The Standard is a marketing name for Standard Insurance Company (Portland, Oregon), licensed in all states except New York, and The Standard Life Insurance Company of New York (White Plains, New York), licensed only in New York. Products and availability vary by state and are solely the responsibility of the applicable insurance company.
Focus on Caregivers’ Needs in November
October 28, 2020
The COVID-19 pandemic has shown us how unpredictable events can affect our daily lives. It’s touched the things we may have taken for granted – a steady income, our own good health, the health of family members. More than ever before, the prospect of getting sick or needing to take time from work to care for a family member who’s ill highlights the importance of preparing for the unexpected.
During November’s National Family Caregivers Month, help ease client concerns by sharing how income protection insurance — and The Standard’s Family Care Benefit1 – can protect clients’ finances if they or a family member become seriously ill.
Caregiving Is Widespread — Paid Time Off Isn’t
The Stats2
53 million provide unpaid care
61% also work
18% report high financial strain
Did you know that 53 million Americans are providing unpaid care today? Of those Americans, six in 10 balance caregiving responsibilities with their work. And about one in five report financial difficulties because of their caregiving responsibilities.2
A recent study found that only 60% of employers offer some form of caregiving leave — and it's usually not paid. In fact, family leave policies often require employees to take another type of leave, such as vacation days, to receive pay for caregiving leave.3
These statistics show us that caregiving responsibilities are widespread, but few caregivers have access to paid leave. That’s why talking to clients about the Family Care Benefit is a good idea.
How the Family Care Benefit Can Help
The Family Care Benefit pays a benefit when the policyowner reduces work hours — and loses income — to care for a spouse, parent or child with a serious health condition. This benefit is exclusive to The Standard.
Now is the perfect time to share the Family Care Benefit video to highlight the need for this important benefit. Then share the Family Care Benefit flyer to show how it works.
1 The Family Care Benefit isn’t available in California, Connecticut or New York.
2 Caregiving in the U.S., 2020 Report, AARP and National Alliance for Caregiving, May 2020
3 2020 DMEC Family Caregiving Pulse Survey, conducted in partnership with The Standard, July 16, 2020
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