Nearly 18 million older adults, or nearly half of everyone 65 and older, report that they need some assistance with routine daily activities. That’s significantly more than generally believed and suggests that the burden on families and the overall care system may be much greater than previously thought. According to a new study by Vicki Freedman of... Read more…
The majority (62%) of America’s middle-income cancer survivors say they were not financially prepared for cancer diagnosis and treatment, according to a new study released by the Washington National Institute for Wellness Solutions (IWS). The study – Insights from Survivors: Managing the Personal, Emotional and Financial Impact of Cancer – surveyed 400 Americans who were... Read more…
Protecting wealth is probably just as important as creating it. Insurance remains a crucial part of a well thought out wealth strategy. Poor planning in just one of these areas could be detrimental to your long-term wealth. It will only take one catastrophe to put you in a world of financial hurt. However, the natural... Read more » Read more…
When you consider the growing number of people over 65 in the U.S., the declining popularity of long term care insurance seems troubling. To improve awareness of how this insurance can benefit people, October has been named Long-Term Care Planning Month. Here are ten reasons you might want to consider purchasing long-term care insurance, especially... Read more…
September 29, 2014 – With support from four leading national insurers the American Association for Long-Term Care Insurance is set to run a special consumer awareness insert in Kiplinger’s Personal Finance magazine. The campaign will coincide with November’s Long-Term Care Awareness Month. “The participation of four insurers marks the Association’s largest effort in many years,”... Read more…
I was honored to be interviewed by Suzanne Roberts, an Emmy award-winning actress, director, producer and television host, for her 14 year old show, Seeking Solutions with Suzanne, a nationally broadcasted daily and weekly information / entertainment show targeted to an older adult audience. The 4:32 minute segment airs today on CNN Headline News at 1:24... Read more…
After several of his co-workers at the post office were diagnosed with cancer a few years ago, Bob Dempsey decided to buy insurance aimed at just that disease. Dempsey’s mother had colon cancer and eventually died from it. He knew costs could pile up with chemo appointments, time away from work,and experimental treatments, exceeding the... Read more…
Few people want to consider the possibility of an unexpected early retirement, but a job loss or serious health issue can sideline you way before you expected it in your working years. “Many Americans are faced with unexpected early retirement,” says Joe Jennings, a financial adviser with PNC Bank. “More than half of those 70 and under who... Read more…
Lowell Serfling bought long-term care insurance a dozen years ago at his dying wife’s suggestion and paid $150 a month for it – until earlier this year. That’s when State Farm informed him that his premium would jump to an extra $60. “I am on a fixed income and cannot afford this large increase,” Serfling said at... Read more…
State insurance regulators are getting ready to vote on proposals that could affect the ability of long-term care insurance (LTCI) issuers to set initial product prices and pass increases on to policyholders. The National Association of Insurance Commissioners (NAIC)has put a package of amendments to Long-Term Care Insurance Model Regulation (Number 641)on the agenda for the next... Read more…