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 Group Benefit 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 your life 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.
Payment can be used to:
Plans generally offer a guaranteed amount of coverage without the need to answer any medical questions or submit to any medical exams.
With easy deductions from your paycheck, there’s no need to write a monthly check.
With our portability option, you can keep your coverage if you switch employers.
Your Universal Life comes with a cash accumulation fund (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%.
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.
My Secure Advantage™ (MSA) is a full-service financial 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. MSA is available to you, your household members, and beneficiaries receiving claim payments under NYL GBS Survivor Assurance.
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.
Our program offers three face-to-face counseling sessions with certified clinicians as well as up to five resiliency coaching sessions from a certified counselor. Additional resources include wellness articles, podcasts, videos, and much more. All services are available 24 hours a day, seven days a week.
Provides unlimited consultations for financial planning and legal support from certified professionals to help with debt management, credit issues, tax consulting, legal documents, and more. Assistance also includes identity-theft support with legal specialists and fraud-resolution services, interactive online tools, calculators.
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 the Employee Assistance & Wellness Support and Financial, Legal, Estate Support programs.
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.
Everyone experiences grief differently. No matter what you are going through, Empathy offers emotional support resources to get you through your hardest days.
Receive hands 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 Resources6
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:
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.
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.
1 The guaranteed issue amount is established at the policy level and will vary from case to case.
2 These 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. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs. Some services are available at the option of the employer for an additional cost. 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. Services are provided exclusively by ComPsych® effective January 1, 2023. ComPsych is solely responsible for its services and is not affiliated with New York Life Insurance Company or any of its affiliates.
4The 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.
5Empathy 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.
6Available 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.