Long-term care insurance may go way of the dinosaur
InvestmentNews
As more life insurers abandon long-term-care insurance, actuaries and financial advisors are questioning the viability of the product and arguing that if it remains unchanged, it eventually will serve just a tiny niche market. "It's fair to say that this product will continue to shrink and give way to combination products," said Cynthia J. Crosson, director of insurance at Fitch Ratings Ltd. "Claims are going up and people are living longer; it's a tough nut to crack."More

Polls: Current financial concerns trump planning for retirement
Registered Rep.
Financial advisors may have more hand-holding to do with clients. The glum outlook for American retirement appeared little improved with the release of two separate reports that showed continued worker skepticism about their prospects. In its annual survey on the state of retirement, the Employee Benefit Research Institute said the percentage of workers who feel confident about having enough money for a secure retirement is at just 14 percent, statistically unchanged from a year ago.More

Gender gap persists in cost of health insurance
The New York Times
Women still pay more than men for the same health insurance coverage, according to new research and data from online brokers. The new health care law will prohibit such "gender rating," starting in 2014. But gaps persist in most states, with no evidence that insurers have taken steps to reduce them. More

20-somethings stressed by $45,000 in average debt
Business Investment Consultants
Twenty-somethings are struggling under a mountain of debt averaging $45,000, according to a survey by The PNC Financial Services Group Inc. The survey found that the debt of 20-somethings increases as they move into their late 20s, with debt levels averaging $12,000 for 20- to 21-year-olds and $78,000 for 28- to 29-year-olds. Meanwhile, the portion of income saved declines as they grow older, the survey found. More

Insurance brokers hopeful they have role in health insurance exchanges
Business Insurance
Insurance brokers are expressing guarded optimism in the wake of the recent announcement of final rules made by the Department of Health and Human Services concerning health insurance exchanges. Although the state-based exchanges are a primary feature of the Patient Protection and Affordable Care Act, the role of brokers in the exchanges has remained a subject of dispute.More

Supreme Court to release audio of health reform legal debate each day
Ifawebnews.com
The U.S. Supreme Court will depart from its normal practice and make audio recordings of the three days of hearings on the constitutionality of the federal health reform law available each afternoon.More

What do you tell clients about PPACA?
LifeHealthPro
Even some busy health insurance brokers have a hard time keeping track of all of the many complicated things the Patient Protection and Affordable Care Act is supposed to do. If something gets in the way of PPACA implementation, all bets are off. In the meantime, here is a PPACA implementation primer, to help brokers organize their thoughts about the act and come up with clear, concise explanations for their clients.More

RIAs, wirehouse and bank advisors' use of social media booming
On Wall Street
Advisors may still feel a bit awkward as well as worried about compliance when they use social media, but they're definitely using it to build their brands and businesses, according to a new study by SourceMedia. Over half of nearly 900 independent, wirehouse and bank advisors surveyed say they rely on social media for both business and personal use. More

The Society of FSP approves the AEP® credential for Society membership
Society of FSP
On Jan. 19, during its board of directors meeting, the Society of FSP approved the Accredited Estate Planner® designation as eligible for FSP membership. The Society examined the educational and experience requirements to earn this credential; the continuing education and ethics requirements to maintain it; and other information it deemed relevant regarding the credibility of the AEP® in the professional community. Based on its examination, the Society concluded that allowing holders of the AEP® designation to be FSP members is most appropriate. For more information visit, AEP® credential approved for membership.More