• Will my children be able

    to afford the care I need?

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Why Single Women Need Long-Term Care Insurance

More adults in the U.S. are single than ever before and the numbers continue to rise. Of those who are single, nearly 53% are women. While being single has its positives, it can also come with challenges when it comes to money and finances.

In fact, nearly one-third of women are worried about their finances based on research by Fidelity Investments. Their research revealed single women are the least likely demographic to have a financial plan for paying down debt and setting savings goals.

An important consideration for single women during the retirement planning stages is whether it makes sense to buy Long-Term Care insurance (LTCI). With nearly 70% of people needing some form of long-term care in their lifetime, it’s important to start planning early, including how you’ll pay for care. Continue reading

June Is Alzheimer’s & Brain Awareness Month!

Each year in June, the Alzheimer’s Association draws awareness to the disease impacting 5.7 million Americans. Alzheimer’s and dementia impact not only the patient but entire families and friend groups. The Alzheimer’s Association makes it their goal to bring Alzheimer’s to the forefront of people’s minds and raise funds and support to find a cure for debilitating brain diseases.

Learn more about common brain diseases including advances in treatment and ways you can take part in helping bring an end to Alzheimer’s disease. Continue reading

Should Siblings Pool Resources and Buy Long-Term Care Insurance for a Parent?

A long-term health event can happen to anyone, and the chances of an event occurring only increase as we age. In fact, it’s estimated 70% of people over age 65 will need some form of long-term care in their lifetime. The problem is, home care or care in a facility is expensive and can deplete a family’s savings quickly.

That’s where long-term care insurance comes in. Individuals and families can transfer their risk to an insurance company to pay for or help cover the cost of long-term care services.

However, not everyone in their retirement planning ages can afford the insurance coverage they need. In some cases, children may step in to pay for long-term care coverage for mom or dad or both. Continue reading

4 Helpful Apps to Manage Your Loved One’s Care

If you have a smartphone or tablet, you’re likely familiar with using apps. But did you know caregiving apps can help make your tasks and priorities more manageable?

Caregiving apps help you keep all important information in one location. Get appointment and medication reminders, record notes from doctor visits, keep a log of activities, coordinate caregivers, and keep family and friends up-to-date with care information and photos of your loved one.

We’ve compiled a list of four popular caregiving apps to help you manage a loved one’s care. While a single app may not do everything you need, try a few to see which one you like best. Most caregiving apps are free or reasonably priced and all work to help make your life easier. Continue reading

LTCI Has Grown Up – How Policies Have Changed Over the Years

Did you know every eight seconds a Baby Boomer turns 65? Out of the nearly 79 million Boomers, 53 million will need some type of long-term care in their lifetime and 26 million will need nursing home care. It’s estimated only 8 million Americans have a long-term care insurance policy.

Long-term care insurance (LTCI) has evolved over the years since it first launched. By the late 1980s and 1990s, long-term care insurance became a hot commodity. But little did the insurance carriers realize just how many people would use their policies. This miscalculation likely lead to policy series rate hikes and new policy benefit changes. These changes made policies more sustainable for insurance companies and more reliable for consumers. Continue reading

Real Stories: Living with Alzheimer’s Disease

If you’ve had a loved one who suffered from Alzheimer’s, you know the devastating impact the disease can have on the individual and the family members. But many who haven’t personally experienced it may not realize the full impact of this disease.

While it’s important to stay positive and take care of your health, it’s equally important to understand the odds of being diagnosed with a cognitive disease. It’s estimated Alzheimer’s or dementia impacts one in three seniors. Continue reading

Genworth and China Oceanwide Merger Update

Some may be aware that one of the largest providers of long term care insurance, Genworth Financial, is currently amid a merger with China Oceanwide.  Genworth Financial Group and China Oceanwide Holdings Co. Ltd. recently agreed to extend the deadline of their merger until July 1, 2018 in hopes of achieving government approval.  The merger was announced in 2016 when Oceanwide offered to pay $2.7 billion for the American insurance company. This past March, the Australian regulators approved the deal moving it a step forward in addition to previous approvals from regulators in the states of South Carolina, North Carolina, Virginia, and Vermont.

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5 Tips to Spring Clean Your Finances

With new life popping up everywhere, spring is a great time to start fresh. Spring cleaning is often the first approach to rid your home of dust and dirt after the long winter. But spring cleaning can also apply to your finances.

As you work on cleaning your home and organizing your life, keep these spring cleaning tips in mind for your finances. Continue reading