Great Company, Tough Job
Like most sales jobs, your pay is based on commision.
There is no base salary
, they provide you with a training allowance for your first 3 years but you must meet a quota to receive it.
How do NY Life agents get paid?
Starting commissions
As a new agent, the first thing to understand is that there is no base salary – the job is
100% commission-based
. Having said that, your compensation is 55% on 1
st
-year premium plans, 6% on expense accounts, increasing to 54% for accounts of $750,000 and up.
Is NY life a good company?
New York Life ranks no. 11 on our Best Life Insurance ranking
. It offers term, whole, universal, and variable universal life insurance policies to its customers.
Does New York Life pay for training?
Excellent benefits package. Agents own their own book of business under New York Life umbrella. Straight commission with training allowance based on commission for first three years.
NO base pay
.
Does New York Life pay a base salary?
Great Company, Tough Job
Like most sales jobs, your pay is based on commision.
There is no base salary
, they provide you with a training allowance for your first 3 years but you must meet a quota to receive it.
Is New York Life All commission only?
It
is a commission only job
, however, and the slow months are hard to bare. It's a very competitive market so great job if you are well connected with the right people.
How much does a financial professional make at New York Life?
New York Life Salary FAQs
The average salary for a Financial Professional is
$45,765 per year
in United States, which is 42% lower than the average New York Life salary of $79,806 per year for this job.
What does a New York Life agent do?
New York life agents are
trained to assess personal needs and objectives
. A simple evaluation can help make sure you and your eligible employees have enough protection in individually owned life insurance, individual long-term care insurance, retirement strategies, and educational funding to meet your financial goals.
What is the best insurance company to work for?
| Rank Company Listing US Employees | 1 Burnham Benefits Insurance Services, LLC 121 | 2 Questpro Consultants 28 | 3 Captive Resources 261 | 4 Worthy Insurance 30 |
|---|
Does New York Life drug test their agents?
No they do not drug test
.
What bank does New York Life use?
New York Life |
Chase Bank
.
Can I withdraw money from my New York life insurance policy?
The amount of money in a permanent policy that accumulates as you pay premiums. You can access it
via loans or partial withdrawals
for a variety of financial needs, like unexpected expenses or to pay for your child's college tuition.
Does New York Life have living benefits?
New York Life Living Benefits Riders can be added to new policies or to most existing policies issued after 1985 for a one-time charge, which is applied when the rider is exercised. However, the policy owner must choose living benefits coverage, but
it can be added at any time
.
Is selling life insurance a good career opportunity?
Is selling life insurance a good career opportunity? For those who like helping people and don't mind hard work, the answer is
yes
. Life insurance agents sell policies and annuities. They work with all kinds of clients and beneficiaries, and most agree that it is a rewarding career.
Does New York Life require a degree?
Requirements: We require highly motivated individuals who are willing to invest their time and energy into creating profitable and rewarding careers. We have a preference for individuals who are bi- or tri-lingual, as well as those with
a 4-year college degree
(not necessarily in business, marketing or insurance).
How much money can you make selling life insurance?
An agent selling one or two policies per week at this commission level could make
$50,000 to $100,000 in
their first year as an agent.
