New York Life Variable Annuity Surrender Form Needed

[AnnuityGuy63]

New york Life is being very difficult in sending a surrender form to my client to get out of his variable annuity.

Does anyone have a NY Life VA Surrender Form they could share?

 

[walthamny]

I have one but likely it is old already. NY life has been pushing that surrender form should be hand delivered by one its agents to preserve assets. I recommend hanging up and calling again and talking to another representative. If you hear the same excuse, you can tell them if they insist on having an agent deliver it, you will file a complaint with Division of Insurance, NY life will likely back off. You can also ask for Covid vaccination status of the agent that is going to hand deliver the surrender form inside their clients home. Interesting that they are pushing eforms but surrender form never makes it to their website. They are not the only one pulling this trick.

 

[scagnt83]

Clear violation of NY Insurance Code if they refuse to send a form by "common means" once a client asks for it to be sent. Have the client ask, if they refuse, speak to a manager and inform them of intent to file a complaint with the NY DOI.

If NYL had better VAs, they wouldnt have to resort to slimeball tactics to preserve assets.

 

[AnnuityGuy63]

Meeting with my client again tomorrow and I will follow your recomendations.

 

[AnnuityGuy63]

They emailed me the form and all done.