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November 9, 2012
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News covering the insurance and financial advising industry

  Top Story 
  • The appeal and importance of long-term-care insurance
    Long-term-care insurance isn't easy to sell, with about 8 million of the 300 million people in the U.S. having such coverage, write Jay Starkman and Dorothy Miraglia. The need for and costs of long-term care rise as the U.S. population ages, bringing with it a bigger need for long-term-care insurance, they write. Long-term-care coverage appeals to many people because of its flexibility and wide range of benefits, and agents and brokers should market it to consumers of all ages as the best solution for the problem of rising long-term-care costs, they write. (11/7) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • A look at the upsides of new deferred annuities
    New deferred-annuity products reduce the amount of time clients must wait to begin drawing retirement income to five years after purchase, William Byrnes and Robert Bloink writes. Options such as moving funds into deferred annuities from traditional retirement accounts and collecting or reinvesting nonguaranteed cash dividends over the life of the product may make them of particular interest to baby boomers who may lack pensions, Byrnes and Bloink write. AdvisorOne (11/8) LinkedInFacebookTwitterEmail this Story
  • Financial advisers should expect more regulatory changes
    President Barack Obama's re-election has taken much of the uncertainty out of the markets, but financial advisers still face possible regulatory changes. The Securities and Exchange Commission is facing calls for tougher ethical standards for brokers, and Congress will consider an effort to outsource investment adviser oversight. InvestmentNews (free registration) (11/7), The Wall Street Journal (11/9) LinkedInFacebookTwitterEmail this Story
  • Roth conversions take on new urgency
    Tax rates may rise next year, and for many investors, that means the time is now for converting a regular IRA to a Roth. Either the conversion must take place before Jan. 1 or investors can set up a series of conversions to avoid the worst of a tax hit, the article notes. (11/7) LinkedInFacebookTwitterEmail this Story
  • Other News
  Investment Trends 
  • Survey: Retirement is a priority in words but not deeds
    About 70% of investors ages 21 to 50 say saving for retirement is their main financial priority, yet most aren't putting away enough to ensure a comfortable postretirement lifestyle, according to a T. Rowe Price survey. About two-thirds of respondents are contributing less than 10% of their income to a 401(k), 37% are avoiding stocks and only 16% expect to receive Social Security benefits, according to the survey. (11/8) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • MLR exemption may cost $1.1B over a decade, CBO says
    Legislation to remove what insurers say would be a "devastating financial impact" on agents and brokers could increase the U.S. budget deficit by as much as $1.1 billion by 2022, according to a Congressional Budget Office analysis. The bill, which would exempt agents' commissions from the Affordable Care Act's medical loss ratio requirements, has the support of Republicans and the insurance industry. (11/8) LinkedInFacebookTwitterEmail this Story
  • "Fiscal cliff" may drive investors to life insurance, experts say
    The looming "fiscal cliff" could be a boon for financial advisers and life insurance agents as clients seek strategies to avoid expected tax hikes, according to experts with BMO Financial Group. "To the extent that life insurance plays a critical role in tax avoidance strategies for estate tax and other tax-related issues, [President Barack Obama's victory] could present a much bigger opportunity and expanding role of life insurance," said Jack Ablin of BMO Private Bank. National Underwriter Life & Health (11/8) LinkedInFacebookTwitterEmail this Story
  • Other News
  Building Your Business 
  NAIFA News 
  • Exclusive savings on HP business products for NAIFA members
    NAIFA members can enjoy special pricing on HP business products, including printers, notebooks, desktops, tablets, servers, storage, networking and much more. Plus, get free U.S. ground shipping. If you have questions or would like to order by phone, call 800-888-6079 and mention code NAIFA. To shop online, visit LinkedInFacebookTwitterEmail this Story
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Ideals are like stars ... you choose them as your guides, and following them, you will reach your destiny."
--Carl Schurz,
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