Over our 177-year history, New York Life has been dedicated to helping both our customers and our employees protect themselves and those they love. We are nothing without our people, and we have a long-standing tradition of providing them with a wide range of comprehensive benefits.
Encouraging a healthy work-life balance for our employees is a core part of the New York Life culture. Our benefit packages are built with that in mind, providing flexibility and choice across a wide range of options.
“When you join the team, you’re making a commitment to New York Life, and New York Life equally makes a commitment to you" —Maria Mauceri, vice president and head of benefits at New York Life
Maria Mauceri, vice president and head of benefits at New York Life, plays a key role in shaping the company’s workplace culture. Maria centers New York Life’s identity around commitment. “When you join the team, you’re making a commitment to New York Life, and New York Life equally makes a commitment to you,” she says.
So, whether it’s backup childcare, a solid retirement savings plan, or assistance with student loan repayments that might provide some peace of mind, we’re here to help. While the company’s benefit programs are subject to change and evolve over time, here are just a few examples of how New York Life helps employees today.
1. “My student loan debt hangs over me. I just want to get the balance paid off as quickly as possible.”
New York Life helps employees tackle that debt. We offer all eligible employees a monthly contribution of $170 towards their student loan repayments. The program lasts for five years and, in that time, we can contribute up to $10,200 toward student loan debt.
Plus, as part of our Student Loan Repayment Program, we partner with Vault, a company committed to tackling the challenges associated with student loan debt. We offer access to Vault advisors, who can provide expert advice on student loan repayment decisions and help ensure employees are making informed financial choices. CNBC recently interviewed a New York Life employee about how the program is helping her plan her financial future and achieve financial stability.
Find out more in this article that takes a deeper dive on student loan benefits.
2. “Being able to work from home sometimes is great. I save so much time not commuting through rush hour traffic in the city. But I also like to see my colleagues in person.”
The pandemic allowed us to rethink how we work. As offices closed, remote working became the norm, and our employees have settled into new routines.
That is why New York Life has implemented a hybrid “3-2 work week” model which involves three days in the office and two days working from home—the best of both worlds of still working remotely and networking, collaborating, and connecting with colleagues in the office.
3. “I’d love to study again. Progress is important to me, and I wish I could get myself an insurance qualification.”
Whether it’s banking, medicine, teaching, or science, many of our employees bring varied professional experience to their insurance careers. New York Life encourages professional development, and that’s why we offer tuition reimbursement for employees wanting to enroll in further study.
If employees are looking to complete undergraduate or postgraduate degrees, study independently in training programs, or advance their insurance careers with relevant certifications, New York Life will support them.
4. “My father is getting older, and I worry about how I’m going to look after him. I need some advice and support.”
As those we love age, ensuring they have the support and care they need can be a challenge. At New York Life, we are aware that a significant part of our team is caring for both their children and their parents, or caring for other family members in need. Most of the time, this isn’t easy.
As part of our LifeCare service, a work-life benefits service available to New York Life employees, we offer a Senior Care Management service where employees receive an expert senior care assessment and three hours of specialist advice per year.
More broadly, LifeCare is a robust source of knowledge, tools, discounts, and specialist support, designed to ensure that every member of the New York Life team can make the right decisions for themselves and their families.
Learn more about our caregiving benefits here.
5. “Sometimes if my partner gets caught up at work, or the babysitter is off due to illness, then I’m stuck when it comes to childcare.”
Juggling two work schedules, afterschool activities, daycare, medical appointments, and impromptu playdates is no easy feat. And once in a while, plans go awry—or something unexpected happens. New York Life knows you can’t always plan for everything, which is why we offer our Backup Care Connection, also part of our LifeCare service.
Get same-day childcare for up to 20 days per year, per child—at only $10 a day. We hope this gives our employees some peace of mind.
Also, when it comes to family life, we know there’s nothing better than putting a smile on kids’ faces. Quality family time is integral to a healthy work-life balance. But the cost of family outings can rapidly add up. LifeMart is the discount branch of our LifeCare service and offers all New York Life employees a wide range of perks and discounts from various companies. These include concert tickets, theme park admissions, movie theater tickets, travel, and car rental. Balance the personal and the professional—and make memories that mean something.
Find out more about our caregiving benefits here.
6. “My partner and I want to start a family, and to do so, we need to adopt. But we don’t know where to start, or how we will afford it!”
Starting a family is one of the most exciting times in a person’s life. But it can also be daunting–whether you’re trying to get pregnant, or if you’re looking to adopt. We support all our employees in taking this big next step by offering expert specialists who can assist with the process.
Pregnancy leave is covered with short-term disability benefits, and when it comes to adoption, we offer up to $10,000 in reimbursement for any eligible expenses over a 12-month period for each family. Plus, paid parental leave is available for fathers, domestic partners, and same-sex spouses.
Learn more in this article that explains more about our adoption loan benefits.
7. “I’ve battled with an underlying health condition for years. My medical costs are a struggle.”
New York Life takes medical coverage seriously, and we think it is important that our employees have access to a package that works for them, which is why we offer two medical insurance options. Both are available through Aetna, with 100 percent coverage for in-network preventative care. Our Active Health Option has a Health Reimbursement Account funded by New York Life, allowing employees to access funds to cover prescription expenses or medical costs.
Need to see a doctor urgently, or have a medical issue while traveling? Our Telemedicine service, Teladoc, can connect people with a physician no matter where they are, through phone or video consultation, at just $40 an appointment for primary care.
We also offer dental coverage, vision coverage, and preventative care programs such as routine physicals and baby-care appointments. At New York Life, staying healthy is a priority.
8. “I’m anxious about planning for my family’s future. I want to make sure they’re financially safe no matter what happens.”
As a life insurance company, future planning is in our DNA. Ensuring the families of our employees are protected in any eventuality is of the utmost importance. An amount of life insurance coverage is offered at no extra cost for our employees, as well as options for dependents. And when it comes to finances, we offer all of our employees a 401(k) plan with a company match.
With our 401(k) plan, employees can make savings work for them through company-matched contributions towards retirement. The plan can accommodate any savings strategy with pre-tax and after-tax features and allows employees to rollover a balance from other eligible employer-sponsored plans.
In addition, some employees are eligible for a pension plan1, to help build a solid foundation for their financial futures.
9. “My mother is unwell. I would like the peace of mind of knowing I can take bereavement leave if the worst should happen.”
If there is a death in a family, our employees are entitled to 15 days paid leave as a part of our recently expanded bereavement policy. This applies to the loss of anybody considered to be a “loved one”, as defined by our employees themselves. We are also in the process of designing training for managers and resources for employees on how to support grieving colleagues. New York Life is committed to supporting our employees as they navigate these difficult times in their lives. The health and wellbeing of our team is of utmost priority.
The death of a loved one often impacts children who spend a majority of their days at school. As one of the largest corporate funders of childhood bereavement support, New York Life created the Grief-Sensitive Schools Initiative to address the gap in grief support in schools by providing resources and tools for school communities to support grieving students and their families.
Learn more about New York Life's bereavement benefits in this article where one of our employees shares their experience.
10. “With everything that’s happened over the last couple of years, there’s been a few times I’ve found myself feeling pretty stressed out and anxious. I wish I had some tools to help manage my mental health.”
Things haven’t been easy recently, and we can all feel overwhelmed or in need of some extra support at times. At New York Life, mental health matters. We offer short-term counseling resources to employees, and our member website provides access to tools and resources to help when they’re not feeling like themselves.
Taking vacation time is another important part of maintaining a healthy work-life balance and good mental health. At New York Life, we want employees to take the time they need to reset. Employees accrue vacation time based on years of service, ranging from two to five weeks. Plus, New York Life offers employees paid volunteer days, a number of personal days to take annually, and the chance to leave early on “Summer Fridays”—giving them a head start on their weekends over the course of some summer weeks.
To take a deeper dive and read an employee's first hand account of how our student loan repayment benefits helped them visit here.
If this sounds like the kind of company where you believe you can thrive, we encourage you to explore the career opportunities currently available at New York Life.
1Pension plan available for eligible employees. Eligible employees are vested after 3 years of full-time employment.
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