Long Term Care/Insurance
I was perplexed when I read Mr. Shaw's commentary about long term care and long term care insurance. No one in the federal or state government, nor is anyone in the insurance industry, advocating that the poor purchase long term care insurance.
Wednesday, January 23, 2008
Save your parents’ finances (before they ruin yours)
There’s been a lot of attention focused on the “sandwich generation” — baby boomers getting squeezed by having to pay college tuition and help pay off student loans for adult children, while also helping to financially support aging parents.
There’s been a lot of attention focused on the “sandwich generation” — baby boomers getting squeezed by having to pay college tuition and help pay off student loans for adult children, while also helping to financially support aging parents.
Monday, January 21, 2008
Long-term strategy may come up short for couple Focus on 401(k) leaves little for emergencies
He also asked them to consider the purchase of long-term care insurance as a way to protect assets in late retirement.
“Having a disability plan in place as we get older has always been something I've thought about and wanted to look into,” Beckie said. “But we've never been in a position with our current cash flow to be able to afford it. After we get a savings account going for some of these extra expenses, I think it will be more feasible.”
He also asked them to consider the purchase of long-term care insurance as a way to protect assets in late retirement.
“Having a disability plan in place as we get older has always been something I've thought about and wanted to look into,” Beckie said. “But we've never been in a position with our current cash flow to be able to afford it. After we get a savings account going for some of these extra expenses, I think it will be more feasible.”
Retirement savings: How much is enough?
This year I've resolved to help my daughter get started on saving for retirement. She hasn't worked the types of jobs that have employer-provided savings plans, and a broken jaw and Hurricane Katrina meant a couple of prolonged periods without any work at all.
This year I've resolved to help my daughter get started on saving for retirement. She hasn't worked the types of jobs that have employer-provided savings plans, and a broken jaw and Hurricane Katrina meant a couple of prolonged periods without any work at all.
Overcoming Success -- Successful New Product Line Required New Processes
Be careful what you wish for. In 2002, when Pan-American Life Insurance Company introduced Worksite, a line of supplementary health, life and disability insurance for workers, the New Orleans-based mutual company expected they had a few years to keep records on paper and process claims by hand. In a pleasant surprise with a few less-than-pleasant implications, Worksite's sales far exceeded projections. As a result, in only two years, the volume of claims grew to 7,000 per week, and claims processors struggled to keep up.
Be careful what you wish for. In 2002, when Pan-American Life Insurance Company introduced Worksite, a line of supplementary health, life and disability insurance for workers, the New Orleans-based mutual company expected they had a few years to keep records on paper and process claims by hand. In a pleasant surprise with a few less-than-pleasant implications, Worksite's sales far exceeded projections. As a result, in only two years, the volume of claims grew to 7,000 per week, and claims processors struggled to keep up.
What kind of year will 2008 turn out to be?
Megaverdict? Two significant insurance industry fraud trials are taking place this year. In Hartford, Conn., four former executives of General Re Corp. and the former reinsurance officer of American International Group Inc. are on trial for securities fraud and conspiracy to manipulate AIG's loss reserves in what prosecutors call a sham finite reinsurance deal. The verdict will mean more than just what happens to the defendants; it could well determine the future of finite re as a risk-financing tool in the United States.
Later in 2008, former AIG Chairman Maurice R. Greenberg and ex-AIG Chief Financial Officer Howard Smith will get their day in court on fraud charges first brought by then-Attorney General Eliot Spitzer. After distinguished careers at AIG, Messrs. Greenberg and Smith are now top executives at C.V. Starr & Co. Inc., and the verdict in their trial could well determine that company's future.
Megaverdict? Two significant insurance industry fraud trials are taking place this year. In Hartford, Conn., four former executives of General Re Corp. and the former reinsurance officer of American International Group Inc. are on trial for securities fraud and conspiracy to manipulate AIG's loss reserves in what prosecutors call a sham finite reinsurance deal. The verdict will mean more than just what happens to the defendants; it could well determine the future of finite re as a risk-financing tool in the United States.
Later in 2008, former AIG Chairman Maurice R. Greenberg and ex-AIG Chief Financial Officer Howard Smith will get their day in court on fraud charges first brought by then-Attorney General Eliot Spitzer. After distinguished careers at AIG, Messrs. Greenberg and Smith are now top executives at C.V. Starr & Co. Inc., and the verdict in their trial could well determine that company's future.
Friday, January 18, 2008
How to help your parents get their financial house in order
Like too many Americans, he's been diagnosed with cancer, in his case stomach cancer. I've known their financial needs would fall on me some day, so I've always taken a keen interest, even going so far as to pay for their long-term care insurance.
Like too many Americans, he's been diagnosed with cancer, in his case stomach cancer. I've known their financial needs would fall on me some day, so I've always taken a keen interest, even going so far as to pay for their long-term care insurance.
Who Is Paying for Your Long-Term Care?
Many people do not plan ahead financially to provide for their care in the event of frail health. Depending on the long-term care required, costs easily can exceed $50,000. Paying for long-term care involves multiple considerations, according to the U.S. Department of Health and Human Services (DHHS).
Many people do not plan ahead financially to provide for their care in the event of frail health. Depending on the long-term care required, costs easily can exceed $50,000. Paying for long-term care involves multiple considerations, according to the U.S. Department of Health and Human Services (DHHS).
Former CO Adviser Admits $1.7M Scheme Against Teachers
Colorado Attorney General John Suthers charged that Moore contacted 141 Colorado public school teachers from 11 school districts and asked them to transfer 401(k) assets with the state's Public Employees Retirement Association (PERA) into different AXA accounts.
Colorado Attorney General John Suthers charged that Moore contacted 141 Colorado public school teachers from 11 school districts and asked them to transfer 401(k) assets with the state's Public Employees Retirement Association (PERA) into different AXA accounts.
Event to offer free life insurance for local families
HARDIN COUNTY — A partnership between the Lincoln Trail Commission on Women and Mass Mutual Financial Group is helping area families gain free life insurance to provide for their children’s education.
HARDIN COUNTY — A partnership between the Lincoln Trail Commission on Women and Mass Mutual Financial Group is helping area families gain free life insurance to provide for their children’s education.
Life insurance worth considering to cover private loan debt
Death isn't something students usually think about. They're younger. They're healthier. They're statistically less likely to die.But for students financing their education with loans, death could mean passing on the burden of debt to their families.
Death isn't something students usually think about. They're younger. They're healthier. They're statistically less likely to die.But for students financing their education with loans, death could mean passing on the burden of debt to their families.
When You Die, Will Your Life Insurance Be Found?
FT. LAUDERDALE, Fla., Jan. 16 /PRNewswire/-- Thousands of families cannot find their policies thus billions of dollars are lost! How do you avoid this sad ending? http://www.findyourpolicy.com will assure members their inheritance can be found.
FT. LAUDERDALE, Fla., Jan. 16 /PRNewswire/-- Thousands of families cannot find their policies thus billions of dollars are lost! How do you avoid this sad ending? http://www.findyourpolicy.com will assure members their inheritance can be found.
Life Insurance Agents & the WOW Experience!
How many times have you found yourself saying WOW due to an experience provided through a business?And think about this, many times the "WOW" is caused by something little. Sometimes, it´s the "little" things and the attention to details that can really separate one company from another.
How many times have you found yourself saying WOW due to an experience provided through a business?And think about this, many times the "WOW" is caused by something little. Sometimes, it´s the "little" things and the attention to details that can really separate one company from another.
Managed Care Sector Looks to Meet 4th-Quarter Expectations, Street Looks to Medicare Growth
NEW YORK (Associated Press) - Managed care companies are poised to report positive fourth-quarter profit results in the coming weeks, and Wall Street is already focusing on whether a growing Medicare Advantage insurance program will boost the sector in 2008.
NEW YORK (Associated Press) - Managed care companies are poised to report positive fourth-quarter profit results in the coming weeks, and Wall Street is already focusing on whether a growing Medicare Advantage insurance program will boost the sector in 2008.
New Company Offers Term Life Insurance Online
Unlike its competitors, GetHealthInsurance.com offers real-time quotes for customers who visit their web site. This is presented in a side by side plan and rate comparison so the customer can make the best decision on the health plan that fits them best. Next they can apply directly on line. Quotes are also available, along with expert advice on line or by telephone. The toll-free number for GetHealthInsurance.com is 877-236-7444.
In addition to health and dental insurance for individuals, companies and groups, GetHealthInsurance.com can also write term life insurance, short-term health insurance and student health insurance. It can also help individuals and small businesses set up health savings accounts (HSA) and health reimbursement accounts (HRA).
Unlike its competitors, GetHealthInsurance.com offers real-time quotes for customers who visit their web site. This is presented in a side by side plan and rate comparison so the customer can make the best decision on the health plan that fits them best. Next they can apply directly on line. Quotes are also available, along with expert advice on line or by telephone. The toll-free number for GetHealthInsurance.com is 877-236-7444.
In addition to health and dental insurance for individuals, companies and groups, GetHealthInsurance.com can also write term life insurance, short-term health insurance and student health insurance. It can also help individuals and small businesses set up health savings accounts (HSA) and health reimbursement accounts (HRA).
Wednesday, January 16, 2008
New mortgage-related tax breaks for 2007
In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible.
In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible.
Inflation Rate Is Worst in 17 Years
WASHINGTON (AP) -- Higher costs for energy and food last year pushed the inflation rate up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas. Meanwhile, industrial output was flat in December, more evidence of a significant slowdown in the economy.
WASHINGTON (AP) -- Higher costs for energy and food last year pushed the inflation rate up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas. Meanwhile, industrial output was flat in December, more evidence of a significant slowdown in the economy.
New Venture Targets Hispanic Market
SAN FRANCISCO, Jan 15, 2008 /PRNewswire via COMTEX/ -- Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of the life sciences and healthcare services, industrial technology, business services and software services, today announced that it has partnered with experienced insurance industry executives and Westline Corporation to establish Confie Seguros, a platform company to consolidate insurance brokerages primarily focused on the Hispanic consumer. Concurrent with the formation of this new entity, Confie Seguros announced that it has completed its first investment in Westline, an insurance brokerage firm serving California.
SAN FRANCISCO, Jan 15, 2008 /PRNewswire via COMTEX/ -- Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of the life sciences and healthcare services, industrial technology, business services and software services, today announced that it has partnered with experienced insurance industry executives and Westline Corporation to establish Confie Seguros, a platform company to consolidate insurance brokerages primarily focused on the Hispanic consumer. Concurrent with the formation of this new entity, Confie Seguros announced that it has completed its first investment in Westline, an insurance brokerage firm serving California.
Monday, January 14, 2008
Blunt proposal would expand Medicaid coverage for children
Gov. Matt Blunt last week recommended spending $4.8 million a year on a new program to provide Medicaid coverage for 3,700 moderate-income children unable to obtain private insurance.
Gov. Matt Blunt last week recommended spending $4.8 million a year on a new program to provide Medicaid coverage for 3,700 moderate-income children unable to obtain private insurance.
Nationwide Financial Unveils YourLife(SM) Survivorship Universal Life Insurance
Following its recently updated Whole and Term Life products, thecompany today unveiled Nationwide YourLife(SM) SUL, a lower-cost,low-maintenance, life insurance product that offers death benefitprotection, a no-lapse guarantee and unique legacy, estate andbusiness planning solutions. Protections and guarantees are subject tothe claims-paying ability of the issuing life insurance company.
Following its recently updated Whole and Term Life products, thecompany today unveiled Nationwide YourLife(SM) SUL, a lower-cost,low-maintenance, life insurance product that offers death benefitprotection, a no-lapse guarantee and unique legacy, estate andbusiness planning solutions. Protections and guarantees are subject tothe claims-paying ability of the issuing life insurance company.
CIGNA introduces new will preparation services
CIGNA Group Insurance has announced the availability of will preparation services to life insurance members and their spouses, at no additional charge.
CIGNA Group Insurance has announced the availability of will preparation services to life insurance members and their spouses, at no additional charge.
Savings, Insurance, Wills, Planning: Here Are Some Tips
Forget those New Year's resolutions to lose weight or take up Spanish. In the interest of flexing your financial muscles, we tapped a number of experts for their best recommendations on savings, insurance, wills and estates, and financial planning. Read on for their routes to fiscal fitness in 2008.
Forget those New Year's resolutions to lose weight or take up Spanish. In the interest of flexing your financial muscles, we tapped a number of experts for their best recommendations on savings, insurance, wills and estates, and financial planning. Read on for their routes to fiscal fitness in 2008.
Friday, January 11, 2008
First Rigorous Analysis Defines Impact Of Medicare Part D
The most thorough study to date of the impact of the Medicare Prescription Drug Benefit (Part D) found that this benefit led to a 13.1 percent decrease in out-of-pocket expenses for patients and a 5.9 percent increase in prescription use.
The most thorough study to date of the impact of the Medicare Prescription Drug Benefit (Part D) found that this benefit led to a 13.1 percent decrease in out-of-pocket expenses for patients and a 5.9 percent increase in prescription use.
Home-care companies could get pay cut
Government advisers on Thursday are expected to recommend that lawmakers not increase payments to at-home health care providers for Medicare patients. (more)
Government advisers on Thursday are expected to recommend that lawmakers not increase payments to at-home health care providers for Medicare patients. (more)
Medicare drug plan saved seniors 13% in out-of-pocket costs, government study says
Despite an initial albeit brief rocky start, Medicare's drug benefit appears to so far be delivering a lower prescription tab for seniors and a whopping tab for the federal government, new research shows. (more)
Despite an initial albeit brief rocky start, Medicare's drug benefit appears to so far be delivering a lower prescription tab for seniors and a whopping tab for the federal government, new research shows. (more)
Life Insurance From Your Stockbroker?
You already expect to buy stocks, bonds, and mutual funds from the same company. Why not life insurance? (more)
You already expect to buy stocks, bonds, and mutual funds from the same company. Why not life insurance? (more)
Finding Day Care -- For Your Parents
In a nod to the aging of the population, MetLife last fall for the first time included adult day care as a distinct category in its annual report on costs ...(more)
In a nod to the aging of the population, MetLife last fall for the first time included adult day care as a distinct category in its annual report on costs ...(more)
Taking Social Security Too Soon Can Cost You
U.S. News & World Report - Washington,DC,USA
Almost a third of the 2.9 million boomers born in 1946 plan to apply for benefits this year, like Casey-Kirschling, according to a recent MetLife Mature ...(more)
U.S. News & World Report - Washington,DC,USA
Almost a third of the 2.9 million boomers born in 1946 plan to apply for benefits this year, like Casey-Kirschling, according to a recent MetLife Mature ...(more)
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