Members of the long-term care (LTC) planning community are trying to shake off the challenges facing life insurers this month and focus on getting consumers to think about LTC needs.
November is Long-Term Care Awareness Month.
Genworth Financial is trying to make the most of the month by holding a briefing in New York this week on the effects of aging on financial planning. The company is streaming the event live on the Web. Northwestern Mutual released results of an LTC planning survey last week.
Trade groups are also joining in. The National Association of Insurance and Financial Advisors (NAIFA) ran a blog entry encouraging members to learn more about LTC planning, and NAIFA’s New Mexico chapter got Gov. Susana Martinez to sign a proclamation recognizing the awareness effort. The group organized a panel discussion on LTC planning that included a local elder law attorney and the administrator of an LTC facility.
The Wisconsin Education Association — a labor group for teachers — posted an awareness month infographic on its website.
Many brokers, agents and other financial professionals are also taking part.
MAGA Insurance Services notes in its latest long-term care insurance (LTCI) newsletter that, at MAGA, “every month is Long-Term Care Awareness Month.” But, in its latest newsletter, the firm has told agents and brokers about a new trend at nursing homes: facilities using filial responsibility laws to sue residents’ adult children over unpaid bills.