- Aging & The Burden Of Care
Skyrocketing care costs may make the dream of aging at home more challenging
The fastest-rising long term care costs are no longer for the most skilled care – in a facility, they're now for the least-complex care – at home, according to Genworth's latest 2019 Cost of Care Survey results, announced today.
read more - Has Affordable Care Finally Gained Traction?
Americans Settle in During Healthcare Uncertainty
Six years after Health Insurance Exchanges were first launched as a result of the Affordable Care Act (ACA), Americans report they are largely satisfied with their healthcare options, according to a survey of 3,760 adults ages 18-64 in August 2019 by national nonprofit Transamerica Center for Health Studies® (TCHS).
read more - Less than Half of Employers Offer Benefits to Nontraditional Workers
Despite recognizing this risk, more than 7 in 10 plan to continue gig work in the future
Gig work, like being an Uber driver or freelance writer, has become more commonplace. LIMRA research shows 26% of all U.S. workers participate in gig work either as their primary job or as a secondary source of income and almost three quarters of these workers believe they will continue working in this capacity over the…
read more - State of Long-Term Care Insurance
Assumption review could lead to charges
As insurers undertake LTC actuarial assumption reviews in 2019, we believe those with outdated and less defendable assumptions will likely make adjustments to align with evolving industry experience and longer-term investment return assumptions, potentially leading to a decline in GAAP margins. T
read more - ‘Ditch the Rear-View Mirror’ When Planning for Income in Retirement
As retirement nears, consider protection from what’s down the road
When it comes to planning for retirement, too many people–and financial professionals–are stuck looking backward, said Scott Hall, regional sales director at OneAmerica®. “Often, the Baby Boomers are still focused on asset accumulation, rather than what’s going to happen when they start using those assets for income in their day-to-day living,” Hall said.
read more - GE’s Long-Term Care Exposure Magnifies Counterparty Risk for Several Insurers
Alarm bells ringing to strengthen reserves
The potential need for General Electric (GE) to bolster its long-term care (LTC) insurance reserves at two subsidiaries could also generate pressure on insurers that rely on those companies for reinsurance, according to a new AM Best commentary.
read more - Navigating The Silver Tsunami
Study reveals caregivers’ lifestyle sacrifices and expectations while caring for loved ones
The realities of caregiving are hitting home for Americans, as a majority of boomers who expect to be caregivers (92%) are willing to make lifestyle sacrifices to provide care to a family member or loved one.
read more - Individual Life Insurance Combination Product Premium Falls 2% in 2018
Combination products represented 27% of all individual life insurance premium collected in 2018
After three consecutive years of growth, total new premium for individual life combination products dropped 2% to $4.3 billion in 2018, according to LIMRA’s 2018 Individual Life Combination Products Annual Review. There were 404,000 policies sold in 2018, a 2% increase, compared with 2017 results.
read more - The Demographics, And Geography, Of Long Term Care
Costs can vary by more than $100,000 annually depending on the care you need and where you live
More than one in two Americans turning 65 are expected to need some form of long-term care in their lifetime, according to the Department of Health and Human Services. Yet unfortunately, many do not plan accordingly and significantly underestimate the cost of long-term care services, in some cases by nearly 50 percent.
read more - Nearly Half of Young Americans Have Experienced a Quarter-Life Crisis
Making sense of our evolving “adulting” pressures and expectations
More than half of young Americans (58% of Gen Zs and 52% of young millennials) expect to be more financially successful than their parents, according to a new survey conducted by The Harris Poll on behalf of TD Ameritrade.
read more - Achieving Retirement Income Readiness: Numbers and Concepts
Unfortunately, industry regulators are clueless when it comes to retirement readiness planning
by Steve Selengut
What's your favorite investment number: Market Value, Total Return, Performance vs. The S & P 500? Most of you will be thinking in terms of "market value", "returns", and annual growth of one or the other. But if you are in my age group ("over 55" to be kind), and thinking of retirement within ten to…
read more - Caring for Aging Parents is Not a Family Affair
New findings reveal only 1-in-10 families share caregiving responsibilities as a team among siblings
For most families, caring for mom or dad as they age is not a family effort. According to new data from Northwestern Mutual's latest C.A.R.E. Study, the responsibility most likely falls on the shoulders of one sibling, rather than being shared among all the children.
read more - LIMRA Announces 2019’s Rising Stars of Distribution under 40
Making a difference in shaping the future of the industry
LIMRA today announced the 10 winners of its 2019 contest to recognize Rising Stars of Distribution under 40 in the financial services industry. The contest searched for innovative and dedicated individuals who are making a difference in Distribution.
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