Editorial: Clients need guidance on long-term care Discussing long-term-care options with clients is an uncomfortable topic for many, but it’s a conversation clients and advisers need to have, this editorial argues. InvestmentNews (free registration) (11/17)
November ClientCast podcast: “Long Term Care: One of the Greatest Risks We Face” Long-term care is one of the greatest risks we face that could jeopardize our retirement security. Join NAIFA ClientCast this month with guest Jesse Slome, executive director of the American Association for Long-Term Care Insurance, and learn…
Experts: Group whole life coverage evolves to meet LTCI needs Most long-term-care insurance is being sold on an individual basis, and many companies that have written group long-term-care policies are withdrawing from the market, according to experts. “But a whole life product with a long-term-care rider is available on a…
Help clients plan for elder care Many families avoid planning for elder care, and advisers who help clients understand the importance of planning can help them avoid mistakes and missteps later. Families should organize elders’ financial and health information and have a list of advisers. Families should determine who will…
Survey: Many consumers incorrectly think Medicare pays for LTC More than half of respondents to a Bankers Life and Casualty survey said they expect to rely on Medicare to pay for their long-term-care needs, even though the program usually won’t pay for care in nursing homes or assisted-living facilities. Only…
Study examines why more people don’t buy LTCI Nearly two-thirds of people 40 and older have thought little about long-term care, according to a study commissioned by the SCAN Foundation. Having private long-term-care insurance was more likely among people who are more educated, and agents need to consider several factors…
Study: LTC misconceptions are common among middle-income boomers Middle-income boomers underestimate by half the cost of a year in a nursing home and overestimate the hourly rate of in-home health aides by more than twice the actual cost, while many said they were unable to guess at such costs, according…
Congressional commission studies long-term-care options A congressional commission is scheduled to release a report by October with options for financing a sustainable long-term-care system. Rising long-term-care costs along with a low policy lapse rate and a high policy utilization rate have made the market more difficult for insurers. A Scan…
LTCI premium increases face regulatory evaluation Groups and regulators are looking at how companies are increasing premiums for long-term-care insurance. A National Association of Insurance Commissioners task force is studying the issue, and carriers could receive bulletins setting state guidelines for how older LTCI policies’ rates can be set, according…
Commentary: Discuss LTCI with clients in their 40s Advisers should be educating younger customers, including those in their 40s, about long-term-care insurance, writes Jeannie Holliday of Independent Financial Services. A major reason for this is the increased difficulty of getting such coverage later in life, she writes. The Wall Street…
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