Our daily roundup of retirement news your clients may be thinking about.

Seniors dump long-term care insurance just when they need it most

A study by Boston College's Center for Retirement Research found that a 65-year-old male client with a long-term care insurance policy has a 32% chance of letting the coverage lapse before he dies, with his female counterpart having a 38% chance of doing the same. The study also found that respondents in 23% cases allowed their policy lapse within four years before they would need long-term care. Policy lapse could be attributed chiefly to financial problems or age-related cognitive deterioration. –Time Money

How do your clients want to spend their money in retirement?

Retirees may consider relocating overseas if they want to avoid using up their retirement savings on hefty health-related expenses, according to this article on The Motley Fool. Several cities in countries like Thailand and Mexico offer a very low cost of living and affordable health care services. "We see this as the best alternative to depleting our assets and living out our final years in a nursing home in the States. We would prefer to gift our money to organizations and projects of our choice -- not spend all of our hard-earned cash out of need." –The Motley Fool

How to retire abroad and make money, too

Working part-time abroad is an option worth considering for retirees, according to this article on Forbes. Such an option will enable them to earn an income, curb withdrawals from their retirement accounts and continue using their work-related skills that they have honed over the years. While some foreign governments don't support Americans taking local jobs, seniors will still find opportunities that will allow them to work part-time in these countries, such as teaching in a local university. –Forbes

Nearly half of Americans have no savings: Survey

Two surveys on Americans' saving show disparate results, with a survey by GOBankingRates indicating that savings accounts of 28% of respondents have zero balances, according to this article on CNBC. The GOBankingRates poll also found that 21% of Americans even have no savings account at all, contrary to the results from a survey by America Saves, which found an increase in people's interest, effort and effectiveness to save personally last month. "While no trends over the past two years are yet evident, it is encouraging that the latest Personal Savings Index numbers are so high," Stephen Brobeck of the Consumer Federation of America said in a statement. –CNBC

Why the hesitancy for income insurance?

Although annuities are designed as income insurance in retirement, many investors are hesitant to buy the products because of the stock market opportunities they will miss when annuitizing their savings, according to this article on MarketWatch. However, buying an annuity is "a disciplined approach and long-term strategy" to have the needed income floor in retirement. While the sales pitch for annuities turn many investors off, client should separate the product, which offers a guaranteed income stream for life. –MarketWatch

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