A conversation has started in this country. People are concerned about the costs of long term care as the baby boomers age. But it isn’t just the graying of America that poses the problem. We can expect our current population to need long term care much sooner than previous generations, due to an increasing rate of obesity, diabetes and heart disease in our young.
Genworth Financial has been a solid player in the Long Term Care insurance arena for years. The company is well diversified, offers decent products, is financially strong and its annual earnings are up. So, why does Genworth feel the need to raise rates on older policies and jeopardize seniors who have faithfully paid their long term care insurance premiums all these years?
Please share your plans for the future, because inquiring minds want to know: How are you planning to pay for your long term care costs, if you are among the 50% or so of Americans who need care?
Will you depend upon your children long term care?
Does your financial planning involve “spending down” to poverty [...]
Readers’ Questions: What Do You Want to Know? Is Long Term Care insurance for me?
How might having coverage benefit my family?”
Submit your questions about long-term care insurance by leaving a comment and we’ll get back to you.
Do you have a story to share with others about your experiences with Long Term Care? We’d love [...]
It’s hard to believe that 9 people, some of whom are getting up in years themselves, would make a judgment that would so harshly affect the sick, elderly and disabled, as well as their caregivers. Yet that’s exactly what happened on June 11th when the Supreme Court ruled that Home Health Care (HHC) aides, who provide “companionship services”, should be lumped in with baby-sitters as “casual workers”. No matter how many long, hard hours a day they work, this ruling exempts HHC workers from the Fair Labor Standards Act and leaves 2.1 million workers ineligible for minimum wage or overtime pay or benefits.
You might be wondering how this Supreme Court decision adversely affects senior citizens, women and our economy. Here are the cold, hard facts.
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How do you sell Long Term Care insurance? With a compassionate heart, of course! If you think you can convince people to buy long term care insurance without knowing the reality of long term care, think again…
As the Baby Boomers get greyer, who will pay for their long term care?
Conseco and Penn Treaty Long Term Care insurance companies must be biting their nails to the quick, as the House Committee on Energy and Commerce breathe down their necks and the General Accountability Office closes in.
In today’s market, there is only one way for an insurance company to offer a lower priced long term care insurance product – cut their costs! But how is Genworth doing it?
