“Retirement: How to Live Well,” by Reshma Kapadia, Wall Street Journal

Retirement: How to Live Well: Few people want to leave their home as they grow older. Smart planning about health care can make all the difference. “It may be the most dreaded family talk after the one about the birds and the bees. It certainly gets scant mention in the retirement ads featuring a happy couple strolling along a beach. But long-term care is the elephant in the room that can upend an otherwise meticulously crafted retirement plan.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Good, long article in Barron’s, an excellent national outlet for
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Categories: Industry News.

GoldenCare Newsletter, November 9, 2015

 In this Edition: Along with important Carrier updates, we have gathered several tips and tools, articles and fliers to help you start the conversation with your clients during November’s Long-Term Care Awareness Month. We have a special Guest Article from ElderLawAnswers on IRS premium deductibility limits for 2016 and much more! With the holidays approaching, don’t forget to check the included holiday telephone solicitation bans for your area. Full GoldenCare Newsletter, November 9, 2015 Edition #goldencareagent
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Categories: GoldenCare News and Industry News.

Making the most of your opportunities

John Hancock has been conducting long-term care surveys since 1996 to better understand how consumers view the issues surrounding long-term care and how they plan to manage a long-term care situation if it ever happens to them. Our 2015 survey focuses on Baby Boomers, many of whom are already retired or are starting to think about it. “The majority of these respondents do not yet have a formal plan in place. This represents a tremendous opportunity.” Our 2015 Long-Term Care Survey will provide you with the insights you need to effectively communicate the value of long-term care insurance as a
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Categories: Industry News, John Hancock, and Long-Term Care.

You don’t need an excuse to talk about long term care with clients.

But you might need some help. Long term care (LTC) can be expensive — whether at home or in a facility — and it could have a major impact on your clients’ finances. So, as their financial professional, you have every reason to bring it up. And since November is Long Term Care Awareness Month, Genworth would like to provide a little extra help for those conversations. They’ve assembled an updated collection of thought-provoking materials ready for you to use: Dispel the Myths about Long Term Care; Exposes 15 misperceptions that could be getting in your way Genworth 2015 Cost
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Categories: Genworth, Industry News, and Long-Term Care.

“Seven money milestones to hit while you’re in your 50s,” by Jonnelle Marte, Washington Post

“5. Buy long-term care insurance. You might not have any health issues yet. But advisers often recommend people buy long-term care insurance, which would help pay for assisted-living costs or at-home health care, while they’re in their 50s.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Well said. Note the lack of the usual nursing home mention. Seven money milestones to hit while you’re in your 50s #goldencareagent
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Categories: Industry News and Long-Term Care.

“This is your brain on retirement – not nearly as sharp, studies are finding,” by Tara Bahrampour, Washington Post

“Mounting evidence shows that staying in the workforce into old age is good not only for our bank accounts, but also for our health and mental acuity. … So when is the sweet spot for retirement? The optimal age is around the late 60s but depends on factors from an individual’s financial security to the culture he lives in.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Good news for LTCI: more people continuing to work in their highest earning years precisely when they are most likely to become concerned about LTC risk and cost. This
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Categories: Industry News.

Wisconsin System Conversion

The Wisconsin Office of the Commissioner of Insurance (OCI) is converting to a new back office system on December 14, 2015. To implement the conversion, Wisconsin will temporarily disable electronic services, including appointments and terminations, on November 23 at 11:59 p.m. CST. As a result, transactions submitted between November 23 and December 14 will be declined until Gateway processing resumes. Vertafore will continue to provide licensing and appointment services to agencies, producers and carriers for Wisconsin in our Sircon solutions. We will also continue to support Wisconsin course completion / roster filing for education providers using our national filing solution.
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Categories: Industry News.

“‘A lot of opportunity’ in critical illness insurance,” Employee Benefit News

“Critical illness insurance has seen double digit growth over the last years as compared with other products such as life insurance which has been mostly flat, says Elaine F. Tumicki, corporate vice president at LIMRA. Watch as Tumicki discusses how three-quarters of employers still don’t offer critical illness benefits, leaving a lot of room for growth for the product.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Three-minute video celebrating the achievement and potential of CI. ‘A lot of opportunity’ in critical illness insurance #goldencareagent
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Categories: Critical Illness and Industry News.

“Critical illness insurance sales show improvement,” by Alain Theriault, The Insurance and Investment Journal

“After a difficult 2013, critical illness insurance sales are recovering, the latest LIMRA survey reports. New premium sales advanced 4% in the first quarter of 2015 compared with the same quarter of 2014. Across the board, new CI premiums reached $25.2 million in the first quarter. 23,783 policies were sold in Q1, roughly the same number as in the first quarter of 2014.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): CI progress. Critical illness insurance sales show improvement #goldencareagent
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Categories: Critical Illness and Industry News.

“50-Somethings Advised to Calculate Their ‘Long-Term Care Savings Gap’,” by ACSIA, Life & Health Advisor

“Most Americans are poorly prepared to pay for long-term care costs, but there’s a two-step fix, according to ACSIA Partners, a leading long-term care insurance agency. It starts by learning if there’s a gap, and how big, between your ability to pay and your likely future expenses.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Mind the gap! The LTC gap, says Center corporate-member ACSIA. 50-Somethings Advised to Calculate Their ‘Long-Term Care Savings Gap’ #goldencareagent
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Categories: Industry News and Long-Term Care.