Part of our guide: Long-Term Care Insurance: Costs, Options and Planning →
Most financial plans assume a long, healthy retirement. The longer clients live, the more likely they’ll need care, and a few years of it can undo decades of saving.
Key takeaways
- Longer life expectancy means a greater likelihood of needing long-term care.
- Just a few years of care can threaten a lifetime of savings.
- Planning lets family members care about their loved one, rather than having to care for them.
Long-term care planning lets families care about each other, instead of having to care for each other.
The financial risk
It can take decades to build a retirement nest egg and only a few years of care to drain it. At 2025 national medians, a private nursing home room costs about $129,600 a year. See current cost of care.
The family risk
Anyone who has been a caregiver knows the physical and emotional toll. Caring for a loved one is an act of love, but placing that burden on a spouse or children is something most clients want to avoid.
What a plan accomplishes
- Protects retirement assets
- Reduces the caregiving burden on family
- Lets clients receive care where they prefer, including at home
- Lets loved ones spend time together as family, not as caregiver and patient
To start, see eight ways to ease into the talk.
Frequently asked questions
Why is long-term care planning important?
Care costs can drain retirement savings, and without a plan, family members often become unpaid caregivers.
Does living longer increase the chance of needing long-term care?
Yes. The longer people live, the more likely they are to need help with daily activities.
What does long-term care insurance protect?
Retirement assets, family relationships, and the ability to choose where and how care is received.
Reviewed by Tim Fuller on 2026-09-25
Tim Fuller
President, SRS Inc.
Tim leads SRS Inc., a full-service IMO (Independent Marketing Organization) and BGA (Brokerage General Agency), connecting independent financial professionals with life, annuity, disability income, and long-term care solutions from 60+ carrier partners.
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