NEW YORK LIFE INSURANCE COMPANY

Terrible company to buy insurance from. My wife and I were misrepresented from the start. We were sold a Universal Whole Life policy that supposedly I could never outlive. We were lied to. The policy is currently out of money and ready to lapse, even if I tripled the monthly payments. We receive statements all the time, but nothing telling us that it was out of money. Then all of a sudden, Bang! We get a lapse notice. How is this possible? It is possible because when they sold the policy to me I was only 63. Now I am 76 and still going strong. They don't want to insure me anymore for that large amount, even though their agent said I could never outlive the policy. They might give me a $50,000 policy for hundreds of dollars a month, but I had a $200,000 policy. We have also been told many different things from New York Life agents and representatives. We took names down and now we need a lawyer!

Review: I am the court-appointed legal guardian for my dear mother. She was deemed legally incompetent in 2012 due to experiencing side effects from her diagnosis of [redacted] ([redacted]), which is a terminal form of early-onset [redacted] and resembles [redacted] Disease in its manifestation. My beloved father took out a life insurance policy for my mother in 2012 with New York Life's [redacted] Life Insurance Program. With my father's heartbreaking death on March * of this year, I took over my mother's financial affairs. I was advised by her Medical Assistance social worker to turn her life insurance policy into an irrevocable burial trust with a funeral home. The reason for this was to prevent the policy from being regarded as an asset and, thus, jeopardizing my mother's health care. It would also ensure that her funeral expenses were covered at the appropriate time.

I contacted [redacted] days after my father's death to make this change to my mother's account. With the first phone call, I was told to fax the legal guardianship papers to them, along with my father's death certificate. This was simply to allow them to speak to me. I faxed these documents to the provided fax number and was notified that my facsimile was successfully sent. On its cover page, I asked that a representative contact me to help facilitate my request to turn my mother's policy into a burial trust.

However, no one called. This was the mere beginning. I called a week later and was told that they never received the fax and to try again. They would not provide me with an email, but encouraged me to simply try it again. Therefore, I made a second attempt. Again, I received notification that my fax transaction was successful.

I called again to let them know and was told that they had not yet received the fax as it takes 24-48 hours to retrieve a facsimile, and enter/process the data. Interesting. They also could not call me back. I just had to keep calling them to check whether or not they received the fax. During the next call, I reiterated my request to turn my mother's life insurance policy into an irrevocable burial trust with a funeral home and the representative told me that this could not be done. The closest thing that could be done was a collateral reassignment. I was told this was basically the same thing. The representative said that this form was sent (to my father's previous office address). This representative also said that I would have to acquire Power of Attorney status. When I explained that I was my mother's court-appointed legal guardian - a status that supersedes POA - and that POA could not be acquired given my mother's status as a dependent, the representative simply repeated I would have to acquire POA. She was very unhelpful and I was feeling quite overwhelmed with other issues relating to my father's death and mother's care so I simply ended the call and waited for the Collateral Reassignment form to be sent.

I never received the form. And I never received any notice about whether they ever received my fax. So I again called the general number and again had to explain the entire situation and my request to turn my mother's life insurance policy into an irrevocable burial trust with a funeral home. The representative I spoke with on this encounter told me to wait as the fax had not yet been entered into the system. I asked to speak with his manager and he left for a short time to retrieve his supervisor but...returned to say that I could not speak with his supervisor and to simply call back to check on the status of whether they received the fax.

In short, I was not allowed to speak with a supervisor. Later, I spoke with a supervisor who said he would follow up with me so I would not have to repeatedly explain my story and my request. This supervisor never followed up with me.

I called the general number again and asked for a physical address to which I could send certified mail. While they continuously insisted upon the method of "faxing," and would not provide me with an email address, I decided to send the documents certified. The representative provided me with a post office box address. I explained the point of certified mail and the representative again provided me with a PO Box address.

I continued to call the general number and finally a representative told me that I had achieved "POA Status". This was simply an inaccurate title but it fit within the [redacted] system of language. I thus could speak about my mother's policy with [redacted], and act on her behalf. Mail was at this time rerouted to my address and not to my father's former office which resides in another town. Yet, I did not feel any closer to achieving my goal of setting up an irrevocable burial trust for my mother.

Eventually, I lost my patience and, upon the advice of a resource center, I found the physical address of a local ([redacted], [redacted]) [redacted] office. I went to this office and was told that they did not sell "product" (aka life insurance etc), but the office manager would likely be happy to help advocate on my behalf as many unhappy [redacted] customers marched into this particular office and [redacted] did her best to help expedite the process.

I did have a very pleasant conversation with this office manager who did follow through with making calls for me on my behalf. She stated that the life insurance portion of the company did seem to make things as difficult as possible for customers.

I was then called by a very nice NYL [redacted] representative who apologized about the situation and stated that what I needed to do was complete the Collateral Reassignment form with the funeral home and complete the ownership change form with the funeral home. Once these two forms were completed, my goal of changing my mother's life insurance policy into a burial trust would be achieved. This representative also set up my mother's life insurance payments as an automatic debit from my account.

Around this time (early April) I received four copies of the Collateral Reassignment form in the mail. Yet, I felt that forward movement was taking place. Awkward, inefficient, erratic movement but, yet, it was moving in the general direction desired. I also received a copy of the automatic debit payment withdrawal change, which I then changed to be taken from my mother's guardianship account and not my own personal account.

Again, I felt things were close to resolution. I made the trip to Baraboo to meet with the funeral home director and we completed the Collateral Reassignment form and the Ownership Change form. Upon his advice, I first sent in the Collateral Reassignment form to see whether they received and processed this data successfully. This involved two additional calls to sales representatives. The second call verified that this change had been made. In short, the funeral home was now the sole beneficiary instead of me. I do note that "collateral reassignment" is not a change in beneficiary...rather, the state will take anything that is "left over" from the funeral due to my mother's MA. Regardless, within the rigid system of NYL [redacted] Life Insurance, I felt it to be the "best case scenario".

After the collateral reassignment had been confirmed, I mailed the Ownership Change form, which would transfer ownership from my mother, who I represent, to the funeral home. According to the most helpful, friendly, and supportive agent, this would complete the process. These were the two steps [redacted] needed in order to create a burial trust with a funeral home.

About two weeks passed, and I called to "confirm" that this burial trust had truly been set up. Their automated system which a customer cannot bypass could not understand me and I had to try four times to access a human being. Finally, I did speak with an agent who told me that the burial trust had not been set up as I needed to complete some sort of funeral process form. When I stated that I had been told that all I needed to do was complete the Collateral Reassignment and Ownership Change forms, she disagreed and said there were additional steps to complete. I asked whether anyone would have bothered to call to tell me this and she said that the form that needed to be completed next had been mailed to me three days previous. It would take 7-10 days to arrive.

I simply hung up on her. It is now April **, 2015. I started this process on May **, 2015. The fact that I still have not managed to turn my mother's life insurance policy into an irrevocable burial trust with a funeral home by this point...almost two months later...is simply unethical and demonstrates the absolute worst customer service experience I have ever witnessed.

I do not know what less tenacious and less informed individuals would do in this case. It seems as if [redacted] Life Insurance is designed to make their customers "give up". Given that their marketing efforts focus on seniors, I theorize that their systematic maze of customer service is by design. Therefore, it is highly unprofessional and unethical.Desired Settlement: I would like to change my mother's life insurance policy into an irrevocable burial trust with the appointed funeral home. As her legal guardian ([redacted] language: POA), I should be able to make this change. Specifically, I would like one [redacted] agent to follow up with me, provide me with their direct line, and ensure that this request will be completed and confirmed.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: AARP Life Insurance Program will not remove us from their mailing list

I have been attempting to get AARP Life Insurance Program to stop sending us mail for almost a year, but we continue to receive mail from them. Our mail is forwarded from our USA mailing address to a foreign country, and each piece of mail they have sent incurs additional fees for us.

I first contacted AARP, but after more than one attempt they told me to contact this program via [redacted]. I sent an email via that website on 1/**/14, requesting that mail be stopped to our USA address. But we received mail from them again today.

We need them to stop sending us any mail.Desired Settlement: Stop sending us mail and provide verification that we have been removed from their mailing list.

Consumer

Response:

This appears to be a duplicate file for this complaint. See ID [redacted].

My complaint, ID [redacted] regarding New York Life - Compliance Department has been resolved and the related case has been closed.

Sincerely,

If you have a distribution due on a certain date and that date falls on a weekend then your distribution will always be paid late, after the due date. Other companies I deal with pay distributions at 12:01 AM electronically or on the last business day prior to a weekend or a holiday.

Review: New york life is supposed to protect their clients money and know how much the person has, anyway with saying this New york life send out incorrect benefits letter to me and to the company who I sold to, at the time I am knowing that I am selling a portion of my payments because new york life gave me the benefits letter, only to find out 2 years later from new york life that they had a error and now they want me to pay for their mistakes because they send me a incorrect benefits letter, My payments are suppose to last up until 2034 but they said that they are going to garnish my payments, all on the behalf of they send out the wrong benefits letter! They have been holding my money since January, I've done lost my car, my cellphone, Barely making ends meet, Hardly can pay my rent, can not really provide for my kids at this time and very much depressed. To learn that this company is supposed to be professional and turns out that they made a mistake and then they want me to take the lost for it, If they would have never made another company my servicing company without my signature, they would know have known exactly how much I had at the time instead of sending me and the other company the wrong benefits letters. New york life needs to take responsibility for their own actions. I am very much depressed all the time, not being able to provide for my kids! But this company is supposed to be honest and keep track of things.Desired Settlement: Pay for their own mistake!

Business

Response:

Dear [redacted]:

New York Life Insurance Company ("NY Life") is in receipt of your correspondence dated June **, 2013. As requested, NY Life is hereby responding to the June **, 2013 correspondence and customer complaint ID [redacted] (the "Complaint") filed by [redacted] ("[redacted]").

[redacted] is now receiving payments directly from NY Life and her allegations in the Complaint are now moot.

This response incorporates below the April **, 2013 response of NY Life to complaint ID [redacted] filed by [redacted] in April 2013 and elaborates further in response to the Complaint.

April **, 2013 Response Correspondence:

In short, in or around 2000, [redacted], by her mother, [redacted], entered into a written structured settlement agreement (the "Settlement Agreement") to resolve a personal injury action. The Settlement Agreement provided for the disbursal of certain periodic payments (the "Periodic Payments") to [redacted]. Pursuant to a "qualified assignment" agreement, New York Life Insurance and Annuity Corporation ("NYLIAC") was assigned the obligation to make the Periodic Payments. NYLIAC purchased from NY Life annuity no. [redacted] (the "Annuity"), which is owned by NYLIAC, to fund the obligation to make the Periodic Payments. [redacted] subsequently entered into eight transactions to assign various portions of the Periodic Payments to various companies. Further, for a period of time, the Periodic Payments were garnished to satisfy an ongoing child support obligation. Based on the complexity of the various transactions, child support garnishment, and annual increase in the monthly Periodic Payments, a servicing arrangement was in place for a period of time, wherein, Settlement Funding, LLC ("Settlement Funding") would remit any unassigned portion of the Periodic Payments to [redacted].

As the result of a recent audit, it has been discovered that to date, [redacted] has received from NY Life $3,562.08 in excess of what is thus far due and owing under the Settlement Agreement and related Annuity (the "Overpayment") and that [redacted] has purported to assign to Client First Settlement Funding, LLC, Vicia, LLC, and Lolcus, LLC portions of Periodic Payments due under the Settlement Agreement and the related Annuity that she had previously sold to Settlement Funding. NY Life, through counsel, has discussed this issue with [redacted], and is in the process of finalizing an agreement with [redacted] to repay the Overpayment in a payment plan, with a portion of each monthly Periodic Payment to be withheld by NY Life until the Overpayment is repaid in full.

In addition, NY Life has ceased forwarding to Settlement Funding any portion of the Periodic Payments in excess of the amounts assigned to Settlement Funding and approved by court order. Any funds to be paid to [redacted] in the future will be paid by NY Life directly.

A copy of the April **, 2013 Correspondence is attached for your reference.

Through counsel, NY Life attempted to negotiate a resolution and settlement of the Overpayment with [redacted]. After weeks of negotiation, [redacted] advised that she would not agree to repayment of the Overpayment or sign any settlement agreement resolving the Overpayment.

NY Life ultimately released payments to [redacted], despite her refusal to repay the Overpayment. Enclosed for your reference is a copy of the check for the June 2013 monthly Periodic Payment, which was negotiated by [redacted] on July *, 2013. The check for the July 2013 Periodic Payment is still outstanding and has not been negotiated by [redacted] to date.

Factoring transactions, such as the eight [redacted] decided to enter into with various companies, create increased administrative burdens, costs, and other risks for NY Life, and increase NY Life's exposure to liability. Further, the various factoring transactions entered into by [redacted] each assigned only portions of larger payments. This results in an administrative nightmare for NY Life, as the monthly Periodic Payments increase annually by 3% and inconsistent portions have been transferred to various companies in eight different transactions.

As a result of the continually increasing number of factoring transactions and transfer requests received by NY Life, it has been forced to re-allocate staff, and hire additional personnel to review, analyze, evaluate, and process these transactions. These risks and expenses were neither bargained for nor included in calculating the amount of [redacted]' structured settlement. Indeed, anti-assignment language was included in the settlement documents, and that language was clearly intended to preclude such assignments and transactions and ensure that costs and expenses were fixed and the settlement properly valued. The possibility of an assignment, let alone eight assignments, would have required NY Life to lower the settlement valuation in order to offset the increased administrative burdens and expenses. [redacted] desires NY Life to pay for the mistake she made of entering into eight transactions for payments that overlapped.

However, [redacted] is well aware of the terms of the settlement and the amount of the payments due to her. She entered into transactions to assign and sell payment rights which were not available and accepted payments to which she was not entitled. [redacted] is now receiving the portion of the Periodic Payments she did not assign directly from NY Life and her allegations in the Complaint are now moot.

Please do not hesitate to contact me directly with any questions.

Sincerely,

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

[Your Answer Here] not only will they take responsibility for their mistake, but they also mis lead me, by incorrect benefits letter, they are entitled to making sure they keep track of the person funds. In order for me to do a transaction with any company, that company would have to go thourgh new york life and that is when new york life sends the benefit letters, so if they send me the wrong benefits letter over and over, they are not only responsible but reliable. As far as new york life claims of a overpayment, I have never seen it, so instead of them sending my money to someone else to send to me without my signature, the company settlement funding must have recieved it. I also contacted new york life insurance company lawyer, [redacted] on 4/**/2013 and asked her for copies of payments and where they were sent to from 2010 to 2013 so that I could see where the overpayment is and no response, fax did go thourgh to her. I am supposed to recieve payments up into 2034 but this other company which is client first, told me because of new york life error of the benefits letter and their aknowledgement letter stating that new york life would pay them, but in fact new york life knows that they are in error, new york life wants me to just give up the rest of payments to cover their mistake that they made with this company, due to the fact that they stopped my monthly checks in january, I had to sell my car and now me and my 3 year old son are taking public transportation, I did not make a agreement with anyone, I am the middle woman, new york life send to me and this other company the wrong benefits letter so now new york life insurance wants to get out of the picture, New york life own up to your own errors and pay for your own mistakes, my monthly checks are for me and my children.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

Dear [redacted]:

New York Life Insurance Company ("NY Life") is in receipt of your correspondence dated July **, 2013. As requested, NY Life is hereby responding to the July **, 2013 correspondence and customer complaint ID [redacted] (the "Complaint") filed by [redacted] ("[redacted]").

[redacted] is now receiving payments directly from NY Life and her allegations in the Complaint are now moot.

This response incorporates below the April **, 2013 response of NY Life to complaint ID [redacted] filed by [redacted] in April 2013 and elaborates further in response to the

Complaint and by way of further update to NY Life's response to you correspondence dated June *, 2013.

April **, 2013 Response Correspondence:

In short, in or around 2000, [redacted], by her mother, [redacted], entered into' a written structured settlement agreement (the "Settlement Agreement") to resolve a personal injury action. The Settlement Agreement provided for the disbursal of certain periodic payments (the "Periodic Payments") to [redacted]. Pursuant to a "qualified assignment" agreement, New York Life Insurance and Annuity Corporation ("NYLIAC") was assigned the obligation to make the Periodic Payments. NYLIAC purchased from NY Life annuity no. [redacted] (the "Annuity"), which is owned by NYLIAC, to fund the obligation to make the Periodic Payments. [redacted] subsequently entered into eight transactions,. to assign various portions of the Periodic Payments to various

Companies. Further, for a period of time, the Periodic Payments were garnished to satisfy an ongoing child support obligation. Based on the complexity of the various transactions, child support garnishment, and annual increase in the monthly Periodic Payments, a servicing arrangement was in place for a period of time, wherein, Settlement Funding, LLC ("Settlement Funding") would remit any unassigned portion of the Periodic Payments to [redacted].

As the result of a recent audit, it has been discovered that to date, [redacted] has received from NY Life $3,562.08 in excess of what is thus far due and owing under the Settlement Agreement and related Annuity (the "Overpayment") and that [redacted] has purported to assign to Client First Settlement Funding, LLC, Vicia, LLC, and Lolcus, LLC portions of Periodic Payments due under the Settlement Agreement and the related Annuity that she had previously sold to Settlement Funding. NY Life, through counsel, has discussed this issue with Mr. Bridges, and is in the process of finalizing an agreement with [redacted] to repay the Overpayment in a payment plan, with a portion of each monthly Periodic Payment to be withheld by NY Life until the Overpayment is repaid in full.

In addition, NY Life has ceased forwarding to Settlement Funding any portion of the Periodic Payments in excess of the amounts assigned to Settlement Funding and approved by court order. Any funds to be paid to [redacted] in the future will be paid by NY Life directly.

A copy of the April **, 2013 Correspondence is attached for your reference.

Through counsel, NY Life attempted to negotiate a resolution and settlement of the Overpayment with [redacted]. After weeks of negotiation, [redacted] advised that she would not agree to repayment of the Overpayment or sign any settlement agreement resolving the Overpayment.

NY Life ultimately released payments to [redacted], despite her refusal to repay the Overpayment. Enclosed for your reference are copies of the checks for the June 2013 and July 2013 monthly Periodic Payments, which have been negotiated by [redacted]. The check for the August 2013 payment, which is due on August **, 2013, will be issued to [redacted] shortly.

Factoring transactions, such as the eight [redacted] decided to enter into with various companies, create increased administrative burdens, costs, and other risks for NY Life, and increase NY Life's exposure to liability. Further, the various factoring transactions entered into by [redacted] each assigned only portions of larger payments. This has resulted in an administrative nightmare for NY Life, as the monthly Periodic Payments increase annually by 3% and inconsistent portions have been transferred to various companies in eight different transactions.

As a result of the continually increasing number of factoring transactions and transfer requests received by NY Life, it has been forced to re-allocate staff, and hire additional personnel to review, analyze, evaluate, and process these transactions. These risks and expenses were neither bargained for nor included in calculating the amount of [redacted]' structured settlement. Indeed, anti-assignment language was included in the settlement documents, and that language was clearly intended to preclude such assignments and transactions and ensure that costs and expenses were fixed and the settlement properly valued. The possibility of an assignment, let alone eight assignments, would have required NY Life to lower the settlement valuation in order to offset the increased administrative burdens and expenses.

[redacted] desires NY Life to pay for the mistake she made of entering into eight transactions for payments that overlapped. However, [redacted] is well aware of the terms of the settlement and the amount of the payments due to her. She entered into transactions to assign and sell payment rights which were not available - in exchange for which she received lump sum payments from the factoring companies with whom she entered into those transactions - - and otherwise accepted payments to which she was not entitled. [redacted] is now receiving the portion of the Periodic Payments she did not assign directly from NY Life and her allegations in the Complaint are now moot.

Please do not hesitate to contact me directly with any questions.

Review: I let my Life Insurance lapse because I wasn't good at organizing my mail. Bathos happened in June. I got a Jne*,2013 notice.

I asked my daughter to help me get my mail and bills in order. She called AARP a total of FOUR times and each time they promised to send my reinstatement form to my PO Box. We have NO problems getting mail at my PO Box. She called July **,2013 and [redacted] said he would mail it; she called August **,2013 and [redacted] said she mailed it; she called September **,2013 and [redacted] said she mailed it and on October *,2013 she called and [redacted]s supervisor said she would mail it and call us back in 5 days! Nothing has happened! I tried reapplying forLife a insurance and discovered that because I am 76 I am no longer eligible based on my age! So have I lost all of the money I paid to AARP?Desired Settlement: If I cannot have my insurance reinstated with dependable employees with integrity - I want every dime back that I have given AARP. I am very disappointed in them and will promote this failure of them in every outlet I know of!

Business

Response:

Dear [redacted]:

I am writing in response to the complaint received from your office concerning [redacted] and the AARP Life Insurance Program from New York Life.

AARP Permanent Life Certificate [redacted] was issued effective December **, 1994, for a coverage amount of $10,000 at [redacted]' age of 57. Premiums were paid to April **, 2013, when coverage lapsed.

We have reviewed the concerns expressed by [redacted] and recognize that she did not intentionally allow the life insurance coverage to lapse. Because [redacted] has been insured with New York Life for many years, as an exception we have agreed to reinstate the life insurance coverage pending payment of the past due premiums.

We called [redacted] and informed her of our decision. Once [redacted] submits the premium payments, we will reinstate her life insurance.

If you have any questions or need further assistance please let me know.

Review: AARP advertised life insurance. I called. New York Life Insurance answered and refused to sell me the insurance as advertised.

The AARP add in the AARP magazine, said no questions asked, term life, for the elderly. When I called the number I was told that a $15,000 term life insurance policy at my age of ** would cost me $62.28 per month for a 10 year policy. Then they started asking questions. When they found out I was 2 days away from my birthday, they refused to sell me the policy. They said that they would have to send me an information packet. I asked them how much the policy would cost me if I was ** years old instead of **. They said it would be $105.00 per month. I told them that I didn't want to wait for the information packet because the delay would cost me the difference between $62.28 and $105.00 per month ($42.72) per month difference. They gave me a phone number to call to enable me to purchase the policy immediately. The number was for New York Life Insurance Company. The asked me questions about my health and turned me down. I went back to the web AARP add location and tried again. This time when my birthdate was revealed they refused to sell me the $15,000 term life policy for $62.28 per month, and would only send me the information packet. This will delay my purchase, so that it will cost me $105.00 per month instead of $62.28. I was attempting to purchase the policy for the age ** years price and they refused because by delaying it 2 days, they would make more money. They should have to sell the policy as it was listed without playing dirty to make a little more money.Desired Settlement: I would like the $15,000, 10 year term life policy, for $62.28 per month. This is the price for a ** year old, (my age when I requested the policy) Thank You, [redacted]

Business

Response:

Dear [redacted]:

I am writing in response to 1he complaint received from your office concerning [redacted] and the AARP Life Insurance Program from New York Life. This is a direct response group life insurance program marketed through the mail.

In [redacted]'s complaint, he referenced an advertisement for our AARP Guaranteed Acceptance Life plan of insurance. This is a permanent plan with higher premiums than our term insurance plan. With AARP Guaranteed Acceptance Life there are no health questions and coverage approval is guaranteed. Because approval is guaranteed, AARP Guaranteed Acceptance Life has a limited death benefit payment in the first two years if death occurs from other than accidental causes. After the first two years, 1he full benefit is paid regardless of the cause of death.

Although [redacted] saw an advertisement for AARP Guaranteed Acceptance Life, the product he described is our AARP Level Benefit Term plan of insurance. AARP Level Benefit Term Life, is a distinctly different plan of insurance than our guaranteed issue coverage. Coverage eligibility for AARP Level Benefit Term Life is based on the applicant's answers to three health questions. Approval is not guaranteed and the maximum issue age for this term product is **. Premiums increase at age ** and coverage ends at age **.

We do not have an on-line or telephone application available for [redacted] residents. This is why [redacted] was not able to complete an application. It was not because he was 2 days from turning age **.

If you have any questions or need further assistance please let me know.

Sincerely,

Corporate Vice President, New York Life

Review: New York Life has failed at multiple requests to cancel my wife and I's policy.

I have had an insurance policy with New York life since approximately December of 2010 as has my wife. My policy number is [redacted] and her policy number is [redacted]. We have paid our monthly premium, to include life insurance as well as retirement saving. We have been set up for automatic payment the entire time our account was set up. We have had one previous issue in which I attempted to lower the amount I was paying per month. It took 4 months from the time I requested the change (in approximately June of 2011) to complete the change, and I was charged the incorrect amount each month between then and approximately September of 2011. This issue was resolved, but I was not refunded the amount for the incorrect payment aside from one month. The current issue at hand is our request for cancelation of the policy. On May [redacted] my wife sent an email to our agent requesting that our service be cancelled. Our agent and New York life state that they sent the paperwork to us to cancel, however it was never received. On July [redacted] I contacted my agent via text message and phone to cancel, which he responded that it would, but that we would need to fill out paperwork to have it cancelled. This was on 7/**. I was quoted the amounts of 3850.50 and 4368.39 in my wife's account. I was out of town at the time, and stated I was unable to arrange a meeting that day. I got follow up stating that my agent was in the office that day, but did not hear about it again. I have received two invoices now that are showing my wife and I are continually being charged the monthly amounts of 189.98 and 156.51 for the months of July, August and now September after these amounts were continually taken out in May and June after our request to have them cancelled. I have contacted my agent, his [redacted] and the 800 customer service number. My agent says it should be taken care of, his [redacted] never returned my call and the 800 number tells me that my paperwork will now need to be faxed to me and back to them. It is unacceptable that I have now been "charged" for 5 months of a service that I no longer want, or need.

ADDITIONAL DETAILS:

Case is being handled by another organization: [redacted]Desired Settlement: I wish to have the amount credited to my checking accounts that were quoted, 3850.50 for myself and 4386.39 for my wife, plus the amounts charged for May and June if these are not included. I also should not be responsible for the 3 months of charge in the amounts of 156.51 for myself and 189.98 for my wife, as these services were requested to be cancelled. After reading online reviews of New York Life, this seems like it is a pattern.

Business

Response:

Dear [redacted],

Please find a copy of our response to Complaint ID Number [redacted]. Please contact me directly if you have any questions or concerns.

Thank you very much,

My mom bought the NY Life Insurance w/ AARP for what the future might be & to help her only adult daughter (me) when she did pass from working a very low wage job with many hours and maintaining good health as a [redacted]r Survivor with loads of determination!! She bought their plan & paid regularly. After getting ill, going into the hospital--she then died suddenly. I immediately contacted this company with her info. and I learned that my poor Mom got "T_A_K_E_N" by these vandals that call themselves "INSURANCE"!!!

All they were suppose to send was $6,000.00 & they REFUSED to follow-thru with what they "promised" & write a check for ONLY $6,000!!! (I thought they are such a BIG company instead of a BIG SCAM!!!) Anyway, I never got it & now wonder WHY they still have a business open or HOW they can keep doing this [redacted]?!?

At this point--my advice to those of you shopping for Life Insurance--IGNORE "AARP/ N. Y. Life Insurance" and shop consumer stats!! 'AARP/N.Y. LIFE INS.' isn't the what they advertise at all!!!

Review: I have been trying to remove myself from unwanted mailing lists. I have been trying for weeks to remove myself from NYL advertising and mailing list, but they do not provide a way -- either by phone or on the website -- to remove myself from unwanted advertising. Their customer service has told me there is no way to do so. I have spoken with multiple agents with this response.I get [redacted] mail from New York Life every day. I am not a customer, have never been a customer, and never will be a customer. As a consumer, I should have the option to be removed from junk mail lists.Desired Settlement: I want to be in contact with people who will remove my information from the NYL database, and I would like NYL to provide clear information for people who do not wish to be on their mailing list as to how they can be removed.

Business

Response:

The company has added the consumer's name to our do not call/contact registry.

Review: Without my authorization the company took additional charges from my bank account. and without send me a letter.. contract#[redacted],policy#[redacted],date of insurance 11/**/2006.I know that every 5 years they were going to raise the insurance, but they never told how much?..and now that I canceled because I can not pay what they want, they do not want to give me back not even a penny..I do not think it's fair that after giving nearly $ 16,000.00 doll. I do not have any right to get some of my money.these titles are thieves who take advantage of the elderly seniors.. first they star with $190.84 and now they want to star taking $292.09 something does not seem fair to me.Desired Settlement: I hope they return me at least some of the money I gave them.

Business

Response:

Dear [redacted]:

I am writing in response to the complaint received from your office concerning [redacted] and the AARP Life Insurance Program from New York Life.

AARP Level Benefit Term Life Certificate [redacted] was issued effective November **, 2006, for a coverage amount of $50,000 at [redacted]'s age of 64. A $50,000 Term Rider was added effective November **, 2010.

Since premiums are scheduled to increase at five-year age bands, [redacted] was scheduled for a premium increase at her age 70 Certificate anniversary on November **, 2012. Premiums were being paid through automatic monthly withdrawals in the amount of $292.09 and were paid to May **, 2013, when coverage lapsed.

For your convenient reference, I am enclosing a sample of the AARP Level Benefit Term advertising material and a sample of the Certificate [redacted] received.

The advertising material [redacted] received prior to her application explained the increasing premium provision. On the Rate Chart page, in addition to the premium rates, we include the following information, "Premiums above are the rates New York Life currently charges. Your initial premium is based on your age at issue; premiums increase as you enter each new five­ year age band." The "Benefits Won't Decrease" section states, "Premiums are arranged in five-year age bands and will increase as you enter each band."

On the face page of the Certificate, we display under the plan description "(To Age 80 With Increasing Premiums)", and displayed on the bottom of the page is "Premium will increase in five year age bands. See premium on important Notice Page". In the Certificate's "Premium" section, we further explain that premiums increase at five-year age bands.

Our records indicate that a notice was mailed to [redacted] informing her that the premiums being automatically withdrawn from her account will be increasing. However, in view of [redacted]'s statement that she did not receive the notice, we are agreeing to refund the six monthly premiums from November to May for a total of $1,752.54. A check for that amount will be sent to [redacted] shortly.

If you have any questions or need further assistance please let me know.

Sincerely,

Review: I have paid $2566.50 total in premiums for my whole life policies since April 2012, one is policy# [redacted], face value $50,000 issued in April 2012 for $39.00 monthly and the other is policy# [redacted], face value $325,000 and was issued in December 2012 for $211.50. I took out these policies in order to earn cash and setup a tax deferred source of retirement revenue. I am unable to continue paying the premiums and when I contacted New York Life customer service about surrendering the policies, I was told there were no cash values in either. My issue is that I have been paying a large amount of money into these policies and am told that there is no attained cash and that I cannot receive any return of premium. I feel that the company mislead me on the benefits of this product and after being told that cash value would begin throughout the life of the policy, I am now told that it takes three years to begin building value and five to exceed premiums paid. All I want is for my premiums to be returned due to the fact that I would never had purchased this product if I was made aware of this.Desired Settlement: I want my total premiums paid of $2566.50 reimbursed.

Business

Response:

A letter was mailed to the policyowner stating that in order to complete our review of her concerns, [redacted] is requesting copies of the illustrations she received from her agent.

Review: I have sent in paperwork requesting to receive a lump sum benefit from my retirement. I had called on 9/**/14 to inquire if my paperwork had been received, I was told yes it had been and would be processed in the middle of the month and should be mailed any day. I called again on 9/**/14 to be updated on the progress and was then informed it could not be mailed until the middle of December-Desired Settlement: I want my lump sum benefit mailed to me immediately - I see no reason whatsoever for this delay.

Business

Response:

New York Life retirement Plan Services (NYL) sent the Lump Sum Distribution Form on 07/**/2014.

The forms were returned on 08/**/2014 as incomplete (no form of payment elected)

A denial letter was sent the same day (08/**/2014)

A 2nd set of forms was received on **/**/2014

The forms were processed that day (**/**/2014)

On 9/** the participant was incorrectly advised that the distribution would not take place until December. However, on 9/** the participant called in to our service center and was advised that the distribution will actually take place on October *, 2014. The participant seemed satisfied with that time frame

Review: I received life insurance information in the mail for New York Life which I did not request. I do not know how they got my address. I do not want to be on they're mailing list for any reason.Desired Settlement: I wanted to my information ( name and address) removed from they're mailing list ASAP. I do not want to receive any information from this company ever again.

Business

Response:

[redacted]

Dispute Resolution Services

ID# [redacted]

Customer Name: [redacted]

Complaint Information: Customer complained about receiving life insurance information in the mail from New York Life, which she did not request and stated that she did not want to be on our mailing list.

Resolution: We have placed Tia Lowray on our Do not Mail and Do Not Contact lists as per her request

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: I purchased a $10,000.00 whole life insurance policy and in December 2013 I called to get my policy information and was told that I did not have a life insurance policy with New York Life, but New York Life has been doing ACH to my checking account in the amount of $26.33 per month for July **, 2013 thru December **, 2013.

I was told that New York Life could not stop the ACH deductions monthly until they found out where my policy is ?

New York Life has not been helpful or trying to stop taking my money when I do not have a policy with them ?Desired Settlement: Refund of the money New York Life deducted from my checking account and to stop deducting payments to my account immeadiately.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

My husband had a New York Life Policy for almost 50 years. I went down to the Agency and I was told he was with a Client, so I left the Policy and the Death Certificate, He came out to my house and proceeded to tell me that he had paperwork for me to sign and he was irate that I had left there? I said well, you were busy, so I came home, He said I have some documents for you to sign, I said ok, So I signed the documents, I ask why $10,000 over a period of 50 yrs hadn't created more dividends and interest since we never took any of that out? He said well $10,000 doesn't create much? I said I thought it would have crated more than $4000. He said well it didn't. Ok, So he was condescending to me and he said we are just trying to help you and I said no, you really aren't He said well you don't have to be nasty about it and I said you know I don't really care what you think at this point in time. So he left here and slammed the door,

Review: We'll I work for Orleans parish sheriff office this insurance guy by the name of [redacted] comes to the sheriffs department selling whole life insurance through the job for a percentage of the cost that it would be as a perk throughout he department I work for. 1 st thing he those is talk to us about what we can purchase and how much we sign up to receive a package about the insurance once that happens he says he will be back in a couple of weeks three weeks to the most and show us more information by this point he already have signed you up for insurance and is having it taken out of your check by payroll deduction. I have for the last year been having these premiums taken out of my check have never received any formation about the policy I never signed up for. I asked for a refund of my money on two occasions and have yet to receive. I have to call and cancel the policy but he's has not even tried to adhere to my orders. Plus I'm not the only one he has done this too.Desired Settlement: All the money I have put into the policy.

Consumer

Response:

At this time, I have been contacted directly by New York Life Insurance Company regarding complaint ID [redacted], however my complaint has NOT been resolved because:

they sent a letter in the mail responding sayiny that they would look into my compliant and try to resolve in 30 days. the letter was sent about two weeks ago.

Sincerely,

Business

Response:

Dear [redacted].

Attached is a response to your Request dated October **, 2013. This response was also mailed to the complainant, [redacted]. We hope to resolve this matter with her in the near future. Please contact me at [redacted] if you have any additional questions or concerns.

Thank you very much,

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved. If I do not recieve a check from them or hear from them thru my response accepting the offer I will contact you back.

Sincerely,

Review: New York Life Insurance CO. dropped my state tax off my existing annuities ,over a million dollars worth without ever notifying me for 2016. My disbursement dollars changed on each of the seven annuities with no explanation. Instruction with each annuity was to take out state tax out, with no warning they just stopped taking out state tax. This will become a huge problem at the end of the year when they find out there will be tax penalties due to a shortage of state tax being taken out due to New York Life dropping state tax and not notifying the annuity holders.Desired Settlement: I want to know how the insurance, New York Life can just drop state tax withholding when it is part of an existing contractual annuity document and not inform you . This will create a big problem for those not being notified at the end of the year with state tax penalties for not taking out enough state tax,. how can they do this??

Business

Response:

Dear Sir or Madam:I am writing in response to your January 25, 2016 letter concerning the tax withholding election and contractual provisions of Mr. Me [redacted] investments with New York Life. Thank you for your patience while this matter was reviewed.The State of Arizona recently updated their withholding rules for income annuities. Beginning January 1, 2016, we are only to withhold State tax if a Form A-4P is completed and submitted by the policy owner. If no Form A-4P is submitted, there should be no State withholding on income annuity products. This change is only applicable to new contract issues. Income annuities issued prior to January 1, 2016 are exempt from this rule and may continue the prior withholding election.In this case,the tax withholding election for Mr.[redacted] January 2016 was interrupted in error. We have communicated directly with Mr. [redacted]egarding the processing error, including adjustments to the Form 1099R reporting for the 2016 tax year. Mr. [redacted] has in turn communicated via email that the company has satisfactorily addressed his concerns.Additionally, we are conducting a thorough review of the company's income annuity contracts having a State of Arizona situs to ensure this incident is not repeated.I trust this information is helpful in clarifying the company's position in this matter. Please do not hesitate to contact me directly if there is anything else we can do to assist your office.