Financial advisors find that clients are interested in long-term care solutions but often struggle to move from interest to planning, said Steve Cain of LTCi Partners during a recent Long-Term Care Impact Day held by NAIFA. Cain shared strategies for bridging this gap, such as asking insightful questions and sharing real-life stories. Cain also recommended that advisors integrate LTC planning into comprehensive financial discussions, avoid vague follow-ups and explain insurance options in simple terms.

Individual disability insurance sales have surged, with 2023 seeing a 7.8% increase in new annualized premiums, the largest in two decades. This growth is attributed to the COVID-19 pandemic, which highlighted the vulnerability of income and the importance of income protection. Inflation has also driven demand for higher benefits and inflation-indexed features. Adam Sendzischew of Jones Lowry encourages advisors to address these concerns by offering comprehensive coverage tailored to the needs of different age groups, from young professionals to pre-retirees.

AI is transforming the insurance industry by improving premium calculations, fraud detection and customer transparency, notes Jose Luis Bernal of MAPFRE USA. AI's ability to provide accurate and explainable pricing builds trust among customers, while its fraud detection capabilities ensure honest customers aren't penalized, he says.

Wealth managers in the US are increasingly using evergreen fund structures to provide clients with access to private markets, according to a report by With Intelligence. The report highlights the growing importance of private credit, private equity and real estate investment trusts in wealth management portfolios.

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The National Association of Insurance Commissioners' Risk-Based Capital Model Governance Task Force is preparing to vote on a set of risk-based capital principles, including a controversial proposal to ban insurers from publishing their RBC ratios. The principles aim to clarify the purpose and use of RBC data, with discussions emphasizing the need to identify "potentially weakly capitalized" companies.

Women are becoming a significant force in retirement planning, driven by increasing wealth, a forward-thinking attitude and longer life expectancy, writes Don Connelly. Advisors need to adapt by engaging women as primary decision-makers and building relationships based on inclusion and trust. Women are not a niche market; they are the market," Connelly writes.