Group Life Insurance | New York Life Group Benefit Solutions (2022)

Learn how to plan for your family's financialfuture.

It’s not an easy subject to think about, but if something were to happen to you, would your family be able to make ends meet? For how long?

New York Life GroupBenefit Solutions(NYL GBS)helps provide your family with additional financial resources should you pass away prematurely.

Buying coverage through an employer generally offers a level of guaranteed coverage, so there are no medical exams and no medical questions to answer. You may also qualify for additional coverage if you decide to provide proof of good health.

And buying coverage through work means you can pay yourlife insurance premiums through convenient payroll deductions, so there are no checks to write, and there is no forgetting that you authorized a monthly debit of your banking account.

P L A N N I N G R E S O U R C E S

Life Insurance Assessment and Calculator

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NYL GBS Voluntary Term Life insurance

How it works

  • Select a coverage amount and enroll (pending approvalfor any amounts over the guaranteed issue amount).1
  • Once you’ve enrolled, you’re covered for a specificperiod of time, or “term,” as long as you continue to make premium payments.
  • Pay your group insurance premiumsthrough convenient payroll deductions.
  • If you pass away during the term, the beneficiaryor beneficiariesyou designate will receive a payment for a covered claim.

How it helps your family

Payment can be used to:

  • Help pay off a mortgage, cover your family’s ongoing living expenses, or transfer wealth.
  • Cover final arrangements or set aside money for a life celebration (through a will).

Why enroll through your employer?

Guaranteed issue

Plans generally offer a guaranteed amount ofcoverage without the need to answer anymedical questions or submit to any medicalexams.

Convenient payroll deductions

With easy deductions from your paycheck,there’s no need to write a monthly check.

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With our portability option, you can keep your coverage if you switch employers.

YourUniversal Lifecomes with acashaccumulationfund (CAF) that allows you to set aside money on a regular basis.

This account can earn even more interest than most savings accounts, as the minimum rate will never be less than 4%.

Watch to learnmore aboutNYL GBS VoluntaryTerm Life insurance

Our value-added programs2 offer everyday help and support. When you enroll inNYL GBS Life insurance,they're included with your policy. Theseinclude:

NYL GBSLife Assistance Program (LAP)


NYL GBS Life Assistance Program (LAP) offers phone consultations, counseling referrals, online work/life support, and community services for many of life’s challenges. LAP is available to you, your household members, and beneficiaries receiving claim payments under NYL GBS Survivor Assurance.

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My Secure Advantage™(MSA)


My Secure Advantage™(MSA) is afull-servicefinancial wellness program that offers help with all types of personal financial needs. The program includes access to "money coaching" from experienced financial experts; identity theft resolution and protection; online will preparation; legal consultation referrals and discounts; educational webinars; access to a library of articles, tools, forms and tips; and more.MSAis available to you, your household members, and beneficiaries receiving claim payments underNYL GBS Survivor Assurance.

NYL GBSHealth AdvocacyServices


NYL GBS Health Advocacy Services provides you and your family (including spouse/domestic partner, dependent children, parents, and parents-in-law) access to expert assistance with a wide range of healthcare and health insurance issues. Includes Medical Bill Saver™—a service to help participants negotiate discounts on out-of-pocket medical expenses over $400. Check with your employer to find out if this program is available to you.

NYL GBSLife Assistance Program (LAP)3


NYL GBS Life Assistance Program (LAP) offers phone consultations, counseling referrals, online work/life support, and community services for many of life’s challenges. LAP is available to you, your household members, and beneficiaries receiving claim payments under NYL GBS Survivor Assurance.5

My Secure Advantage™ (MSA)4


My Secure Advantage™(MSA) is afull-servicefinancial wellness program that offers help with all types of personal financial needs. The program includes access to "money coaching" from experienced financial experts; identity theft resolution and protection; online will preparation; legal consultation referrals and discounts; educational webinars; access to a library of articles, tools, forms and tips; and more.MSAis available to you, your household members, and beneficiaries receiving claim payments underNYL GBS Survivor Assurance.5

NYL GBS Survivor Assurance5


NYL GBS Survivor Assurance offers an interest-bearing account for beneficiary payments of $5,000 or more through NYL GBS life and Accidental Death and Dismemberment (AD&D) insurance policies. Beneficiaries also have access to NYL GBS Life Assistance Program3 and My Secure Advantage.4

Survivor Support Services

Navigating the grief process can be difficult, and that’s why New York Life Group Benefit Solutions is committed to helping families when they need us most. If you are coping with a loss, please consider the resources below, which may provide a sense of comfort.

Additional Resources6
From time-saving tools to personalizedcare, theEmpathy appgives beneficiaries the resources to handle the practical and emotional challenges that follow the loss of a loved one.

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Group Life Insurance | New York Life Group Benefit Solutions (2)

Group Life Insurance | New York Life Group Benefit Solutions (3)

Navigate complex details
Checklists tailored to your specific needs give you step-by-step guidance for every challenge brought by loss. Whether it’s helping you understand the will or navigate the probate process, you’ll get the care you deserve.

Group Life Insurance | New York Life Group Benefit Solutions (4)

Find comfort
Everyone experiences grief differently. No matter what you are going through, Empathy offers emotional support resources to get you through your hardest days.

Group Life Insurance | New York Life Group Benefit Solutions (5)

Receivehands on assistance
A dedicated member of Empathy’s Care Team is there to help you every step of the way. They can take tasks off your hands, handle complicated paperwork, and give you tailored care and guidance.

Empathy, in partnership with New York Life, is for everyone because loss affects everyone. We’re proud to support every person and family, regardless of their age, race, religion, ethnicity, gender identity, or sexual orientation. 6

Additional Survivor Resources7
You can access a range of resources through the New York Life Foundation. Grief support is a priority of the foundation, which helps raise public awareness about the impact of grief on families. Resources include:

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Kai's Journey

Kai’s Journey is a free film and book series dedicated to children and families who have experienced the death of a loved one. It includes a discussion guide that offers tangible insights and tools to help promote productive conversations about grief.

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(Video) Empathy & New York Life Group Benefit Solutions Partner to Provide Bereavement Care to Employees

Camp Erin

Camp Erin is the largest national bereavement program for youth grieving the death of a significant person in their lives. It was created in 2002 by Eluna, which supports children and families impacted by grief or addiction.

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How we grieve

How we grieve is a helpful resource explaining the grief process in adults and children and the emotional impacts that take place after a loved one dies.

Need to File a Claim?

We want to make it as easy as possible for you to file a claim. Please use the link below for directions on how you can file a Voluntary Term Life insurance claim.

How to file a claim

Voluntary Term Life Insurance is issued by Life Insurance Company of North America and New York Life Group Insurance Company of NY, subsidiaries of New York Life Insurance Company. Policy forms:Term Life -TL-004700 et al.

1The guaranteed issue amount is established at the policy level and will vary from case to case.

2These programs are NOT insurance and do not provide reimbursement for financial losses. Some restrictions may apply. Not available for policies issued by New York Life Group Insurance Company of NY. Programs are provided through third party vendors who are solely responsible for their products and services. Full terms, conditions and exclusions are contained in the applicable client program description and are subject to change. Program availability may vary by plan type and location and are not available where prohibited by law.

3These programs are NOT insurance and do not provide reimbursement for financial losses. Some restrictions may apply. The Life Assistance Program products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Evernorth Behavioral Health, Inc. and Evernorth Care Solutions, Inc. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs. Programs are provided through third party vendors who are solely responsible for their products and services. Full terms, conditions and exclusions are contained in the applicable client program description, and are subject to change. Program availability may vary by plan type and location, and are not available where prohibited by law. These programs are not available under policies issued by New York Life Group Insurance Company of NY. Cigna Corporation and its subsidiaries are not affiliated with New York Life Insurance Company and its subsidiaries.

4My Secure Advantage is NOT insurance and does not provide reimbursement for financial losses. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs. Programs are provided through a third party vendor who is solely responsible for their products and services. Full terms, conditions and exclusions are contained in the applicable client program description, and are subject to change. Program availability may vary by plan type and location, and is not available where prohibited by law. This program is not available under policies insured by New York Life Group Insurance Company of NY.

5The Survivor Assurance Program for beneficiaries is available to beneficiaries receiving coverage checks over $5,000 from New York Life Group Benefit Solutions Life and Accidental Death and Dismemberment programs. Survivor Assurance accounts are not deposit account programs and are not insured by the Federal Deposit Insurance Corporation or any other federal agency. Account balances are the liability of the insurance company and the insurance company reserves the right to reduce account balances for any payment made in error. Counseling, legal or financial assistance and discount programs are not available for policies issued by New York Life Group Insurance Company of NY.

6Empathy is not affiliated with New York Life and provides this service at no cost to you. The use of this service is optional and not available in all states. Service availability is subject to your state of residence. Availability may vary by plan type and location, and is not available where prohibited by law. This program is not available under policies issued by New York Life Group Insurance Company of NY and policies delivered in Oregon and Washington that are issued by Life Insurance Company of North America (LINA). Empathy Project Ltd. is not affiliated with New York Life Insurance Company and its subsidiaries.

7Available to anyone for use and not subject to having a policy or being a current client.

New York Life Group Benefit Solutions products and services are provided by Life Insurance Company of North America and New York Life Group Insurance Company of NY, subsidiaries of New York Life Insurance Company.

Life Insurance Company of North America is not licensed in New York and does not conduct insurance business in New York.

FAQs

What is group life insurance program? ›

Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group.

Is New York Life the same as MetLife? ›

The main difference between MetLife vs NYL is not necessarily their rates or background histories, but the fact that MetLife focuses more on term insurance while NYL focuses more on permanent insurance. Each company offers multiple types of insurance.

Can I withdraw money from my New York life insurance policy? ›

If your death benefit needs change, you can take a loan or withdraw a portion of the cash value to supplement various financial needs such as helping pay college tuition7. You can borrow or withdraw money from your cash value whenever you like.

Is Cigna the same as New York Life? ›

New York Life completes acquisition of Cigna's Group Life and Disability Insurance business. Group Life and Disability Business Rebranded New York Life Group Benefit Solutions.

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