New York Life introduces NYL Secure Care, a new long-term care insurance product with industry leading dividend opportunity.

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:

• Family and friends can receive caregiver training to become qualified to provide care.
• Family and friends can then qualify to be financially reimbursed for care they provide ²
• Claimants can make eligible home modifications, which may make it possible to stay in their homes longer.
• Family and friend caregivers may qualify for caregiver relief, which would assist with temporary care if/when the caregiver needs/wants a rest.
• In addition to benefits for care received at home, eligible expenses are reimbursable for several types of facility care options such as adult day care, assisted living facility or nursing home. 

Policy options and riders include:

• Waiver of premium, which eliminates premiums when a client is on claim.
• Legacy benefit rider, which returns all paid premium to the estate, minus any claims, when the policyholder dies.³
• Inflation protection options to help the policy keep pace with the increasing costs of care.⁴
• Shared care rider, which creates three pools of money for clients to draw down on as the need arises.⁵ 

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. 

¹ Dividends are not guaranteed and are subject to the Company s Board of Directors’ approval. The dividend is applied to the premium due for the policy.

² This excludes partner/spouse.

³ Available for an additional cost.

⁴ ibid

⁵ ibid

⁶ Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/15/15. For methodology, see http://fortune.com/fortune500/.

⁷ Individual independent rating agency commentary as of 8/11/15.

⁸ 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