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NYL MY CARE Cost-effective long-term care insurance with NYL My Care
NYL My Care from New York Life Insurance Corporation is a simple way to provide long-term care coverage if you need it in the future. It offers a range of pre-set benefit options and pairs you with a care planner to help you get the kind of care you want.
What NYL My Care offers
We’ll help you choose the right level of coverage based on your budget, the amount of insurance you need, and the benefits you want.1
A range of coverage
If you need long-term care, your policy would cover it at home and/or in a facility, plus care planning, equipment, and inflation protection options
Monthly co-insurance
The policy would cover up to 80% of monthly long-term care costs, which can help to make long-term care coverage more accessible
Discounts available
Partners get a 25% discount (or 10% if just one is approved), and current New York Life customers get 5% off premiums in the first year3
NYL My Care is available in certain states
Select your state below
NYL My Care provides security in many ways
Return of premium
If you die before age 65, the premiums you’ve paid will be returned to your beneficiaries (minus any claims or dividends that were already paid)
Three-year rate guarantee
Your premiums are guaranteed not to increase in the first three years, unless you choose to increase your coverage4
Waiver of premium
After you have met the deductible, this option covers your premium payments while you receive certain benefits5
Care plan benefit
Provides an experienced team that will work with you and your family to create a plan to provide long-term care6
In-home support equipment
Pays for the purchase or rental of devices and technology for in-home care (lifetime maximum of $5,000 total, which may increase if you add inflation protection)
Coverage increases
You may be able to increase the coverage on your policy up to age 70 by paying additional premiums7
Choose from several bundled options with NYL My Care
We offer four levels of coverage to meet almost any budget. Even a modest amount of coverage can help you stay in your home and get the help you may need.
NYL MY CARE COVERAGE LEVELS
|
$50,000 |
$100,000 |
$175,000 |
$250,000 |
|
|
$1,500 |
$3,000 |
$5,000 |
$7,000 |
|
|
$4,500 |
$9,000 |
$15,000 |
$21,000 |
|
|
80% |
80% |
80% |
80% |
Riders (add-ons) to customize your NYL My Care policy10
Shared Pools
Allows partners with identical policies to use benefits from each other’s lifetime maximum benefit after they use all of their own benefits
Inflation Protection
Helps your policy’s benefits to grow over time with increases based on the Consumer Price Index-Urban11 or compound automatic increases (3% or 5%)
Nonforfeiture
An option to continue receiving reduced policy benefits if you decide not to renew your policy
There are more long-term care options in your state
Wondering how NYL My Care fits into your life plan?
An agent can tell you more about covering long-term care
1A policy owner is eligible for benefits when they need continual substantial assistance with two or more of the activities of daily living: dressing, eating, continence, toileting, transferring (getting in and out of a bed or chair), bathing; or they require substantial supervision because of severe cognitive impairment.
2Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
3Discount applies to first year premium only. Discount is available for applicants who own at least one in-force individual life, individual long-term care, individual annuity, or mutual fund policy that was obtained through a New York Life agent.
4We reserve the right to increase rates on a class basis in the future.
5Premium payments are covered only while you are on claim and waiver of premium.
6The care plan benefit can be requested during the process of filing a claim.
7Adding additional coverage in the future is subject to company offers and underwriting approval.
8Bronze level bundled option is not available in South Dakota, Vermont, and Wisconsin.
9The policy lifetime maximum, monthly maximum benefit, and one-time deductible will grow with any applicable inflation protection added to the policy.
10Riders are available at an additional cost. Premiums and available benefits vary based on coverage levels and riders selected.
11The Consumer Price Index-Urban (CPI-U) purchase options inflation protection allows a policy owner to increase their benefits on an annual basis based on the prior-year’s change in the CPI-U rate. Offers to increase coverage are extended annually until/unless the policy owner has declined two previous coverage increase offers. Coverage increases change the policy premium on a move forward basis. The modified premium is based on the new, increased benefit level and also based on the policy owner’s current age.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy forms [ICC18-LTCD PLCY (0218), LTCD PLCY (0218), LTCD-U PLCY (0218), LTCD PLCY (NY) (0218)], and any state-specifics, are issued by 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. The company reserves the right to increase premiums in the future. For costs and complete details of coverage, contact your agent or the company.
This material may not provide complete details regarding all features and benefits offered by a NYL My Care 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.
ICC23-5594859
1A policy owner is eligible for benefits when they need continual substantial assistance with two or more of the activities of daily living: dressing, eating, continence, toileting, transferring (getting in and out of a bed or chair), bathing; or they require substantial supervision because of severe cognitive impairment.
2Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
3Discount applies to first year premium only. Discount is available for applicants who own at least one in-force individual life, individual long-term care, individual annuity, or mutual fund policy that was obtained through a New York Life agent.
4We reserve the right to increase rates on a class basis in the future.
5Premium payments are covered only while you are on claim and waiver of premium.
6The care plan benefit can be requested during the process of filing a claim.
7Adding additional coverage in the future is subject to company offers and underwriting approval.
8Bronze level bundled option is not available in South Dakota, Vermont, and Wisconsin.
9The policy lifetime maximum, monthly maximum benefit, and one-time deductible will grow with any applicable inflation protection added to the policy.
10Riders are available at an additional cost. Premiums and available benefits vary based on coverage levels and riders selected.
11The Consumer Price Index-Urban (CPI-U) purchase options inflation protection allows a policy owner to increase their benefits on an annual basis based on the prior-year’s change in the CPI-U rate. Offers to increase coverage are extended annually until/unless the policy owner has declined two previous coverage increase offers. Coverage increases change the policy premium on a move forward basis. The modified premium is based on the new, increased benefit level and also based on the policy owner’s current age.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy form LTCD PLCY (CA) (0218) is issued by 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. For costs and complete details of coverage, contact your agent or the company.
This material may not provide complete details regarding all features and benefits offered by a NYL My Care 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.
5594859 (CA)
1A policy owner is eligible for benefits when they need continual substantial assistance with two or more of the activities of daily living: dressing, eating, continence, toileting, transferring (getting in and out of a bed or chair), bathing; or they require substantial supervision because of severe cognitive impairment.
2Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
3Discount applies to first year premium only. Discount is available for applicants who own at least one in-force individual life, individual long-term care, individual annuity, or mutual fund policy that was obtained through a New York Life agent.
4We reserve the right to increase rates on a class basis in the future.
5Premium payments are covered only while you are on claim and waiver of premium.
6The care plan benefit can be requested during the process of filing a claim.
7Adding additional coverage in the future is subject to company offers and underwriting approval.
8Bronze level bundled option is not available in South Dakota, Vermont, and Wisconsin.
9The policy lifetime maximum, monthly maximum benefit, and one-time deductible will grow with any applicable inflation protection added to the policy.
10Riders are available at an additional cost. Premiums and available benefits vary based on coverage levels and riders selected.
11The Consumer Price Index-Urban (CPI-U) purchase options inflation protection allows a policy owner to increase their benefits on an annual basis based on the prior-year’s change in the CPI-U rate. Offers to increase coverage are extended annually until/unless the policy owner has declined two previous coverage increase offers. Coverage increases change the policy premium on a move forward basis. The modified premium is based on the new, increased benefit level and also based on the policy owner’s current age.
The purpose of this material is solicitation of individual insurance. An insurance agent or advisor may contact you. Policy form LTCD PLCY (FL) (0218) is issued by 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. The company reserves the right to increase premiums in the future. To be eligible for long-term care benefits, the insured must be a chronically ill individual, with qualified long-term care services 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 a NYL My Care 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.
5594859 (FL)
1A policy owner is eligible for benefits when they need continual substantial assistance with two or more of the activities of daily living: dressing, eating, continence, toileting, transferring (getting in and out of a bed or chair), bathing; or they require substantial supervision because of severe cognitive impairment.
2Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
3Discount applies to first year premium only. Discount is available for applicants who own at least one in-force individual life, individual long-term care, individual annuity, or mutual fund policy that was obtained through a New York Life agent.
4We reserve the right to increase rates on a class basis in the future.
5Premium payments are covered only while you are on claim and waiver of premium.
6The care plan benefit can be requested during the process of filing a claim.
7Adding additional coverage in the future is subject to company offers and underwriting approval.
8Bronze level bundled option is not available in South Dakota, Vermont, and Wisconsin.
9The policy lifetime maximum, monthly maximum benefit, and one-time deductible will grow with any applicable inflation protection added to the policy.
10Riders are available at an additional cost. Premiums and available benefits vary based on coverage levels and riders selected.
11The Consumer Price Index-Urban (CPI-U) purchase options inflation protection allows a policy owner to increase their benefits on an annual basis based on the prior-year’s change in the CPI-U rate. Offers to increase coverage are extended annually until/unless the policy owner has declined two previous coverage increase offers. Coverage increases change the policy premium on a move forward basis. The modified premium is based on the new, increased benefit level and also based on the policy owner’s current age.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy form LTCD PLCY (NY) (0218) is issued by 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. The company reserves the right to increase premiums in the future. For costs and complete details of coverage, contact your agent or the company.
This material may not provide complete details regarding all features and benefits offered by a NYL My Care 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.
5594859 (NY)
1A policy owner is eligible for benefits when they need continual substantial assistance with two or more of the activities of daily living: dressing, eating, continence, toileting, transferring (getting in and out of a bed or chair), bathing; or they require substantial supervision because of severe cognitive impairment.
2Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
3Discount applies to first year premium only. Discount is available for applicants who own at least one in-force individual life, individual long-term care, individual annuity, or mutual fund policy that was obtained through a New York Life financial professional. A ‘Partner’ is another individual who resides in the same Home with Insured and shares living expenses; and with whom the insured is: legally married; in a committed relationship that has been documented in a valid certificate, license, civil union, or domestic partnership that exhibits an intent to remain in a lifelong relationship, or in a committed domestic relationship for the most recent 3 years and that relationship is intended to be lifelong. Insured and their Partner must not be: in any other legally recognized or committed relationship with another individual; separated or divorced at the time they applied for this Policy; or related in any way that would prohibit marriage in the state where they live. Discount can only be added up to twelve months after policy issue.
4We reserve the right to increase rates on a class basis in the future.
5Premium payments are covered only while you are on claim and waiver of premium.
6The care plan benefit can be requested during the process of filing a claim.
7Adding additional coverage in the future is subject to company offers and underwriting approval.
8Bronze level bundled option is not available in South Dakota, Vermont, and Wisconsin.
9The policy lifetime maximum, monthly maximum benefit, and one-time deductible will grow with any applicable inflation protection added to the policy.
10Riders are available at an additional cost. Premiums and available benefits vary based on coverage levels and riders selected.
11The Consumer Price Index-Urban (CPI-U) purchase options inflation protection allows a policy owner to increase their benefits on an annual basis based on the prior-year’s change in the CPI-U rate. Offers to increase coverage are extended annually until/unless the policy owner has declined two previous coverage increase offers. Coverage increases change the policy premium on a move forward basis. The modified premium is based on the new, increased benefit level and also based on the policy owner’s current age.
The purpose of this material is solicitation of individual insurance. An insurance agent may contact you. Policy form LTCD PLCY (NY) (0218) is issued by 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. The company reserves the right to increase premiums in the future. For costs and complete details of coverage, contact your agent or the company.
This material may not provide complete details regarding all features and benefits offered by a NYL My Care 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.
5594859 (MT)