Compare New York Life Long-Term Care Insurance
When it comes to long-term care insurance, there can be a significant difference between policies. Features and options can vary. Acceptable health conditions can vary. Prices and available discounts can vary (sometimes quite a lot more than you might think).
The typical long-term care insurance policy is between 40 and 50 pages of policy provisions, legal definitions, conditions and clauses. We can't attempt to cover all the details here ... and policies can vary by state. We are merely attempting to address some of the questions often asked by consumers considering long term care insurance protection.
After reading the information here, if you have questions or want to speak with a specialist, please call the Association offices at (818) 597-3227.
Or, you can click the REQUEST A QUOTE box. Complete the form. We will share your information with ONLY ONE specialist.
New York Life Long Term Care Insurance Company - Some Key Facts
Genworth Financial is a Fortune 500 insurance holding company that was spun off as a separate business from General Electric Co. in 2004. Currently, Genworth is the largest provider of long-term care insurance policies in the U.S. According to the Association's 2014 LTC Sourcebook, Genworth has some 1,235,142 policies in force which is about 17 percent of the market (NAIC, 2011 Covered lives).
In 2013 Genworth sold approximately xx,xxx long term care insurance policies (AALTCI estimates). In 2014, the company will sell about xx,ooo new policies. Genworth likely pays more long term care insurance claims than any other insurer.
New York Life Ratings (Always subject to change)
| A.M. Best | Standard & Poor's | Moody's |
| A | BBB+ | A3 |
Compare Costs New York Life Long Term Care Insurance
The following is merely a 'snapshot' of two common situations.
Single Woman, Age 57 - Initial benefit=$164,000, No Inflation Growth
| New York Life | Company A | Company B |
| $ | $ | $ |
Married Couple, Ages 61/60 - Initial benefit=$164,000, 3% Compound Inflation Growth
| New York Life | Company A | Company B |
| $ | $ | $ |
PRICING DIFFERENCES - New York Life policies may offer pricing advantages.
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PRICING DIFFERENCES - New York Life policies may be more expensive .
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DISCOUNT DIFFERENCES - New York Life policies may offer these valuable discounts
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DISCOUNT DIFFERENCES - New York Life policies MAY NOT offer these valuable discounts.
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HEALTH CONDITION DIFFERENCES - these conditions could result in an applicant paying a higher premium or being declined for coverage
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Long-Term Care Insurance
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