We have moved our St. Louis office! We love our new space with room to grow.

You will find us at:
8229 Clayton Rd., Suite 200B (2nd floor)
St. Louis, MO  63117

We are in Richmond Heights, just west of Brentwood Blvd., directly across from the Galleria's Clayton Rd. entrance.  If you remember the Scholarshop, we're next door, just left of the old location.

Our phone number and e-mail addresses stay the same.

We are pleased to be sharing a suite with Allstate agent Matt Stark and his team. Matt has attended CLTC continuing education training with Bill Comfort in the past and we are thankful for many other personal and professional connections that should make this a great new location for our business and all of our clients, agents, and advisor partners.

Give Cindy a call and schedule a time to stop by and see us!

A recent column in the National Law Review on long-term care planning and the importance of LTC insurance states unequivocally:

Want to know how to identify an experienced LTC specialist?  Read our 5-Tips by clicking the button below:

Penn Treaty Network America LTC insurance company will now go into liquidation. A Pennsylvania court gave the PA Department of Insurance final approval to liquidate the LTCI company on March 1st.  Benefits will still be payable if premiums continue to be paid on-time, but according to the PA DOI about 50% of policyholders may have their benefits limited.

Liquidation means that the claims liabilities now fall to individual states' insurance "guarantee funds" which most commonly limit total benefits to $300,000.  A few states are slightly higher and a couple - including Missouri - have a cap of only $100,000 for LTC insurance.  Note that in most cases you would be covered by your state of residence at the time of liquidation (March 1, 2017), NOT the state where you bought the policy.

While this insurance company failure is being reported as the largest financially in US history, it's important to note that Penn Treaty's policyholders account for only one-percent (1%) of all LTC insurance policyholders in-force, and that along with grossly under-pricing its overly-liberal policy benefits, Penn Treaty accepted people with health risks that no other insurance company would consider.

My general advice to Penn Treaty policyholders: Keep your coverage, especially if you are older or uninsurable and cannot replace your coverage.  Even if you could qualify for a replacement, you may be better off keeping Penn Treaty on a limited basis.

Contact us for a policy/coverage review.

According to the PA DOI, Policyholders with questions about policies, claims, or related to liquidation should call Policyholder Services at:  1-800-362-0700.

We are hearing stories almost daily of unscrupulous agents urgently telling their clients to immediately replace their in-force long-term care (LTC) insurance for a variety of reasons, all bad:

• A premium rate increase itself is never a reason to replace your coverage.  You will pay much more - in some cases two to three times more - for a new policy with the same benefits.  Even with a rate increase, your policies still have an "original issue age" price, and will cost you less than a replacement.  If you need to lower your premium after a rate increase you can always reduce your current policy's benefits to a more affordable level, which again will be cheaper than a new policy with lower benefits.
• Just because premiums have increased for older policies, does NOT mean they will continue to increase in the future, or increase at the same rate and frequency.  In fact, today's new rates (which the older policies are being adjusted up to) are already showing evidence of being more rate stable than ever.
• A lower financial-strength rating on the current policy compared to a replacement company is also not a good reason to replace your coverage.  The risk of financial failure of large insurance companies is rare.  (If you are told a scary story about a Pennsylvania company (PennTreaty) that is being liquidated with $8-billion-something dollars in claim liabilities, you should understand that 90% of all policyholders will still receive all of their benefits if they go on claim in the future, and the other 10% will receive most of their benefits through the state insurance guarantee associations.  That company also represents only a couple percent of all LTC insurance in-force.)
• Finally, we're hearing that some agents are trying to scare Genworth policyholders into replacing their coverage because a Chinese investor is trying to buy the company.  First, Genworth will remain a US company, subject to all federal and state insurance regulations.  The policy reserves that provide the foundation for current and future claims payments are protected by law, no foreign OR US buyer can strip the legal reserves out of any insurance company.  Did you know that John Hancock is owned by a Canadian company (Manulife)?  And that Transamerica is owned by a Dutch company (Aegon)?

This is a fun ... and serious read about the importance of planning ahead for extended care (long-term care) needs!  The five points:

Here is the link to the full article:
http://www.forbes.com/sites/jamiehopkins/2017/02/14/willywonkalongtermcare/#615d033c33e0

And remember, a little chocolate always helps!