Report: LTC policy often can pay much of care costs Most long-term-care insurance policies, including those with somewhat diminished buying power after many years, should be able to cover the bulk of costs for home care and assisted-living stays, as well as at least half of the cost of nursing…
NAIFA touts Long-Term Care Awareness Month A NAIFA blog post discussed why the association’s members need to learn about long-term-care planning, and the group’s New Mexico chapter had a proclamation signed by the governor to recognize Long-Term Care Awareness Month. National Underwriter Life & Health (11/12)
Hybrid policies can cover LTC needs at lower cost, experts say Hybrid life insurance policies can be a less-expensive way to cover at least some long-term-care and critical-illness needs, say Mike Hamilton and Steve Schoonveld of Lincoln Financial Group. The products are gaining interest among advisers and are evolving to…
Commentary: Agents need thorough LTCI knowledge to help clients Agents must have detailed knowledge about the cost of long-term care to ensure that clients have the right level of coverage, Eileen Tell and Mike Bell write. A range of factors can influence the daily benefit amount, and home-care benefits and…
Commentary: Combo annuities can help with long-term-care costs An annuity that is combined with a long-term-care feature is an efficient way to prepare for high health care costs in retirement, one that has several advantages over a straight long-term-care policy, Bob Carlson writes. Unspent money can be passed to heirs,…
Va. regulator proposes altering regulations on LTCI rates The Virginia State Corporation Commission has made proposals regarding its rate regulations for long-term-care insurance. The proposed changes include giving the commission the power to hold hearings on proposed rate increases, requiring greater justification for rate increases sought by insurers, and providing…
Commentary: Advisers shouldn’t overlook annuities, LTC insurance Advisers often fail to discuss the products their clients may need the most, Adam Cufr writes. Guaranteed-income annuities, longevity insurance and long-term-care policies, for example, “are too often ignored in favor of accumulation-focused methods that are much more comfortable to advisors,” he writes….
Commentary: Annuities can ease the cost of long-term care Advisers can help clients cope with the high cost of long-term care by introducing them to leveraged products that combine long-term-care coverage with annuities or life insurance, writes Van Mueller. “These leveraged products can provide 2 to 3 times the single…
Commentary: Insurers need to redesign LTCI for changing market The market for long-term-care insurance has shifted significantly over the past two decades, but most LTCI products haven’t, write Carl Ghiselli and Brad Rokosh of Ernst & Young. Among the steps insurers can take to improve policies are providing products geared…
Commentary: LTCI can be a “lifetime gift” for parents Paying for a long-term-care insurance policy for parents can be a meaningful “lifetime gift,” writes Robert Klein of the Retirement Income Center. Doing so can provide peace of mind and ensure the children won’t have to take on the responsibility if…
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