A financial services giant is redesigning some of the long term care insurance products it sells in New York state.

The company, MetLife Inc., New York, has started offering New York State Partnership for Long-Term Care insurance policies that let purchasers choose between a Total Asset Protection policy and a Dollar-for-Dollar Asset Protection policy.

All LTC partnership policies give purchasers of qualified LTC insurance policies the ability to protect some assets if the purchasers run out of private LTC benefits and must turn to Medicaid for help.

MetLife’s new Total Asset Protection policy can protect all of an insured’s assets, and the Dollar-for-Dollar policy protects assets up to the amount of benefits paid, MetLife says.