Ask most people how ready they are for retirement, and they’ll talk about an account balance. A new national survey suggests that’s only part of the picture, and that Americans aren’t getting any more prepared for long lives.
John Hancock and the MIT AgeLab released their 2026 Longevity Preparedness Index on October 27, 2026. U.S. adults scored an average of 60 out of 100, unchanged from 2025.
What the index measures
The index scores people from 0 to 100 across eight areas: care, community, daily activities, finance, health, home, life transitions, and social connection. The overall score is the average of the eight. The survey reached 1,340 U.S. adults through NORC’s AmeriSpeak panel from May 8 to May 26, 2026, and weighted the results to represent the U.S. population. John Hancock funded the research and says it didn’t influence the findings.
Here’s how the 2026 scores came out, according to the full findings report:
- Community: 71
- Social connection: 69
- Finance: 63
- Life transitions: 63
- Daily activities: 59
- Health: 56
- Home: 56
- Care: 43
Finance isn’t the weak spot. Care is.
The care gap
Only 18.3% of respondents had planned with their families how they want to be cared for as they age, the report says. Care ranked as a top priority today for just 12.9% of people, rising to 25.1% when they thought about what will matter in older age. The report also cites a U.S. Department of Health and Human Services estimate that 70% of people over 65 will need care at some point.
People with long-term care insurance scored 58 in the care area, compared with 42 for those without it. That’s a correlation, not proof the policy did it. People who buy long-term care coverage may simply be planners by nature. Still, the gap is big enough to notice.
Advice made a difference
Respondents who work with a financial professional scored 67 overall, versus 58 for those who never have, and they scored higher in every one of the eight areas. In finance specifically, the gap was 76 versus 59.
Keep in mind who’s reporting this. John Hancock sells insurance and investment products through financial professionals, so it has a stake in that finding. The numbers are what they are, though, and they match what we see: people who sit down and make a plan tend to follow through.
How long you’re planning for
Social Security puts life expectancy at age 84.2 for a man reaching 65 on April 1, 2026, and 86.8 for a woman, according to the SSA’s retirement planner. Those are averages. Plenty of people live well past them, and a plan that runs out at 85 leaves no room for a long life.
One of the most powerful longevity tools most families already have is Social Security itself. For anyone born in 1943 or later, benefits grow 8% for each year you delay past full retirement age, up to age 70, per the SSA. That increase lasts for life.
Where term life and annuities fit
Here’s how we think about the insurance pieces.
Term life insurance protects your family during your working years. If you die while your kids are young and the mortgage is big, it replaces your income. It isn’t a longevity tool, and that’s the point. Buy term for the years your family depends on you, invest the difference in your 401(k), IRA, and other accounts, and let those savings carry you once the kids are grown and the debts are gone. As your wealth grows, your need for life insurance shrinks.
Annuities are a different job entirely. A simple income annuity turns a lump sum into a lifetime paycheck, protecting you against outliving your money. If you’re considering one, start with the basics: how much of your savings it would tie up, what fees and surrender charges apply, and whether you’d be better off delaying Social Security first, since that’s inflation-adjusted income you’ve already paid for. Be cautious with complicated products that bundle extras.
We don’t recommend using cash value life insurance as a retirement plan. It mixes protection and savings, costs far more than term for the same death benefit, and has hard-to-see fees. If someone pitches it as a way to fund a long retirement, ask what the same coverage costs as term and what the difference would grow to if you invested it.
The Bottom Line
Americans scored 60 out of 100 on longevity preparedness for the second year running, and care is the area where most of us are least ready. Plan for a long life on several fronts: talk with your family about care, look at your home, think hard about when to claim Social Security, and keep term coverage and investing working together while you’re still earning. The money matters. So does the rest of the plan.
Sources and Further Reading
- John Hancock, "John Hancock and MIT AgeLab: Americans Recognize Importance of Preparing for Longer Lives but Actual Readiness Lags" (PR Newswire, Oct. 27, 2026)
- John Hancock and MIT AgeLab, "Longevity Preparedness Index 2026: Facts and Findings"
- PLANADVISER, "Americans Score Low on Care, Home, Health Portions of Longevity Preparedness Index"
- Social Security Administration, "What Important Things To Consider When Planning for Retirement"
- Social Security Administration, "Delayed Retirement Credits"