Daily Quote: "A leader is one who knows the way, goes the way, and shows the way." - - John C Maxwell 1. Florida Seeks to Suspend American General License Thu Mar 20, 2008 3:01am EDT Learn to Trade with a FREE Guide.MIAMI (Reuters) - Florida's Office of Insurance Regulation said on Wednesday it was trying to suspend the license of American General Life Insurance because it had violated the right of life-insurance policy holders to travel. In what the office called the most high-profile incident of unfair trade practices, American General, part of American International Group Inc (AIG.N), had rebuffed an application by a U.S. congresswoman, Democratic Rep. Debbie Wasserman Schultz of Florida, to increase her life insurance in 2005. "She had indicated on her application that she had future plans for international travel. While Wasserman Schultz did not address specifics in the application, American General later called and spoke with her husband who indicated that there was a possibility that she may plan future travel to Israel," the office said in a statement. Florida General Counsel Steve Parton said the office did not take lightly the decision to seek to suspend the company's license through an administrative complaint. "The office has warned American General in the past but they have refused to change their practices," he said. Florida Insurance Commissioner Kevin McCarty said it was the first time his office had sought to revoke an insurance license for a violation of the Freedom to Travel Act. "We have just received the complaint filed by the Florida Office of Insurance Regulation. We take it seriously and are giving it immediate attention," AIG said. "We have put in place policies, procedures and controls to ensure compliance with this and other applicable regulations, and we are continually looking for ways to enhance those measures," AIG said. AIG said it would "cooperate fully" with the Florida Office of Insurance Regulation to ensure it may continue to offer insurance in Florida. AIG said it was its intention to comply with the Florida Freedom to Travel Act. (Reporting by Michael Christie, additional reporting by Jessica Hall; Editing by Mark Porter) © Reuters 2008 All rights reserved Return To Top - - Print Article / Read Entire Article California cuts Allstate auto insurance by 15.9 pct Tue Mar 18, 2008 6:39pm EDT SAN FRANCISCO, March 18 (Reuters) - Allstate Corp's (ALL.N) automobile insurance units in California must lower their rates by 15.9 percent effective April 14, marking an estimated $244.67 million in annual savings for consumers, the state's insurance commissioner said on Tuesday. "This reduction reaffirms my commitment to ensuring that excessive rates are not charged to California consumers. At the same time, the rate reduction is fair and reasonable for the company," Insurance Commissioner Steve Poizner said in a statement issued after an administrative judge recommended the reduction. Poizner's office estimates the reduction represents an average savings of $124 per vehicle annually for Allstate customers in California, Allstate considers the reduction to be excessive, said Patti Kelly, the insurer's spokeswoman. "We feel that it's unfair," Kelly said, adding that Allstate is reviewing the judge's recommendation for a possible appeal. "We're going to explore our options going forward." Northbrook, Illinois-based Allstate had expected a rate reduction of 8.4 percent, Kelly said. (editing by Richard Chang) © Reuters 2008 All rights reservedReturn To Top - - Print Article / Read Entire Article Willis Launches Second Network, Willis N2, for Community Brokers London, UK, March 20, 2008 – Following on from the success of the Willis Commercial Network, Willis Group Holdings (NYSE: WSH) today launched another unique offering, Willis N2 – a new network aimed at giving community brokers access to the Group’s global resources. Working in tandem with the existing Willis Commercial Network, Willis N2 will comprise of smaller brokers controlling between £1m and £2.5m premium who are largely commercial brokers, but will also have substantial books of personal lines business. Along with the Willis Commercial Network, Willis N2 is the UK’s only network set up and run by one of the world’s leading global brokers providing access to all its specialist expertise and services. Another unique feature of Willis N2 is that it allows the active involvement of Willis Commercial Network members with Willis N2 members in their area to provide on the ground help and support, fostering a true “networking” relationship. Mark Radburn, Managing Director of Willis Network comments, “We firmly believe there is a long term future for community brokers, who provide superb service to their clients. Membership of Willis N2 will help support them with strong insurer relations, very attractive commission levels, access to schemes and facilities, and the ability to work with Willis Commercial Network Members local to them, together with the Willis Network’s management team and other parts of Willis in the UK. All in all, a winning combination.” All members of Willis N2 will be able to access the major insurers who work with the Willis Network. In addition, they will receive compliance and marketing support together with managerial, technical and sales training. “We have ambitious plans to grow Willis N2 to over 200 members over the next several years,” continued Mr. Radburn. “While the new network will be distinct and separate from Willis Commercial Network, we have the great opportunity to allow each to interact for their mutual benefit.” www.willis.com Return To Top - - Print Article / Read Entire Article Republicans and Democrats diverge on health care Thu Mar 20, 2008 8:18am EDT WASHINGTON (Reuters) - Americans' views of the U.S. health care system differ widely based on political party preferences, with Republicans far more likely than Democrats to call it the world's best, a poll released on Thursday showed. People taking part in the survey by the Harvard University School of Public Health and Harris Interactive were asked if they thought the United States has the best health care system or if other countries had better ones. Overall, 45 percent said the U.S. system is best, 39 percent disagreed and 15 percent said they did not know or declined to answer. Clear differences appeared when the respondents were sorted by political party identification. Among Republicans, 68 percent said the United States is the best, compared to 32 percent of Democrats and 40 percent of independents. The survey was conducted from March 5 to 8, with a nationally representative sample of 1,026 people. It has a margin of error of plus or minus 3 percent. "We didn't think the split would be as large as it was between Republicans and Democrats," Robert Blendon, a Harvard professor of health policy and political analysis who helped design the survey, said in a telephone interview. "Just based on your party perspective, your view about whether or not there's something better out there, as a system, is so different," Blendon said. Runaway U.S. health-care spending and lack of medical coverage for millions of Americans have emerged as issues in this year's U.S. presidential campaign. An estimated 47 million people in a country of about 300 million have no health insurance, either private or government-provided. The non-profit Commonwealth Fund said in November Americans spend double what people in other industrialized nations do on health care, but have more trouble seeing doctors, face more medical errors and are more apt to go without treatment. Those findings came in a poll of 12,000 people in the United States, Britain, Germany, the Netherlands, Canada, New Zealand and Australia. British researchers said in January that the United States rated worst in rankings focusing on preventable deaths due to treatable conditions in 19 leading industrialized nations. In the Harvard survey, 26 percent of respondents said the United States is better than other countries in providing affordable health care access to everyone, and 21 percent felt the United States was better in controlling health care costs. Also, 55 percent of respondents said U.S. patients receive better quality of care than those in other nations and 53 percent said waiting times were shorter for U.S. patients to see specialists or be admitted to the hospital than elsewhere. (Reporting by Will Dunham; Editing by Maggie Fox and Eric Walsh) © Reuters 2008 All rights reserved Return To Top - - Print Article / Read Entire Article ACE Limited Announces Proposed Re-Domestication of Holding Company from Cayman Islands to Switzerland HAMILTON, Bermuda--(BUSINESS WIRE)--ACE Limited (NYSE:ACE) announced today that its board of directors has approved a re-domestication of the Company to move its place of incorporation from the Cayman Islands to Zurich, Switzerland. ACE’s shareholders will be asked to vote in favor of the proposal at ACE’s Annual General Meeting, which will be scheduled for July in Hamilton, Bermuda. If approved by ACE’s shareholders, and subject to certain regulatory approvals, ACE expects the re-domestication to be effective in July 2008. In connection with the re-domestication, ACE plans to establish a corporate holding company office in Zurich. Following the re-domestication, the ACE Group of Companies will continue to operate as they do currently. ACE Limited will continue to maintain executive offices in Bermuda, and ACE Group Holdings will continue to maintain executive offices in New York. The Company’s Bermuda insurance and reinsurance operations will continue to operate without material changes. ACE will continue to be registered with the Securities and Exchange Commission (SEC) and its common shares will continue to trade on the New York Stock Exchange under the ticker symbol “ACE.” "This move is part of the natural evolution of ACE from its beginning over two decades ago as a monoline excess insurer owned by its policyholders to a global publicly-traded insurance company operating throughout the developed and developing world," said Evan G. Greenberg, Chairman and Chief Executive Officer of ACE Limited. "Our incorporation in a major financial center, home to many global financial and insurance companies, will provide an improved corporate structure and an excellent location for further growth and expansion of our Company. We believe that this change in our corporate residency will provide us with better strategic flexibility, a solid legal and regulatory environment, and improved ability to manage our capital and our businesses. Switzerland also affords us the security of a network of tax treaties. At the same time, we intend to maintain the ACE Group’s operations in Bermuda, where we have conducted business since the inception of the Company." www.acelimited.com Return To Top - - Print Article / Read Entire Article Credit Suisse Warns On Q1; Shares Plunge Thu Mar 20, 2008 8:20am EDT ZURICH (Reuters) - Credit Suisse (CSGN.VX) warned it may make a loss in the first quarter, sparking fears among investors already spooked by February's trading scandal that it may suffer further writedowns. The bank's shares dropped more than 11 percent as it said unprecedented market conditions in March -- with wild swings in prices for stock and debt and emergency interventions by major central banks --had introduced new uncertainty and made any profit unlikely for the period. "This is clearly embarrassing for Credit Suisse and further damages the reputation that it had worked so hard to improve after years of reckless risk taking. Whilst we suspect that the bank has less suspect assets than UBS, our confidence in this view has diminished considerably as a result of these recent announcements," said Helvea analyst Peter Thorne. Brady Dougan, the American chief executive of the Swiss-based group, said an extended investigation had revealed no new valuation flaws since he was forced to reveal in February that CS traders had deliberately mispriced CDO debt derivatives. "We're operating in extremely volatile markets. The stress on the industry is evident," Dougan said in a conference call. (Additional reporting by Peter Maushagen, Albert Schmieder and Douwe Miedema; Editing by Louise Ireland) © Reuters 2008 All rights reserved Return To Top - - Print Article / Read Entire Article Hurricane Flood Threat Coming Soon To Google MIAMI, March 19 (Reuters) - Americans in the hurricane danger zone may soon be able to use Google (GOOG.O) to find out if their own home is threatened by a dangerous storm surge, the director of the National Hurricane Center said on Wednesday. Storm surge, the massive wall of water carried onto land by a hurricane, is considered perhaps its most destructive element and greatest threat to the lives of people who ignore evacuation orders in vulnerable coastal areas. Bill Read, who was appointed head of the Miami-based U.S. forecasting center in January, said a planned program will couple a Google application with storm surge data that meteorologists have used for years to determine the flooding threat from any category of storm. "People can plug in their address and see at what level they are at risk," Read told Reuters in an interview. He said he hoped the program would be available during the coming Atlantic hurricane season, which runs from June 1 to Nov. 30. Data gathered during Hurricane Katrina, which killed 1,500 people and caused $80 billion damage on the U.S. Gulf Coast in 2005, found the storm surge reached up to 22 feet (6.7 metres) above normal sea level in eastern Mississippi. Hurricane Andrew, the destructive Category 5 storm that hit the Miami area in 1992, pushed at least 16 feet (4.9 metres) of water ashore south of the city. The damage a storm can cause is largely dependent on its storm surge, and whether it hits a city or a sparsely populated area. Despite the catastrophic damage of Katrina, New Orleans was spared the worst of the surge. "With Katrina, 30 miles (48 km) to the west and everything that happened in New Orleans in two days would have happened in a matter of hours because the surge would have been much worse and it would have overtopped the levees," Read said. Hurricane forecasters use a computerized model called SLOSH (Sea, Lake and Overland Surges from Hurricanes) that estimates storm surge heights by taking into account the size, internal pressure, forward speed, track and wind strength of a hurricane. The idea to make it available to the public evolved from calls that inundate local emergency managers and weather forecast offices every time a hurricane threatens. Read said people ask what flooding will be like at their house. "We're not going to know that off the top of our heads," he said. "So we can say 'go to our Web site, go to such and such, and it's there." Hurricane forecasters will also offer a new color-coded graphic on the NHC Web site this year that will indicate storm surge probabilities for threatened areas, similar to forecasts they now offer on wind-speed probabilities. The graphic will indicate the probability of the surge reaching or exceeding five feet (1.5 metres) within a given number of hours, Read said. The graphic promises to help local emergency managers with key decisions such as when to lock down bridges and which roads could be washed out or need to be cleared. © Reuters 2008 All rights reserved Return To Top - - Print Article / Read Entire Article Merrill Files Suit Against XL CA; Shares Drop Thu Mar 20, 2008 3:01am EDT NEW YORK (Reuters) - Merrill Lynch & Co Inc (MER.N) said on Wednesday it sued XL Capital Assurance Inc seeking to stop the insurer from backing out of credit guarantees, fueling speculation the world's largest brokerage may need to take further write-downs. Merrill Lynch's shares fell 11 percent, reflecting the fragility of the investment banking sector after Bear Stearns Cos (BSC.N) faced a run on the bank and was forced to sell itself for a pittance. XL Capital Assurance, a unit of Security Capital Assurance Ltd (SCA.N), had agreed to protect about $3.1 billion of Merrill's portfolios of consumer debt against default. The SCA unit used credit default swaps to provide the guarantee, and its efforts to get out of the contracts reflects what could be a widening problem on Wall Street: cash-strapped bond insurers backing out of obligations. That in turn could force banks to choose between two unpalatable options: litigation or writing down the credit derivatives that provided the guarantees. Credit derivatives have mushroomed into a $45 trillion market in recent years as a way for investors to hedge risk and bet on credit, but some analysts have cast doubt over whether all counterparties in such trades have the capacity to make good on them. That is especially true with regard to bond insurers, which are among the few sellers of credit protection not required to post collateral. Merrill Lynch said in January that as of the end of 2007, it had about $3.45 billion of exposure to bond insurers for portfolios of asset-backed securities. "You never want to see litigation headlines cross on a company. That just adds fuel to the fire," said Peter Lobravico, vice president of risk arbitrage sales/trading at Wall Street Access. " He said speculation about a big write-down at Merrill, which has been swirling for a couple days, picked up steam on Wednesday. Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey, said there were rumors of a $12 billion write-down and a $6 billion private placement. "This is all speculation, but the bottom line is that there are write-down rumors at Merrill," said Saluzzi. "Either way, something stinks over there and the way the market has been lately is that people shoot first and ask questions later." Merrill said it does not comment on market rumors. (Additional reporting by Jessica Hall, Ellis Myandu, Karen Brettell and Dan Wilchins, editing by Andre Grenon/Leslie Gevirtz) © Reuters 2008 All rights reserved Return To Top - - Print Article / Read Entire Article Leading Chief Investment Officer Nick Sargen Shares Insights on Turmoil in the Financial Markets CINCINNATI--(BUSINESS WIRE)--Consumers are cautiously monitoring their retirement portfolios and institution executives are rethinking their investment strategies as revelations are beginning to emerge amidst the unprecedented turmoil in the financial markets. Western & Southern Financial Group’s (a Fortune 500 company) Chief Investment Officer Nick Sargen shared his insights on factors that have brought the financial system under such stress. “The origins of the current problems are rooted in the housing bubble that was created during a period of record low interest rates, easy credit and lax underwriting standards for subprime borrowers,” stated Mr. Sargen. Mr. Sargen went on to say, “The issue today, however, is bigger and more complex, as problems have spread throughout U.S. credit markets and to some markets abroad. The process of securitization -- in which loans are packaged into pools of marketable securities -- has come to a halt for all but the highest rated instruments. Banks are now being forced to bring on to their balance sheets securities they previously held in separate vehicles. “Meanwhile, the capital of financial institutions is being reduced by large write-offs, which are now approaching $200 billion, and a process of deleveraging is underway. The institutions under the greatest strain are those with high leverage (20 - 30 times capital) and which require short-term borrowing to fund their operations,” explained Mr. Sargen. Mr. Sargen also predicted that the news about Bear Stearns is only the latest in a litany of revelations about troubled financial institutions, which collectively have undermined confidence. Western & Southern’s Chief Investment Officer Nick Sargen went on to explain how three powerful forces are pulling the economy into recession. “Negative job growth and flat consumer spending is indicative of a weakening economy. However, there are three dominant forces pulling our country’s economy into recession. The first is a collapse in housing prices. The second is a market-induced credit crunch. The third is a surge in oil and commodity prices that is eroding the purchasing power of U.S. consumers when household net worth also is falling." Situation May Worsen Before Getting Better According to Mr. Sargen, there is no sign conditions are stabilizing among housing prices, the market-induced credit crunch, and surge in oil and commodity prices. “Despite the drop in home prices, inventories of existing homes are at very high levels, and foreclosures are expected to exacerbate the situation. As a result, the consensus view now is that housing price declines cumulatively could reach 20% or more,” explained Mr. Sargen. Mr. Sargen went on to say, “This situation means the collateral behind mortgage-backed securities is falling in value, which increases potential write-downs for financial institutions: Indeed, the final tally could reach $400 billion or more. Finally, while we have been surprised by the recent surge in oil prices, further price increases may occur until the dollar stabilizes.” So, what should consumers and institutional investors be contemplating during these volatile economic times? Western & Southern’s Chief Investment Officer Nick Sargen suggested the following thoughts during these extraordinary times, “The current environment is as challenging and complex as any in the past four decades. Investors who are close to their strategic asset allocations and have well diversified portfolios should be in position to ride out the storm. On a tactical basis, high-quality portfolios are likely to outperform until there is greater clarity on the economy and financial system. Investors with such portfolios should be in position to capitalize on opportunities in credit markets and the stock market later on.” www.westernsouthern.com Return To Top - - Print Article / Read Entire Article Hiscox Launches Kidnap and Ransom Insurance to US Market Industry experts join Hiscox to spearhead launch and exclusive relationship with Control Risks NEW YORK, March 20 /PRNewswire/ -- The Hiscox Group (LSE: HSX.L), a leading provider of specialty insurance, today announced the launch of a kidnap and ransom (K&R) product to the US market, as well as the appointment of two kidnap and ransom insurance experts. Lisa Zanotelli and Derek Rogers joined Hiscox USA to develop and underwrite unique, stand-alone K&R insurance coverage. This will be written on an admitted basis through Hiscox USA's two New York locations in Manhattan and Armonk. http://www.hiscox.com Return To Top - - Print Article / Read Entire Article AIG Agency Auto Offers New Jersey Drivers a New Choice for Auto Insurance NEW YORK--(BUSINESS WIRE)--AIG Agency Auto, a division of the personal lines property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced it has entered the New Jersey marketplace to offer personal auto insurance to New Jersey drivers through independent insurance agents. Return To Top - - Print Article / Read Entire Article Want More Loyal Employees? Offer Them Backup Child and Elder Care, New Poll Finds This release shares results of an online poll showing that a vast majority of working parents would be more loyal to employers who offered them backup care assistance. SHELTON, CT, March 19, 2008—Employers looking to boost the commitment levels of their employees would do well to consider offering them access to a backup child and elder care program, according to a new poll by LifeCare®, Inc., provider of comprehensive specialty care services and a longtime leader in the work/life industry. Eighty-eight percent of all working parents responding to the online poll said that having access to an employer-sponsored backup care program would make them much more/more loyal. Here are the full results of the poll, conducted throughout the month of February on LifeCare's private web site among employees of its 1,500 client organizations: As a working parent, how would having access to an employer-sponsored backup child and elder care program affect your loyalty to your employer?
"It's well known that backup care programs help employers reduce their absenteeism and productivity losses but now we know that backup care also can significantly enhance employee loyalty," said LifeCare CEO, Peter G. Burki. "With such a strong return on investment, it's no wonder that the number of employers offering backup care has doubled year after year recently." LifeCare and its backup care partner, Children's Creative Learning Center (CCLC), offer clients access to the Backup Care Connection program, which helps individuals make backup care arrangements in advance so that they aren't forced to arrive at work late, leave early or take the day off when their regular care arrangements fall through. www.lifecare.com www.cclc.com Return To Top - - Print Article / Read Entire Article Fiserv Health Offers Family and Medical Leave Administration Will Help Customers Reduce Paperwork and Administrative Burden and Complements Fiserv Health’s Short-Term Disability Product WAUSAU, Wis.--(BUSINESS WIRE)--Fiserv Health announced it is now offering Family and Medical Leave Act (FMLA) administration services. The services include administration of federal and state family and medical leave acts as well as employer-specific family and medical leave policies. “Given that two-thirds of FMLA occurrences are concurrent with short-term disability, we believe our customers will benefit having one company administering both short-term disability and FMLA and helping them reduce the administrative burden and excess paperwork,” said Steve Goethel, vice president of Product Management for Fiserv Health, a business unit of UnitedHealthcare, a UnitedHealth Group (NYSE:UNH) company. www.fiservhealth.com Return To Top - - Print Article / Read Entire Article HealthPartners Introduces New Tools for Individual Market Membership in individual plans projected to double in five years BLOOMINGTON, Minn.--(BUSINESS WIRE)--HealthPartners has new online tools designed to simplify the process for choosing and applying for an individual health plan. HealthPartners developed the interactive tool after its market research showed that 41 percent of members reported being confused and had trouble selecting a plan. www.healthpartners.com Return To Top - - Print Article / Read Entire Article Veterinary Pet Insurance Data Reveals Well-Intended Pet Owners Unknowingly Poisoning Their Pets Pet Owners Unintentionally Harming Thousands of Pets Each Year BREA, Calif., March 20 /PRNewswire/ -- In the average household, many pets are only one bite away from disaster. Veterinary Pet Insurance (VPI), the nation's oldest and largest provider of pet health insurance, recently analyzed its medical claims data to determine the most commonly ingested household toxins and poisons. VPI ranked the toxic substances by the number of claims received in 2007 for each type. Shockingly, the most dangerous poisons by far are human medications intentionally given to pets by their owners. Following is the list of top household toxins, with 2007 claim counts and prevention pointers for each. For more information on common pet toxins and poisons, visit www.petinsurance.com/healthzone. Return To Top - - Print Article / Read Entire Article The Hartford Becomes Trusted Choice® Company Partner ALEXANDRIA, Va., March 20, 2008— The Hartford Financial Services Group (NYSE: HIG) announced today they will join the Trusted Choice® consumer brand movement. Trusted Choice® was launched in 2001 by the Independent Insurance Agents & Brokers of America (the Big “I”) and several independent agency companies to highlight the benefits independent agencies and brokerage firms offer consumers—choice of companies, customization of policies and advocacy support. www.TrustedChoice.com and www.thehartford.com Return To Top - - Print Article / Read Entire Article Benfield Inc. Selected as “Reinsurance Broker of the Year in the US” MINNEAPOLIS, MN – Benfield, the world’s leading independent reinsurance and risk intermediary, announced today that its US team was selected as “Reinsurance Broker of the Year in the US” by the readers of Reactions magazine. www.benfieldgroup.com Return To Top - - Print Article / Read Entire Article 18. Long-term care costs can put you between a rock and a hard place Long-term care costs can put you between a rock and a hard place. If you or your spouse ever needs to stay in a nursing home for an extended period, your lifetime savings could be depleted if you don’t have long-term-care insurance (LTCI). On the other hand, if you do buy insurance, you may spend a lot of money on something you’ll never use. Despite the cost, many people, especially married couples, should consider buying a policy, says Jerry Miccolis, a senior financial advisor with Briton Eaton Wealth Advisors, a fee-only planning firm in Morristown, N.J. If you’re truly wealthy, you may not need insurance because you can self-insure. If your assets are modest, you don’t need it because Medicaid will cover you once you’ve spent down to the limit. But if you’re in the middle, you probably need LTCI because care is so expensive: it can easily cost $100,000 a year, and someone with dementia may need care for many years. LTCI premiums can run from a few thousand to well over ten thousand dollars a year. Miccolis says to take these steps to cut your costs: • Consider a 90- or 180-day waiting period until benefits begin. By self-insuring the initial cost, instead of opting for immediate benefits or a 30-day wait, you’ll save a lot. • Buy 10 years of coverage instead of lifetime benefits. This cuts costs, and few people will need more than 10 years of care. • Buy when you’re in your 50s. The premiums for a 70-year-old can be more than triple that of a 50-year-old. • Get a tax deduction. A portion of LTCI premiums can be deducted from your federal income taxes. The older you are, the greater the possible deduction. Additionally, many states provide deductions or credits for LTCI. • Shop around. Rates vary substantially among insurers. Besides comparing individual policies, find out if your employer or professional association offers a group plan. • Two can live as cheaply as one. Well, not quite, but if you’re married, you can often get a discount by insuring both spouses. A “shared benefit” option lets you tap into your partner’s benefits when yours are exhausted. • Choose a lower daily benefit amount if you get inflation coverage. LTCI policies provide of a certain number dollars per day in coverage. If you’re in your 50s, you can choose a somewhat lower daily benefit if you also take a compounded cost-of-living adjustment. On the other hand, if you buy a policy in your 70s, you can save by buying a simple cost-of-living adjustment. “The best way to fund potential long-term care depends on your personal and family health history, your support network, and your financial situation. The issues are complex, and it takes careful analysis and research to come up with the best solution,” Miccolis says. Key Facts • Of those over 65 who are in nursing homes, half will leave within three months, but the average stay for the other half is 2.5 years. • 70% of people over 70 will eventually require a stay in a nursing home. • 20% of people between ages 85 and 94 will require a nursing home stay, of about five years • Overall, there’s about a 30% chance you’ll need an extended stay in a nursing home sometime in your life. Miccolis is a senior financial advisor specializing in financial planning, investment research and portfolio management. Brinton Eaton Wealth Advisors is a fee-only financial-planning, tax-advisory, and investment-management firm in Morristown, N.J. Web: http://www.brintoneaton.com Return To Top - - Print Article / Read Entire Article New Report Names The Ten Most Common Writing Problems Among Independent Insurance Agents MARCH 20TH. PORT WASHINGTON, NY - A new report published by The Communication Workshop names the ten most common writing problems among P/C as well as Life/Health professionals at independent insurance agencies, HMOs, and TPAs. The report is titled: "Overcoming the Ten Most Common Writing Problems Among Independent Insurance Agents." To receive your copy of this report, please e-mail: garyblake@aol.com www.writingworkshop.com Return To Top - - Print Article / Read Entire Article 20. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
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