“How to Use IRA Savings to Buy Long-Term Care Insurance”

“How to Use IRA Savings to Buy Long-Term Care Insurance,” by Rick Pendykoski, ElderLawAnswers “Typically, withdrawals or non-qualified investments (including insurance purchases) made with IRA funds before the age of 59½ are subject to taxes and penalties. Certain allowances are made if you use IRA savings to pay for medical expenses that exceed 10 percent of your adjusted gross income, or if you’re unemployed and using these funds to buy medical insurance. Although these exemptions don’t apply if you’re buying LTCi directly with your IRA savings, there are some indirect options available that allow you to avoid taxes and penalties.
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Categories: Industry News and Long-Term Care.

“MarketWatch: Pick a Reverse Mortgage Instead of Care Insurance”

“MarketWatch: Pick a Reverse Mortgage Instead of Care Insurance,” by Alex Spanko, Reverse Mortgage Daily “Reverse mortgage professionals know that partnerships with financial planners could hold the key to endorsement growth, and a national business publication found an advisor who recommends Home Equity Conversion Mortgages over long-term care insurance. MarketWatch this week featured George Gagliardi, a financial planner from Lexington, Mass., who’s “growing increasingly fond” of the reverse mortgage option for clients who come to him asking about long-term care insurance.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): More bad advice from a financial planner.
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Categories: Industry News and Long-Term Care.

“5 Top States for Long-Term Care Insurance Use”

“5 Top States for Long-Term Care Insurance Use,” by Allison Bell, ThinkAdvisor “In spite of all of the gloom and doom surrounding private long-term care insurance, more than 10% of the older residents of five states have it. Long-term care insurance penetration among residents ages 40 and older ranges from 2.5% in Nevada to 12% in the top state, with a median of 4.7%. AARP has published state-by-state data on long-term care insurance ownership, and dozens of others related to long-term care needs, delivery systems and finance systems, in a database linked to its latest long-term services and supports state
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Categories: Industry News and Long-Term Care.

“A new affordable housing option?”

“A new affordable housing option?,” by Lois A. Bowers, McKnight’s Senior Living “Dr. Bill Thomas has a new project for affordable seniors housing: tiny houses that could be used as accessory dwelling units (‘granny pods’) or clustered into so-called pocket neighborhoods. Thomas, founder of the Eden Alternative and the Green House Project, announced his project, called Minka at the recently concluded Senior Living Innovation Forum, according to a blog post related to the meeting.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Granny flats are nothing new, but it will be very interesting to see what
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Categories: Industry News and Long-Term Care.

“How To Turn A Glass Of Wine Into A $173,000 Bump In Your IRA”

“How To Turn A Glass Of Wine Into A $173,000 Bump In Your IRA,” by Paul Katzeff, Investor’s Business Daily “Playing the odds. Carrozza says a client couple both had long-term care insurance policies. The wife, who was 62 years old, was paying $2,500 a year. Her 68-year-old husband was paying $3,200. ‘We reasoned that statistically speaking, the wife would likely be able to help care for her husband, should the need arise,’ Carrozza said. ‘She, however, wanted to retain her insurance, so as not to be a burden on their children in years to come.’ The husband dropped his
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Categories: Industry News and Long-Term Care.

Critical Advantage: Term to Lifetime Conversion

Clients want options. Fortunately, the Critical Advantage portfolio gives your clients the option to convert from term to lifetime coverage. After the third year and through the 10th policy year, your clients can change their term policy to a lifetime policy without underwriting. This option is standard on all term policies, and there is no charge for converting (there may be a rate increase based on age). This gives your clients control of their policy in case their needs should ever change after purchase. To learn more about the benefits included in the Critical Advantage portfolio, click here. Critical Advantage:
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Categories: Critical Illness, Industry News, and Mutual of Omaha (& Affiliates).

Rate Adjustments Effective September 1 – NJ

Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective September 1, 2017: Block of Business Impacted States LTC06UI New Jersey     For a complete rate history, see the
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

(Legacy) Rate Adjustments Effective September 1 – IA, KS, LA, NV & NJ

Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha and we intend to remain a key player in this market for years to come. In order to fulfill this commitment, we actively monitor emerging industry trends as well as our own experience so we can make the adjustments necessary that will allow us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective September 1, 2017: Block of Business Impacted States NHA, LTA, HCA, LT50, NH50 Iowa, Kansas, Louisiana, Nevada, New Jersey  
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

GTL E-App Refresh!

GTL’s e-App has gotten a Facelift! In our continued effort to offer the best user experience, we launched some big changes to our e-App to help you access apps and supplies faster and easier. Our Agent Portal will also reflect these changes soon. To see these great new changes, please update the e-App from the App Store or Google Play for your Apple or Android devices. Login screen updated for easier usability and registration. Home screen reorgantized for easier navigation. Contact GTL’s Sales Support with any questions at 1-800-323-6907 or agency@gtlic.com. GTL E-App Refresh!   #goldencareagent #GTL
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Categories: Critical Illness, Guarantee Trust Life, Hospital Indemnity Plan, Industry News, Medicare Supp./Adv., and Short-Term Care.

“Tech Revolution Benefits the Aging”

“Tech Revolution Benefits the Aging,” by Sally Abrahms, Kiplinger “Imagine your frail father dons a virtual reality headset so he can ‘attend’ his grandson’s graduation and feel as if he’s really there. Or your mom, forgetful about her medicine, swallows a teensy sensor encased in medication that will relay the time she took the pill and the dosage to her smartphone. Perhaps your mother-in-law has dementia, which makes her agitated. A small robot she holds that acts like a cat, including purring, calms her instantly. Afraid she’ll wander? Your phone can alert you if she does.” LTC Comment (from Stephen
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Categories: Industry News and Long-Term Care.