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Financial Planning Month-October

October is Financial Planning Month

3 min read

Success Is a Collaboration of Problems Solved at NAIFA's LECP Impact Week

By NAIFA on 10/25/21 3:30 PM

NAIFA’s Limited and Extended Care Planning Center is hosting the second annual NAIFA LECP Impact Week, November 1 - 5. 

 The virtual event, with the theme Success Is a Collaboration of Problems Solved, has been revamped for 2021. Each of the five days of Impact Week programming will drill down on a specific topic and feature multiple presenters in a packed one-hour presentation, 12 - 1 pm eastern.

Topics: Long Term Care Limited Care Press Release Limited & Extended Care Planning Center
3 min read

$9.2 Trillion in Senior Home Equity is the Largest Asset Pool You’ve Never Heard Of

By Fairway Independent Mortgage Corp. on 9/29/21 12:30 PM

American seniors are sitting on a massive mountain of cash.

Low-interest rates, rising home prices, and vanishing inventory have contributed to all-time-high home equity, yet most of it sits untouched and forgotten.

Topics: Aging in Place Business Performance Center Limited & Extended Care Planning Center Assets Potential Partners for Advisors
4 min read

Retirement Regrets – Does Retirement Live Up to Expectations?

By Coventry on 9/28/21 10:15 AM

Ah, retirement. The reward at the end of years in the labor force, of saving and investing and planning for financially sound, restful, and even adventure-filled golden years. Millions of Americans enter retirement annually, but increased reliance on Social Security income and Covid-19’s impact on employment, access to social supports, and mental and physical health have altered the retirement experience for retirees across the U.S. With retiree numbers significantly increasing in the last year and predictions of more to come at an accelerated rate, we wanted to know if retirement still lives up to expectations. Are retirees experiencing the retirement they expected, or do they have regrets? 

Topics: Life Insurance Retirement Life Settlement Limited & Extended Care Planning Center Potential Partners for Advisors

Carroll Golden, Talks Washington Care Act on Podcast

By Jaquetta Gooden on 8/24/21 3:50 PM

NAIFA’s LECP Executive Director Carroll Golden joins Angie Hughes on the  Producers XL broadcast: The Long-Term, Angie's Advice for Agents on August 31st, at 11 am eastern to discuss the Washington Care Act.

Topics: Long Term Care Professional Development podcast Limited & Extended Care Planning Center
3 min read

OneAmerica Partners with NAIFA to Support Advocacy and Educational Initiatives

By NAIFA on 6/10/21 2:45 PM

NAIFA and OneAmerica® have completed an agreement on the Educational Partner Program, under which OneAmerica will provide educational content and thought leadership for NAIFA’s Advisor Today platform as well as its Centers for Excellence: The Business Performance Center, Limited and Extended Care Planning Center, and Talent Development Center. OneAmerica sponsored and participated within NAIFA’s 2021 Virtual Congressional Conference held May 25-26th that drew more than 1,350 advisors, and will be a key sponsor for the upcoming Performance+Purpose conference to be held virtually August 17-19, 2021. 

Topics: Talent Development Center Performance + Purpose Conference Press Release Business Performance Center Limited & Extended Care Planning Center
1 min read

Consumer Resources for LTC Insurance: Agents and the NAIC Buyer’s Guide

By NAIFA on 2/8/21 9:46 AM

Most states require financial professionals to provide consumers with a copy of the National Association of Insurance Commissioners publication “A Shopper’s Guide to Long-Term Care Insurance” before completing an LTC insurance sale.

Topics: Long Term Care Limited & Extended Care Planning Center Financial Security
2 min read

The Black Swan: The Generational Impact of the “Baby Boomers” and “Longevity"

By Carroll Golden on 1/6/21 4:48 PM

Over the holidays, I had time to read a very interesting book that seems to directly relate the COVID-19 Pandemic chain of events. The Black Swan: The Impact of the Highly Improbable Event by Nassim Nicholas Taleb. Although the book discusses the black swan phenomenon in relation to investing, it seems to hit home when looking at the impact and rational that is surfacing around the COVID-19 Pandemic. The book focuses on three principal characteristics. The event is rare and unpredictable. It is an outlier so rare that even the possibility of such an event is not identified. The event produces a catastrophic impact. And finally, we create an explanation that makes it appear less random and more probable and eventually predictable. Interestingly, there are some positive Black Swans such as the impressive success of Google and Facebook. On the other hand, there is the tragic events of 9/11 which fits as a Black Swan. The COVID-19 pandemic that is taking its toll on individual families, entire generations, and the global economy also qualifies as a “Black Swan event."

The next “Black Swan” event could well be the generational impact of paring the needs and complications that inevitably comes with longevity and the sizable “Baby Boomer” generation. What COVID-19 offers us is a window into the future. Do we need to wait until “after” the “Boomers” and their parents overwhelm the system to recognize that caring for an aging population with an extreme shortage of funding, well-run facilities, adequate professional staff, and trained support caregivers for people to age-in-place may well create the next “Black Swan” event?

As a specialist in extended and long term care, I am amazed that many “baby boomers” who are now caught in the “sandwich” generation, taking care of their parents while raising their children and, in many cases, trying to stay employed, do not see the urgency in extended and long term care generational planning. Any health incident leads to stress and worry. The impact does not confine itself; it spreads throughout the generations of a family and by extension throughout society. As Mother Teresa reminds us: “If we have no peace, it is because we have forgotten that we belong to each other." At a minimum, why not at least investigate the many options that are available to fashion an extended or long term plan? Given an alternative, no generation wants to burden the next. The “sandwich” generation feels that it is too late to plan for their parents…but is it? No, not really. Certainly, they may think they don’t have the resources or feel any urgency to plan for their own longer life needs…is that true? No, not really. Is this an easy conversation to have? No, not at all. Is it a generational problem? Yes, but by becoming an educated family member, discussing a deliberate response instead of a frantic, unsatisfactory-to-all response, we may avoid the Black Swan syndrome.

"Remembering that we belong to one another is the starting point. Whether it is personal or professional, you need to belong to a network that helps you plan. I am grateful to the National Association of Insurance and Financial Professionals, NAIFA, and to the Intercompany Long Term Care Conference, ILTCI, for affording me the opportunity to “belong”! These organizations have made me curious, educated, and solution-bound. Professional sharing abounds and innovative options are the outcome.

So, how is that helpful to you? A more positive side effect of the Pandemic is that we have become more connected- at least virtually. There is no reason you cannot spend 20-30 minutes accessing one of the NAIFA IMPACT WEEK: LTC recordings to see what you don’t know. No one is pushing you into a service, product, or professional career. It is about discovering options-the conversation starters for generational discussions.

Topics: Extended Care boomers Limited & Extended Care Planning Center
2 min read

USING MEDICARE PUBLICATIONS

By Dan Mangus, Vice President of Sales, Senior Marketing Specialists on 1/6/21 2:40 PM

As an advisor to individuals on Medicare or advising a caregiver to someone on Medicare, you require accurate information. One of the best reference tools for you to share with them is Medicare publications. They are easy to access on Medicare.gov and available on a variety of topics. Here are a few that I find outstanding.

Topics: Health Care Medicare Limited & Extended Care Planning Center
5 min read

An Outstanding Opportunity to Grow Your Business for Generations

By Carroll Golden on 12/15/20 6:31 PM

The sales and marketing landscape has changed. Have you?

Topics: Grow Your Business Limited & Extended Care Planning Center
1 min read

Transamerica LTC Update & Review

By NAIFA on 11/10/20 3:54 PM

Matt Hamann, National Sales Director, VP Institutional, Worksite Multi-Life & Brokerage at Transamerica

Topics: Long Term Care Limited & Extended Care Planning Center

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