

    Good Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional  in  Stratford, CT
    Current Employee - Financial Services Professional in Stratford, CT

    Pros

    New York Life offers extensive training and great opportunity for growth. The company is well known and is extremely stable. The training is great as well

    Cons

    It requires a lot of work in the first few years. Expect to work at an absolute bare minimum 45 hours a week. Although the hard work will pay off!

    Advice to ManagementAdvice

    Keep up the good work!

    Recommends
    Positive Outlook
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