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Summer '07
Newsletter
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May 2nd, 2008
New Alzheimer’s Foundation for
Caregiving in Canada is Established
Group is Sister Organization to Alzheimer’s Foundation of
America
RICHMOND HILL,
ONTARIO—As
Canada braces for an escalating incidence of Alzheimer’s
disease in the coming decades, a new nonprofit organization
has emerged on the scene to provide care-related services to
individuals with the brain disorder and their families, as
well as highlight the importance of early diagnosis and
intervention.
The Alzheimer’s Foundation for
Caregiving in Canada, Inc. (AFCC) today announced its
establishment as a national nonprofit organization with the
mission of “providing optimal care and services to
individuals confronting dementia, and to their caregivers
and families—through member organizations dedicated to
improving quality of life.”
AFCC is a
sister organization to the Alzheimer’s Foundation of
America, a nonprofit organization based in New York that
unites more than 800 member agencies in the United States
and is the leading advocate for early detection of
Alzheimer’s disease and related disorders. It marks AFA’s
first counterpart organization outside the United States.
As one of
its first major initiatives, AFCC will hold
Canada’s
inaugural National Memory Screening Day on November 18,
offering free confidential screenings to those with memory
concerns. Qualified healthcare professionals will administer
the face-to-face screenings at convenient venues across
Canada;
screening results do not represent a diagnosis, but can
indicate whether someone should pursue further evaluation.
The event
patterns AFA’s National Memory Screening Day, which AFA has
held annually in the United States
since 2003. Last year, more than 40,000 people were screened
at approximately 2,000 sites from coast to coast.
The announcement of AFCC’s
formation coincides with the observance of Mother’s Day on
May 11—a time when families celebrate their loved ones, but
also when some may note warning signs of dementia, such as
memory loss, confusion and decline in verbal skills.
Currently, an estimated 450,000
Canadians aged 65 and older have some form of dementia,
including two-thirds with Alzheimer’s disease. Women
represent two-thirds of those with the illness. This number
is expected to increase to 778,000 by 2031.
“Our hope is that our new
Canadian organization will ease the way for families facing
this heartbreaking disease, giving them the critical support
they need and the knowledge that they are not alone,” said
Eric J. Hall, founding chief executive officer of both AFA
and AFCC.
Hall also announced that AFCC’s
first president is Taras W. Rohatyn, who brings a wealth of
nonprofit, government and advocacy experience to the
position. Previously, he led the Association for Persons
with Physical Disabilities of Windsor and
Essex
County
for 12 years.
“It is an
exciting prospect to know that AFCC’s presence will be able
to change lives in Canada,”
Rohatyn said. “By collaborating with member organizations
that provide direct services in their communities, we will
meet the educational, practical and emotional needs of
families head-on.”
For
more information about the Alzheimer’s Foundation for
Caregiving in
Canada, visit
www.alzfdn.ca or call
(toll-free) 1-877-321-2594.
November 4, 2007
Protect
yourself and your loved ones
The Oregon Department
of Consumer and Business Services is launching a
campaign to educate seniors and their families on
types of financial abuse they may be subjected to.
The department will be putting on presentations
around the state to discuss predatory marketing by
insurance agents and security brokers, the law that
requires agents and brokers to ensure a product is
suitable for the buyer, and the insurance and
investment-related scams aimed at our senior
citizens. The department has also developed several
free publications that will assist seniors and their
loved ones when faced with a situation that may
involve unscrupulous financial dealings.
Seniors are tempting
targets for unscrupulous or deceptive sales
practices, because they are at a point in life where
decisions about large sums of money from a lifetime
of savings and asset appreciation are being made. It
can be difficult to separate financial decisions
made for legitimate reasons, from pressured
decisions that may cause financial harm.
Actual cases being
investigated by the Oregon Department of Consumer &
Business Services include:
A 92 year old was
sold a five-year term annuity that tied up his money
and had large penalties for early withdrawal.
An agent
misrepresented a product to an 80-year-old widow and
convinced her to cash out her deceased husband’s
annuities, which could have been continued under her
name. The agent received a large commission on a new
product she purchased, and the widow lost earnings
on the annuity.
An ill 77 year old
had no access to his money, having been talked into
purchasing a 5-year annuity. He died the same year.
A recently widowed 78
year old was induced to surrender her existing
annuities worth $706,419 and purchase eight new
annuities, causing her a financial loss of
approximately $85,000.
An insurance agent
was caught in a bank trying to cash out an 87 year
old widow’s CD in order to write a 10-year fixed
annuity. The application paperwork the agent had was
blank except for the widow’s signature.
An agent sold a $7000
life insurance policy to an 80-year-old widow with
Alzheimer’s.
An insurance agent put all the
liquid assets of a couple aged 84 and 76 into an
annuity, leaving them with only $3500 while earning
the agent a large commission.
An agent sold an
annuity to an 83 year old who didn’t understand the
product. When money was needed, the family had to
pay over $93,000 in penalties for early withdrawal.
Fortunately, the
Department was able to help most of these
individuals in retrieving their losses, but the
Division knows they are only seeing a small portion
of the senior financial abuse that is occurring in
Oregon.
Learn about your
rights and the services that can help you. If you or
a loved one think you have been a victim of
unscrupulous behavior, contact the Department of
Consumer & Business Services, Oregon Insurance
Division, Consumer Advocacy Unit, 1-888-877-4984 or
503-947-7984 in Salem. Consumer advocates also help
Oregonians with any of their insurance complaints.
www.dcbs.oregon.gov
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