Long-term care is one of those financial planning topics that almost everyone knows is important—but that doesn't necessarily mean clients are prepared for it.

In fact, that disconnect was one of the most interesting themes to emerge from the Financial Experts Network webinar “Long-Term Care Planning in 2026: What Clients Expect—and How Advisors Can Respond.”

Sean Britt of the Nationwide Retirement Institute shared findings from Nationwide's 2026 Long-Term Care Survey, conducted with The Harris Poll. The results offered a revealing look at how Americans think about long-term care, caregiving, insurance, and the role they expect financial professionals to play.

The good news? Clients appear increasingly interested in preparing for future care.

The challenge? What clients think they know about long-term care may be very different from what they actually have in place.

For financial advisors, that creates an opportunity to start better conversations before a health event turns planning into crisis management.

Clients Feel Knowledgeable—But There Are Some Big Gaps

More than 80% of adults over age 30 surveyed said they felt knowledgeable about long-term care. People who had already served as caregivers or made care decisions for someone else tended to report even greater familiarity.

That sounds encouraging.

But other survey responses suggest advisors shouldn't automatically equate confidence with preparedness.

One of the clearest examples involved long-term care insurance. More than a quarter of respondents in one portion of the survey indicated that they had purchased long-term care insurance—far higher than actual industry ownership levels discussed during the webinar.

So what's happening?

Some consumers may be confusing long-term care insurance with other types of protection, such as disability insurance, chronic illness riders, life insurance benefits, or other products that provide limited benefits under certain circumstances.

That leads to a surprisingly simple advisor strategy:

Ask clients to bring in the policy.

Rather than asking, “Do you have long-term care insurance?” and checking a box when the answer is yes, review what they actually own.

What triggers benefits? Does it cover care at home? Is it reimbursement or cash indemnity? Is there inflation protection? Can premiums increase? Is it a traditional policy or a benefit attached to another product?

A policy review can turn a vague assumption into an actual plan.

Where Do Clients Want to Receive Care? Usually at Home.

When people imagine needing help later in life, most don't picture themselves moving into an institution.

They picture staying home.

Approximately 73% of respondents in the survey preferred some form of home-based care. That may mean receiving assistance in their own home or, in some circumstances, living with and receiving care from a family member.

That's an important distinction for financial planning.

A client's long-term care strategy shouldn't simply answer, “How will we pay for a nursing home?”

It should start with a broader question:

“If you eventually need help, where would you want to receive it?”

If the answer is home, the planning conversation can expand to home health aides, personal care, home modifications, transportation, care coordination, and the potential involvement of family members.

Insurance design matters here, too. Some policies reimburse qualifying expenses, while certain cash-indemnity designs provide greater flexibility once benefit requirements are met.

The right choice depends on the client, but the client's preferred care setting should be part of the discussion from the beginning.

The Caregiver May Be the Missing Piece of the Plan

One of the most practical points Britt made during the webinar had nothing to do with insurance products.

Many people have identified—or expect to identify—someone who will care for them.

But there's another question advisors should ask:

Does that person know?

A client may confidently say, “My daughter will take care of me.”

Meanwhile, that daughter may live three states away, have two children at home, work full time, and have no idea that she's been assigned the role of future caregiver.

That's not a care plan. It's an assumption.

And caregiving can be a substantial commitment. Caregivers participating in the survey reported spending an average of approximately 22 hours per week providing care. That's effectively a part-time job layered on top of everything else in their lives.

The impact can go far beyond direct expenses. Caregiving may affect a family member's career, retirement savings, health, marriage, parenting responsibilities, and emotional well-being.

For advisors, that means long-term care planning should address two different questions:

Who will pay for care?

And:

Who will actually provide or coordinate it?

Both answers matter.

Past Caregivers May Be Your Best Opening for the Conversation

More than half of the survey respondents had served as caregivers at some point.

That's a powerful conversation starter.

Instead of opening with insurance illustrations or statistics, an advisor might simply ask:

“Have you ever helped care for a parent or another family member?”

If the answer is yes, follow up:

“What was that experience like?”

Someone who has watched a parent struggle with dementia, coordinated home care from another city, or helped a family member move into assisted living already understands long-term care in a deeply personal way.

The next question becomes natural:

“Would you want your children to go through the same experience?”

That shifts the conversation away from selling a product and toward helping the client articulate what they want for themselves and their family.

Solo Agers Need a Different Kind of Plan

Long-term care planning becomes even more important for people who are aging without a spouse or partner.

The webinar highlighted the growing importance of solo aging, whether because someone never married, divorced, became widowed, or simply doesn't have nearby family members who can step into a caregiving role.

For these clients, having enough money may not solve the entire problem.

Who will notice when something changes?

Who will coordinate care?

Who will speak with doctors?

Who will manage bills?

Who will advocate for the client's wishes?

A comprehensive plan may need to identify healthcare agents, powers of attorney, professional care managers, trustees, fiduciaries, trusted friends, or other advocates.

For solo agers, the question isn't simply “Can I afford care?”

It's also “Who will make sure the plan actually happens?”

Medicare Isn't the Long-Term Care Plan Many Clients Think It Is

Another persistent challenge is misunderstanding Medicare.

Clients may assume that because Medicare covers healthcare during retirement, it will also pay for extended long-term custodial care.

Generally, it doesn't.

Medicare can cover certain skilled nursing, rehabilitation, and home health services when specific requirements are met. But ongoing custodial care—help with everyday activities over an extended period—is a different issue.

Medicaid can provide long-term services and supports for people who meet applicable eligibility requirements, but Medicaid and Medicare should not be treated as interchangeable programs.

This makes one question particularly useful during retirement planning:

“What do you believe Medicare will pay for if you need long-term care?”

The answer may reveal that a client's retirement plan is built around an assumption that isn't accurate.

Clients Are Interested in Guarantees and Flexibility

The survey also provided insight into what consumers want from long-term care solutions.

Respondents expressed interest in features such as premium protection, guarantees, asset protection, and benefits that can support care at home.

Those preferences help explain the industry's movement toward hybrid and linked-benefit solutions, which may combine life insurance or annuity features with long-term care benefits.

For some clients, the appeal is straightforward: they don't like the idea of paying premiums for decades and potentially receiving nothing if long-term care is never needed.

Depending on the product, a linked-benefit solution may provide long-term care protection while preserving some value for beneficiaries if care isn't required.

But that doesn't make hybrid coverage automatically better than traditional long-term care insurance.

The advisor's job is to start with the client's priorities.

Does the client care most about maximizing long-term care benefits? Premium certainty? Leaving money to heirs? Inflation protection? Liquidity? Home-care flexibility?

The product should follow the planning objective—not the other way around.

Waiting Until 70 May Mean Waiting Too Long

The survey uncovered another important misconception: many consumers believe long-term care insurance is something to consider relatively late in life.

More than one-quarter thought age 60 or older was the appropriate time to purchase coverage, while another sizable group thought 70 or older was appropriate.

The problem is that long-term care insurance isn't something clients can necessarily decide to purchase whenever they want.

Health matters.

Once significant health issues arise, coverage may become more expensive, limited, or unavailable.

Britt identified roughly ages 50 to 65 as an especially productive period for the conversation. Clients may still be healthy enough to have choices, while also being in their peak earning years and beginning to think seriously about retirement.

That doesn't mean every 50-year-old needs a long-term care policy. It means advisors should start the planning conversation before options disappear.

Clients May Be Waiting for Their Advisor to Bring It Up

Perhaps the most important finding for financial professionals was how few clients had actually discussed long-term care costs with an advisor.

Only about 18% of survey respondents said they had done so.

At the same time, nearly three-quarters indicated they would be likely to consider switching financial professionals if another professional could show them how to navigate future long-term care costs. Millennials were particularly receptive to that idea.

That's a meaningful message.

Clients may not bring up long-term care themselves because they don't know what to ask. They may think they're too young. They may assume Medicare will cover it. Or they may simply prefer not to think about needing care.

That doesn't mean they don't want guidance.

For advisors, long-term care planning can become part of a broader retirement conversation:

Where do you want to live? Who would you want involved in your care? How would you pay for it? What would you want your children to know? And what can we put in place now so your family isn't making all of these decisions during a crisis?

Those aren't simply insurance questions.

They're financial planning questions.

Five Long-Term Care Questions Advisors and Clients Should Be Asking

1. When should clients start planning for long-term care?

There isn't one correct age for everyone, but the webinar identified approximately ages 50 to 65 as a particularly useful planning window. Clients are often still healthy enough to have multiple insurance options and may be entering their peak earning years. The key is to begin planning before a health event limits the available choices.

2. Will Medicare pay for long-term care?

Medicare generally does not cover ongoing custodial long-term care. It may cover certain skilled nursing, rehabilitation, and home health services when eligibility requirements are met. Advisors should make sure clients understand the distinction rather than assuming Medicare will fund extended care.

3. If a client says they already have long-term care insurance, should an advisor accept that at face value?

It's better to review the actual policy. The survey revealed substantial confusion about what qualifies as long-term care insurance. Clients may be referring to disability coverage, a chronic illness rider, a life insurance benefit, or another product. Reviewing the contract helps determine what protection actually exists.

4. Is planning for a caregiver really part of financial planning?

Absolutely. Caregivers in the survey reported spending approximately 22 hours per week providing care. The role can affect income, careers, retirement savings, family relationships, and health. Advisors should ask clients whom they expect to provide or coordinate care—and whether that person knows and has agreed to the plan.

5. What's the most important long-term care question an advisor can ask?

A strong place to start is:

“If you needed help taking care of yourself tomorrow, what would you want to happen?”

That question opens the door to care preferences, family expectations, housing, insurance, savings, estate documents, and caregiver responsibilities. From there, the advisor can help turn the client's wishes into a more concrete plan.

The Bottom Line

Long-term care planning isn't simply about estimating nursing-home costs or deciding whether to buy insurance.

It's about helping clients think through what happens if independence begins to change.

The 2026 Nationwide survey suggests consumers are thinking about these issues—but also that many remain confused about their coverage, underestimate the demands placed on caregivers, and haven't had a substantive conversation with their financial professional.

That gap creates an opportunity for advisors.

You don't need to predict whether a client will need care or know exactly what that care will look like decades from now.

You do need to start the conversation early enough that the client still has choices.

Because when it comes to long-term care, the most valuable plan is usually the one a family creates before they need it.