For 35 years, Angela Jemmott and her five brothers paid premiums on a long-term care insurance policy for their 91-year-old mother. But the policy does not cover home health aides whose assistance allows her to stay in her Sacramento bungalow, near the friends and neighbors she loves. Her family pays $4,000 a month for that. […]
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A ‘Shadow’ Lending Market in the U.S., Funded by Insurance Premiums
In 2009, as the banking business was on the verge of being reshaped by new regulations in the wake of the great financial crisis, the private equity giant Apollo Global Management found a way to make money off the retirement savings of millions of everyday Americans. Through Athene, an insurer it helped create and later […]
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