How to Share Our Family Care Benefit

July 26, 2019
Photo of a multi-generational family picking tomatoes

1 in 4 Americans have taken leave from work to care for a family member with a serious health condition.1

More people take time off from work to care for a sick family member than for the birth or adoption of a child.1

1/3 of parents with kids ages 8 to 14 are dual caregivers responsible for an aging family member.3

More people take time off from work to care for a sick family member than for the birth or adoption of a child.1 That’s why we include our exclusive Family Care Benefit with most Platinum Advantage policies.2

It can offer your clients the freedom to take time for loved ones when a family member is seriously ill or injured. Here’s how:

  • Provides cash to replace income lost while caring for a family member with a serious health condition and working at least 20% fewer hours and earning at least 20% less income
  • Pays part of the basic monthly benefit, proportional to income loss of up to 80%; then pays the full monthly benefit
  • May be paid up to two times during the life of the policy for a maximum payout equal to six basic monthly benefits

Check out the statistics we’ve highlighted above to see how big this issue is for many families. You can use the stats to start conversations — then offer your clients extra peace of mind with Platinum Advantage. To connect at a personal level, share our Family Care Video.

 

 

Categories: 
Family Care Benefit / Platinum Advantage

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1 Fact Tank, Pew Research Center, March 23, 2017, pewresearch.org/fact-tank/2017/03/30/about-one-in-four-u-s-workers-have-taken-leave-to-care-for-a-seriously-ill-family-member

2 The Family Care Benefit is not available in Connecticut or New York. Family members include a client's spouse or domestic partner, parents and children (including adopted children, stepchildren and children of the client's domestic partner).

3 Parents, Kids & Money Survey, T. Rowe Price, Jan. 2019, moneyconfidentkids.com/content/money-confident-kids/en/us/media/research/2019-parents-kids-money-survey-results.html

 

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.

© 2020 StanCorp Financial Group, Inc.