Coverage up to $600,000 for members. Up to $300,000 for spouse/domestic partner coverage or 100% of the member’s coverage amount, whichever is less Term life insurance policy rates.
$20,000 in coverage for dependent children (up to age 26)
Coverage for Acts of War and Terrorism
Coverage you can keep when you retire or leave your job
Term life insurance providers
Accelerated Death Benefit – access coverage funds to pay for anything you want if diagnosed with a terminal illness*
Coverage for Accidental Death & Dismemberment, at no additional charge, equal to 50% of the member’s life insurance amount
The “Accelerated Death Benefit” option is available to help terminally ill insureds during a difficult, and often financially challenging time. Under this provision you may request one advance payment equal to 75%, but not more than $250,000, of a qualified terminally ill person’s in force life insurance to be paid while that person is still alive.
The request must be made at least 12 months prior to the insured person’s scheduled coverage termination age and the amount of insurance payable after the insured’s death will be reduced by this payment. (Premium contributions will not be reduced.) If a scheduled reduction in coverage will occur within one year of the date the Accelerated Death Benefit will be paid, the benefit payable will be 75% of the reduced coverage amount.
The NEW YORK LIFE Box Logo is a registered trademark of New York Life Insurance Company and is registered in the United States and in other countries around the world.
New York Life’s state of domicile is New York, and NAIC ID # is 66915.
Life insurance questions
New York Life is licensed/authorized to transact business in all 50 United States, the District of Columbia, Puerto Rico, and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the applicable insurance brochures for current availability.