A.M. BestTV: Insurers: Don't Overlook Retiree Health Care Costs

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--

In this episode of A.M. BestTV, executives from Nationwide Financial and Genworth say health care costs in retirement aren't being fully addressed and how financial advisers should be taking a greater role in retirement health-care planning. John Carter, president and chief operating officer of Retirement Plans at Nationwide Financial, discussed an annual study that found that the number of affluent pre-retirees that said they were "terrified" about paying for health care in retirement had grown significantly from the previous year's study. In a similar survey, Genworth asked pre-retirees what they think they’ll need for an overall comfortable retirement. Genworth then asked retirees what they actually need. Charlie Gipple, the company’s national director of index products, said the gap between expectations and reality is eye-opening. The two executives discussed how the surveys found that financial advisers are not being utilized enough in retirement planning, especially in the face of drastically underestimated pre-retiree expectations about health care costs. Click on http://www.ambest.com/v.asp?v=retirement114 to view the video program.

People who appear in this episode include:

  • John Carter, President and Chief Operating Officer of Retirement Plans, Nationwide Financial
  • Charlie Gipple, National Director of Index Products, Genworth

A.M. BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday.

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A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contact:
A.M. Best
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
rachelle.morrow@ambest.com

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