Why Relying on Family for Long-Term Care Is a Risky Plan

Financial advisors know how uncomfortable some client conversations can be—but few are as emotionally charged or as financially significant as the long-term care (LTC) discussion.

Still, here’s the truth: if your client doesn’t have a plan for long-term care, their family becomes the plan. And that plan often fails everyone involved.

The Hidden Risk Every Advisor Should Be Talking About

We’ve seen it too many times—clients who believe they’ll “figure it out when the time comes” or rely on their children to step in if needed. But that mindset doesn’t just jeopardize their own financial independence. It puts their family’s emotional well-being, career trajectory, and financial stability at risk.

When Family Becomes the Care Plan

Ask your clients:

• “Who do you expect to step in if you need care someday?”

• “Have you talked with your kids about what that would look like?”

These questions open the door to reality:

• Time Management – Most adult children are already overwhelmed balancing careers, parenting, and personal commitments. Adding caregiving duties often leads to burnout.

• Geography – What happens if the kids don’t live nearby? Who becomes the default caregiver?

• Funding – Even unpaid care comes with real costs: time off work, travel expenses, and lost opportunities.

The Emotional Toll No One Sees Coming

Polls show that while most adult children don’t want to be caregivers, they usually step in—sometimes out of love, sometimes out of guilt. And often, it comes at a steep emotional cost:

• Fractured sibling relationships

• Lingering resentment

• Lost time with their own children or communities

• Career stagnation or sacrifices

Positioning the Solution

As an advisor, this is where your value skyrockets. You have access to powerful tools that can help clients:

• Preserve family harmony

• Maintain control and dignity in retirement

• Protect income and assets from the high costs of care

Whether it’s traditional long-term care insurance, asset-based hybrid solutions, or annuities with LTC riders, you have options to fit a wide range of health, age, and budget scenarios.

Conversation Starters That Lead to Business

Not sure how to bring it up? Try these:

• “If something happened to you tomorrow, who would be responsible for helping you day to day?”

• “Have you and your family talked about a care plan?”

• “Would you want your kids to stop working to take care of you? Or would you want a plan that allows them to just be your kids?”

These questions don’t just start conversations—they reveal needs. And those needs create opportunities for you to offer solutions that change lives.

Bottom line: Planning for long-term care isn’t just a financial decision—it’s a family one. And the earlier your clients understand that, the better positioned you are to help them protect everything that matters most.