Beating COVID-19: Tips for Your Insurance, Finances, and Business - May 11, 2020

May 11, 2020
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News. Insights. Analysis. Inspiration.


"Goldman And Morgan Stanley: The Worst Is Behind Us"

From Wealth Advisor:

* Wall Street giants seem to be siding with optimistic views of President Trump. According to Jan Hatzius, chief economist from Goldman Sachs, the world economy has already bottomed as most countries are thinking of reducing the social distancing protocols and cautiously moving toward reopening their economies.



"Plastic shields, capes: How salons, gyms plan to re-open after coronavirus closures"

From USA Today:

* When restrictions are lifted and you can finally venture outside to cut those overgrown bangs, don't expect business as usual at your local salon.

In fact, things might look a little different at your gym or nail parlor, too.



"How Employees’ Expectations Have Changed Through The Pandemic: What Leaders And HR Officers Need To Know"

From Forbes:

* Increased inclusion in this pandemic environment is driving an expectation that individual needs for work-life balance will be respected in new ways in the future. As the world has fundamentally changed, so has the fact that employees are working in ways that make sense for them. 


* For those industries where remote workers still drive performance, employees expect that flexibility to continue. Leaders have acknowledged the potential of cutting down office space, flexing work-day schedules where possible and the need to involve employees in developing policies that meet the needs of families. But it’s the mindset shift to become even more inclusive that employees will expect to see, along with the policies to sustain them in the future.  


* Employees now understand the notion of doing more with less and will expect companies to implement more agile strategies that foster simplicity.



"Unum to Add $2.1 Billion to Long-Term Care Insurance Reserves Over 7 Years"

From Think Advisor:

* The company mentioned briefly, in its earnings release for the first quarter, that the interest-adjusted loss ratio, or ratio of benefits payments to revenue, for its LTCI business fell to 81% in the latest quarter, from 88.5% in the first quarter of 2019.

The decrease was “driven primarily by higher claimant mortality,” Unum reported.


SK Comment:

With more policy holders unfortunately dying, less claims are being filed for long term care benefits.



"Super-rich using extra time in lockdown to transfer millions to their heirs before (if) Trump loses re-election"

From Wealth Advisor:

* Wealthy Americans are transferring money tax-free to their heirs, thanks to the coronavirus pandemic and concerns that President Donald Trump might lose re-election.



"A wartime president and his new chief of staff"

From Washington Examiner:

* His personal story embodies the American Dream. In 1987, with a $25,000 line of credit, Meadows and his wife, Debbie, opened a restaurant, later selling it, before opening up a local real estate business.

This is the kind of person we need right now serving as chief of staff to the president during this public health and economic crisis, someone with real-world experience and unquestionable business bona fides.

Meadows is also widely respected by his former colleagues in Congress. In his new role as chief of staff, having a private sector background and a deep knowledge and understanding of Congress, with friends on both sides of the aisle, is proving to be a tremendous asset to the president as we deal with this historic crisis.

This will make a big difference in the war we fight against the COVID-19 pandemic.



Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here