Imagine asking your client to describe their process for planning a vacation…..They would probably explain how, on their own or with a travel agent, they start by choosing a destination, setting a budget, researching accommodations, booking activities, and making backup plans for unexpected issues.

Now imagine asking, “Great, do that for Long-Term Care!”

Long-Term Care (LTC) includes Medicare-excluded care and services a client would need if they cannot perform certain Activities of Daily Living or develop a cognitive impairment.  For many clients, planning for that eventually might feel daunting, and using an analogy to something as familiar as vacation planning can make it clear that having a plan – no matter how complex or uncomfortable the discussion might be – can help avoid stress, limit unexpected costs, and ensure they get exactly the care they need when it matters most.

The Q&A Setup: Vacation Planning vs. LTC Planning

Q:  When you plan a vacation, what’s the first step?

A:  I/we decide on a destination—somewhere that fits my/our needs and preferences.

LTC Translation:  In LTC planning, the “destination” represents choosing where and how a client would want to receive care if needed, whether that means aging in place with home care, assisted living, or a skilled nursing facility.  It all depends on the client’s lifestyle preferences and care needs.

Q:  How do you set a budget for a trip?

A:  I/we look at what I can afford and prioritize the key elements like flights, lodging, and activities.

LTC Translation:  For LTC, setting a budget means understanding the costs associated with different types of care, both now and in the future, and LTC Planning allows the consumer to evaluate funding options—whether self-funding, insurance, or a combination—based on expected costs and resources.

Q:  Do you make backup plans if something goes wrong during the trip?

A:  Absolutely!  I/we have contingencies in case of weather delays, unexpected costs, or other disruptions.

LTC Translation:  Formal LTC Planning anticipates the unexpected.  Just as you prepare for travel hiccups, an LTC plan covers “what if” scenarios, like needing a higher level of care than expected or facing costs that exceed initial projections.

Applying the Vacation Planning Mindset to Long-Term Care

Using a familiar process clarifies why thoughtful LTC planning is necessary for clients and advisors alike, and adopting a “vacation planning” mindset can empower clients to make well-informed, proactive choices.

1.  Define the Destination:  Choosing a vacation spot that suits the client’s needs and preferences is similar to selecting an ideal care setting for LTC planning.  Consider what environments would feel most comfortable or accessible, whether at home with support, in an assisted living facility, or a higher-care setting.

2.  Set a Realistic Budget:  Consider the costs involved with various care settings and levels.  Advisors can work with clients to estimate future LTC expenses based on today’s costs and then explore options to help cover these expenses, such as LTC insurance, savings, or family support.

3.  Make a Backup Plan: Vacations often involve unforeseen events, and LTC planning is no different. Advisors should help clients plan for contingencies by setting aside additional funds, including inflation protection insurance, or discussing family care options.

The Importance of “Packing” for the Unexpected

When clients understand LTC planning through the vacation analogy, they see the benefit of being prepared—not just financially but with a roadmap that accounts for preferences, backup plans, and the right resources.  Whether it’s travel or LTC, a plan is the best way to ensure that a destination — whether a vacation or a chosen path for care – is something they can look forward to, not dread.

Perhaps you will begin incorporating this approach with clients to set a friendly, relatable tone that encourages Long-Term Care Planning as a proactive and familiar process. 

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