New York Life to pay the long-term care insurance dividend f

 

Wednesday, Apr 22,2009, 10:36:56 AM   Click:

NEW YORK - (BUSINESS WIRE) New York Life Insurance Company announced today that it will pay a dividend to its LTCSelect First long-term care policyholders insurance this year. This is the fifth consecutive year, New York Life, a triple-A rated insurer1, paid a long-term care insurance dividend.

"Now more than ever, Americans seek to protect themselves and their families by buying long-term care insurance and are attracted by the quality, safety and financial security as New York Life , a triple-A rated mutual insurance provides, "said Mike Gallo, Senior Vice President, Long Term Care. "The ability to pay a dividend to our policyholders in the economic environment today sends a strong message that New York Life mutual structure allows us to better aligned with our policyholders, with an emphasis on value long-term stability for our customers. "

New York Life declared its first dividend to long-term care insurance policies in 2005. First LTCSelect policyholders qualify for the dividend payment when they reach their third birthday. First LTCSelect policies are available in 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 rating of all four major credit rating agencies. Based in New York City, New York, the family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments2 offers institutional asset management and retirement plan services. Other New York Life affiliates provide an array of products and services of securities, institutions and mutual funds.