New York Life Long Term Care Insurance Review
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New York Life is an insurance company that offers a wide range of services including long term care insurance. An exclusive long term care options provider with AARP, New York Life has several plans that reimburse policyholders' long-term care costs. The care options range from assisted living facilities to nursing home coverage and in-home care.
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Customer Comments & Reviews
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Mary Parker, you are incorrect. NY Life has passed 2 rate increases onto their existing policyholders averaging 40% each. The new policy NYL Secure Care AARP brought into the marketplace April 2016 is a an absolute ripoff.
NY Life AARP sells the most expensive long term care insurance policy in the country. It is an exceptionally awful value for women. Buyer beware. http://longtermcareinsurancepartner.com/blog/new-york-life-long-term-care-insurance-rating-and-review
We have had our policies for a very long time. 100/day benefit with lifetime benefit. I am 80 & my husband is 85. Our premiums are about $1250/year & have not had a premium increase to date. Hopefully we never have to use the benefits - but it is insurance if & when needed. Our neighbors have just been faced with a 50% increase from their provider - $4458 - with a 6 year limit. Does not seem that NYL is most expensive as indicated by another reviewer.
The New York Life Secure Care long term care insurance policy is the most expensive policy by far in the marketplace. The New York Life insurance costs are 2x-3x higher than other policies for the same benefits. Avoid. Run away from the captive NY Life/AARP sales agents.