New York Life Group Benefit Solutions Life Insurance

Life insurance can help your employees and their families stay financially protected and better prepared.

At New York Life Group Benefit Solutions, we believe that life insurance coverage is one of the most important and valuable benefits you can offer your employees.

We offer flexible strategies and annual enrollment events to help meet employees’ different life stages.

Group Life Insurance Policy Options

NYL GBS Voluntary Term Life

Plans are tailored to meet employers’ needs with a choice of basic (employer-paid) or voluntary (employee-paid) term life coverage, or a combination of the two.

NYL GBS Universal Life

Insurance combines the protection of life insurance with an option to build savings.

Our holistic, customer-centered approach to group life insurance provides value for both you and your employees:

Employers

  • Greater ease of administration and predictability with annual enrollment events
  • Choice of flat benefits and salary-based plans
  • Variety of policy administration solutions ranging from full-service support to plug-and-play capabilities (self, partial, or full administration)
  • Stream-lined claims process

Employees

  • Group coverage offers value and convenience
  • Additional financial protection for employees and their families
  • Offers living benefits through terminal illness coverage
  • Access to financial tools, including our insurance needs assessment and premium calculator

Did you know?1

New York Life Insurance

Among those who own life insurance, 1 in 5 people need more coverage.

New York Life Insurance

Most consumers overestimate the cost of life insurance coverage by more than three times its actual cost.

New York Life Insurance

Millennials overestimate the cost of life insurance by more than five times its actual cost.

New York Life Insurance

61% of people don't buy (or don't buy additional) life insurance because they have other financial priorities.


Interested in transitioning your life insurance plan to NYL GBS?

Our value-added programs2 offer everyday help and support. When your employees and their families enroll in NYL GBS Leave Solutions, they're included at no additional cost and are available to you and members of your household. These include:

NYL GBS Life Assistance Program3


Offers phone consultation, counseling referrals, online work/life support, and community services for many of life’s challenges. LAP is available to your employees, their household members, and beneficiaries receiving claim payments under NYL GBS Survivor Assurance.

My Secure Advantage (MSA)4

 

A full-service financial wellness program that offers solutions for 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 your employees, their household members, and beneficiaries receiving claim payments under NYL GBS Survivor Assurance.

NYL GBS Health Advocacy Services5


Provides employees and their families (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 GBS Survivor Assurance6

Offers an interest-bearing account at no charge for beneficiary payments of $5,000 or more through life and accident insurance policies. Beneficiaries also have access to NYL GBS Life Assistance Program and My Secure Advantage.

Learn more about how New York Life can protect your employees.

Contact your producer or connect with a New York Life Group Benefit Solutions sales representative to learn more about how we can work together.

1LIMRA, "2020 Insurance Barometer Study," 2020.

2 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.

3 These programs are NOT insurance and do not provide reimbursement for financial losses. Some restrictions may apply. Employee assistance services are provided by or through Cigna Behavioral Health, Inc. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs.

4 My Secure Advantage is NOT insurance and does not provide reimbursement for financial losses. Program is provided through a third-party vendor who is solely responsible for their products and services.

5 Health advocacy services are NOT insurance and this program does not provide reimbursement for financial losses. Health advocacy services are provided under a contract with Health Advocate, Inc. which is solely responsible for its products and services.

6 Counseling, legal or financial assistance programs are not available under policies insured by Life Insurance Company of North America. The 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. SecureAssurnace 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 in New York.

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.