Anybody out there work for New York Life?

[LisaC]

After recieving feedback and advice I have decided not to go with Bankers Life and Casualty and am now looking into New York Life Texas Is there anybody out there currently working for them, or who worked for them in the past? I am interested in all information, training, commissions, length of time agents work with them, how many hours should I expect to put in (daily) etc. Thanks in advance.

 

[arnguy]

LisaC, contact NHB_MMA by email or private mail. He is a member of this forum who signed on with NY Life a few months ago.

 

[Cenla Agent]

NY Life is a good company. Top ratings, and it is said that their training is the best. Their managers are solely responsible for training and recruiting and do not sell personally, so they are invested in your success. Generally they have been known to focus on more higher income clients, but I don't know if that's as much the case now as then. I think they expect you to have your Series 6 by the end of the first year. I have interviewed with them several times and have been impressed every time with their professionalism. I have noticed that they have begun to do some more advertising lately, mostly focused on annuities from what I've seen and heard.

You could get a lot of those questions answered by contacting the closest NYL agency.

 

[mmb98]

I've been with NYL for almost 6 yrs now. Feel free to PM me or ask any questions. I really enjoy having a great company behind me.

You can pretty much contract with the carriers that you like (a few restrictions during the first 3 yrs and if you are securities licensed you have to obviously use the products that are available with thier B/D.). They don't allow you to sell equity indexed annuities, but I don't have a problem with this. As for the hours, I think it really depends on the office you are working with. I have never had any set hours. It is my office/agency. If I don't work, I don't make money, so I put in a lot of hours, but so should every new business owner. They do require a minimum annual production requirement to keep a contract with them, but it is minimal (I believe 18K). Their main focus is life, investments (mainly annuities) and LTCi.

 

[LisaC]

Arnguy,
Thanks for the contact!

 

[Winter_123]

Arnguy,
Thanks for the contact!

Lisa, what about MetLife. They have an office there in Portland.

Winter

 

[mmb98]

I posted a response, but i don't see it here so I will post again. I have been with NYL for about 6 yrs now. I'd be happy to answer any questions you may have specifically. One thing I like about NYL is that I can still write with any company I want (they don't allow you to write equity indexed annuities, but I'm fine with it).

 

[senior-advisor-indiana]

Why won't they let you write equity indexed annuities?

 

[mmb98]

All the securities industry scrutiny whether they should be considered securities or fixed products and all the B/D issues involved like supervision, suitability and compliance. Other B/D have also said that their reps can't sell EIAs. They thought about selecting a few EIAs (NYL never had one), but decided it wasn't something they wanted to do. Probably a bit of them not wanted to get involved and potentially taking away from fixed and variable annuity sales.

 

[MIBizInsurance]

Not sure if the old NYL threads are still here but try a search as NYL and Metlife have been discussed a few times.

Real quick-

Your success with NYL with greatly depend on Manager and training. The whole reason to be captive is for the training. As such make sure the following-

How long has the manager been there?

How many of current agents have they hired?

Whats the average tenure of the agents in office?

On and on....

Basically you need to find out if manager is a success?

Metlife- get prepared to sell before your hired and let them terrorize your friends and family...