New York Life has reached an agreement with AARP to exclusively offer long-term care solutions to AARP’s 37m members.
The arrangement is designed to make it easier for AARP members to get easy protection against the cost of long-term care, while ensuring that they receive personalised guidance before making a purchase.
Go deeper with GlobalData
According to the terms of the deal, AARP members who respond to the new marketing effort will be referred to a specially-trained, licensed New York Life agent who can help them develop a tailored coverage plan.
New York Life executive vice president and agency head Mark Pfaff said: "This agreement with AARP is a step forward in helping more people plan against the uncertainties that increasing life spans can bring, which is a critical and unmet need for millions of Americans.
"Our 12,000 agents work every day to help people understand the solutions available to help pay for long-term care, and we are pleased that AARP’s 37 million members will have easy access to their guidance and expert advice."
New York Life will provide a package of solutions under "AARP Long-Term Care Options", which will include long-term care insurance, a permanent life insurance product with long-term care features, and whole life insurance with a chronic care rider. This lets the policy owner accelerate a portion of the face amount to fund chronic care expenses.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataNYL Direct, a division of New York Life based in Florida, will manage the new programme, which is expected to launch in Q1 2016.
