Throughout 2024, AIP Marketing Alliance has centered a lot of conversation about financial products that could provide protection to your clients and prospects, such as life insurance, annuities, and even long-term care insurance.

With people spending time with (or remembering) fathers this weekend, AIPMA wants to raise awareness about an emotional issue, which could impact those Dads, Moms, and loved ones in our lives – elder abuse. While we hope Dads have a great Father’s Day Sunday of relaxation, Saturday is a chance to share some resources to protect the Dads, Moms, and loved ones of your clients.

Every year on June 15, World Elder Abuse Awareness Day (WEAAD) provides an opportunity to promote dialogue and action on the issue of elder abuse, neglect, and exploitation, according to the Administration of Community Living (ACJ). WEADD was launched by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations.

According to the National Center on Elder Abuse (NCEA), 1 in 10 adults aged 60+ in the U.S. experienced some form of abuse in the prior year. This organization also states 1 in 10 community-dwelling older adults experiences abuse every year and 1 in 2 older adults with cognitive impairment experiences abuse.

What is elder abuse? Elder abuse is any intentional or negligent act by a caregiver or a trusted person that causes or creates a serious risk of harm to an older adult. This abuse could include, but is not limited to, physical, emotional/psychological, sexual, neglect, financial, or even self-neglect.

To put things in perspective for financial elder abuse, scams targeting individuals aged 60 and older caused over $3.4 billion in losses in 2023 – an increase of approximately 11% from the year prior, according to the Federal Bureau of Investigation. The average victim of elder fraud lost $33,915 due to these crimes in 2023. Elder fraud complaints to the FBI’s Internet Crime Complaint Center (or IC3) increased by 14% in 2023, and associated losses increased by about 11%, according to IC3’s 2023 Elder Fraud Report, released April 30.

With more consumers turning age 65+ this year, elder abuse could affect your clients (and/or their loved ones) –

especially those consumers experiencing the “sandwich generation” of raising their younger children, and their need to care for their elder parents who may receive home or outside medical assistance.

AIPMA provides some of NCEA’s resources below for your use and review.

• Signs of Elder Abuse (physical, emotional, behavioral, and financial)
• Adult Protective Services (ACS) Fact Sheet
• Frequently Asked Questions About ELDER ABUSE, NEGLECT, and EXPLOITATION
• Issue Brief: Adult Protective Services and Multidisciplinary Partnerships
• National Center of Elder Abuse (NCEA) website
• Eldercare Locator – This site also provides multiple services.

If you believe an elderly person is being abused, you can leverage programs such as Adult Protective Services (APS) and the Long-Term Care Ombudsmen for assistance. For reporting numbers, contact Eldercare Locator at 1-800-677-1116 or visit eldercare.acl.gov.

For more than 40 years, AIP Marketing Alliance (AIPMA), an Integrity Company, serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. NOT AFFILIATED WITH OR ENDORSED BY THE GOVERNMENT OR THE MEDICARE PROGRAM.

AIP Marketing Alliance is committed to MORE in ’24 as we are launching a bunch of new resources to support our independent insurance wholesalers and agents. Visit our blog on aipma.com to stay informed on these upcoming launches and learn why wholesalers nationwide choose AIPMA as their distributor for selling life insurance, annuities, long-term care insurance, final expense, and much more. Ask about our lead services, myAIP CRM platform with customizable recruiter portal, and online tools/resources designed to grow your business.

AIP Marketing Alliance, an Integrity Company, has developed this electronic communication for informational and educational use only. Be advised, AIP Marketing Alliance, Inc. does not provide legal advice, tax advice, or guidance on issues involving securities laws, insurance laws nor securities or insurance regulations. This material should not be relied on as providing any such advice or guidance to either agents or retail consumers. Within this communication, AIPMA shares links for usage as information only. This content should not be interpreted as solicitation to purchase life insurance, annuities, or other products or as advice designed to meet your clients’ specific needs. Content involving fiduciary, tax, or legal advice should be directed to your legal, tax, and financial professionals for specific advice or product recommendations. AIPMA will not accept any legal liability resulting from any use of 3rd party material(s).