Caregiving Survey Fact Sheet
Most U.S. adults ages 65 and older will need long-term care (LTC) at some point in their lives,1 which means it’s likely you’ll either need care — or become a caregiver yourself. How might caring for a loved one impact your daily life? That’s what Securian Financial’s Caregiving Survey Fact Sheet2 set out to answer.
Commitment
60% spend more than 10 hours a week caregiving
1 in 4 spend 20+ hours a week caregiving
Job Performance
50% said caregiving affected their job performance
41% took days off work
54% had trouble keeping up with daily tasks.
Emotional Impact
Most caregivers characterized their role as “supportive”, they also said it makes them feel:
33% feel concerned
30% feel honored
32% feel overwhelmed
28% feel obligated
Personal Experiences
79% said caregiving is fulfilling or their family relationships are stronger because of it
79% said caregiving is fulfilling or their family relationships are stronger because of it
70% regularly experienced stress and anxiety 17% found it “very difficult” to sustain their own
1 U.S. Department of Health and Human Services. The Basics. longtermcare.acl.gov/the-basics/. Last modified Oct. 10, 2017.
2 Securian Financial Caregiver Survey, conducted online by KRC Research among 816 caregivers 18+, February 2018. For full survey results: www.securian.com/caregivingsurvey.
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Coverage
43% said their loved one had some type of insurance to help with LTC expenses.
Most common challenges with insurance coverage:
- 37% benefits don’t cover the things they think it should
- 25% premiums keep rising and they have to pay more
- 28% benefits don’t cover their expenses as caregiver
- 24% too much paperwork needed to receive benefits
Creating a strategy to pay for future care expenses is more important than ever — but it’s important to find a solution that works for you.
Contact Harris Capital to learn about the many different ways to pay for care, including government programs and hybrid products, so you can choose the option that best meets your needs.
The purpose of this material is the solicitation of insurance. An insurance agent or company will contact you. This is a general communication for informational and educational purposes. The materials and the information are not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. If you are seeking investment advice or recommendations, please contact your financial professional.
Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues. Securian Financial is the marketing name for Securian Financial Group, Inc., and its affiliates. Minnesota Life Insurance Company and Securian Life Insurance Company are affiliates of Securian Financial Group, Inc.