Advisors face new opportunities to bridge care and wealth gaps, new index reveals

Most American adults are not adequately equipped to thrive during their expected longer lives, despite advances in health and financial awareness.

This is one of the big takeaways from the inaugural Longevity Preparedness Index, a first of its kind study from John Hancock and the MIT AgeLab that reveals an average score of 60 out of 100 across eight key dimensions of aging, highlighting significant gaps in care, health, and housing readiness.

The LPI was created to measure how well adults are positioned to maintain quality of life as they age. It was developed through research conducted with more than 1,300 participants and introduces a holistic benchmark for what it means to be ready for longer, healthier lives.

“Our inaugural Longevity Preparedness Index introduces a new way of thinking about longevity – it’s frankly 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,” explains Brooks Tingle, president and CEO of John Hancock. “And the results of the Index tell us that while some people are preparing for longer lives, there is much more our industry can and should be doing to help customers.”

The research shows that Americans scored lowest in care preparedness (42), reflecting how individuals plan for who will assist them as they age and how that care will be funded. Home and health both averaged 56, showing similar vulnerabilities.

On the other hand, participants scored stronger in community (70) and social connection (69), areas reflecting interpersonal and environmental support.

However, there were notable gender differences with women outperforming men across most domains, including care (43 vs. 41), social connection (71 vs. 68), and daily activities (61 vs. 59). Men fared better in the finance category (65 vs. 63). The data suggests that while women may trail slightly in financial readiness, they demonstrate greater overall adaptability in the lifestyle factors essential to aging well.

 “The LPI is more than a measurement tool; it is a research-based framework that seeks to redefine how we think about preparing for later life,” says Dr. Joe Coughlin, founder and director of the MIT AgeLab, emphasized the broader intent behind the research.  “While health and wealth security are key, between those two vital bookends are the routines and assumptions that make up daily life.”

The Longevity Preparedness Index will be updated annually over the next four years as part of a five-year research collaboration between John Hancock and the MIT AgeLab.