"Through the Long-Term Care Options Program from New York Life, AARP members now have access to agents who provide guidance about protecting assets and family members, if in need of long-term care," said Larry Flanagan, President and CEO, AARP Services Inc. "This benefit allows members to prepare for the many uncertainties that accompany longer life-spans."
Though most Americans do not believe they will need long-term care, in reality, 70 percent of those turning age 65 will use some form of long-term care during their lives. Coverage can benefit families who want to protect their loved ones, lifestyle and assets; retirees and pre-retirees who want to preserve the money they have saved; and individuals who may not have someone to care for them, or significant assets to pay for the costs.
"AARP members have long counted on sound advice and outstanding customer service when they work with New York Life, and we are pleased to be building on that track record with long-term care options," said Don Salama, senior vice president, New York Life. "The program is off to a great start proving that New York Life and AARP together are trusted sources for Americans seeking financial protection."
AARP Long-Term Care Options Program from New York Life can be found at the AARP Member Advantages website, AARPadvantages.com. AARP Member Advantages is a collection of products, services and discounts from third party companies available to AARP members.
ABOUT NEW YORK LIFE
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 www.newyorklife.com for more information.
AARP is a nonprofit, nonpartisan organization, with a membership of nearly 38 million that helps people turn their goals and dreams into 'Real Possibilities' by changing the way America defines aging. With staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP works to strengthen communities and promote the issues that matter most to families such as healthcare security, financial security and personal fulfillment. AARP also advocates for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name. As a trusted source for news and information, AARP produces the world's largest circulation magazine, AARP The Magazine and AARP Bulletin. AARP does not endorse candidates for public office or make contributions to political campaigns or candidates. To learn more, visit www.aarp.org or follow @aarp and our CEO @JoAnn_Jenkins on Twitter.
ABOUT AARP SERVICES INC.
AARP Services Inc., founded in 1999, is a wholly-owned taxable subsidiary of AARP. AARP Services manages the provider relationships for and performs quality control oversight of the wide range of products and services that carry the AARP name and are made available by independent providers as benefits to AARP's millions of members. The provider offers currently span health products, financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; credit cards, auto and home, mobile home and motorcycle insurance, life insurance and annuities; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services and legal services. AARP Services also engages in new product development activities for AARP and provides certain consulting services to outside companies.
*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/17/16. For methodology, please see http://fortune.com/fortune500/
**Individual independent rating agency commentary as of 8/09/16
***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.
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SOURCE AARP Services Inc.