Extraordinary Conversation: Addressing the long-term care challenge

October 31, 2023

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The Advisor Advocate editorial team is comprised of a diverse group of thought leaders and contributors across Nationwide Financial, as well as many others who provide support behind the scenes. We work together to deliver inspired, informed content and expertise on topics that matter most to financial professionals and their clients.

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Key Takeaways:

Many Americans mistakenly believe they have long-term care (LTC) insurance when they don’t
AI and robotics could change the way we address LTC in the future
There is opportunity for financial professionals to engage clients on LTC planning

In a recent survey conducted by Nationwide and LIMRA, many Americans indicated they have long-term care coverage when they don’t. Some mistakenly view long-term disability insurance as something that will cover long-term care needs, and others erroneously assume their health insurance or Medicare will fill this gap. This and other misperceptions revealed in the survey highlight a great opportunity for financial professionals to have a conversation about planning for long-term care with their clients.

Dave Levenson, president and CEO for LIMRA, LOMA and LL Global joined Holly Snyder, president of Nationwide Life to dig into some of the survey findings and discuss implications for financial professionals.

In this Extraordinary Conversation, Dave and Holly touch on the following topics:

Why many Americans mistakenly believe they have long-term care insurance when they do not, and how financial professionals can help them identify and address this gap
The opportunity for financial professionals to engage clients in a constructive conversation about long-term care planning
How new technology, including AI and robotics, might change the way we address long-term care in the future.