In addition to city paid basic life insurance, benefited employees may purchase supplemental life insurance coverage for yourself, spouse/partner and dependents. Employee and spouse/partner rates are based on the employees age. Please see the
supplemental life insurance rate chart below for all premium rates. When an employee's age reaches a new age bracket, the new rate takes effect on the first pay check of the following year. Supplemental life insurance premiums are deducted on an
after-tax basis.
- For yourself, you may purchase a maximum of $300,000, in units of $10,000. This amount cannot exceed five times your annual salary. An application must be completed and a physical examination may be required in order to buy this additional
coverage.
- For your spouse/partner, you may purchase up to a maximum of $150,000, in units of $10,000. Spouse/partner coverage ceases at age 70.
- For your children, you may purchase up to the maximum of $10,000, in units of $2,000. You must purchase additional life insurance on yourself or spouse/partner in order to be eligible to purchase coverage for your children. Unmarried dependent
children are eligible for coverage from 14 days until the age of 26 regardless of student status. The maximum benefit for children under six months old is $500.
Coverage is subject to the approval of New York Life Insurance. You may apply for new coverage at any time, but must satisfy the insurability requirement. You may also make changes to current coverage at any time.
Please note there are certain age reductions.
View Voluntary Life Insurance Certificate
If you have lost your coverage due to termination or experienced a reduction due to age, you are eligible to convert all or part of what you lost within 31 days of losing the coverage.
View Life Insurance Conversion Form
To change coverage amount or stop Supplemental Life Insurance:
Please complete the following form and forward to the benefits department.
Voluntary Life Insurance Change Form
To change your Life Insurance beneficiary:
Please complete the following form and forward to the benefits department.
Beneficiary Change Form for Life and Vol Life