REIMBURSEMENT NOW AVAILABLE TO FAMILY MEMBERS WHO LIVE WITH THE CLIENT.
NEW YORK, March 24, 2016—To help more people prepare financially for the future, New York Life is introducing its next generation long-term care insurance product, NYL Secure Care. NYL Secure Care is designed to enable policyholders to benefit from the company's mutuality and policy performance through a valuable dividend1 feature, while offering more choice and flexibility in the type of care they receive and where they receive it.
“NYL Secure Care offers people both the confidence that comes from working with a company with unsurpassed financial strength and the ability to share in our success through any declared dividends,” said Aaron Ball, vice president, New York Life Long-Term Care Business. "NYL Secure Care also recognizes that loved ones are often the first ones to provide help for those who need care. Policyholders can use their benefits to reimburse family caregivers, even those who live with them, and more Americans can get the care they need at home without placing an undue financial hardship on family members. This is the type of product that consumers need, want and can use to help them remain at home with their family.”
With NYL Secure Care, the client becomes dividend eligible in year 11 and by the time they retire in 20 or 30 years, the dividends declared have the potential to significantly offset the premium resulting in little or no out-of-pocket premium.
Some additional benefits of NYL Secure Care include:
Policy options and riders include:
Additionally of note, the AARP Long-Term Care Options Program from New York Life is being launched to 37 million AARP members this month. Through the program, AARP members may be referred to a specially-trained, licensed New York Life agent who can help them develop tailored coverage for many of their long-term care needs, including guidance around the NYL Secure Care long-term care insurance product.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States6 and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s & (AA+).7 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 Investments8 provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.