Results for "long-term care"

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States try to beat back rate increases on long-term-care policies

September 13, 2018

States have taken steps to limit the drastic rate increases plaguing the long-term-care insurance market, leading some experts to suggest that these insurance policies are worth a second look for financial advisers and consumers. More than three...

Genworth raises long-term-care insurance costs an average 58%

August 9, 2018

Genworth Financial Inc. received approval from state regulators this year to raise costs an average 58% on some long-term-care insurance policies, affecting tens of millions of dollars' worth of annual insurance premiums the company receives...

New ways to estimate and fund long-term care costs

July 5, 2018

Nothing strikes fear in the heart of retirees more than the three letters: LTC. The potentially crushing costs of long-term care in a nursing home, memory care unit or even at home — most of which are not covered by Medicare — can easily...

Building Blocks of Special Needs Financial Planning

October 16, 2017

Long-term special needs financial planning can be challenging, especially with the complex legal and governmental issues surrounding disability. The wrong decision might create a tax burden or render a child with special needs ineligible for...

Mass Mutual to hike some LTC premiums by 77%

May 16, 2018

Some 54,000 holders of long-term care insurance policies issued by Mass Mutual Life Insurance face premium hikes of about 77%, according to a request the carrier has made to state regulators asking for the increase. The company has about 72,000...

How advisers can ride the 'wave of opportunity' of aging clients

July 23, 2018

People are living longer than ever, but how can they live better? That's the question Joseph Coughlin is trying to answer at Massachusetts Institute of Technology's AgeLab, which Mr. Coughlin founded and directs. In his book "The Longevity Economy:...

GE's long-term-care insurance woes are symptomatic of ailing industry

February 9, 2018

The long-term-care insurance industry is struggling, and executives and analysts have seized on General Electric Co.'s recent travails to illustrate the point. Nearly a month ago, General Electric Co. disclosed a $6.2 billion charge associated...

Insurers becoming more stringent with long-term-care policies

May 11, 2018

Insurers are getting pickier about who qualifies for a long-term-care insurance policy — good news for the long-term health of an otherwise ailing industry, but potentially bad news for clients who find it harder to qualify for coverage. Companies...

Retirement Income Summit 2013 Mary Beth Franklin: Home schooling long-term care

May 13, 2013

Dr. Carolyn McClanahan, both a medical doctor and CFP, admits she is a minimalist when it comes to seeking medical care. And when it comes to long-term care, she has a unique vision of how and where she would like to receive assistance as she...

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...

Longevity is the best reason to invest in LTC

December 21, 2017

A majority of the population is going to need long-term care someday. It's seldom easy, however, to convince clients that they should protect themselves with LTC insurance just when they're enjoying a healthy middle age, with more immediate...

Consumer-driven care falls flat

January 29, 2007

WASHINGTON — Americans with consumer-driven health plans are less satisfied with their health care than those with more-comprehensive coverage, according to a study released last month by the Employee Benefit Research Institute and The Commonwealth...

The road to retirement just got rockier

April 3, 2016

Insurance companies finally are accepting that interest rates are not likely to increase substantially in the foreseeable future and are pushing up the costs of some key forms of insurance — long-term care coverage in particular — which...

Prudential to bail on sales of individual long-term care

March 7, 2012

Prudential Financial Inc., the second-biggest U.S. life insurer, said it will halt the sale of individual long-term care policies, joining rivals in retreating from the industry. The company will continue to offer group long-term care insurance,...

Long-term-care insurance market sees rapid decline

July 21, 2016

The traditional long-term-care insurance industry is in a difficult spot. Sales have dropped precipitously over the past several years, due to factors outside insurance companies' control — such as persistently low interest rates and demographic...

State of the long-term care insurance industry

November 30, 2017

Everyone, it seems, has a caregiving story. That's because the challenges of growing older affect us all. As a son and husband, I experienced this firsthand caring for my own family. My wife is now confronting the challenges of caring for her...

Genworth to pay $219M to settle securities lawsuit related to long-term-care insurance

March 14, 2016

Genworth Financial Inc. has settled a class-action lawsuit alleging misrepresentations over its long-term-care insurance business for $219 million. Genworth, the largest long-term-care insurance carrier, announced after the market close on Friday...

Genworth debuts new annuity for long-term-care coverage

February 22, 2016

Genworth Financial, the largest provider of traditional long-term-care insurance in the U.S., on Monday debuted an annuity product that marks a new way the firm can deliver LTC coverage to consumers. The launch follows Genworth's announcement...

John Hancock ceases sales of traditional long-term-care insurance policies

November 10, 2016

John Hancock Life Insurance Co. announced Thursday that it will discontinue the sale of individual long-term-care insurance policies starting next year, in yet the most recent blow to an industry that's struggled to overcome the barriers of...

What advisers need to know about popular long-term-care products

October 26, 2015

Traditional long-term-care insurance and combination life insurance-LTC policies are the primary products through which advisers look to secure LTC benefits for clients. But there are subtle differences between them that advisers should be aware...

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