New York Life has announced the launch of Balance Wellbeing, its new financial wellbeing offering.
The new offering provides access to holistic financial guidance and support designed to address employees’ financial challenges. Balance Wellbeing is currently available to eligible Group Benefit Solutions and Business Solutions clients for New York Life.
“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 platform partners with fintech firms on personalized financial wellness and provides access to one-on-one guidance from New York Life financial professionals.
Among the features offered with the Balance Wellbeing platform include a financial health assessment, financial education including live seminars and webinars, and financial support based on an employee’s FinHealth score, provided by New York Life.
“Employers are increasingly seeking solutions to support their employees’ holistic wellbeing, which we are proud to enable with the introduction of Balance Wellbeing,” said Meghan Shea, vice president of distribution for New York Life Group Benefit Solutions. “Balance Wellbeing provides resources and capabilities that will enable employers to help their employees understand and address a full range of financial wellness needs. Balance Wellbeing integrates digital resources and assessment capabilities with human consultation, demonstrating our commitment to providing solutions designed to meet people where and how they want.”
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
