How we are helping New York state customers
Governor Andrew Cuomo has issued an executive order and a corresponding emergency regulation has been issued by the New York Department of Financial Services (DFS) to assist New York life insurance consumers experiencing financial hardship as a result of the COVID-19 pandemic.
In accordance with Emergency Regulation 216 issued by DFS, Guardian will, effective immediately, do the following for our New York state customers currently facing financial hardship as a result of COVID-19:
- We will extend the policy premium grace period to 90 days for your New York group insurance policies - for example, premium due on 3/1/2020 would have the payment grace period extended to 6/1/2020.
- We will allow you to pay overdue premiums currently in their grace period over a 12-month period if you did not make a timely premium payment due to financial hardship as a result of COVID-19. Download the premium deferment application form (PDF).
- We will extend to 90 days any time limits to exercise rights or benefits that may apply to you or your members under your New York life insurance policy.
- We will allow customers to voluntarily cancel an insurance policy in accordance with its terms.
- We will not impose any late fee related to any late premium payment.
- We will not notify credit reporting or debt collection agencies of late premium payments.
- We will notify our insurance producers and any third-party administrators we do business with about these actions.
The extension of the grace period and rights noted above are currently in effect on a temporary basis, though they may be extended further by Executive Order. Please check the New York Department of Financial Services website for updates1.
If you have any questions, please:
- Contact your insurance broker or agent, or
- Call Guardian at 1-888-GUARDIAN (1-888-482-7342) if you need to discuss alternative payment arrangements. Download the premium deferment application form (PDF).
For additional updates, please visit our resource center, which includes frequently asked questions about Guardian’s response to the COVID-19 pandemic.
