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NEW YORK, N.Y., November 8, 2006 — According to the results of a study commissioned by the New York Life Long-Term Care Division, the average cost for nursing home care in the U.S. climbed significantly in 2006.

Costs for both private and semi-private care were 6% higher than in 2005. The average cost of a private room with a single occupant climbed to $204 dollars a day, or $74,445 per year. Non-private rooms, based on double occupancy, rose to an average of $180 dollars a day, or $65,700 a year. Nationwide, the average private room rate increased by $11 per day, or $4,015 per year. The average semi-private room rate rose by $10 per day, or $3,650 per year.

Top Five U.S. Regions with Greatest Cost for Private Nursing Home Care in 2006

Alaska – $388 per day
Connecticut (Southern) – $366 per day
Connecticut (Connecticut Valley) – $323 per day
New York (Hudson Valley) – $311 per day
New York (New York City area) – $311 per day

As the average life expectancy increases, due in part to medical advancements and improved health care, the demand for nursing home beds will likely intensify. According to the Bureau of Labor Statistics, a healthy couple in their mid-60s have a 50% chance that one spouse will live beyond his or her 91st birthday.

“Many people assume Medicare will pay for these nursing home residences, but the truth is that the portion Medicare covers is quite narrow and costs are rapidly rising in most U.S. regions,” said Dennis O’Brien, first vice president, Long Term Care, New York Life. “Consumers must begin to prepare now for the possibility that they may require these facilities at some point in their lives. With New York Life’s financial strength and focus on long-term value and stability, we are able to offer long-term care insurance products that can help consumers plan for a more secure future.”

CareScout conducted the 2006 survey in partnership with New York Life. The study included more than 2300 nursing homes across 90 Metropolitan Statistical Areas (MSAs) throughout the U.S., which corresponded with the locations of New York Life’s General Offices. The study was conducted by telephone during August and September 2006. The study also identified the regions with the largest price decrease for private and semi-private care from the year before, as well as the geographic areas with the lowest cost of nursing home care in 2006.

New York Life Insurance Company is the only insurer currently in the market to declare a dividend on its long–term care insurance products. Please note that dividends are not guaranteed. In 2006, the dividend was paid to LTCSelect Premier policyholders with policies that have been in-force for 3 years in the form of a decrease in their next premium payment.

Since 1988, New York Life has offered long-term care insurance driven by the dual goals of financial stability and product innovation. Consumers may learn more about New York Life and long-term care insurance at www.newyorklifeltc.com. For more information, please contact marketing@newyorklifeltc.com or call 800–224–4582.

About CareScout
Located in Wellesley, Massachusetts, CareScout helps Americans in every state find quality care providers at preferred rates. Large employers, insurance companies, risk underwriters and families rely on CareScout’s proprietary quality of care ratings systems, discount network and database of more than 90,000 nursing homes, assisted living facilities and home care agencies.

About New York Life
New York Life Insurance Company is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, annuities and long–term care insurance. New York Life Investment Management LLC provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

NEW YORK, N.Y., September 6, 2006 — New York Life Insurance Company has announced the introduction of Family Protection Insurance1 – a comprehensive family life insurance plan that can meet families’ changing needs over time, all in one simple term policy.

Designed to serve younger families that often lack adequate insurance coverage, Family Protection Insurance covers both parents under one policy and gives them the ability to increase their level of coverage without requiring further proof of insurability. In addition, any increase in insurance coverage is calculated at the same premium rate that was offered when the policy was initially purchased.

“With September being Life Insurance Awareness Month, this is a perfect time for families to take stock of their insurance coverage. This innovative new product may be just the thing many families need to get started with an insurance program to protect their future,” said Scott Berlin, senior vice president, Individual Life Department, New York Life. “Young couples and hardworking families often recognize the need for life insurance planning and coverage, but the complexities of finding the right policy can be daunting. Family Protection Insurance provides one-stop shopping, making life insurance simple and accessible for the entire family.”

Family Protection Insurance offers a wealth of benefits, including:

Coverage for both adults, including domestic partners;
Ability to increase face amounts without proof of insurability;2
Conversion privileges for adults and children;
Dependent child insurance;
Maximum face amount is $500,000 per adult3 ; and
An additional $200,000 death benefit.4

“Research indicates that one out of every three middle-class families feel they need more life insurance coverage5,” Mr. Berlin added. “Life insurance should be part of every family’s financial plan. Our goal is to offer an inclusive, flexible, and convenient way for families to obtain insurance coverage that can evolve to meet their needs. Backed by the financial strength of New York Life, Family Protection Insurance can provide the security and peace of mind of quality life insurance coverage while minimizing the hassle and confusion of finding the right policy.”

New York Life Insurance Company continues to be among the highest rated institutions by each of the four major independent rating agencies for financial strength: A.M. Best (A++), Fitch (AAA), Moody’s Investor Services (Aaa) and Standard & Poor’s (AA+). Source: Individual Third Party Ratings Reports (as of July 18, 2006).

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, annuities and long-term care insurance. New York Life Investment Management LLC provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

1This product is currently not available in all jurisdictions.
2Both adult insureds are able to increase face amounts every two years without underwriting; face amount increases are calculated on an original age premium rate per $1,000.
3Ability to have up to $1 million of coverage per adult; total coverage between Family Protection Insurance and amount converted to permanent coverage cannot exceed $1million per adult.
4$200,000 extra death benefit available if both adults die within the first ten years.
5LIMRA study, “The Forgotten Middle Market,” June 18, 2003.

NEW YORK, N.Y., September 5, 2006 — New York Life Insurance Company is partnering with the Life and Health Insurance Foundation for Education (LIFE) to sponsor the third annual Life Insurance Awareness Month this September, a comprehensive public awareness campaign to promote the importance of life insurance.

With industry statistics reporting that 68 million adult Americans have no life insurance, Life Insurance Awareness Month was created to help educate consumers of the benefits of life insurance and the financial protection it brings to families.

Sy Sternberg, chairman and chief executive officer of New York Life Insurance Company said, “Over 10,000 New York Life agents work in local communities across the country bringing families and businesses financial security through the purchase of life insurance. This industry-wide effort builds on the work of our agents and brings even more attention to the importance of life insurance. We are proud partners of LIFE and Life Insurance Awareness Month.”

“Life Insurance Awareness Month has made significant strides in getting the word out about the need for life insurance, but there is still more to do with many Americans still lacking adequate protection,” said Phil Hildebrand, vice chairman, New York Life Insurance Company. “New York Life now offers life insurance products that allow consumers to choose how long to pay premiums and to set up a stream of income in retirement, providing important options to families. Offering consumers these types of innovative products to meet their needs is one way to ensure more families have the financial protection that only life insurance provides.”

New York Life Insurance Company is one of more than 100 companies and trade groups committed to promoting Life Insurance Awareness Month. New York Life plans to support the industry-wide awareness campaign with advertising and additional outreach to agents and policyholders.

The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.life-line.org.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, annuities and long-term care insurance. New York Life Investment Management LLC provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.