Max New York Life Insurance

  www.maxnewyorklife.com
  www.maxnewyorklife.com

Max New York Life Insurance Reviews

Updated December 21, 2014
Updated December 21, 2014
126 Reviews
3.7
126 Reviews
Rating Trends

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Max New York Life Insurance CEO & Managing Director Rajesh Sud
Rajesh Sud
27 Ratings

Review Highlights

Pros
  • Job safety for all trainers, work culture safety for all women were the real add ons (in 11 reviews)

  • Flexible work environment, independence, every day is different (in 7 reviews)


Cons
  • Salary is all commission based, not a great job for a student out of college (in 3 reviews)

  • You have a trail period or P-Tas period to show them what you can do before you are actually a full time agent (in 3 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Reputable name within the Insurance Industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Los Angeles, CA
    Current Employee - Anonymous Employee in Los Angeles, CA

    I have been working at Max New York Life Insurance full-time (more than an year)

    Pros

    Unlimited amount of resources for agents. Company brand and history. Ability to set your own schedule and work in markets of your choice.

    Cons

    Management cares more about hiring new agents then growing skills necessary to succeed. Revolving door. Most agents do not make it through the first year due to lack of training.

    Advice to ManagementAdvice

    Develop a mentorship program for young agents.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    Great Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Max New York Life Insurance full-time

    Pros

    Limitless Salary, Great Education, Flexible Schedule

    Cons

    Commission driven. No Guaranteed Income

  3.  

    Agent, Portland Oregon office

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent in Portland, OR
    Former Employee - Insurance Agent in Portland, OR

    I worked at Max New York Life Insurance as a contractor (more than an year)

    Pros

    can somewhat set your own schedule, free office cubicle for first 3 years with free phone service

    Cons

    unless you are wealthy and/or have wealthy friends it is very hard to meet quota as far as insurance sales go. There is not help in finding new leads, except that you can buy potential leads that of course do not necessarily lead to a sale.

    Advice to ManagementAdvice

    care more about individual agents', provide ACTUAL training, give help on seminars

    Doesn't Recommend
    Disapproves of CEO
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  5. 1 person found this helpful  

    Great Company

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

    I have been working at Max New York Life Insurance full-time (more than an year)

    Pros

    Control your hours, income, and client base. Work with one of the most reputable companies in the industry

    Cons

    Long hours, Partners never know how to develop just recruit, and give you misinformation to help their bottom line

    Advice to ManagementAdvice

    Have more extensive training for partners (sales managers) so if you go to them with a question they can answer it

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Insurance Agen

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent in Houston, TX
    Former Employee - Insurance Agent in Houston, TX

    I worked at Max New York Life Insurance full-time (less than an year)

    Pros

    Great Training, Resourceful Team, Great Mentors

    Cons

    Salary is all commission based, not a great job for a student out of college.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    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

    I have been working at Max New York Life Insurance full-time (more than an year)

    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
  8.  

    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

    I have been working at Max New York Life Insurance full-time (more than an year)

    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
  9. 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

    I have been working at Max New York Life Insurance full-time (more than an year)

    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
  10. 1 person found this helpful  

    Not a good overall experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Services Professional in Rochester, NY
    Former Employee - Financial Services Professional in Rochester, NY

    I worked at Max New York Life Insurance

    Pros

    Great flexibility with time, good money if you sell

    Cons

    all commission, be careful who you trust, have fun bothering your family and friends until they don't want to talk to you

    Advice to ManagementAdvice

    don't lie

  11.  

    Reputable company with great support

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Agent in San Jose, CA
    Current Employee - Agent in San Jose, CA

    I have been working at Max New York Life Insurance

    Pros

    Great place to work for if you want flexibility. Not required to go into the office unless there's a mandatory meeting. Unlimited earnings potential. Great management team that very supportive and wants to see you succeed.

    Cons

    Commission only pay structure. When submitting business strict underwriting requirements can sometimes throw you off guard when policies are declined and you end up owing NYL your commission back. Some trainers during orientation tend to make it seem as if selling insurance is easy until the reality hits when you're out in the field.

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