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ASSET FLEX Long-term care plus life insurance with Asset Flex
Having insurance is about being prepared, and Asset Flex from New York Life Insurance and Annuity Corporation goes further by combining long-term care and universal life insurance. This unique offering from New York Life covers help with everyday activities, if you need it, or a death benefit if you don’t.
What a linked-benefit combination of life insurance and long-term care offers
If you ever need help with activities such as eating, bathing, or dressing, Asset Flex covers it for up to seven years. We’ll also help you set up a financial payout for your family if you don’t use the long-term care benefit.
Flexible benefits
Covers either long-term care for you or a death benefit for your loved ones; beneficiaries may receive a small payout even if you use the long-term care benefits.
Financial advantages
Whether you choose to pay the entire premium up front or in installments, you’ll create a pool of money that grows while taxes are deferred.
Return of premium
If you decide to cancel your policy, you have the option to choose from a partial, vested, or full return of premium as long as the payments are up to date and no benefits have been withdrawn.1
Asset Flex is available in all states
Select your state below
Find out more about Asset Flex at newyorklife.com/asset-flex-ca
Asset Flex can protect your savings and help your family to prosper
A woman who is 55 years old and a nonsmoker might pay a one-time $50,000 premium for an Asset Flex policy.2 Depending on how her needs evolve, her policy could provide a return of premium, long-term care coverage, or a death benefit for her beneficiaries.
$50,000
one-time premium
To purchase the policy, which can be returned to her for a full or partial refund if she cancels her policy (plus any gains, if applicable).
$336,153
long-term care benefit
Maximum available to cover the cost of care she might need. Even if she uses all of this benefit, her heirs will also receive a residual life insurance benefit of about $10,000 after she dies.
$112,051
life insurance benefit
Amount to be paid to the policy owner’s heirs after her death if she does not use the long-term care benefit during her lifetime.
Interested in traditional long-term care insurance?
Want to see how Asset Flex fits with your existing coverage?
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1Guarantees are based on the claims paying ability of the issuer. The vested return of premium option will pay based on the vested schedule. Guarantee is available as long as all planned premiums have been paid and is reduced for any partial withdrawals, long-term care benefit payments, and outstanding loan balances (including loan interest).
2Hypothetical example as of April 2023. Rates and benefits are subject to change. Life insurance applications are subject to underwriting. Different rate classes are available.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy forms [ICC14-LTC6, LTC6, LTC6-U, ICC18-LTCD PLCY (0218), LTCD PLCY (0218), LTCD-U PLCY (0218)], and any state-specifics, are issued by New York Life Insurance Company, New York, NY. Policy forms [ICC20-AF-MP, ICC20-AF-SP, AF-MP, AF-SP], and any state-specifics, are issued by New York Life Insurance and Annuity Corporation, Newark, DE, a wholly owned subsidiary of New York Life Insurance Company, New York, NY. These policies have exclusions and limitations. The amount of benefits and premium depend on the product options selected. Underwriting approval is required to purchase coverage and a medical exam may be required. Premiums vary by issue age. The company reserves the right to increase premiums in the future on policy forms [ICC14-LTC6, LTC6, LTC6-U, ICC18-LTCD PLCY (0218), LTCD PLCY (0218), and LTCD-U PLCY (0218)]. For costs and complete details of the coverage, contact your agent, or the company. New York Life Insurance Company and New York Life Insurance and Annuity Corporation each have sole financial responsibility for their own products.
This material may not provide complete details regarding all features and benefits offered by an Asset Flex policy. In all cases, actual policy language will govern the administration of the contract. Benefits may vary by state. Check with your agent for specifics.
ICC23-5341410
1Guarantees are based on the claims paying ability of the issuer. The vested return of premium option will pay based on the vested schedule. Guarantee is available as long as all planned premiums have been paid and is reduced for any partial withdrawals, long-term care benefit payments, and outstanding loan balances (including loan interest).
2Hypothetical example as of April 2023. Rates and benefits are subject to change. Life insurance applications are subject to underwriting. Different rate classes are available.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy forms AF-MP-CA and AF-SP-CA are issued by New York Life Insurance and Annuity Corporation, Newark, DE, a wholly owned subsidiary of New York Life Insurance Company, New York, NY. These policies have exclusions and limitations. The amount of benefits and premium depend on the product options selected. Underwriting approval is required to purchase coverage and a medical exam may be required. Premiums vary by issue age. For costs and complete details of the coverage, contact your agent or the company.
This material may not provide complete details regarding all features and benefits offered by an Asset Flex policy. In all cases, actual policy language will govern the administration of the contract. Benefits may vary by state. Check with your agent for specifics.
5341410 (CA)
1Guarantees are based on the claims paying ability of the issuer. The vested return of premium option will pay based on the vested schedule. Guarantee is available as long as all planned premiums have been paid and is reduced for any partial withdrawals, long-term care benefit payments, and outstanding loan balances (including loan interest).
2Hypothetical exampleas of April 2023. Rates and benefits are subject to change. Life insurance applications are subject to underwriting. Different rate classes are available.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy forms AF-SP-NY and AF-MP-NY are issued by New York Life Insurance and Annuity Corporation, Newark, DE, a wholly owned subsidiary of New York Life Insurance Company, New York, NY. These policies have exclusions and limitations. The amount of benefits and premium depend on the product options selected. Premiums vary by issue age. Underwriting approval is required to purchase coverage and a medical exam may be required. For costs and complete details of the coverage, contact your agent or the company.
This material may not provide complete details regarding all features and benefits offered by an Asset Flex policy. In all cases, actual policy language will govern the administration of the contract. Benefits may vary by state. Check with your agent for specifics.
5341410 (NY)
1Guarantees are based on the claims paying ability of the issuer. The vested return of premium option will pay based on the vested schedule. Guarantee is available as long as all planned premiums have been paid and is reduced for any partial withdrawals, long-term care benefit payments, and outstanding loan balances (including loan interest).
2Hypothetical example as of April 2023. Rates and benefits are subject to change. Life insurance applications are subject to underwriting. Different rate classes are available.
The purpose of this material is solicitation of individual insurance. An insurance agent or advisor may contact you. Policy forms AF-MP-FL and AF-SP-FL are issued by New York Life Insurance and Annuity Corporation, Newark, DE, a wholly owned subsidiary of New York Life Insurance Company, New York, NY. These policies have exclusions and limitations. Underwriting approval is required to purchase coverage and a medical exam may be required. The amount of benefits and premium depend on the product options selected. Premiums vary by issue age, gender, and underwriting risk class. The policy cannot be canceled, non-renewed, or otherwise terminated on the grounds of age or deterioration of your physical or mental health. To be eligible for long term care benefits, the insured must be a chronically ill individual, with qualified long-term care service provided pursuant to a plan of care prescribed by a licensed health care practitioner. For costs and complete details of the coverage, contact your agent, advisor or the company.
This material may not provide complete details regarding all features and benefits offered by an Asset Flex policy. In all cases, actual policy language will govern the administration of the contract. Benefits may vary by state. Check with your agent for specifics.
5341410 (FL)