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New York Life adds indemnity cash option to Asset Flex hybrid plan
The indemnity option pays a monthly cash benefit after a policyholder qualifies, with coverage that can include international nursing home care and a zero-day waiting period for facility care in eligible cases.
New York Life has added an indemnity benefit option to Asset Flex, its hybrid product that combines long-term care coverage with universal life insurance, giving customers a choice between reimbursement-style payments and a cash benefit model.
Under the indemnity option, policyholders receive a monthly cash benefit once they qualify for a claim, regardless of the actual eligible expenses incurred, and the insurer says the approach may better support costs such as family caregiver help, transportation, and home modifications.
New York Life also said the indemnity option includes extended international coverage for qualifying nursing home care and a zero-day waiting period for facility care when eligible home care services have already been received.
Asset Flex is available in most states through New York Life financial professionals and registered investment advisors. Separately, the insurer previously said it expects to pay an estimated $2.8 billion in dividends to eligible participating policyowners in 2026, and it has invested nearly $2 billion in Affirm collateral through asset-backed securitizations, according to the company’s latest disclosures.