This financial professional-focused conversation guide from the LIMRA Retirement Income Institute provides a structured framework for client discussions about health-related risks and their impact on retirement security. Designed primarily for Gen X and pre-retiree households, it reframes retirement planning through the lens of longevity, chronic illness, caregiving, and long- term care—risks that research shows clients often fear more than market volatility.
The discussion structure is intended to facilitate thoughtful, pressure-free conversations that connect health events to financial outcomes, including reduced earning capacity, increased healthcare costs, and the potential need for extended care. The guide highlights the financial implications of Medicare gaps, the prevalence of long-term care needs, and the growing likelihood that clients will either require care or become caregivers for others.
A central theme is the role of protected lifetime income in helping mitigate these risks. The guide positions annuities and other guaranteed income sources as tools to help cover essential retirement expenses, reduce decision fatigue during periods of stress, and increase client confidence amid uncertainty. It introduces the three-bucket framework—essentials, lifestyle, and health/care contingencies—and offers a practical method for aligning income sources with varying levels of risk exposure.
Overall, this conversation guide equips financial professionals with clear language and a flexible structure to integrate health risk planning into retirement income discussions, supporting more resilient, behaviorally sound retirement strategies.