“Announcing the 2017 Caregiver Friendly Award Winners”

“Announcing the 2017 Caregiver Friendly Award Winners,” by Gary Barg, Caregiver Magazine LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Check out this list of links to meritorious books, media, products and services related to long-term caregiving. Announcing the 2017 Caregiver Friendly Award Winners #goldencareagent #caregivers
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Categories: Industry News and Long-Term Care.

Minnesota Life Created A Paper Application For CareShield!

You Asked For It. Minnesota Life Delivers! Now Approved, A Paper Application For CareShield! Just announced, Minnesota Life has made a paper application available for their CareShield product! Like Minnesota Life’s other products, both an e-application and a paper application are available for your convenience. To access PDF materials, login to www.securian.com and click the “Applications & Forms” option within the Quick Links box at the top. OR Get your supplies ordered and shipped to you! Click here to order online.   CareShield: Application for Individual Life Insurance (ICC16-20037)   #goldencareagent #minnesotalife
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Categories: Industry News, Linked Benefit/Hybrids, and Securian.

GoldenCare Newsletter | June 19, 2017

In this GoldenCare Newsletter Edition From GoldenCare: Join us for brand new webinar topics including a brand new short-term Home Health Care product and special guest speakers. See our full list of hot topics. PROMO TIME!!   Get your Careshield, Mutual of Omaha Custom Solutions and GTL Critical Cash apps in for our Amazon.com Gift Card Blowout!  See the Newsletter for details on this exciting promotion. Minnesota Agents!   Tomorrow!  Join us in St. Cloud for an Onsite Dynamic Sales Training Workshop.   Walk ins welcome.  See the Newsletter for topics and times. Our Guest Article in this edition is “Your 2017 Guide
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Mutual of Omaha (& Affiliates), and Transamerica.

In-Force Rate Action Announcement: Oregon (Privileged Choice® and Classic Select®)

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Oregon. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Wisconsin AARP (Privileged Choice® and Classic Select®)

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Wisconsin. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
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Categories: Genworth, Industry News, and Long-Term Care.

“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.