Lincoln Financial, Waterlily Partner on Long-Term Care Plans
Lincoln Financial is partnering with Waterlily, an artificial intelligence (AI)-technology platform, to help clients calculate long-term care essentials as the need for support grows.
The firm will integrate its hybrid life and long-term care solutions to the Waterlily platform, which uses AI technology to predict long-term care needs as early as several decades out for clients. Waterlily’s platform evaluates policy configurations to help identify options for different goals and scenarios.
The partnership aims to expand awareness and availability of long-term care to a wider audience.
“Waterlily’s technology brings personalization and speed to the process, elevating our distribution strategy to help families navigate an important part of their financial future,” said Jared Nepa, head of Insurance Solutions Distribution at Lincoln Financial Distributors, Inc.
Waterlily’s platform analyzes an applicant’s medical information against “carrier-specific underwriting guidelines,” reads policy application forms, and automatically skips or pre-fills over 70% of fields based on information already known about the applicant. The model predicts long-term care costs, estimates the chance an applicant will need long-term care, and how many years they’ll need to receive services for.
Applicants can build long-term care plans for themselves, families, and partners.
The partnership comes as more participants, and even retirees, seek support in understanding longevity risk and growing retirement income. A 2025 Retirement Survey from Retirement Living found that over half of seniors worry their savings won’t last throughout retirement, with many growing concerned over healthcare needs, daily inflation, longevity, and Social Security insolvency.
“Advisors and clients alike need tools that move beyond generic assumptions. As longevity risk becomes more central to retirement planning, the most valuable solutions will be the ones that help translate longer life expectancy into real decisions around income, care, and family legacy,” said Lily Vittayarukskul, founder & CEO of Waterlily, to 401(k) Specialist.
Other research findings show a lack of financial confidence among adults. Four-in-ten U.S. adults in a Pew Research Center report said they were not confident in their ability to have enough income and assets to last throughout retirement, while some believed they wouldn’t be able to retire at all.
Lincoln Financial is the latest financial services firm to partner with Waterlily on its services. In 2025, Waterlily announced it had received strategic investments from Nationwide and Edward Jones.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.