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.
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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.
CORRECTION: The headline for an earlier version of this article gave an incorrect description of what New York Life is paying.