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FINANCIAL EXPERTS NETWORK

Webinar Summary

Long-Term Care Planning in 2026: What Clients Expect—and How Advisors Can Respond

Speaker: Sean Britt, Director of Long-Term Care Initiatives and Advanced Sales Concepts, Nationwide Retirement Institute
Topic Area: Long-Term Care Planning • Insurance • Caregiving • Retirement Planning • Family Financial Planning

Key Takeaways

• Many clients believe they understand long-term care, but the 2026 Nationwide/Harris Poll survey revealed significant gaps between perceived knowledge and actual understanding.
• More survey respondents claimed to own long-term care insurance than industry ownership data would suggest, highlighting the importance of reviewing the actual policy rather than relying on a client's description of coverage.
• Home-based care remains the preferred setting for most respondents, making benefit flexibility and home-care coverage important planning considerations.
• Caregiving often becomes a major time, financial, and emotional commitment. In the survey, caregivers reported providing an average of approximately 22 hours of care per week.
• Clients increasingly expect financial professionals to discuss long-term care proactively. Nearly three-quarters of survey respondents indicated they would consider changing financial professionals if another advisor could better help them navigate future long-term care costs.
• Planning should begin before health changes limit the available options. The webinar identified ages 50 to 65 as a particularly productive planning window, while emphasizing that earlier or later conversations may still be appropriate.

What the 2026 Survey Reveals

Sean Britt presented selected findings from Nationwide Retirement Institute's 2026 Long-Term Care Survey, conducted online by The Harris Poll among 1,208 adults age 30 and older who were primary or shared household financial decision-makers and had household income of at least $75,000. The survey was conducted April 11–29, 2026.

Britt emphasized an important distinction: the findings are based on a survey of self-reported attitudes and experiences, not a clinical or actuarial study. The results are therefore most useful for understanding what consumers believe, expect, and misunderstand about long-term care.

More than 80% of respondents said they felt knowledgeable about long-term care. Those who had served as caregivers or made care decisions for another person generally reported greater knowledge.

However, several answers suggested that confidence did not always equal understanding. For advisors, this creates an important planning lesson: begin by determining what the client actually knows rather than assuming familiarity with the terminology.

Advisor Takeaway

Ask clients to explain, in their own words:

• What they believe long-term care includes
• Who they expect will provide care
• How they intend to pay for it
• What insurance they believe they already own

The answers may reveal significant planning gaps.

Clients May Not Know What Coverage They Own

One of the strongest themes in the webinar was confusion surrounding long-term care insurance.

In different parts of the same survey, respondents gave substantially different answers when asked whether they owned long-term care insurance. Britt contrasted those self-reported percentages with industry data indicating actual ownership is much lower.

She suggested that some participants may be confusing:

• Long-term care insurance
• Long-term disability insurance
• Chronic illness riders
• Nursing-home benefit features on annuities
• Life insurance with long-term care riders

These products can serve very different purposes.

An especially practical recommendation from the session was simple:

Ask the client to bring in the policy.

Reviewing the actual contract allows the advisor and appropriate insurance professional to determine:

• What triggers benefits
• Whether benefits are reimbursement or cash indemnity
• Which care settings qualify
• Whether inflation protection exists
• Whether premiums can change
• Whether coverage is tied to employment
• Whether the benefit is truly long-term care coverage

Advisor Takeaway

Do not record “client has LTC insurance” based solely on a questionnaire response. Verify the type of policy and whether it still fits the client's planning objectives.

Clients Want to Age at Home

Home-based care was the most preferred care setting in the survey. Britt used the broader phrase home-based care because care may occur in the client's own home or in the home of a family member.

Approximately 73% of respondents preferred some form of home-based care.

That preference has several implications.

Advisors should evaluate whether a client's plan provides sufficient flexibility to pay for:

• Home health aides
• Personal care
• Care coordination
• Home modifications
• Family caregiver support
• Alternative care arrangements

Traditional reimbursement policies generally pay eligible expenses after documentation is submitted. Cash-indemnity designs may provide greater flexibility because qualifying benefits are paid without requiring the insured to match every dollar to a specific covered expense.

The appropriate structure depends on the client, policy terms, pricing, and planning objectives.

Hybrid and Linked-Benefit Coverage Reflect Consumer Preferences

The survey also showed that consumers value premium certainty, guarantees, asset protection, and flexible benefits.

Britt noted that these preferences align with the industry's shift toward hybrid or linked-benefit products that combine life insurance or annuity features with long-term care benefits. She reported that a substantial majority of current long-term care-related sales involve linked-benefit policies or riders rather than stand-alone traditional long-term care insurance.

Hybrid products can appeal to clients who dislike the possibility of paying premiums for years and never using long-term care benefits. Depending on the design, unused value may instead support a death benefit or other contract value.

These products are not automatically superior to traditional coverage. Advisors should compare:

• Premium structure
• Benefit pool
• Inflation protection
• Elimination periods
• Cash versus reimbursement benefits
• Death benefits
• Underwriting
• Liquidity
• Surrender charges
• Carrier strength

Advisor Takeaway

Start with the client's objective—care funding, asset protection, legacy, premium certainty, or flexibility—before selecting a product category.

Caregiving Is a Financial Planning Issue

More than half of the survey participants had acted as caregivers.

Those caregivers reported spending an average of approximately 22 hours per week providing care—effectively a significant part-time job. Many were also working, raising children, or managing their own households.

AARP's broader caregiving research underscores the scale of the issue. Its 2026 analysis estimates that family caregivers provide an average of about 27 hours of care per week and collectively provide more than $1 trillion in unpaid care annually.

The consequences extend beyond money. Caregiving can affect:

• Employment
• Retirement savings
• Health
• Marriage and family relationships
• Time with children
• Career advancement
• Emotional well-being

The webinar also noted that many caregivers did not freely choose the role. Family circumstances, proximity, availability, or the absence of another caregiver often determined who stepped in.

Advisor Takeaway

Ask clients whether they have ever served as a caregiver. Their experience can lead naturally into a discussion about what they would want for themselves and how they would want their own children or family members to be affected.

A Caregiver Should Know They Have Been Chosen

More than three-quarters of respondents said they had identified—or planned to identify—a future caregiver.

Britt raised an important follow-up question:

Does that person know?

Clients frequently assume a spouse, daughter, son, or other relative will provide care without ever discussing the expectation.

That assumption may not reflect reality. The intended caregiver may have:

• A career
• Young children
• Health limitations
• Geographic distance
• Financial constraints
• Other caregiving responsibilities

A long-term care plan should therefore include both funding and communication.

The survey also found that financial constraints and lack of clear planning were major sources of difficulty when families had to make care decisions. Written wishes can help reduce confusion and disagreement.

Solo Agers Need Special Attention

The presentation devoted particular attention to people aging without a spouse or partner.

Solo agers may be more concerned about:

• Affording care
• Losing independence
• Making the wrong care decision
• Coordinating services
• Finding an advocate
• Receiving lower-quality care

A married couple may be able to rely on one spouse to coordinate care for the other. A single, widowed, or divorced client may need to intentionally build that support system.

Planning may include identifying:

• Healthcare agents
• Powers of attorney
• Care coordinators
• Trustees or fiduciaries
• Trusted family or friends
• Professional advocates

Advisor Takeaway

For solo clients, long-term care planning should address not only who pays, but also who makes decisions and coordinates care.

Medicare Is Not a Long-Term Care Funding Plan

The webinar highlighted persistent consumer confusion over Medicare and Medicaid.

Some respondents appeared to believe government programs would cover long-term care expenses.

Medicare states clearly that it generally does not cover custodial long-term care, whether provided at home, in assisted living, or in a nursing facility. Medicare may cover qualifying short-term skilled nursing or rehabilitation services under specific conditions, but that is different from ongoing custodial care.

Medicaid can cover long-term services and supports for eligible individuals, but eligibility and program rules differ from Medicare and are generally subject to financial and other requirements.

Advisor Takeaway

Ask clients specifically what they believe Medicare will pay for. Correcting this misconception early can materially change the funding conversation.

Start the Conversation Before the Crisis

Only 18% of survey participants reported having discussed long-term care costs with their financial professional. Britt argued that advisors should not wait for the client to introduce the subject.

The webinar identified ages 50 to 65 as a particularly useful period for evaluating coverage because clients are often still healthy, in strong earning years, and may have greater cash flow as children become financially independent.

That does not mean planning should begin only at age 50 or stop at 65.

The broader lesson is that insurance is generally easier to evaluate before a health event occurs. Once a client needs care, purchasing medically underwritten coverage may no longer be possible.

Britt also discussed “layering” coverage—starting with an affordable amount and considering additional protection later rather than waiting until the client can afford an ideal solution.

Practical Advisor Takeaways

• Make long-term care a standard part of retirement reviews rather than waiting for clients to ask.
• Ask clients who have been caregivers to describe the experience and its financial impact.
• Request copies of existing policies and verify what coverage actually exists.
• Discuss where the client wants to receive care, particularly the preference for home-based care.
• Identify the expected caregiver and confirm whether that person has agreed to the role.
• Pay special attention to solo agers who may need professional advocates or care coordinators.
• Explain clearly that Medicare generally does not fund ongoing custodial long-term care.
• Compare traditional, hybrid, linked-benefit, and rider-based solutions based on client objectives rather than product labels.
• Begin planning while clients are healthy enough to have meaningful choices.
• Put care preferences and family responsibilities in writing to help reduce crisis decision-making and family conflict.

Sources & References

Nationwide — 2026 Long-Term Care Survey Insights
https://www.nationwide.com/lc/resources/investing-and-retirement/articles/ltc-survey-insights

Medicare — Long-Term Care Coverage
https://www.medicare.gov/coverage/long-term-care

Medicare — Nursing Home Coverage
https://www.medicare.gov/coverage/nursing-home-care

AARP — Economic Value of Family Caregiving
https://www.aarp.org/press/releases/2026-03-26-AARP-Economic-Value-Of-Family-Caregiving-Report/

AARP — Family Caregiving for Adults Age 50+
https://www.aarp.org/pri/topics/ltss/family-caregiving/family-caregiving-in-us-2025/

Compliance Note: This summary is provided for educational purposes only and does not constitute individualized insurance, investment, tax, legal, healthcare, or long-term care advice. Long-term care insurance benefits, underwriting, premiums, exclusions, tax treatment, and availability vary by policy and carrier. Advisors should review actual policy documents and coordinate recommendations with qualified insurance, tax, legal, and healthcare professionals.