In addition to being featured the above mentioned Financial Post Magazine, I was recently asked to participate on a panel for the CBC’s Radio One show The Current. The show topic: Palliative care experts say it's time for Canadians to talk about end of life care. The program opened with an interview with U.S. oncologist Dr. Atul Gawande who has written a wonderful book “Being Mortal: [...]
It’s not as hard to make it to 100 as you think. Statistics Canada says there were 5,825 centenarians in 2011, up from 3,795 just a decade earlier. By 2061, the federal agency estimates close to 80,000 people will reach the century mark. There are five major things that determine how long you live. Smoking Being overweight Exercise The type of food you eat Your family [...]
I know a great deal about aging but this study surprised even me. They are called "the oldest old ‘ – those who are people age 90 and above, and they are the fastest-growing segment of the U.S. population. Yet very little is known about the oldest old, since until recently, there were so few of them. So what determines which of us will make it [...]
According to a Leger marketing survey in the latest issue of Investment Executive: 56% of Canadians are unaware of the costs of long-term care in their province, And most are unprepared for the prospect of incurring such costs. Two-thirds of those surveyed said they do not have a financial plan to cover the costs of ongoing long-term care, and only 10% of respondents plan to use [...]
I attended a lunch in February put on by the Institute for Research on Public Policy. The room was jammed, not an empty seat. Wonderful I thought…..maybe something may actually begin to change. The panel featured three speakers: David Baker, Sun Life Financial who made the case for long term care insurance. Michel Grignon, director of the Centre for health Economics and Policy at McMaster who [...]
[youtube id="Y1jln6yagtQ" width="600" height="350"] Karen was recently interviewed by Jason Heath, a Fee-Only / Advice-Only Financial Planner & Income Tax Professional at Objective Financial Partners Inc. Watch on YouTube CONTACT KAREN TO LEARN MORE ABOUT HER SPEAKING/COACHING EXPERTISE.
A new report from the C.D. Howe Institute calls for innovative reforms to prepare for the coming surge in demand for long-term care services that will be driven by aging baby boomers. It poses two questions: What is the right combination of public and private coverage in long-term care? How could governments fund long-term care more efficiently and reduce costs in the healthcare system as a [...]
In June 2012 CLHIA (Canadian Life and health Insurance Association Inc.) released an extensive policy paper entitled Improving the Accessibility, Quality and Sustainability of Long Term Care in Canada. This paper examines the future cost of long term care in Canada over the next 35 years to support the baby boomers as they pass through old age and concludes that a significant funding gap exists. Conservatively, the cost [...]
TERRY CAIN The Globe and Mail It's that nagging feeling. I have insurance - but is it enough? Is it the right kind? How do I know? Most people who earn income and have a family have some form of life insurance - either through an employer group plan, or on their own. Many people have both, after deciding their group life insurance wouldn't adequately cover [...]
Alzheimer's disease, stroke and arthritis rank as the top causes of for long term care insurance claims according to research. Insurers paid $6.1 billion in claims according to the American Association for Long-Term Care Insurance. Approximately 200,000 Americans receive benefit payments as a result of owning long term care insurance and a new study reveals the top causes of requests for claims. "Insurers paid out $6.1 billion [...]
(Source: US News and World Report) - Research released at an international Alzheimer's conference in Paris found that seven risk factors may contribute to as many as three million cases of Alzheimer's in the United States. The operative word here is "may". The research identified potentially modifiable Alzheimer's risk factors, and the proportion of cases that are potentially attributable to each factor: Physical inactivity: 21 percent [...]
By James Daw Two Kitchener brokers have developed a new insurance policy to protect you if you become an executor or trustee and you fear being sued by dissatisfied heirs. The Waterloo insurer that backs the insurance would pay for a lawyer to defend you against allegations you sold property or investments at the wrong time or price, played favourites with heirs or put your own [...]
