Seniors who face the possibility of lapsing or surrendering a life insurance policy can exchange the policy on secondary markets to help pay for long-term care, writes Chris Orestis of GWG Life and Life Care Funding. The proceeds from selling a policy can be used to fund a long-term-care benefit…
Younger workers could enhance their retirement readiness not just through saving more and working longer, but also with the help of policy changes, say researchers with State Street Global Advisors. Such updates could include changes to Social Security to allow partial withdrawals and longer deferral of benefits, as well as…
Brendan McCarthy of investment management firm Nuveen urges advisers to review any target-date funds they have in place in light of the Department of Labor's fiduciary rule. He points out that funds that were added to retirement plans a decade ago may now be inappropriate. Financial Advisor online
Despite the volatility of some current annuity sales statistics, in the long term, annuity products will be greeted with strong demand, analysts say. Insurance company executives note that, with Americans living longer and looking for guaranteed income, demographic trends are favorable to the annuity business. InsuranceNewsNet online
Although economic losses from natural disasters are typically recovered because rebuilding stimulates growth, the timing of hurricanes Harvey and Irma likely will affect the Federal Reserve's plan to increase interest rates in December. US GDP growth is expected to be reduced in the third quarter because of Harvey, Barclays economists…
The NAIFA Board of Trustees has activated the NAIFA Hurricane Relief Fund to provide financial assistance to insurance and financial advisers affected by Hurricane Harvey's widespread destruction and flooding in Texas and Louisiana. NAIFA will allocate $10,000 to the fund. Make donations, and read more on the Advisor Today Blog.
People rarely think they will find themselves in need of urgent, long-term health care, but advisers should encourage their clients of any age to complete a health care power of attorney, writes Amy Florian. Florian lists three steps that are essential to the process. WealthManagement
Hurricane Harvey has demonstrated the need for advisory firms to have contingency plans in place for such emergencies, writes columnist Danielle Andrus. Advisers who have been affected by such natural disasters offer tips, including storing documents in the cloud and keeping a supply of cash on hand. ThinkAdvisor (free registration)
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