Industry needs more expertise in long-term care, adviser says Long-term care can be a big issue for retirees and their families, but many advisers lack the in-depth knowledge necessary to steer clients through the planning and implementation of the expenses, says Thomas West, an adviser with Signature Estate & Investment…
Claims payouts by private long-term-care insurers totaled $7.85 billion last year, a 5% increase over 2013, according to a report from the American Association for Long-Term Care Insurance. National Underwriter Life & Health (2/25)
Pa. panel issues recommendation on LTC-planning education The Pennsylvania Long Term Care Commission’s final report features a recommendation that more education is needed to make people aware of long-term-care planning options, with a goal of getting more people to buy LTC insurance. National Underwriter Life & Health (2/11)
LTC planners have hope in 2015 and beyond, expert says Among the positives that economist Kulli Tamm of Swiss Re cites for long-term-care planning are insurers’ efforts to design better and more stable LTC products and the potential for interest rates to rise. National Underwriter Life & Health (12/22)
Expert: Insurers must play key role in helping boomers as they age Insurers need to play a key role in helping baby boomers with their future needs for long-term care, says Andrew Melnyk of the American Council of Life Insurers. Some insurers have curtailed their sales of stand-alone long-term-care products,…
Expert: Financial advisers need to stress LTCI to baby boomers Financial advisers need to stress the importance of long-term-care insurance to baby boomers, says Andrew Melnyk of the American Council of Life Insurers. InsuranceNewsNet online (12/9)
Commentary: 2 reports shouldn’t be seen as arguments against LTCI Americans use nursing home care for shorter periods than previously thought and Medicare pays more for that care than expected, two research papers indicate. The research is not an argument against buying long-term-care insurance, Allison Bell writes, because it did…
Group works to provide standard actuarial data for LTC planning The Society of Actuaries says it will gather long-term-care claims data from several companies for 2000 through 2011. The group plans to develop standard tables for claim terminations and incidence related to LTC insurance and benefits use. National Underwriter Life…
Report: LTC providers likely to face 5% higher liability costs next year Long-term-care liability costs for providers are expected to rise to $2,030 per bed on average in 2015, according to a report by the American Health Care Association/National Center for Assisted Living and Aon Global Risk Consulting. Costs differ…
Commentary: How to overcome sluggish LTC insurance sales The reasons why sales of long-term-care insurance are down as much as 32% this year is that people perceive the industry as being in trouble and that rate increases appear more severe than they are, writes Barbara Stahlecker of Premier Senior Marketing….
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