Monthly Archives November 2017

9 Things To Know About Robo-Advice

It seems everyone in the financial services industry is talking about “robos” and “robo-advice”. Here’s what you should know.     Robos are digital platforms. Investopedia defines robo-advice like this: “Robo-advisors are digital platforms that provide automated, algorithm-driven financial and investing services with little to no human supervision. A typical robo-advisor collects information from clients about their financial situation and future goals through an online survey, and then uses the data to offer advice and/or automatically invest client assets.1 “Other common designations for robo-advisors include “automated investment advisor,” “automated investment management” and “digital advice platforms.” They are all referring to
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Categories: Blog Posts.

November Is Long-Term Care Awareness Month. Hybrid Policy Sales Are Up. Here’s Why.

  Traditional long-term care insurance may be foundering, but long-term care coverage isn’t. Although sales of traditional LTC policies have fallen sharply in recent years, life insurance policies and annuities that carry LTC benefits are surging in popularity. Here is a brief synopsis from an article which appeared in Financial Planning this September. Read the full story here: LTC Strategies   Standalone, individual LTC policies fell to 91,000 in 2016 from 372,000 in 2004, according to LIMRA. Instead, Americans are turning to hybrid, or “combo” life insurance that can also pay for lifetime care. To a lesser extent, people are
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Categories: Blog Posts.

5 Things to Know About Long-Term Care (LTC)

  November is Long-Term Care Awareness month, and so Shurwest decided to research some of the latest data. Here is what we found.    70% of people 65+ will need some form of long-term care.1 However, not all of them will need to be in a nursing facility. Only 35% of people 65+ will need to be in a nursing care facility, for an average of one year. That doesn’t negate the fact that financial advisors need to plan for the worst case scenario, since the need for long-term care varies from person to person. (For instance, 20% will need
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Categories: Blog Posts.