Author Archives: Ayo

2019 Long-Term-Care Insurance Price Index Released

A couple in their mid-50s purchasing new long-term care insurance(LTCI) can expect to pay just over $3,000 for a potential combined benefit of over $770,000 in coverage, should they begin to need care at age 85. According to the 2019 Long-Term Care Insurance Price Index, prices for coverage have increased slightly, compared to the prior year.  The American Association for ...

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Factors Affecting the Life Combination Market

According to LIMRA research, the life-combination market has grown to more than a $4 billion market over the past 10 years. A study, conducted jointly by LIMRA and Ernst & Young LLP (EY), identified five factors that impact the viability of the life-combination market. The report, Combination Products: A One-Stop Solution? examines five factors that challenge life insurers’ ability to develop and ...

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The Single-Retiree Market: Major Opportunity for Advisors

The media often depicts retirement as a couple walking down a beach holding hands or sitting on a white beach chair, watching waves crash down on the shore. However, for many American retiree, this is simply not a reality. New LIMRA Secure Retirement (LIMRA SRI) data give some valuable insights into an often-overlooked market: single pre-retirees and retirees. There are 7.6 ...

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Sallie Mae’s Sweepstakes Can Help Your Clients’ Children Win Money for College!

As your clients look for ways to finance their children’s college education, now is a good time to remind them of Sallie Mae’s monthly Plan for College Sweepstakes. This program offers a chance for students to win $1,000 when they register for Sallie Mae’s free college planning tools—Scholarship Search and the College Planning Calculator. Each November, to commemorate National Scholarship ...

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Advisors Offer More Products and Services

  A survey from the LIMRA Secure Retirement Institute (LIMRA SRI) shows that financial professionals across all channels are offering a broad array of common products and services to better serve the needs of their prospects and clients. Today there are more than 50 million American retirees. By 2035, this group will grow more than 40 percent to 72 million. ...

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Americans Have High Hopes for Retiring Early

Americans on average expect to retire two years sooner than they did five years ago and many more say they intend to retire before age 60, potentially reflecting a spike in 401(k) balances, according to research from Massachusetts Mutual Life Insurance Co. (MassMutual). At the same time, fewer people have figured out how much income they need to retire. The ...

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Nearly 4 in 10 Americans Have Not Talked about Long-Term Care

With Long Care Awareness Month currently under way, it is interesting to note that a large number of Americans have never talked about long term care. According to a recent survey, nearly 4 in 10 Americans age 65 and over–37 percent–say they haven’t had conversations with anyone about preparing for their possible need of long-term care (LTC). The survey, conducted ...

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How America Pays for College

Family income and savings covered nearly half (47 percent) of all college expenses last year, according to “How America Pays for College 2018.” This is the national study from Sallie Mae–the nation’s saving, planning, and paying for college company–and Ipsos, an independent global market research company. The annual research report examines how families pay for college, how much they spent, ...

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Advisory Services Experience Growth

A new LIMRA and EY study finds significant growth of advisory services in financial professionals’ business mix across multiple types of advisor channels. The largest growth of fee-based advisory services comes from full-service broker-dealer advisors,. This grew nearly five times, from 10 percent in 2008 to 48 percent in 2018. “As competition grows, consumers now expect their financial advisor to ...

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NAIFA’s Diversity Symposium Offers Help in Finding Success in the Women’s Market

  NAIFA’s recent Diversity Symposium was a valuable source of information about an important market segment for agents and financial advisors—women. Held during the association’s Performance + Purpose Conference in San Antonio last month, the symposium brought together industry experts, leaders and visionaries who shared time-tested solutions for attracting women to the financial-services industry and proven techniques for working successfully ...

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