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Nancy Simm, CLTC, LTCP, CSA
Director, LTC & Longevity Planning
Highland Capital Brokerage
Benjamin Franklin once remarked the only certainties in life were death and taxes. But America’s most beloved patriot could never have foreseen a third possibility — caring for a rapidly aging population — because average life expectancy in 1776 was only 35 years of age.
Average life expectancy now hovers around age 79 in the U.S. and age 84 in Japan, and it’s rising fast worldwide. By 2030, one-fifth of the U.S. population will be 65-plus. In South Korea, life expectancy is expected to reach 90 years of age.
What does all this mean for clients and their advisors? Nancy Simm, our Director of Long-Term Care and Longevity Planning, has spent most of her adult life working in this field and thinking through the ramifications. The upshot? When it comes to long-term-care coverage, everyone should have a plan for it.