Transamerica Life Insurance Company of New York Announces TransGenerations Long-Term Care Insurance Policy Approved for Use With the New York State Partnership for Long Term Care

Business Wire, May 13, 2002

Business Editors

PURCHASE, New York--(BUSINESS WIRE)--May 13, 2002

Continuing its strong tradition of helping New Yorkers protect their hard-earned assets and preserve their choices in long-term care, Transamerica Life Insurance Company of New York announces its TransGenerations(R) Long-Term Care Insurance Policy approved for use with the New York State Partnership for Long Term Care. (Hereinafter, "TransGenerations Partnership Policy")

With innovative policy design, attractive discounts and helpful payment options, the policy provides consumers with flexible, affordable protection. As with the Transamerica Life Insurance Company of New York's other traditional, individual long-term care product, the TransGenerations Partnership Policy helps give consumers the financial security to live in dignity, despite illness or injury.

"The Center for Long-Term Care Financing reports that 77 million Baby Boomers are heading toward retirement. Long-term care insurance can be a vital part of their financial plans," said Andrew D. Dastur, CLU, CFP, Vice President Sales and Marketing.

Transamerica Life Insurance Company of New York is also proud to be part of the New York State Partnership for Long-Term Care. This innovative program provides coverage for long-term care expenses by allowing residents of New York to protect their assets while remaining eligible for Medicaid if their long-term care needs exceed the period covered by their private insurance policy.

Interested consumers should contact their local Transamerica Life Insurance Company of New York agent, or call 1-800-PYRAMID.

Transamerica Life Insurance Company of New York is a member of the AEGON Insurance Group.

TransGenerations Individual Long-Term Care Insurance Policy (Form LTC 304-198-NY) and TransGenerations Partnership Policy (Form LTC 304-198-NYP) are issued by Transamerica Life Insurance Company of New York. Home Office: 100 Manhattanville Road, Purchase, NY. Administrative Office: 2705 Brown Trail, Bedford, Texas 76021.