Americans fall short on longevity planning, new Hancock–MIT study warns

Americans are living longer, but a new study shows they are unprepared for those extra years.
A first-of-its-kind Longevity Preparedness Index (LPI) — developed jointly by John Hancock and the MIT AgeLab — reveals that U.S. adults score an average of 60 out of 100 in overall readiness for later life.

The measure looks beyond finances to include eight interconnected domains of well-being: social connection, finance, daily activities, care, home, community, health, and life transitions.
The survey results show progress in social and community engagement, yet highlight continued shortfalls in planning for long-term care, housing, and health.

Building on an earlier collaboration between John Hancock and MIT AgeLab announced last year, these longevity preparedness findings look to redefine what it means to prepare for longevity. As John Hancock CEO Brooks Tingle explained, “It’s no longer just about how much you’ve saved for retirement or even about how healthy you are; it’s also about where you’ll live, how you’ll get where you need to go, how you’ll fill your days, and who you will share your time with.”

‘A new way of thinking’

Tingle said the new index introduces “a new way of thinking about longevity” that integrates social, financial, and emotional dimensions into a single framework. The company plans to use the insights to help clients maximize what can be a longer, healthier, better life.

Key findings include women outperforming men in care (43 vs. 41), social connection (71 vs. 68), daily activities (61 vs. 59), and life transitions (62 vs. 60). Men score higher financially (65 vs. 63). This shows women’s strengths in social and emotional domains, while men have better financial readiness.

Care preparedness was the lowest-scoring area, averaging 42. Many respondents have not discussed care plans with family or found future caregivers. Even caregivers often lack plans for their own needs.

Care is longevity preparedness ‘blind spot’

“The biggest longevity blind spot is care,” said Dr. Joseph Coughlin, founder and director of MIT AgeLab. “Few adults know who will care for them or how they will afford that care. Taking small but intentional steps — like planning for a new hobby, starting a fitness routine, or simply conversing about care — can make a big difference.”

Lindsay Hanson, Hancock’s Global Head of Behavioral Insurance, said the findings confirm that people have difficulty talking about later life care.

“That really stood out to me,” Hanson said. “The idea of care being a really difficult conversation or not something that someone is prepared to have.”

She said one of Hancock’s goals with its longevity research is to encourage and inspire those conversations about longevity preparedness.

“We want to use it to be able to essentially change the conversation, or really, in some situations, start a different conversation,” Hanson said. “So many times it’s about what you’re thinking about for retirement and financial savings, or when you’re thinking about life insurance and financial protection and it’s not talking about your health, it’s not talking about the daily activities it’s not talking about the care that you’re going to have and need.

Changing the conversation

“So we really feel as though this is a vehicle for us to help change the conversation that advisors are having, whether it’s in the retirement space and the life insurance space, or financial services in general, it’s a game changer.”

The longevity preparedness index shows strengths in some areas, but Americans fall short across all domains. Community and social connection scores were strongest (70 and 69), reflecting solid engagement with neighborhoods, transportation, and relationships.

Yet respondents fared worse in home (56), health (56), and care (42) areas, which are critical to independence and quality of life.

The LPI’s methodology underscores its breadth: While the finance score (64) captures planning and access to advice, other domains assess softer but equally vital aspects, such as daily routines, adaptability, and home accessibility modifications.

Unsurprisingly, retirees and those who work with a financial advisor scored higher than their counterparts. Retirees averaged 65 versus 58 for non-retirees, and those with an advisor scored 65 compared to 58 without. Additionally, caregivers, parents, and life insurance policyholders tended to fare better across multiple categories.

For John Hancock, the research is more than an insight. It is a roadmap for action that directly informs the company’s Vitality Program, which rewards healthy behaviors.

• Grail’s Galleri® multi-cancer early detection test, available to eligible life insurance and retirement customers.
• Garmin smartwatches and smart scales for tracking health metrics and fitness progress.
• Prenuvo full-body MRI scans are now offered in new formats to detect potential illnesses early.
• Tufts University’s Health & Nutrition Letter, offering evidence-based dietary insights.

‘We can turn insight into impact’

“Through John Hancock Vitality, we’ve seen firsthand that supporting customers in small, incremental steps can drive better outcomes,” said Tingle. “The LPI shows the tremendous potential that still exists to help all generations better prepare. Together — we can turn insight into impact across public and private sectors.”

According to the U.S. Census Bureau, the index arrives as the U.S. population over 65 is projected to climb from 58 million to 82 million by 2050.

Nearly one-fifth of an individual’s life will be lived in illness, and about 40% of people will face financial instability as they age.

In that context, the LPI is as much a wake-up call as it is a planning guide. Individuals and organizations must use these findings to start conversations, build concrete plans, and take intentional steps now to ensure readiness for the future. As Coughlin said, “Between health and wealth are the routines and assumptions that make up daily life. The LPI seeks to spark public awareness and action to prepare people for living what is likely to be a full one-third of their adult lives.”

Longevity is a research frontier

For John Hancock, longevity has become both a research frontier and a business opportunity. Its 2024 partnership with MIT AgeLab began a five-year collaboration to explore the intersection of aging, behavior, and financial planning.

That effort built on the company’s earlier work — including a 2023 collaboration with MIT on the Longevity Literacy Score. This research found that most Americans could answer fewer than half of fundamental questions about retirement readiness.

The new longevity preparedness index takes that idea further, shifting the focus from knowledge to action and providing a holistic benchmark for a society still catching up with its longevity
.
As Tingle said, “We believe the future of financial services is not just about managing money, but about helping people live better, longer.”

And, unapologetically, Hancock notes that living longer means having customers for longer periods of time.

“Outside of friends and family, your life insurer is who wants you to live a longer, healthier life,” Hanson said. “We’re not shy about that. We have the opportunity to have lifelong relationships with customers, and we want to help them invest in their health so that when they get to those later years, they’re better later years.”

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