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April 13, 2010 at 08:00 PM
Only 9% of Americans surveyed by Genworth Financial Inc. say their advisors have talked to them about retirement and long term care planning.
Many Americans also are still not engaging in open conversations with their families about the kind of LTC insurance they would prefer or be able to afford if they needed it in the future, according to Genworth, Richmond, Va. (NYSE:GNW).
Genworth is basing those conclusions on results from an online survey of 2,900 U.S. consumers that was conducted in January.
About 65% of the survey participants said the fear of upsetting family members is the biggest barrier to talking about LTC plans.
Genworth says advisors should recommend that clients start LTC conversations with family members by raising the following 3 topics:
