Are Your Clients’ Loved Ones Protected From the Consequences of Informal Caregiving?

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 Three out of four Americans over the age of 50 report wanting to stay in their own homes as they age.1 That’s why helping your life insurance clients prepare a comprehensive financial plan should include discussions about how John Hancock’s Long-Term Care (LTC) rider — available with our permanent life insurance products — can help protect clients and their families from the consequences of informal caregiving. 

  • Nearly 50 million Americans are providing personal assistance for family members with disabilities or other care needs2
  • Many family caregivers taking care of aging parents report being in worse health compared to five years ago3
  • Estimates indicate up to 70% of caregivers have clinically significant symptoms of depression4
  • The national average for 24-hour home care or one year in a nursing home is more than $105,0005

Talk to your clients about how putting a long-term care plan in place today could help alleviate an enormous emotional, physical and financial toll on them and their families for years to come. 

 

1. Benette, Joanne and Vasold, Kerri, 2018 Home and Community Preferences: A National Survey of Adults Ages 18-Plus, AARP, August 2018, Revised July 2019.
2. State Caregiver Profiles 2017–2020, AARP Research, https://www.aarp.org/research/topics/care/info-2018/state-caregiver-profiles.html.
3. Caregiving in the U.S. 2020. Accessed June 2020. https://www.caregiving.org/caregiving-in-the-us-2020/.
4. Family Caregiver Alliance. National Center on Caregiving. Caregiver Health. Accessed June 2018. https://www.caregiver.org/caregiver-health
5. Based on the 2018 John Hancock Cost of Long-Term Care Survey