Life throws curveballs. Having a plan for the unpredictable is crucial. That's where our term life insurance comes in. It's designed to provide your employees with financial security in case of the unexpected.
But our commitment goes beyond the claim. We understand the immense challenges families and individuals face after losing a loved one. That's why our tailored and flexible plans offer customized coverage alongside caring guidance and resources. This support helps navigate the practical and emotional difficulties that come with such a loss, allowing beneficiaries to focus on healing during a difficult time.
Our plans include a range of features, including takeover coverage, providing up to 12 months of transitional coverage and waiver of premium, that permits coverage without premium payments for up to 12 months under certain conditions.
We will work together with your organization to build a plan that works for you and your employees by offering a choice of flat benefits and salary-based plans and guaranteed issue life protection with no need for proof of good health.1 We also offer you a variety of policy administration solution ranging from full-service support to plug-and-play capabilities. There is even Accidental Death and Dismemberment (AD&D) & Business Travel Accident (BTA)2 options, extending your protection based on your employee needs and occupational demands.
Our vision to deliver a seamless experience extends to our connected solutions offering easy integration all major HR platform providers and has data connections with over 100 platforms and 24 key vendors, including Workday, ADP and Alight Solutions.3
As part of our focus on making benefits easier, our unique, online life claim intake system enables either the employer or the beneficiary to initiate a claim; not only streamlining the claim process but actually reducing the time from submission to payout by nearly 40%.4 These features can accelerate the life-claim process for a swift and efficient experience.
We also offer additional support resources, providing vital assistance in wellness, legal, financial, estate matters, and bereavement services.5 Our dedicated Survivor Support Specialists, experts in grief and bereavement care are there for your employees and their families to provide compassionate guidance throughout the life claim process.
With over 100 years of experience, we've built a foundation for success, leveraging our technology to enhance your benefits experience. Our dedicated team of experts are committed to accompanying you at every step, offering consultative guidance to help deliver the outcomes you and your employees need.
1Contact your New York Life Group Benefit Solutions representative or existing policy for details.
2THIS POLICY PROVIDES LIMITED ACCIDENT ONLY COVERAGE. IT DOES NOT PAY BENEFITS FOR LOSS CAUSED BY SICKNESS. Product availability and plan features may vary by location and plan type and is subject to change. This is a brief description of the insurance coverage. For costs and complete information, including exclusions, limitations, and provisions regarding termination of coverage, contact a New York Life Group Benefit Solutions representative.
3Based on New York Life Group Benefit Solutions 2023 book of business and is subject to change.
4Based on NYL GBS 2023 Internal claims data.
5These programs are NOT insurance and do not provide reimbursem*nt for financial losses. Some restrictions may apply. These services are provided exclusively by ComPsych® Corporation. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs. Some service available at the option of 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 were prohibited by law. These programs are not available under policies issued by New York Life Group Insurance Company of NY.
Product availability may vary by location and plan type and is subject to change. Group Term Life insurance policies may contain exclusions, limitations,reduction of benefits, and terms under which the policies may be continued in force or discontinued. For costs and complete details of coverage, contactyour New York Life Group Benefit Solutions representative. Policy forms: TL-004700 et al.Accident -GA-00-1000.00 et al., BA-00-1000.00 et al.
New York Life Group Benefit Solutions products and services are provided by Life Insurance Company of North America, New York Life Group InsuranceCompany of NY, and New York Life Insurance and Annuity Corporation, subsidiaries of New York Life Insurance Company. Life Insurance Company of North America is not authorized in New York and does not conduct business in NY.
