Archive

2015 long-term care planning outlook: Washington

The safest predictions to make for the private long-term care insurance (LTCI) market are that interest rates will stay low, people will keep getting old, and policymakers will continue to be cold. Insurers are conducting reserve reviews that may lead to more scrutiny from Wall Street. But, on the other hand, to quote Warren Buffett, “Be... Read more…

Youngest boomers turn 50 this year

With December coming to a close, the youngest of the baby boomers will turn 50 this year. As they have at each stage of their lives, this group born between 1946 and 1964 will exert a tremendous force upon the face of retirement as we know it. Old assumptions need to quickly give way to... Read more »
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4 Things to Include in Your Long-Term Care Plan

Most people plan to live a long life, but not everyone has a plan for if they do live a long life. Personal finance experts say that within your retirement budget, money should be allotted for a long-term care plan. That is, a strategy to help you manage your day-to-day living if you become infirmed... Read more »
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11 questions about the hybrid market answered

LifeHealthPro senior editor Warren S. Hersch recently interviewed two executives with Lincoln Financial Group: Mike Hamilton, vice president of product development for Lincoln Financial’s MoneyGuard Solutions; and Steve Schoonveld, head of Linked Benefit Products. The interview explored hybrid or linked benefit solutions — permanent life insurance policies with riders covering long-term care and chronic illness... Read more…

Nursing Home Style

My 87-year-old mother, Milli, had a serious stroke a few weeks ago that put her in a wheelchair, and now I am shopping for her nursing home wardrobe. The nursing home has given me a list, suggesting clothing that is “comfortable, casual and easily laundered.” Name tags will be added there. I guess it is... Read more »
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Older Women and Challenges of Wealth

During her 35-year marriage, Jill DeVaney earned significantly less than her husband, a television executive, but always handled the family finances. So when the couple divorced in 2012, splitting assets worth “several million dollars,” she said, “I knew where the money was.” Now a semiretired interior designer in Chicago, Ms. DeVaney, 63, has hired a... Read more…

Critical Illness Coverage: An Alternative To Clients’ Most Pressing Concerns

With the implementation of the health insurance exchanges, critical illness coverage can provide a supplement to consumers who are insured under a basic bronze level plan which will cover 60 percent of the costs of essential health benefits. Individuals on the bronze plan may consider supplemental critical illness plans as an inexpensive opportunity to fill gaps in... Read more…

Medicare vs. Medicare Advantage: How to Choose

Decoding health insurance options can be daunting for people age 65 and over. Those who have paid 10 years of Social Security taxes qualify for Medicare at age 65. They’re automatically signed up if they’re receiving Social Security payments, unless they take steps to opt out. Standard Medicare comes in two parts: A and B. Part... Read more…

LTC outreach group looks at critical illness planning

A long-term care (LTC) planning awareness group will be using the Long-Term Care Awareness Month campaign as a chance to talk about the need for critical illness planning. The 3in4 Association will be releasing two television commercials for the LTC awareness campaign, which starts in November, and is hoping television stations will use the commercials in public... Read more…