NEW YORK – New York Life Insurance Company may be kicking off a new insurance trend with the inclusion of an inflation rider on its long term care policy LTCSelect Premier. The Benefit Increase Option Rider is based on the Urban Consumer Price Index and the company says by providing a level of protection that matches a policyholder’s actual needs, it is insuring that policyholders either don’t pay for inflation that never occurs or that they don’t buy a product with inflation protection that falls short of actual increases in future price levels. The future premiums for this protection are locked in at the time the policy is acquired. Although long-term care generally impacts consumers in their 70s and 80s, more insurance companies are marketing these policies to people under the age of 50. NY Life has filed for a patent on the concept.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.