The Long-Term Care (LTC) Conversation

You understand how and why financial planning can be derailed by expenses for Healthcare In Retirement or LTC.  Unfortunately, you and your clients may be far apart on how to address this topic, even if they know the importance of planning for it.  Perhaps LTC Awareness Month is a good reason to start that conversation based on these findings by Lincoln Financial Group research:

When to have the conversation?

You want to make sure to have these conversations when clients are generally in good health and especially before they need care. On average, advisors agree that it’s a good idea to begin LTC discussions at age 50.  Therefore, we encourage advisors to make LTC a component of every financial plan. By addressing this early, you can help clients ensure they are cared for according to their wishes.*

Who to include in the conversation?

Discussing LTC as a family is recommended, as it gets everyone to get on the same page before care is likely to be needed. And it’s an excellent way for you to build a relationship with the next generation. 

Consider using these conversation starters to help with the critical preparation needed for the years ahead.