“OneAmerica® Long-Term Care Survey Shares Consumers’ Perspectives,” OneAmerica Quote: “The pandemic brought consumer awareness about the need for life insurance, but it didn’t have the same impact on long-term care planning, according to new research from a 2022 OneAmerica consumer study on long-term care. Only 15% say the pandemic has been highly influential on their perceptions of needing long-term care, the array of personal assistance, and services people need over an extended time period because of a chronic illness or disability.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Another study showing that people don’t think
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“Genworth Executives Review Long-Term Care Rate Hike Settlements,” by Allison Bell, ThinkAdvisor Quote: “Genworth had hoped to begin offering a new long-term care insurance policy together with a reinsurer. Instead, the company has decided to start by creating a business that will use less capital. The new Global Care Solutions unit will offer long-term care navigation and advice services based partly on services developed by Genworth’s CareScout unit and the company’s long-term care insurance business. Genworth hopes to launch that business by June 30, 2023, according to Tom McInerney, Genworth’s CEO. ‘The new business will include a digital platform where
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“54% of Consumers Have Cut Retirement Savings Due to Inflation: Allianz Life,” by Michael S. Fischer, ThinkAdvisor Quote: “The share of millennials that reported stopping or reducing retirement savings because of inflation was even higher. Gen Xers worry that if they do not increase their retirement savings soon, it will be too late to have a comfortable retirement. More than 70% of participants said they were keeping some money out of the market to protect it from loss.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: The issue is complex. Here’s the essence. Government created moral
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