Long-term care

Underwriting is necessary for both the life insurance policy and the LTC Riders of each product above. A medical exam is generally not required, but may be necessary in certain situations.

The purpose of this material is the solicitation of insurance and an agent may contact you.

The products and / or certain features may not be available in all states.

1. Single Premium Whole Life insurance, (SPWL-2013, ICC13SPWL and ICC13SPWL in North Carolina, SPWL-NY-2019 and SPWL-FL-2021), is a participating, permanent single premium life insurance policy issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. For costs and further details of LTC Rider coverage, including exclusions and reductions or limitations, contact Fidelity at 866-489-0963 for a referral to an insurance agent/producer.

2. Limited Payment Whole Life insurance (MMCCWL-2019, and ICC19-MMCCWL in certain states, including North Carolina) is a participating, permanent, level-premium life insurance policy issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. For costs and further details of LTC Rider coverage, including exclusions and reductions or limitations, contact Fidelity at 866-489-0963 for a referral to an insurance agent/producer.

3. Varies based on the insured and the minimum face amount of $40,000 (minimum face amount varies in some states).

4. Dividends are not guaranteed. Eligible whole life policy dividends may be used to extend the length of time that the long-term care benefit is available.

The LTC Riders are intended to be a federally tax-qualified long-term care insurance contract under Section 7702B(b) of the Internal Revenue Code, as amended. Therefore, any long-term care benefits paid under the LTC Riders are generally received income tax free and a portion of the premium paid for the LTC Riders may be deductible from gross income for federal income tax purposes.

Benefit payments received under the LTC Riders for Covered Services may be taxable if you receive benefit payments under other long-term care insurance coverage for the same services. You should carefully consider other long-term care coverage you may have before accessing benefits under the LTC Riders. Consult your tax advisor.

Most CareChoice One policies will be Modified Endowment Contracts (MECs), which means that any distributions from the policy (including dividends paid in cash or accumulated at interest, full or partial surrenders, or policy loans) are taxable to the extent of gain in the policy and are subject to a 10% tax penalty if the policyowner is under age 59½. In general, the only non-MEC CareChoice One policies are those predominantly funded via a tax-free exchange from a non-MEC life insurance policy under Internal Revenue Code Section 1035.

Most CareChoice Select policies will not be MECs, unless any portion of the first year premium is funded via tax-free exchange from a policy that is a MEC. A tax-free exchange from a non-MEC policy could cause some CareChoice Select policies to be MECs. This is generally not the case for non-smoker CareChoice Select policies.

Taking loans or distributions from your policy will reduce the death benefit payable and long-term care benefit available. In addition, long-term care benefits will reduce the policy death benefit and Policy Surrender Value.



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The purpose of this material is the solicitation of insurance and an agent may contact you.

The products and/or certain features may not be available in all states.

1. This is dependent on Return of Premium Option selected and only eligible once all premiums have been paid.

2. The purpose of this material is solicitation of insurance. An insurance agent may contact you. Policy forms [AF-SP & AF-SLTC, AF-MP & AF-MLTC], and any state-specific, are issued by New York Life insurance and Annuity Corporation, Newark, DE, a wholly owned subsidiary of New York Life Insurance Company. Premiums also vary by issue age, gender and underwriting risk class. Policy issue is subject to underwriting. A medical exam may be required. The policies have exclusions and limitations. For cost and complete details of the coverage, contact your agent or the company.

3. Greater of $10,000 or premium required to buy minimum face amount of $24,000 for 2 Year LTC Acceleration duration or $36,000 3 Year LTC Acceleration duration. In SD, greater of $10,000 or premium required to buy minimum face amount of $72,000 for 2 Year LTC Acceleration duration or $108,000 3 Year LTC Acceleration duration.

4. Pay-to-65 available for issue ages 30-59; 5-pay available for issue ages 30-75; 10-pay available for issue ages 30-70; and 15-pay available for issue ages 30-65.

5. Family member, other than immediate spouse, gets paid 50% of the monthly benefit up to a certain max limit, when taking care of the insured.

New York Life Asset Flex is issued by New York Life Insurance and Annuity Corporation, a wholly owned subsidiary of New York Life Insurance Company, which is not affiliated with any Fidelity Investments company. This product is distributed by Fidelity Insurance Agency, Inc. A contract's financial guarantees are solely the responsibility of and are subject to the claims-paying ability of the issuing insurance company.

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