New York Life Employee Reviews about "insurance"

Pros

The work schedule is somewhat flexible.

Cons

-The compensation for New York Life agents is 100% commission, despite what you may be told during an interview. There is zero guaranteed compensation. The monthly 'training allowance' for an agent is only paid to them during months in which the agent is able to earn at or above a minimum dollar amount of commission (That amount can be difficult to reach). During an interview, however, you will likely be told that the training allowance is guaranteed each month. -As an agent, you will not be paid the commission and training allowance that you've earned until you 'trigger.' Also, you will not be permitted to enroll in benefits until triggering. The triggering process is not mentioned during interviews in some cases. In order to trigger, an agent must sell at least six life insurance policies & must make at least $1,500 in commission. Reaching those numbers is not as easy as it may sound. -The number of policies sold by & the commission earned by each agent is posted on New York Life's intranet, and is also posted on a wall in certain offices. This public display of information makes a lot of agents uncomfortable. -The company-sponsored health insurance (through Aetna) is not as affordable as an interviewee may be led to believe. The health insurance alone (not including dental or life insurance) is currently $204 per month. -Agents are often told by management that the company is a 'full-service financial institution.' In my opinion, this is untrue. 85% of the company's business sold is life insurance. Having so little to market to potential clients can really limit you as an agent.