Voluntary life insurance gives you the chance to buy a greater amount of coverage through your company—it’s usually offered in addition to a basic plan that may be company-paid.

It is very important that you choose a beneficiary when you sign up for voluntary life insurance. If you can purchase voluntary coverage for your spouse or children, you will automatically be the beneficiary—but if you are purchasing coverage for yourself, you must name a beneficiary to be sure your benefit goes where you want it to.

Some plans require you to name your spouse as your beneficiary if you are married.

Reminder: Please don’t forget to add or update your beneficiary information. To do so, log in to your Employee Navigator portal to add or update your beneficiaries.

Medical question limit: When you’re first eligible (a new hire), you can purchase additional life insurance up to this limit without any medical questions required. Medical questions and approval will be required for all future increases and purchase requests.

OE Allowance: Increase by one increment during OE without having to submit an EOI, as long as total election remains under the GI amount. Increase by more than one increment and/or an amount over the GI amount and EOI will be required.

  • Benefit

    Optional. Offers your beneficiaries additional financial protection if you should die.

    Elect in increments of $10,000, up to a maximum of $500,000

  • Guaranteed issue amount

    The maximum amount of coverage you can choose without providing a statement of health (called Evidence of Insurability or EOI).

    $150,000

  • Is EOI required?

    Evidence of Insurability (EOI) is a statement of health, sometimes required by an insurance company before they will insure you.

    Yes, for amounts over $150,000

  • Who pays for coverage?

    You, if you choose to enroll

Voluntary Employee Life and AD&D plan

Provider: NY Life

Plan ID# SOK610134

Phone: 800-225-5695

Website: https://www.mynylgbs.com/

  • Benefit

    Pays you a benefit if your spouse should die.

    Elect in increments of $5,000, up to a maximum of $100,000

  • Guaranteed Issue Amount

    The maximum amount of coverage you can choose without providing a statement of health (called Evidence of Insurability or EOI).

    $30,000

  • Is EOI Required?

    Evidence of Insurability (EOI) is a statement of health, sometimes required by an insurance company before they will insure you.

    Yes, for amounts over $30,000

  • Who Pays for Coverage?

    You, if you choose to enroll.

  • Restrictions

    Amount cannot exceed employee elected amount

Voluntary Spouse Life/AD&D Plan

Provider: NYLife

Plan ID# SOK610134

Phone: 800-255-5695

Website: https://www.mynylgbs.com/

Amount can not exceed employee elected amount

  • Benefit

    Offers you and your spouse financial protection if your child should die. Available to dependents 14 days to 24 years (26 if full-time students).

    Increments of $1,000 up to $10,000

  • Guaranteed Issue Amount

    The maximum amount of coverage you can choose without providing a statement of health (called Evidence of Insurability or EOI).

    All amounts

  • Who Pays for Coverage?

    You, if you choose to enroll.

Voluntary Child Life and AD&D Plan

Provider: NYLife

Plan ID# SOK610134

Phone: 800-255-5695

Website: https://www.mynylgbs.com/