abstract business

LIMRA: Hybrid LTC market has untapped potential

Sales of hybrid long-term-care policies have more than doubled in the past five years, but the products' potential for growth remains strong, LIMRA says. That's because fewer than 7% of people older than 50 have any kind of long-term-care coverage, according to a LIMRA analysis. Financial Planning online

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Sen. Hatch to offer amendment cutting tax incentives for 401(k) contributions

Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee, will introduce an amendment eliminating the current tax treatment for pretax 401(k) catch-up contributions. The amendment will raise the catch-up limit for people 50 and older but will tax the contributions when they are made and will classify them as…

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long-term-care-insurance

Advisors rethink how to comply with Labor fiduciary rule

Retirement advisors are taking a second look at measures to comply with the Labor Department's fiduciary rule now that the department is moving to postpone enforcement of parts of the rule. Many advisors welcome the extra time, but others worry about the lack of direction and what will end up…

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ebusiness

Execs say fiduciary-rule delay is good news for annuity providers

An 18-month delay in implementing certain parts of the Labor Department's fiduciary rule should have a positive effect on annuities, industry executives say. Annuity sellers can concentrate on structuring the right products for clients rather than focusing on technical details of fiduciary rule compliance, the executives say. InsuranceNewsNet online

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abstract business

Survey: Clients want advisors to focus on retirement income

Twenty-eight percent of investors planning for retirement said the most useful information advisors can provide them with is an estimate of how much they will have to spend a year, according to a survey from survey from Dimensional Fund Advisors. The same percentage said the most valuable information an advisor…

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building coulumn

Fed leaves rates unchanged, signals likely rise in Dec.

The Federal Reserve maintained its current interest rate but offered an optimistic view of the US economy that could lay the groundwork for a widely anticipated rate increase in December. The central bank's rate-setting committee said its preferred benchmark for inflation "remained soft" but the labor market is getting stronger…

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Missed Opportunities: Addressing Long-Term Care Insurance Needs

Survey: Cost of providing long-term care at home is rising faster

The cost of long-term care provided at home has increased year over year in 2017, with the cost of home health aides' services up more than 6% and that of homemaker services up 4.75%, a Genworth Financial survey found. The faster pace of cost increases is the result of factors…

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Commentary: Life insurance can help fund long-term care

Seniors who face the possibility of lapsing or surrendering a life insurance policy can exchange the policy on secondary markets to help pay for long-term care, writes Chris Orestis of GWG Life and Life Care Funding. The proceeds from selling a policy can be used to fund a long-term-care benefit…

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premium-finance

Research: Policy updates could help with retirement preparedness

Younger workers could enhance their retirement readiness not just through saving more and working longer, but also with the help of policy changes, say researchers with State Street Global Advisors. Such updates could include changes to Social Security to allow partial withdrawals and longer deferral of benefits, as well as…

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Advisers may need to review target-date funds

Brendan McCarthy of investment management firm Nuveen urges advisers to review any target-date funds they have in place in light of the Department of Labor's fiduciary rule. He points out that funds that were added to retirement plans a decade ago may now be inappropriate. Financial Advisor online

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