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August 2014 Archives

Your source for the latest health, disability and insurance news and tips.

Why some couples faced with long-term disability choose divorce

We've talked about the importance of having long-term care insurance to help cover nursing home care and other assisted living expenses if a person becomes too ill or disabled to care for themselves. The critical importance of this coverage in protecting older people from potential financial ruin is obvious in an example provided by a certified financial planner. Sadly, this example is not an anomaly.

Courts reach varying decisions on ERISA cases

There have been some recent appellate court decisions involving the Employee Retirement Income Security Act of 1974 and in what instances ERISA, a federal law, can supersede or pre-empt state laws when employees make claims against their employers. According to the U.S. Department of Labor, ERISA "sets minimum standards for most voluntarily established pension and health plans in private industry." The ERISA Industry Committee looked at four of these decisions.

Ignoring disability insurance is a mistake

Our California readers, as well as those in other parts of the country, must realize at an early age that purchasing disability insurance would be in their best interest. This is a numbers game to a certain degree, meaning that consumers must consider the likelihood that they will become disabled at some point in the future.

Long-term care insurance can be obtained from a number of sources

We've previously discussed the importance of long-term care insurance as part of your overall retirement plan. The American Association of Retired Persons has a good amount of information about LTC insurance on its website. Amidst that information from AARP is a discussion of where people can go to obtain LTC insurance policies, many at discounted group rates.

You are not too young to purchase disability insurance

Many of our California readers understand the benefits of buying disability insurance. This is particularly true among those who are older, such as when closing in on retirement age and realizing that they could be disabled at some point later in life.

Important facts about the Employee Retirement Income Security Act

In California and all across the country, it is very important for people to know about the Employee Retirement Income Security Act, which is commonly known as ERISA. It is there to protect them when they are setting up a pension plan or getting employee benefits, ensuring that businesses, even those that are privately owned, have standards that must be met at all times. The act was put into place back in 1974.