A northeastern-based mutual insurer announced that it will pay a dividend to certain policyholders.

New York Life Insurance Co., New York, says it will pay a quarterly dividend to its LTCSelect Premier long-term care insurance policyholders this year.

This marks the 6th consecutive year in which New York Life has paid an LTC insurance dividend, the company says.

The mutual insurer declared its first dividends to LTC insurance policyholders in 2005. LTCSelect Premier policyholders qualify for the dividend payment when they reach their third policy anniversary, the company says.