- LTCi Claims Paid In 2021 Grew By $700 Million
Average payout about $36,600
The nation’s long-term care insurers paid out $12.3 Billion in claims during 2021. That represents a significant increase over prior years according to the American Association for Long-Term Care Insurance (AALTCI).
read more - Navigating Retirement’s ‘Fragile Decade’
Unbundling investments from insurance to solve for lifetime sequence-of-return risk
Constance is a new option that allows for a risk wrapper to be placed on an existing investment portfolio without creating a taxable event...
read more - Confronting Fears In Long Term Care
Half of Americans fear falling more than cancer and want to age in home without stairs
Over a year and a half into the COVID-19 pandemic, most Americans (85%) agree that it's more important than ever to stay in their home for long-term care. However, nearly half of those not retired (47%) say they are concerned their current home will not be safe for them to "age in place."
read more - Long Term Care Market Revenue To Cross USD 1.61 Trillion By 2027
Out-of-pocket segment in the long term care market will account for USD 491 billion by 2027 owing to the growing influx of private health insurers and increasing preference private LTC insurance services
The long term care market size is anticipated to record a valuation of USD 1.61 Trillion by 2027, according to the most recent study by Global Market Insights Inc.
read more - New York Life Declares Largest Dividend In Company History
Declaring a dividend for the 168th consecutive year underscores New York Life’s commitment to financial strength, mutuality, and delivering ongoing value to policy owners
New York Life, America’s largest and most admired mutual life insurer, today announced that the company has declared a dividend of $1.9 billion to eligible participating policy owners in 2022, the largest in company history.
read more - Lincoln Financial Shares Tips To Help Caregivers Plan Ahead & Prevent Feeling Overwhelmed By Long-Term Care Needs
Long-Term Care Awareness Month offers timely opportunity for families to plan ahead for the costs of caregiving
The cost of caregiving and its impact on relationships, careers and the emotional and financial well-being of caregivers, has been brought to the forefront throughout the pandemic, and for good reason. Nearly half of all Americans surveyed are or will soon be caregivers with seven in 10 caregivers feeling overwhelmed at least several days in…
read more - 2022 Tax Deductible Limits Not Increased For Long-Term Care Insurance
Still, maximum deductibility remains high
by Jesse Slome
For the first time the Internal Revenue Service has not raised tax-deductible limits for long-term care insurance according to the American Association for Long-Term Care Insurance (AALTCI).
read more - Pandemic Takes Its Toll On Caregivers
Nearly 60% of caregivers have shouldered new caregiving responsibilities since the pandemic
The impact of the Covid-19 pandemic has been felt especially hard among the nation’s caregivers, according to the latest findings from Northwestern Mutual’s 2021 Planning & Progress Study. One in five (21%) of Americans report they are currently providing care for someone, and among them six in ten (59%) say that they have had to…
read more - New Study Shows Increasing Need For Long Term Care & Reliance On Family Members
The COVID-19 pandemic increased demand for and complexity of care, accelerating existing trends toward longer duration and more acute long term care
In a year of critical healthcare needs, COVID-19 complicated caregiving, but the factors driving an accelerated need for care were largely the same as in years past, found Genworth's Caregiving in COVID-19 Beyond Dollars Study 2021.
read more - What Resources Do Retirees Have For Long-Term Service & Supports?
Understanding the risk of need and availability of resources
The potential need for long-term services and supports (LTSS) can be a significant source of anxiety for older workers, retirees, and their families. A central question driving this anxiety is whether the support that retirees might need can be met without exhausting their financial resources and family caregivers.
read more - Integrated Partners Shares Its Retirement Savings Lengthening Method
The Lifetime Income Model (LIM) is designed to fill the void between a person’s anticipated income and the total amount they will need to live out their lives as they wish
To combat many Americans’ reality that they will ultimately outlive their retirement savings, Integrated Partners has decided to share via a white paper its proprietary model which seeks to offer people an opportunity to preserve their short-term funds while also maximizing their long-term saving’s potential for additional earnings. Integrated’s Lifetime Income Model (LIM) is designed…
read more - Best & Worst States For Older Workers
The number of seniors working is projected to surge to 16 million by 2030
A record 10.6 million Americans 65 and older are currently in the workforce. By 2030, it will surge to 16 million, with workers 75 and older projected to increase by 96.5% and workers 65 and older by 41.9%.
read more - Envisioning What You Want In Retirement & Saving Accordingly
Helping Americans control their savings in order to retire comfortably
Regions Bank on Tuesday announced the results of a new retirement survey that finds many Americans need help getting on track with savings to retire comfortably. The survey was conducted by Regions Next Step, the bank’s free financial education program.
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