November 6, 2025

November is Long‑Term Care Awareness Month—discover how smart planning and long‑term care insurance protect your assets, business, and multigenerational legacy.  

November brings more than the approaching holiday season—it marks Long‑Term Care Awareness Month, a moment to download, reflect and act on one of the most overlooked pillars of a comprehensive financial and legacy strategy. For business owners, multigenerational families and high‑net‑worth individuals, the need is not hypothetical: the costs, consequences and choices surrounding long‑term care (LTC) can affect not just one individual but your family, your business and your legacy. In this blog, I’ll walk you through the key issues, practical planning considerations and why insurance may be a prudent piece of the puzzle.

1. The Reality: How Likely & How Costly

It’s easy to defer thinking about long‑term care until “sometime later,” but the numbers underscore the urgency. About 70% of men and women who reach age 65 will need some type of long‑term care services in the future.
Meanwhile, the costs of care are substantial and rising: a private‑room nursing home, home health support, assisted living—these all add up rapidly and can erode savings or divert funds from the business or family legacy.
For business owners and families with multigenerational goals, this isn’t simply about one person’s care—it’s about preserving the capital, the enterprise, and the relational legacy for the next generation.

2. The Planning Gap: Why So Many Are Unprepared

Despite the likelihood and cost, very few people plan proactively. Only 3–4% of adults age 50 and older carry a long‑term care insurance policy.
Part of the challenge is that long‑term care falls into a gray zone: it’s “not quite health insurance,” “not quite retirement,” and therefore often misses planning checklists. But as advisors and fiduciaries, we see that waiting until a health event or until after a liquidity event is rarely optimal.
For business owners especially, liquidity events, sale of enterprise, generational transfer—all these provide potential capital inflection points. This is precisely the time to integrate LTC planning into the broader financial and estate strategy.

3. Role of Long‑Term Care Insurance in a Robust Strategy

One of the most effective tools to help manage the risk of long‑term care is long‑term care insurance (LTCI). Here are key reasons it merits consideration:

• Protecting assets and legacy — LTCI helps ensure that retirement savings, business proceeds or family capital are not wholly consumed by care costs.
• Maintaining choice and independence — With coverage in place, you may have greater freedom to choose where and how care is delivered (at home, assisted living, skilled nursing) rather than being overly constrained.
• Reducing burdens on the business/family — When care needs arise unexpectedly, the resulting demands on family members or business operators can disrupt operations, create stress and dilute value. LTCI helps mitigate that.
• Time‑sensitive effectiveness — Premiums tend to be lower when you obtain coverage earlier (health permitting), and waiting can reduce options or increase cost.

Of course, LTCI is not the only component—it must be viewed alongside retirement savings, business succession planning, life insurance, estate planning, liquidity strategies and care‑preference discussions. But for many high‑net‑worth individuals and family‑wealth groups, it represents an under‑utilized lever.

4. Practical Planning Steps for Business Owners & Legacy Families

Here’s a practical roadmap you can follow this November (Long‑Term Care Awareness Month) to start bolstering your strategy:

• Step 1: Assess your potential exposure. Consider your age, health status, family medical history, business role, asset base, and the kind of care you might prefer (at home vs facility).
• Step 2: Map your financial resources. Identify retirement capital, business value, liquid assets, and what portion you are willing to allocate toward long‑term care. Ask: if I need 3‑5 years of care, how will that affect my balance sheet?
• Step 3: Review insurance options. Meet with a qualified advisor who understands LTCI (including traditional standalone, hybrid life/LTC policies, or linked benefit models). Compare features: elimination period, daily/monthly benefit, inflation protection, premium guarantees.
• Step 4: Integrate with business and legacy planning. For business owners, integrate LTC exposure into your succession and exit planning. For multigenerational families, align LTC planning with estate, trust, gifting and philanthropy goals.
• Step 5: Communicate & document. Engage the next generation and relevant stakeholders. Document your care preferences, location of care, and funding approach. Ensure your advisors (legal, financial, tax) are aligned.
• Step 6: Review annually. Health, market values, business status and tax law change—so revisit your LTC strategy regularly to ensure it remains aligned.

5. Why November is the Moment to Act

Because this is Long‑Term Care Awareness Month, the timing is not arbitrary—it helps bring attention when many advisors and families are already reflecting on year‑end planning and legacy matters.
By acting now—before a health event, before retirement begins, before an unexpected liquidity event—you position yourself and your family with more control, fewer surprises and greater alignment across your business, assets and legacy.

If you’re a business owner, high‑net‑worth individual or part of a multigenerational legacy family and you haven’t yet incorporated long‑term care planning into your broader strategy, now is the time. At Omni 360 Advisors, we specialize in aligning insurance, retirement, business succession and wealth preservation for clients like you. And at Omni Legacy Law, we help structure your legacy, estate and care‑preference planning so that you maintain choice and control.

Let’s schedule a strategy meeting to review your long‑term care exposure, 

insurance options and legacy integration—or book a legacy or estate‑plan review. Your future self—and your family—will thank you.

This blog was developed with the assistance of AI-based tools for research, drafting and editing support (Chat GPT), and reviewed by OMNI 360 personnel for accuracy and relevance.