NEW YORK, N.Y., April 21, 2009 – New York Life Insurance Company announced today it will pay a dividend to its LTCSelect Premier long-term care insurance policyholders this year. This is the fifth consecutive year New York Life, a triple-A rated insurer1 , has paid a long-term care insurance dividend.
“Now more than ever Americans are looking to protect themselves and their families by purchasing long- term care insurance and are attracted to the quality, safety and financial security that New York Life, a triple-A rated mutual insurer, provides,” said Mike Gallo, senior vice president, Long Term Care. “The ability to pay a dividend to our policyholders in the current economic environment sends a strong message that New York Life’s mutual structure keeps us uniquely aligned with our policyholders, focusing on long-term value and stability for our customers.”
New York Life declared its first dividends to long-term care insurance policyholders in 2005. LTCSelect Premier policyholders qualify for the dividend payment when they reach their third policy anniversary. LTCSelect Premier policies are available in all 50 states. Dividends are not guaranteed and are subject to approval by the Board of Directors.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments2 provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
Visit New York Life’s Web site at http://www.newyorklife.com for more information.
1 New York Life is rated AAA from Standard & Poor’s, Aaa from Moody's Investor Services, AAA from Fitch, and A++ from A.M.Best for financial strength. Source: Individual Third Party Ratings Reports (as of March 17, 2009).
2 New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
Rating: 4.6/5 (21 votes cast)
|New York Life To Pay Long-Term Care Insurance Dividend For The Fifth Consecutive Year|