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Trend Update: The Growing Need for Caregiving

The growing need for family caregiving is a major trend that affects your target clients. Nearly half of caregivers for adults are between the ages of 18 and 49.1 More families are caring for both children and aging parents.2 Men are also more active as family caregivers.3

You can show your clients that you understand their challenges by bringing up caregiving. Ask whether they're currently caring for a family member — or worrying about future needs. Reassure them they're not alone. Then talk about how the Family Care Benefit can provide extra peace of mind.

How Many Caregivers Are There?

Here's a snapshot of findings from a 2015 Caregiving in the U.S. Survey1 conducted by the National Alliance for Caregiving and AARP Public Policy Institute:

  • Approximately 34.2 million Americans provided unpaid care to an adult age 50 or older in the 12 months prior to the survey.
  • 54 percent of caregivers are caring for a parent or a spouse or partner.
  • Three in five caregivers are female (60%) and two in five are male (40%).

What's more, 30 percent of people in a LIMRA survey feel “sandwiched” in caregiving for multiple generations of family members.3

The Growing Cost of Caregiving

Take a look at more statistics that showcase the broad impact of caregiving:


43.5 million U.S. adults
provide unpaid
caregiving.4

 


72% of family
caregivers also work 30
or more hours a week.5

 


30% who took Family
Medical Leave reported
severe financial
difficulties.1

 


2 in 5 people said
caregiving caused
emotional stress.1

Offer Your Clients Support for Caregiving

To address this growing need, The Standard created our unique Family Care Benefit. We include it at no extra charge in our Platinum Advantage income protection insurance — both fully underwritten and guaranteed standard issue.

 

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