New York Life Insurance Benefit for NOVA Employees

NOVA is making available a voluntary life insurance program from New York Life Insurance Company. This program will assist you in providing additional protection and financial security for yourself and your family. Click here to set up a convenient virtual or phone appointment with our New York Life agents to discuss this new benefit and for enrollment. 

Employee’s Whole Life Guaranteed Issue allows you to purchase cash value permanent life insurance based on an arrangement with your employer. To qualify, you must be between the ages of 16 and 70 and have been working with your employer for at least 30 hours a week for at least 90 days. This is a private Whole Life policy that you will be able to take with you if you ever leave employment or retire from NOVA.

Product Features:

• Hassle free application process: There are no physical exams, and no medical questions asked.  Even if you have a terminal illness or other limiting factor that would normally prevent you from obtaining insurance. 
• This is a Whole Life Policy, not a Term Policy
• Coverage for additional family members: Your spouse, children and even grandchildren (up to 25 years old) may be eligible for coverage.
• Portability: Since you own the policy, it remains with you regardless of where you work or even if you retire.
• Guaranteed Cash Value: Your permanent policy builds cash value, which you can access to help pay your children’s college education or to supplement your own retirement income later in life when your insurance protection needs decrease.

Click here to schedule a meeting with your New York Life agent.

Submitted by:
Kim Jewell, Assoc. Director of Benefits Administration, KJewell@nvcc.edu