What are your insurance gaps?

The recent earthquakes in Southern California are a good reminder that a financial service should match your needs and goals. This comes under the GET READY! Principle that You should receive customized service appropriate to your needs and goals. Your potential financial needs should be reviewed for each type of financial product under consideration and take … Read more

Genworth Update

For those of you with Genworth Long Term Care insurance policies or other Genworth policies, the merger with China Oceanwide has again been extended.  There are still a few remaining regulatory hurdle as Genworth and Oceanwide Extend Merger Agreement. Also: Genworth Financial Announces First Quarter 2019 Results: Net Income Of $174 Million And Adjusted Operating … Read more

The Genworth Story Continues……

The Genworth and China Oceanwide merger continues to slowly move forward.  On January 30, 2019, Genworth and Oceanwide extend merger agreement. This marks the eight waiver and agreement of each party’s right to terminate the previously announced waiver agreement.   The transaction has received all required U.S. insurance regulatory approvals. The closing of the transaction remains … Read more

Long Term Care Insurance Claims reach $10.3 Billion in 2018

The long term care insurance industry paid a total of $10.3 billion in claims for 2018 according to AALTCI (American Association for Long Term Care Planning). By far, this is the largest amount of claims paid by long term care insurance companies. From 9.2 billion of claims paid to 295,000 policyholders it rose by 2.7 … Read more

Long Term Care Insurance Tax Deductibility for 2019

The IRS recently issued new limits for the tax deductibility of ’tax qualified’ long-term care insurance premiums for 2019 (below).  Only traditional LTCi policies have this benefit while hybrid, combination and linked benefit policies with LTC components do not. Here are the new (2019) limits for traditional long-term care insurance premiums (that can be included … Read more

Checking in with Genworth and the Long Term Care Insurance Industry:

Checking in with Genworth and the LTC Industry: The sale of Genworth to China Oceanwide Holdings Group Co. Ltd seems to be back on track and may be completed, by the end of this year.  China Oceanwide announced their plan to acquire Genworth about two years ago.   Tom McInerney, Genworth’s president, told securities analysts … Read more

Long Term Care Insurance Is Still a Thing:

Long Term Care Insurance premiums continue to trend up slightly in the 2018 National Long-Term Care Insurance Price Index from the American Association for Long-Term Care Insurance. This is mixed news as it reinforces that insurance companies are seeking stability in their pricing and that these increases may also help to minimize future premium increases … Read more

9 Insurance Questions for 2018

Change is coming slowly to the insurance industry and while 2017 showed much movement, 2018 will be the year that brings the next step in evolution for the insurance industry. In this post, I pose some of the questions and possible answers for the insurance industry this year. 1) Will this be the year that … Read more