Longevity brings with it the challenge of providing for long-term health care, added Bill Nash, vice president of external wholesale management at Lincoln Financial Group. “Half of the people who reach 65 will need some form of long-term health care, [but] only 14% of advisors have had a conversation about long-term care with their clients. Advisors need to start talking about this more.”
Brandon Buckingham, vice president and national director of advanced planning at Prudential Annuities, noted that no one product or strategy is going to be successful. “A retiree will need various strategies,” he said.