Max New York Life Insurance

www.maxnewyorklife.com
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Max New York Life Insurance Reviews

Updated June 23, 2015
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135 Employee Reviews

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  1. Helpful (1)

    Extremely challenging initially but high up-side potential.

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

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

    Neutral Outlook
    Approves of CEO
    Neutral Outlook
    Approves of CEO

    Pros

    Excellent training and massive amounts of resources at your disposal. Company brand is extremely strong. Compensation structure has potential for extremely high income.

    Cons

    Company charges you, the agent, for everything. They charge you rent for your cubicle, your phone, internet, making copies, stationary, business cards, etc. Compensation is 100% commission. You will also lose "friends".

    Advice to Management

    With the exception of a couple senior-level managers, my experience with management was positive.


  2. Helpful (1)

    Agent

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Max New York Life Insurance

    Pros

    Friendly, Treats employees with respect, work life balance, smart employees, opportunity to grow,

    Cons

    The only con i can think of is the initial training. Passing the appropriate test takes time

    Advice to Management

    Great job!


  3. Helpful (1)

    They are an excellent company.

    Current Employee - Insurance Agent in Charleston, SC
    Current Employee - Insurance Agent in Charleston, SC

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    They give first rate training.

    Cons

    Long hours at the shop.

    Advice to Management

    Keep promises to your agents.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Financial Service Representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Milwaukee, WI
    Former Employee - Financial Services Professional in Milwaukee, WI

    I worked at Max New York Life Insurance full-time (More than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great Management Teams! Love Milwaukee! Learned so much and they really cared about me and my success.

    Cons

    Tough financial market and have to be extremely dedicated.

    Advice to Management

    Keep up the great work!


  6. Helpful (1)

    Reputable name within the Insurance Industry

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    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 Management

    Develop a mentorship program for young agents.


  7. Great Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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


  8. Helpful (1)

    Great Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    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 Management

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


  9. Insurance Agen

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 a year)

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

    Pros

    Great Training, Resourceful Team, Great Mentors

    Cons

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


  10. Remarkable MP and Staff

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 a year)

    Doesn't Recommend
    Positive Outlook
    Doesn't Recommend
    Positive Outlook

    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 Management

    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...


  11. Financial Services Professional

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 a year)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    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 Management

    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.



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