[A version of this article appeared on LinkedIn] It’s not surprising that we in the life insurance industry think a lot about financial security. But this week, as I gear up to speak at two events regarding women and financial security, I’ve been reviewing some surprising numbers about women, money, and confidence. Women have made … Continue reading "Women Are Controlling the Purse Strings—So Why Aren’t They Confident?"
According to the U.S. Department of Health and Human Services, 7 out of 10 people turning age 65 will need some type of long-term care service. Unfortunately, most people underestimate the likelihood of this need, and its potential cost. With an average length of care of three years, and an average annual cost between $50,000 … Continue reading "Hybrid Long-Term Care Policies: Meeting Consumers’ Needs Today and in the Future"
The American Council of Life Insurers (ACLI) commends House Ways and Means Committee Chairman Richie Neal (D-MA) and Ranking Member Kevin Brady (R-TX) for convening a hearing today on paid family and medical leave (PFML) benefits. Read our statement for the record for today’s hearing here. This topic is of vital importance to millions of … Continue reading "Solutions for Paid Family and Medical Leave"
InvestmentNews labeled Sen. Pat Toomey’s proposal to allow American consumers limited access to retirement savings to cover long-term care as one (among other) “ideas to raid retirement savings.” I don’t see it that way. Long-term care insurance covers caregiving costs due to an inability to perform activities of daily living or cognitive loss. Most Americans … Continue reading "Don’t Criticize Good Ideas to Ensure Retirement Security!"
We need a national solution to help more employers offer paid family and medical leave (PFML). PFML has the attention of leaders on both sides of the aisle and across all sectors because it’s about a basic human desire – the ability to care and be cared for. In the past four years, the number … Continue reading "How The Life Insurance Industry Is Providing Paid Family and Medical Leave"
Alzheimer’s disease is the leading cause of long-term care insurance claims. Currently an estimated 5.8 million Americans are living with Alzheimer’s disease. That number is expected to increase to 14 million by 2050. Today, the U.S. Senate Finance Committee Subcommittee on Health Care chaired by Sen. Pat Toomey held a hearing titled “Alzheimer’s Awareness: Barriers … Continue reading "Senators Scrutinize Alzheimer’s, Long-Term Care Insurance Provides Solutions"
More than 43.5 million family caregivers provide unpaid care annually to adults at any given point in time. Health insurance seldom pays for long-term care services and the government provides only limited coverage through Medicare and Medicaid. Many people are unable to save enough on their own to cover the costs of long-term care. Today, … Continue reading "House Committee Seeks Care Solutions for Aging Americans"