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Group Term Life Insurance
Protect your loved ones from the unexpected.
If something were to happen to you, would your family be able to pay for daily expenses? What about future expenses? 66% of Americans say the top reason for owning life insurance is to help replace lost wages or income of a wage earner.1 When an employer makes Group Term Life Insurance from New York Life available, it can provide a safety net for employees and their families should the worst happen.
Consider Group Term Life Insurance if you’re looking for:
- Coverage in the event of your death or the death of a family member
- A federal-income tax free benefit to your beneficiaries
- Access to New York Life financial professionals providing personalized guidance
What is Group Term Life Insurance?
Your income is one of your most valuable assets. Group Term Life Insurance protects this asset by providing coverage for yourself as well as eligible family members, should the unexpected occur.
Prepare for tomorrow, today
Family friendly
Coverage can be made for employees and their family members.
Cost-effective solution
During prime working years, Group Term Life offers premiums that are generally lower than the cost of permanent life insurance.
An added safety net
Policies can help pay bills, pay off debts, or cover final expenses.
Coverage if you need it. Peace of mind that you have it.
Employer provided life insurance, like New York Life’s Group Term Insurance, offers valuable protection for you and your loved ones.
Group Term Life Insurance Benefits
Income tax-free benefit
Protect and provide for the ones you love. Cover family members with an income tax-free benefit.
Accelerated Death Benefit
A portion of the death benefit may be paid upon diagnosis of a terminal illness with a life expectancy of 12 months or less.2
Accidental Death & Dismemberment
Add this additional coverage to provide protection in the event of an accident that results in severe injury or death.
Income tax-free benefit
Protect and provide for the ones you love. Cover family members with an income tax-free benefit.
Accelerated Death Benefit
A portion of the death benefit may be paid upon diagnosis of a terminal illness with a life expectancy of 12 months or less.2
Accidental Death & Dismemberment
Add this additional coverage to provide protection in the event of an accident that results in severe injury or death.
Why New York Life?
New York Life Advantage
Approved claims are made within three days of receipt of necessary information.
Financial Strength
New York Life has been protecting policy owners for over 175 years, in good times and bad.
Professional Service
Our trained financial professionals are here to help address your personal financial needs.
1 LIMRA Facts About Life 2019
2 Not to exceed the lesser of 80% of the insured person’s life insurance amount or $500,000.
New York Life Group Term Life Insurance is issued by New York Life Insurance Company.
New York Life’s Group Term Life Insurance with AD&D program may be subject to the Employee Retirement Income Security Act of 1974 (ERISA). You should consult with your tax and legal advisors regarding the applicability of ERISA to this program and your responsibilities, if any, under the program.
New York Life, its subsidiaries, agents, and employees do not provide legal or tax advice.
These policies have exclusions, limitations and terms under which the policies may be continued in force or discontinued. For costs and complete details of the coverage, please contact your New York Life agent or the company.
In Oregon, the Group Term Life policy form number is ICC16EB-Life-P.
EB-MKT-1050
SMRU 1908072, expiration 7/26/2023