NU Online News Service, May 13, 4:15 p.m. – Transamerica Life Insurance Company of New York, Purchase, N.Y., is now selling the TransGenerations Long-Term Care Insurance Policy.
The New York State Partnership for Long Term Care has approved the policy for use in conjunction with its private LTC insurance incentive program.
The New York partnership program gives state residents an incentive to buy private LTC coverage. The program lets residents who buy approved policies keep some of their assets, even if they run out of private benefits and seek Medicaid assistance.
Transamerica Life is a unit of AEGON N.V., The Hague, Netherlands.