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Does NY Life Long-Term Care Insurance Cover Assisted Living?
Date Updated: July 26, 2024
Written by:
With over a decade of dedicated experience, Andrea Miller boasts an extensive background in healthcare writing and editing. Her expertise spans various facets of the healthcare industry, with a particular focus on nursing, senior care, Alzheimer’s disease, and public health. Andrea has also contributed her editorial talents to reputable publishers in the Philadelphia region, complementing her extensive freelance work.
Reviewed by:
Kristi Bickmann, a licensed Long-Term Care Specialist, represents top-rated "Traditional" & "Hybrid" LTC companies. Serving associations such as the American Nurses Association, she's a licensed insurance agent in 27 states. Specializing in insurance products for seniors, Kristi helps hundreds of families every year protect assets, retirement, and loved ones. She understands aging concerns firsthand, having assisted her own parents. Kristi ensures accuracy on topics about senior long-term care and its consequences.
What LTC insurance plans are available through NY Life?
LTC insurance plans available through NY Life include My Care, Secure Care and Asset Flex. My Care covers up to 80% of LTC costs, pays dividends and provides discounts for spouses who purchase policies together. Secure Care pays up to $250 per day toward assisted living care, depending on the exact plan.
Asset Flex is a hybrid life and LTC insurance product from NY Life. You pay one premium that includes both a payout to your beneficiaries and the option to cover assisted living or another form of LTC.What does LTC insurance coverage typically include?
Most LTC insurance providers begin paying the assisted living benefit when you file a claim showing that you need help with two or more activities of daily living, such as dressing and bathing. Your health care provider must attest that you can’t do these things yourself for medical reasons.