New York Life Insurance Company says it will pay a dividend for the fifth straight year to holders of its long term care insurance policies.

New York Life declared its first LTC policy dividends in 2005, to owners of its LTCSelect Premier product. Policyholders receive the dividend payment in the form of a reduction of their next premium payment after they reach their third policy anniversary.
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CORRECTION: The headline for an earlier version of this article gave an incorrect description of what New York Life is paying.