Results for "long-term care"

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End of pension tax breaks would pay for 'stupid stuff,' says ASPPA boss

October 29, 2012

On the eve of Hurricane Sandy's arrival in Washington, D.C., the American Society of Pension Professionals and Actuaries announced Sunday it is launching a lobbying initiative designed to protect tax deferrals for worker contributions to employer-sponsored...

Employer-sponsored health benefits for retirees dying out

October 24, 2012

Employees are managing expectations in retirement as employers yank back health benefits for retirees. Data from the Employee Benefits Research Institute showed that in 1997, 10.2% of private-sector employers provided health insurance to Medicare-eligible...

IRS hikes tax break for LTCI premiums

October 18, 2012

Next year, filers to the Internal Revenue Service will be able to deduct more from their federal taxes for long-term-care insurance premiums. In order to qualify, the insurance contract must be guaranteed renewable and must not provide for a...

Credit-worth of Genworth gets worse, nears junk

October 11, 2012

Genworth Financial Inc., the insurer seeking a chief executive officer, was downgraded by Standard & Poor's as the economic slump pressures earnings. The rating was cut one step to BBB-, the lowest investment- grade level, as Genworth faces...

Advisers tread lightly when talking with clients about LTC

October 7, 2012

Financial pressures weighing down the long-term-care insurance industry are forcing advisers to broach the touchy subject of higher premiums and less comprehensive benefits with clients. Companies that sell LTCI coverage are feeling the stress...

The other Alzheimer's tragedy

September 30, 2012

Ethelle Lord cared for her husband, Larry Potter, at home for the first 10 years that he suffered from Alzheimer's disease. She quit her job, modified their home to make it safe and cut back on expenses, including groceries and gasoline. Ms....

Health of long-term-care insurance business questionable: Moody's

September 19, 2012

Long-term-care insurance continues facing pressure on several fronts, particularly as the market consolidates and payouts for in-force contracts rise. The field of LTCI providers is shrinking as companies exit the business or limit their sales....

Old-age question: Are LTC policies good deals for younger clients?

September 6, 2012

Advisers know full well that only a small percentage of long-term-care policies are sold to people under 45. But what they may not know is that when those contracts are tapped at a young age, the benefits can be substantial. About 3.5% of those...

Why LTC insurance is a better bet for women

August 28, 2012

Long-term-care insurance often is a better investment for women than men because they live longer and more often spend their final years living alone, experts said. It's also a better financial deal, at least for now. “If you can only afford...

Mary Beth Franklin: One surefire way to sabotage a retirement plan

July 19, 2012

Kevin McGarry, director of the Nationwide Institute, which provides the latest research and best practices on retirement income to institutions and practioners, says one of the hottest topics in today's marketplace is how to plan for healthcare...

Pru pulls plug on another long-term-care product

July 19, 2012

Prudential Financial Inc. has pulled the plug on its long-term-care insurance business, ending sales of group policies Aug. 1. The insurer announced Wednesday afternoon that it will discontinue sales of new group LTCI policies starting in August...

Genworth latest to rein in LTC insurance offerings

July 8, 2012

Genworth Financial Inc. will suspend sales of lifetime benefits for its long-term-care insurance products, as well as “10-pay” versions of those offerings. The announcement was made to producers July 1 and originally reported by the Chicago...

Genworth latest to rein in LTC insurance offerings

July 5, 2012

Genworth Financial Inc. will suspend sales of lifetime benefits for its long-term- care insurance products, as well as “10-pay” versions of its LTCI product. The announcement was made to producers Friday, July 1, and originally reported...

Nursing homes bleed assets dry: Study

June 15, 2012

Staying in a nursing home is bad for your financial health. Very bad. A recent analysis by the Employee Benefit Research Institute shows that receiving care in a nursing home drastically depletes assets. Using data from a health and retirement...

Decision not to liquidate LTC insurer could leave policyholders up the creek

May 10, 2012

After three years of legal battles, a judge in Pennsylvania has barred state insurance regulators from liquidating troubled long-term-care insurer Penn Treaty. The end effect on policyholders, however, could be ugly. In a May 3 decision, Commonwealth...

Start now with end-of-life discussions: Expert

May 7, 2012

Financial advisers can play a vital role in helping clients with advance medical directives, said Susan Fox, a lawyer in private practice who focuses on end-of-life issues. Advisers can "step forward and fill the space that has been left open...

Advisers short-sighted about long-term care

May 1, 2012

Apparently, the best way to get a client thinking about long-term care is to turn the attention on family members. Few clients — particularly male ones — think seriously about the possibility that they could require care in a nursing home...

Bought for $881, this LTCI policy's paid out $1.7M

April 23, 2012

Though few people are thrilled about jaw-dropping premiums for long-term-care insurance, the clients with the highest claims in the nation are darn lucky they had the coverage. Insurance companies shelled out some $6.6 billion in LTCI benefits...

'Transformative events' shape client's financial thinking, survey finds

March 19, 2012

Even a solid income and respectable household net worth aren't always enough to keep investors from worrying about the future, according to the results of a new survey. A Citibank study of more than 600 U.S. adults with household incomes of...

Long-term-care insurance suddenly short on sellers

March 8, 2012

Advisers were left with one less long-term care insurer when Prudential Financial Inc. backed away from the individual LTCI business on Wednesday. Though the carrier will continue selling group LTCI coverage, its exit from the individual side...

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