New York Life introduces new resource for financial wellbeing in the workplace.

NEW YORK - New York Life has announced the launch of Balance Wellbeing with New York Life^TM ("Balance Wellbeing^TM"), its new financial wellbeing offering. Balance Wellbeing^TM highlights New York Life's long history of helping families build secure futures by providing access to holistic financial guidance and support designed to address employees' financial challenges and positively impact workforce outcomes. Balance Wellbeing^TM is currently available to eligible Group Benefit Solutions and Business Solutions clients.

"We are seeing a growing interest in financial wellbeing by consumers, thanks to the ease of accessing financial education and advice and the rise of social platforms," said Debapriya Mitra, vice president and head of marketing strategy and business development at New York Life. "At the same time, the credibility of this information is critical. As a company with a long history of providing advice, guidance, and solutions that build secure futures, New York Life is well-positioned to continue to expand its commitment to financial empowerment and wellbeing, democratizing access to trusted financial guidance. Doing so in the workplace is a natural, and important step on this journey."

The Balance Wellbeing^TM platform leverages partnerships with leaders in financial wellness, including fintech partners, to make personalized financial wellness accessible and inclusive in the workplace, empowering employees to take advantage of workplace benefits, and guiding their next best step throughout life events. Additionally, Balance Wellbeing^TM provides access to one-on-one guidance from New York Life financial professionals.

"Employers are increasingly seeking solutions to support their employees' holistic wellbeing, which we are proud to enable with the introduction of Balance Wellbeing^TM," said Meghan Shea, vice president of distribution for New York Life Group Benefit Solutions. "Balance Wellbeing^TM provides resources and capabilities that will enable employers to help their employees understand and address a full range of financial wellness needs. Balance Wellbeing^TM integrates digital resources and assessment capabilities with human consultation, demonstrating our commitment to providing solutions designed to meet people where and how they want."

Balance Wellbeing^TM offers an intuitive platform for individuals to explore a suite of solutions including:

• Objective financial health assessment identifies an individual's current financial health and behaviors with a FinHealth Score to analyze key needs - and customizes the experience to improve financial health over time.
• Relevant resources include financial support based on an employee's FinHealth Score, including student loan optimization, emergency savings and mortgage readiness, and credit counseling referral services.*
• Financial education, such as on-demand education including articles, calculators and webinars focused on supporting consumers during different life events. This includes live financial wellbeing seminars covering a range of topics, from budgeting and money management to navigating market volatility.
• Centralized access to overall financial health through Balance Wellbeing^TM streamlines employees' benefits and rewards into one platform, while reducing the administrative burden on employers. Employees can link other accounts to create a comprehensive overview of theirfinancial health.
• Access to trusted financial professionals through New York life enables individuals to connect with New York Life financial professionals to address their unique financial needs, including creating a comprehensive financial strategy that encompasses financial priorities critical to long-term wellbeing, like debt management, saving, and protection needs.

"Our September 2024 Wealth Watch research shows that across the board, too few people take advantage of workplace benefits that can support holistic wellbeing for themselves and their families," said Jessica Ruggles, corporate vice president, Financial Wellness, New York Life. "Balance Wellbeing^TM offers employees a comprehensive suite of solutions designed to address people's unique needs and help put them on a path to a more secure financial future."

Balance Wellbeing^TM supports the needs of workers across industries, incomes, and experiences, from large national employers to small businesses, in communities across the country.

"New York Life financial professionals who offer Business Solutions provide a variety of protection and benefit solutions to small business owners and their employees," said Natalie Cooper, vice president and head of Business Solutions at New York Life. "The expansion of Balance Wellbeing^TM enables financial professionals to deepen relationships and offer financial education and resources that are often unavailable to small businesses."

For more information, please visit balancewellbeing.com.