Employee's Whole Life.

Protecting your family with workplace insurance.

Life insurance for you and your family.

Purchasing life insurance at your place of work is often a good way to begin or to supplement protection for your family. In cooperation with your employer, New York Life Insurance Company offers a program to help provide you with insurance protection and financial security for yourself and your family. This program will help you purchase individual permanent life insurance, Employee Whole Life, through voluntary payroll deduction, and gain valuable protection.

Highlights

• No medical exams: A completed application is all that's generally necessary for approval. There are limited or no health questions.
• Competitive rates: Since many employees can take advantage of this offer at once, you're able to benefit from the more affordable premiums Employee’s Whole Life arrangements can offer.
• Permanent death benefit: Your coverage will never expire as long as you pay your premiums.
• Cash accumulation: With time, your life insurance policy will provide increasing cash value in addition to valuable coverage. This cash value can be borrowed against for education, retirement, emergencies, or to help you meet other financial needs. (Policy loans accrue interest and will reduce the cash value and death benefit.)
• Convenience: Premiums are deducted directly from your paycheck, which means there are no checks for you to write and no payments to mail.
• Portability: You own the policy. Should you leave your present company or retire, your policy goes with you. New York Life has several payment options to help you maintain your policy while still addressing your changing needs and/or budget.
• Flexibility: You determine how much insurance you need, and for whom. We also offer additional, affordable options through riders (some at additional cost) to enhance your coverage.
• Family coverage: Even if you choose not to obtain coverage on yourself, your spouse, your children, and even your grandchildren may be eligible to obtain quality life insurance coverage through this program by answering a few simple medical questions.
• Reliability: New York Life has been providing for families like yours for over 170 years. We offer protection you can count on.

Determine the amount of coverage you need.

• Who is eligible for a policy?
  All full-time employees (30+ hours per week), ages 16–70, their spouses, their children, and up to six of their grandchildren (ages 15 days–25 years) may be eligible for coverage.
• When does the insurance begin?
  Your insurance coverage begins once you sign the application and the payroll deduction authorization form under a temporary coverage agreement. Your permanent policy will be issued after that.
• How does the cash value of my policy grow?
  This policy has a guaranteed cash value that will increase annually as long as premiums are paid on time. Dividends, which are neither guaranteed nor an estimate of future performance, may add to your policy's value.
• Can I purchase additional insurance at a later date?
  Additional policies to provide more coverage can be purchased during the annual re-enrollment period.
• What happens if I leave the company?
  Your life insurance policy is portable—you own it. Should you leave your employer or retire, you will be billed directly, in a manner that is convenient to you. The amount of your premium will change to reflect the billing option you choose.
• Does this replace my employer-provided group life insurance?
  This insurance does not replace or affect your employer-provided group life insurance. Your employer is not permitted to endorse or contribute to this plan and, unlike with many group insurance plans, your policy coverage is not reduced or eliminated when you retire or leave the company.