Commentary: LTCI market must focus more on younger people Most people who seek long-term-care insurance are approaching retirement age, which makes it hard to spread the risk and price the product, writes Maria Ferrante-Schepis of Maddock Douglas. Following the life insurance model could attract younger buyers, but it might also…
Commentary: Outlook is bright for LTCI options Options are plentiful for Americans to ensure that they have the long-term-care coverage they need in retirement, Tom Riekse Jr. writes. Long-term-care plans with a life insurance component and LTCI linked to an annuity are among the key types of coverage in the…
LTCI industry expected to pay billions in claims by 2032 The nation’s long-term-care-insurance companies are expected to pay $15 billion annually to policyholders a decade from now and more than twice that amount in 2032, when today’s 60-year-olds reach their 80s. “Long-term-care insurance plays an increasingly important role paying for…
Coming soon: News on 401(k) contribution cap for 2014 The Internal Revenue Service could announce next week the maximum contribution an employee can make in 2014 to a 401(k) retirement savings plan, benefit consultant Mercer said. The announcement was delayed by the shutdown of the federal government. Business Insurance (tiered…
Commentary: Opportunities abound to sell LTCI in the workplace Workers at 5.8 million small and midsize businesses in the U.S. aren’t offered long-term-care insurance as an employee benefit, Jeff Sadler writes in this book excerpt. Insurance professionals can tap into this market by emphasizing the benefits to employers of offering…
Commentary: Personal service, in some form, will remain in the digital world It’s likely that more investors will turn toward self-service as financial technology becomes easier and more accessible for consumers, JP Nicols writes. But a large segment will continue to seek the help of experienced advisers, albeit with new…
Small retirement plans offer advisers big opportunities Financial advisers who think small retirement plans aren’t worth their time would be wise to think again, writes Tom Donnelly, regional vice president of sales at Principal Financial Group. Calculations by the Small Business Administration and Economy.com indicate 127,000 new plans will be…
Steps advisers can take to achieve a better online presence The digital age has given financial advisers’ clients a tremendous hunger for information, and advisers need to ask themselves whether they have done enough to provide that information, writes Ron Carson, CEO of Carson Wealth Management Group. “If you can’t…
Advisers’ value lies in clarifying clients’ needs, goals The key value from seeing a financial adviser is to help clients avoid common mistakes and understand the rationale behind investment plans, behavioral finance expert Daniel Crosby says. Advisers can simplify financial information and pass along what is relevant to each client,…
Avoid overwhelming clients with too many priorities Giving clients a long list of financial goals with the suggestion that they should be able to achieve all of them can be overwhelming and can lead to inaction, writes Michael Kitces. A better approach is to help clients choose what’s most important…
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