New York Life offers you a valuable complement to your employment benefits—permanent, affordable life insurance. Even if you already have group term life insurance, you can get this extra protection with the convenience of automatic payroll deduction.
Most group term life insurance policies last only as long as you work for that employer. New York Life Employee’s Whole Life Insurance lets you take your policy with you even if you change jobs or retire. And since it’s permanent insurance you will receive additional benefits like building cash value and eligibility to earn dividends.
At New York Life, we aspire to be an industry leader at the workplace by providing valuable protection and peace of mind for employees and their families. Our nationwide network of agents make it their personal mission to connect with you individually, and, in many cases, help address your financial needs beyond what is being offered at the workplace.
LIFE AND WORK. THEY GO TOGETHER.
If you already have life insurance coverage through your employer, you’ve taken an important step toward protecting your family’s financial future. But most company-sponsored plans are group term programs. That means when you retire or if you leave your job for any reason, your coverage may end. On the other hand, when you own a permanent life policy, your loved ones will be protected wherever you work, as long as the premiums are paid.
CAN ALL EMPLOYEES PURCHASE GUARANTEED ISSUE EMPLOYEE’S WHOLE LIFE INSURANCE?
You’ll be eligible to purchase our Guaranteed Issue Employee’s Whole Life product if you are between the ages of 16 and 70, have been with your employer for at least six months, and work at least 30 hours a week. All you need to do is complete an application. No physical exams are needed nor are any medical questions asked.
In order to maintain your Guaranteed Issue eligibility, you must purchase additional coverage within three years of your last purchase. You can add policies for both you and your qualified family members during future annual re-enrollment periods or as your insurance needs change.
* Guarantees are based on the claims-paying ability of the issuing insurance company.
1 Access to the policy’s cash value reduces the death benefit and cash value of the policy. Policy loans accrue at interest. Any outstanding loans plus interest or partial withdrawals will reduce the policy’s death benefit and cash value by the same among of the loan plus interest or withdrawal.New York Life Employee’s Whole Life Insurance is issued by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.
2 Dividends are not guaranteed
This program is not intended to be subject to the Employee Retirement Income Security Act of 1974 (ERISA). The employer does not contribute to or endorse the program. Employee participation is completely voluntary.
SMRU 1801571 Exp. 1/12/2021