Art or science? A bit of both. And as medical protocols, outcomes and technology evolve, it changes. Mortality or Morbidity Today, underwriting mortality, a calculation of when you will die, for life insurance can be very precise. It has been around for centuries. The first known policies date back to 1583 in England. And life
The term “self-insuring” is a pet peeve of mine. It is a term that I find particularly annoying every time I hear it. Why? It’s a misnomer. And misleading. There is no such thing as self-insuring. One of the principles of modern insurance is pooling funds from the many to pay for the losses of
It’s that lovely time of year when leaves change and we begin planning for the holidays starting with Halloween. Any idea how much money Americans spend on ghouls and goblins? In 2021 it was $10.1 billion! Scary for sure. But even more so is aging and falling. Consider that every year 3,000,000 older adults end
Health care or Medicare is very different from long-term care. Why? Health care and Medicare are designed as curative or rehabilitative programs. Not so for long-term care which is custodial care. Custodial care provides assistance with activities of daily living or supervision due to cognitive impairment. People often think long-term care is only care provided
Whether you call yours mom, mother, mommy, mama, we all have one. And if you are really lucky, yours is still alive and part of your life. There are lots of sayings about moms. “A mother is your first friend, your best friend, your forever friend.” —Unknown “Youth fades; love droops; the leaves of friendship fall;
It’s time to get back to the basics! Do you know what long-term care is and your risk of needing it?
The window is closing. Washington state’s WA Cares Fund deadline is November 1, 2021. If you don’t have private long-term care insurance in place by that date and you are a W2 employee, your January 2022 paycheck will include a .58% tax. We could make a lengthy list of negative things about this legislation. But
When I started my business in 2000, there were about 140 insurance companies marketing long-term care insurance products. Today, just a handful. About seven offering standalone products if you count the federal program for government employees. More if you include insurers offering hybrid designs that include a life insurance or annuity component. Collective premiums in
Another attempt at long-term care funding. The WISH Act: Well-Being Insurance for Seniors to be at Home. Do we need it? Sure. Only 10% of Americans aged 50 and older have long-term care insurance. Yet most of us will experience a long-term care event once we reach age 65 and beyond. Average long-term care expense
