To submit the Group Universal Life Insurance Surrender Form, you can either fax it to 1.877.435.7181 or mail it to the New York Life Group Benefit Solutions at PO Box 14577, Des Moines, IA 50306-3577. Make sure to sign the form and include all necessary information to avoid any delays in processing. For quicker processing, ensure your submission is made before any policy cut-off dates.

Important dates for submitting the Group Universal Life Insurance Surrender Form include financial year-end deadlines and specific policy renewal dates. It is advisable to submit the form at least one month before any significant policy changes or renewals. Check with New York Life for specific cut-off dates in 2024 and 2025.

The Group Universal Life Insurance Surrender Form allows policyholders to request the cancellation of their insurance coverage. This procedure ensures that the rights, privileges, and insurance benefits under the policy are formally terminated. By providing a structured process, the form helps streamline the administrative tasks associated with managing life insurance policies.

• 1. Last Name: The insured individual's last name.
• 2. First Name: The insured individual's first name.
• 3. Middle Initial: The initial of the insured individual's middle name.
• 4. Social Security #: Social Security number for identification.
• 5. Mailing Address: Complete mailing address where correspondence can be sent.
• 6. City: City of residence.
• 7. State: State abbreviation of the insured's residence.
• 8. Zip Code: Postal code for the insured's address.
• 9. Employer Name: Name of the employer associated with the policy.
• 10. Sex: Gender of the insured.
• 11. Date of Birth: Birth date of the insured individual.
• 12. Certificate No.: The insurance certificate number.
• 13. Residence Telephone #: Contact phone number at residence.
• 14. Daytime Telephone #: Contact phone number during daytime.

Failure to submit the Group Universal Life Insurance Surrender Form can result in unintentional continuation of coverage. This means you may miss out on potential cash benefits available from surrendering your policy. It's essential to ensure that your request is submitted correctly and timely.

• Coverage Continues: Insurance coverage remains active without cancellation.
• Financial Impact: Missed opportunity to access cash surrender value.
• Administrative Delays: Potential for delays in processing if form is incomplete or late.

• 1. Surrendering Coverage: When you plan to cancel active life insurance coverage.
• 2. Accessing Cash Value: If you wish to withdraw cash value from your policy.
• 3. Beneficiary Changes: When updating beneficiaries may lead to policy changes necessitating this form.