New York Life today announced the launch of the Long-Term Care Center, a new online portal for long-term care insurance policy owners, becoming one of the first life insurers to offer a digital tool to support the long-term care claims process.
“The launch of the Long-Term Care Center reinforces our commitment to delivering innovative, accessible long-term care solutions and new, easier ways for policy owners to engage with us,” said Aaron Ball, SVP, Head of Insurance Solutions, Service and Marketing, New York Life. “By providing our agents and policy owners with the ability to manage policies and initiate and monitor a long-term care claim online, we can enhance the customer experience and increase transparency for policy owners and their families needing to access policy benefits.”
Powered by LTC administrator LTCG, the Long-Term Care Center is available to New York Life policy owners who sign-on to the MyNYL online service platform on newyorklife.com. With this new tool, policy owners can now start an LTC claim, track an eligibility decision, review submitted and paid claims, view policy benefits, and update basic demographic information. New York Life and LTCG will continue to expand available features including policy owner service capabilities and the ability to “go-paperless” with e-correspondence over the coming months.
In addition to policy management, policy owners can also access resources to preserve independence and simplify their claims experience including:
- Find Care: a proprietary database of more than 100,000 providers
- Library: articles, checklists, videos and tip sheets
- Cost of Care: an interactive map comparing costs of long-term care
- Partners: access to customized recommendations for partners offering age-in-place solutions
“LTCG is proud to partner with New York Life to make the Long-Term Care Center available to its policy owners and agents,” according to Peter Goldstein, CEO, LTCG. “This powerful digital tool is just one example of our commitment to investing in industry-leading solutions that enable insurers to improve the customer experience for the people they serve.”
For more information and to access to the Long-Term Care Center, visit www.newyorklife.com and log in to your account.
About New York Life
New York Life Insurance Company (www.newyorklife.com), 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. 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 has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/18/2020. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 9/12/2019: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
LTCG is the leading provider of administrative solutions and clinical services to the long term care and life insurance industry, with over two decades of experience in this space. LTCG currently manages over one million policies and serves more than 100 carriers nationwide. The company addresses all types of customer needs and policy requirements—from application processing and underwriting of new business to claims and administration of open and closed blocks. LTCG’s advanced data analytics, actuarial and risk management capabilities and unmatched industry expertise can help organizations manage their business and develop emerging products such as hybrid life/long term care policies. LTCG also helps carriers bend the cost curve through innovative provider solutions and wellness programs. For more information, visit www.LTCG.com.