A study of programs in other countries provides insights for Canada, the National Institute on Ageing says
The news follows Manulife’s announcement early last month that it would discontinue new sales of LTC insurance as of the end of November
Hybrid concept could be more appealing than LTC insurance
The insurer will stop accepting new applications at the end of the month
National Best Financial Network’s website, Canadian LTCi, generates a comparison of available LTC policies for Canadians who enter their relevant details
Most Canadians think government programs will cover LTC
Clients may be shocked at the amount of the premium increase
Working longer may not be possible after serious health events
Slimmed-down long-term care products are designed to appeal to cost-conscious clients
Advisors need to have a serious talk with clients about their preferred living arrangements in retirement