LTC Bullet: The LTC Graduate Seminar
Friday, May 4, 2012
LTC Comment: Check out our newly updated version of the Center for Long-Term Care Reform’s classic “LTC Graduate Seminar,” after the ***news.***
*** THE ERIE, PENNSYLVANIA ESTATE PLANNING COUNCIL welcomed Steve Moses on Monday, May 1, 2012 to deliver a speech titled “Why Everything You Think You Know About Long-Term Care is Wrong.” A warm welcome preceded Steve’s talk and hearty appreciation followed, including a beautiful framed picture of a Great Lakes tall ship as a speaker’s gift. We thank Jeff Evans of Evans Capital Management, Inc. for arranging the program. ***
*** GENWORTH NEWS: “Michael Fraizer, the chairman and chief executive of Genworth Financial Inc. (GNW), resigned abruptly on Tuesday, two weeks after the insurance company postponed a plan to raise funds by selling shares of an Australian subsidiary. . . . Fraizer had led the company since before it was spun off by General Electric Co. (GE) in 2004, and had remained at the helm through the financial crisis, when Genworth's U.S. mortgage-insurance unit began posting hundreds of millions in operating losses. The company had struggled to get back on track, causing investors to punish Genworth's stock and, at times, publicly complain about the pace of the recovery. Shares had been down by 50% in the past year and 83% in the past five years. . . . One of the nation's biggest sellers of mortgage and long-term-care insurance, the Richmond, Va.,-based company was among the harder hit insurers when the real-estate bubble burst, thanks to its large exposure to the nation's housing woes through its U.S. mortgage insurer. . . . ‘Mike Frazier is an extremely capable individual but unfortunately, all of these businesses’ have proven problematic, said Andrew Kligerman, a stock analyst at UBS Securities. Kligerman nonetheless said he was ‘kind of stunned’ by Fraizer's departure.” (Erik Holm, “Update: Genworth CEO Resigns Abruptly, CFO Takes Over For Now,” Wall Street Journal, May 1, 2012) ***
*** SPOTLIGHT ON: Medicaid and
Medicare Key Numbers
LTC BULLET: THE LTC GRADUATE SEMINAR
LTC Comment: Remember the Center for Long-Term Care Reform's 2008 National Long-Term Care Consciousness Tour? Steve Moses criss-crossed the country in the Silver Bullet of Long-Term Care, a 16-ft. Airstream trailer towed by a silver FJ Cruiser. Check out some pictures here and a slide show here.
One of the highlights of our LTC Tour was the “Long-Term Care Graduate Seminar” which Steve Moses presented dozens of times to audiences of aspiring “AMGs.” (That’s Steve’s term for the “altruistic, masochistic geniuses” who endeavor to sell long-term care insurance, a product the government still gives away after the insurable event has occurred.)
In response to popular demand from audience members, we published a transcript of the two-hour grad seminar and posted it on the Center’s website in 2009. We’ve now posted an updated version of the program here. Check it out. Here’s what you’ll find:
1. Why does the public remain asleep about the risk and cost of long-term care?
2. Why are they about to be shocked awake?
3. How can you help more people protect themselves in the meantime?
· History of Long-Term Care and Why it Matters for Financial Advisors and LTCI Producers
I hope we’ve inspired you to take a closer look at the “LTC Graduate Seminar.” Steve Moses also conducts a full-day version of the grad seminar. If you’d like to have him deliver either version to your group live and in person, contact Damon at 206-283-7036 or email@example.com to schedule the program.