“Birth of LTCi: Fatal miscalculations spur decades of angst,” by John Hilton, InsuranceNewsNet Quote: “In fact, the assumptions stood on a quite reasonable foundation, Slome explained. But two things did not play out as insurance executives and actuaries expected: the changing dynamics of long-term care, and the lapse rates. Fast forward a few decades, and LTCi is a perplexing product landscape. The need for the product is overwhelming, yet, insurers are busier trying to maintain old blocks of business that are actuarially unsound. That means repeated rate requests in states across the country. It means reduced benefits. It means denying
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“Inflation drives long-term care costs even higher. Here’s how planning ahead can help families afford it,” by Stephanie Dhue and Sharon Epperson Quote: “High inflation will likely make the rising costs more difficult for many families to afford already expensive long-term care for ailing or elderly relatives. On average, long-term care costs $50,000 a year at home and $100,000 in a nursing home, according to Long Term Care Group. For a new policy with a $165,000 benefit, a healthy 55-year-old could pay $45,000 in premiums by the time they turn 85.”     LTC Comment, Stephen A. Moses, President, Center
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“5 Reasons Affluent Clients Might Need Long-Term Care Insurance,” by Margie Barrie, ThinkAdvisor Quote: “Here’s a common question from financial planners: Should they be recommending long-term care insurance to high-net-worth clients, or should their clients self-fund long-term care risk? The decision to consider long-term care protection is often based on the value of the client’s assets. However, there are other risk factors that need to be considered, because those factors will affect the client’s portfolio and may have tax implications. In many situations, long-term care protection may provide a solution for portfolio risk management and legacy planning issues in the
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