Linked-Benefit Portfolio

New York Life Introduces Asset Flex, A Flexible Linked-Benefit Life/LTCi Product

Flexible Payment Options, Instant Leverage for Covered Long-Term Care Benefits and Death Benefit, and a Money Back Guarantee

NEW YORK, Sept 5, 2017 — New York Life, America’s largest mutual life insurer, today introduced New York Life Asset Flex, a new way for consumers to plan for their financial needs later in life while protecting their retirement savings.

Asset Flex is a universal life insurance policy that allows acceleration of life insurance for long-term care services as well as an additional pool of long-term care benefits, plus a money-back guarantee.*

A single premium Asset Flex buyer who is 60 years old—a typical age for buyers—will have immediate access to long-term care benefits worth close to five times the premium used to fund the policy, and to life insurance benefits worth more than one and a half times the premium used to fund the policy. Buyers older than sixty will receive slightly less benefits for the same premium while younger buyers will receive slightly more benefits for the same premium.

Here’s one example of how Asset Flex works**

A buyer pays $100,000 to purchase Asset Flex. In return, the insured has access to up to $461,695 for covered long-term care services and/or $153,898 in life insurance protection. This coverage pays for long-term care in case the insured needs qualified care, the life insurance benefit if they don’t, or both if they need a limited amount of care. Even if all of the benefits are eventually used for long-term care expenses, the insured’s beneficiaries still receive ten percent of the original life insurance benefit when the insured passes.

“Providing so much value in one product is what we are most excited about with the launch of Asset Flex. Not only does this product offer valuable long-term care coverage, it also provides important life insurance protection that guarantees the policy owner will receive meaningful benefits for the assets they repositioned. It helps them prepare for the future and removes some of the financial concerns that come with aging, while they retain access to their premium if needed,” said Mohammad T. Reza, Corporate Vice President, New York Life.

Asset Flex also offers:

  • Flexible payment options – one-time premium, or policy owner can elect to pay an annual premium over 5 or 10 years
    Premium as low as $10,000
  • Immediate access to long-term care and life insurance policy benefits at issue even if the policy owner elects to pay premium over time
  • Full suite of long-term care insurance benefits from home care to nursing facilities
  • Money back guarantee, with the possibility of accumulating interest over time
  • Tax advantages – client’s cash accumulates interest which is tax deferred, and any death benefit and/or long term care benefits paid from the policy are generally tax free
Even if all of the benefits are eventually used for long-term care expenses, the insured’s beneficiaries still receive ten percent of the original life insurance benefit

“New York Life is proud to offer this important linked-benefit product,”added Aaron Ball, Vice President, New York Life, “which along with our stand alone long-term care product and our Chronic Care rider on our whole life policy, provides a comprehensive suite of long-term care solutions to meet consumer needs. We are the only insurer offering this mix of LTC planning products, reinforcing our commitment to meeting the long term care needs of consumers,”




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 ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).**** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments***** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at for more information.
*Guarantee is available as long as no policy loans or partial surrenders have been made, no benefits have been used towards long-term care, and all planned premiums have been paid.
**Hypothetical example based on 60-year-old married female, best risk class, six years of total LTC benefit duration, couples discount, $100,000 single premium with vested Return of Premium. The total pool of money available for paying the death benefit and long-term care benefit depends on the initial premium, age, gender, risk classification, and any policy loans or partial surrenders made from the cash value.
***Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/12/17. For methodology, please see
****Individual independent rating agency commentary as of 7/27/17.
*****New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.