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March 14, 2013
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News covering the insurance and financial advising industry

  Top Story 
  • Survey: Typical LTCI premiums increased 20% in the past year
    The annual long-term-care insurance premium for a single 55-year-old individual purchasing $162,000 in current benefits has increased 20%, to $2,065, since last year, according to a survey of 12 insurers by the American Association for Long-Term Care Insurance. That follows a 16% increase in policy costs last year, the group said. The increase can be attributed to higher claims costs and diminished yields on investments, according to Jesse Slome, the group's executive director. National Underwriter Life & Health (3/13) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Advisers see tax-deferred annuities growing in importance, poll finds
    An Insured Retirement Institute poll found that 28% of financial advisers think tax-deferred annuities will gain importance in the next five years, compared with 20% who shared such an opinion in 2011. The outlook for increased taxes is a key consideration, the group said in a report. "The federal government will continue to look for ways to resolve the coming fiscal imbalances noted by the [Congressional Budget Office], potentially through increases in revenue and reductions in spending," the report said. (3/13) LinkedInFacebookTwitterEmail this Story
  • 3 in 4 Americans are anxious about retirement, survey finds
    Thinking about retirement finances is a cause of anxiety for nearly 75% of Americans, according to a survey by Franklin Templeton Investments. In addition, 37% expressed increasing worry about outliving their retirement assets or facing significant sacrifices in retirement plans. Retirement savings total $100,000 or less for 68% of people 45 to 54 and half of the 55-to-64 age group, the survey found. (3/13) LinkedInFacebookTwitterEmail this Story
  Investment Trends 
  • Advisers, clients await guidance on Roth 401(k) conversions
    Financial advisers are awaiting guidance from the Internal Revenue Service and Treasury Department before advising clients whether to convert part of a 401(k) plan to a Roth 401(k), says Bob Kaplan of ING. The conversions are taxable, but it's unclear whether the taxes may be paid from the converted money or whether converted funds must be vested, he said. Kaplan also pointed out that Roth conversions are allowed only with 401(k), 403(b) and 457(b) plans. "We can't add a Roth conversion to any other type of plan, like a defined-benefit, cash-balance or profit-sharing type of plan with no 401(k) feature," he said. (3/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  Policy Watch 
  • Senate Democrats take budget stance on health cuts
    Democrats led by Senate Budget Committee Chairwoman Patty Murray, D-Wash., introduced a 10-year budget plan that includes relatively smaller Medicare and Medicaid cuts. The plan challenges President Barack Obama's renewed efforts to strike a budget bargain with Republicans that includes Medicare and Social Security cuts. The Senate proposal would take $275 billion from Medicaid and Medicare instead of the $400 billion in Medicare savings the president proposed. The Washington Post (3/13) LinkedInFacebookTwitterEmail this Story
  • Commentary: Stick to formula behind Part D's success
    The pricing model that helped make Medicare Part D as affordable and successful as it is should be maintained, writes Paul Howard of the Manhattan Institute's Center for Medical Progress. Better ways to improve care while containing costs include capping increases to federal health expenditures and improving the coordination of care for seniors who are eligible for both Medicare and Medicaid. Bloomberg (3/13) LinkedInFacebookTwitterEmail this Story
  Building Your Business 
  • Exec shares 7 ideas for a more-secure retirement
    Financial advisers need to rethink how they guide clients toward retirement in an environment now marked by lower returns and more-volatile markets, says Putnam Investments CEO Robert Reynolds. Among his ideas: Look beyond mainstream indexes, focus on income-generating dividend stocks and use absolute-return strategies alongside benchmarked investments. Financial Advisor online (3/12) LinkedInFacebookTwitterEmail this Story
  NAIFA News 
  • NAIFA wants to enhance your membership experience
    Take a moment to update your member profile with communication preferences and demographic information. By learning more about you, NAIFA can better serve you and provide the benefits, tools and resources you want and need. LinkedInFacebookTwitterEmail this Story
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People may say I can't sing, but no one can ever say I didn't sing."
--Florence Foster Jenkins,
American amateur operatic soprano

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