Addressing long term care (LTC) proactively is a crucial step toward securing your health and your family’s future financial stability and well-being. Planning ahead for the possibility of LTC preserves your:

Financial security. LTC costs can be exorbitant, often posing a significant financial burden on families. Planning ahead gives you time to explore care services in your area and options for financing care. Early planning also gives you more time to build a financial safety net specifically tailored to cover potential LTC expenses.

Independence and quality of life. Planning in advance empowers you to make informed decisions about your future care preferences. It allows you to choose the most suitable setting—whether it’s receiving care at home, in an assisted living facility, or a nursing home—so you can maintain a level of independence and quality of life that aligns with your preferences. A majority of people would prefer to stay in their own home for as long as they can, but “aging in place” requires careful planning.

Loved ones’ well-being. Unforeseen circumstances often force family members into the role of caregivers. Planning ahead for LTC can help prevent the financial, physical, and mental strain that caregiving can place on family members, allowing them to focus on providing companionship rather than managing complex care needs.

Insurability and affordability. Unfortunately, many people delay purchasing a policy until it’s too late and either can’t qualify or find themselves priced out. LTC insurance premiums are driven by your age and health, so ideally you’ll want to secure coverage while you’re young and before you develop any health issues that could render you uninsurable.

It’s tempting to delay LTC planning, however, it’s incredibly important that you plan for care before you actually need it. Failing to plan ahead can have major financial and health-related consequences, and you run the risk of not being able to cover the costs of your future needs.

LTC insurance is one way you can ensure that you’re prepared financially — and it reduces the chances that you’ll need to rely on loved ones for care or financial assistance. We understand that LTC insurance may not be appropriate for everyone, but LTC planning should be. Our Advisors can help you get started.

¹How Much Care Will You Need? Administration for Community Living. acl.gov/ltc/basic-needs/how-much-care-will-you-need, Retrieved April 7, 2026.
²How Much Will Your Long-Term Care Needs Cost? It Depends on How Average You Are. Center for Retirement Research at Boston College. crr.bc.edu/how-much-will-your-long-term-care-needs-cost-it-depends-on-how-average-you-are, March 5, 2026.
³You Need To Save $135,000 For Long-Term Care. But Many Will Pay More. Forbes. www.forbes.com/sites/howardgleckman/2026/02/17/you-need-to-save-135000-for-long-term-care-but-many-will-pay-more, February 17, 2026.