A long-term care insurance company recently cancelled the insurance coverage of an elderly woman who accidently wrote the wrong amount on her premium check. The case illustrates the need for policyholders to pay attention to the details.
The Department of Housing and Urban Development has announced changes to the federal reverse mortgage program that will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.
For this reason, Medicare imposes fairly significant late-enrollment penalties for those who postpone signing up. To encourage everyone to sign up when they first become eligible, the program increases premiums based on how long a beneficiary waits to enroll.
After initially delaying a rule intended to prevent financial advisers from steering their clients to bad retirement investments, the Department of Labor announced that the rule will go into effect on June 9.