Earlier this year (2016) I submitted a letter to New York life to cancel a policy and obtain the cash value. After not receiving the check or a reply for
several weeks I submitted another letter to the manager. They replied saying it would take time for approval and distribution of the check. Finally
received a check which was $400 less that the redemption value and the prorated value of the premium that I had paid 4 months before.
They claimed they never received the original request which delayed the
check and they refused to prorate the premium and then they took their time determining what they figured they owed. Quite a dishonest scam to get an
extra few hundred dollars for one of the largest companies in the country.
Reason of review: Poor customer service.
Monetary Loss: $400.
Preferred solution: I want nothing, just want to let people know who they are dealing with..