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January 25, 2020

Do Caregivers Need Life Insurance?

insuring caregivers

Being a caregiver for someone is an extremely important role to play. Caregiving requires compassion, energy, time, and effort, and while it can be rewarding to know the magnitude of all you’re doing for another individual, caregiving can be difficult and time-consuming, to say the least. And while caregiving itself may seem to occupy most of your time and thoughts, it’s important to consider whether you’re properly insured.

A Caregiver’s Duties

The role of a caregiver includes numerous duties and responsibilities, some of which include: cooking, cleaning, providing transportation, and helping the individual being cared for with their basic needs while remaining on call 24/7.

Insurance Considerations

If you have a caregiver or if you are providing care for someone else, the importance of proper insurance is something to consider. After all, if something happened to your caregiver and they were not able to provide care, their absence could create a significant impact. For this reason, caregivers may want to consider purchasing a life insurance policy to help provide support to others in the event that something happens to them.

You may also want to think about other types of supplemental health insurance that could help with finances if the caregiver were to experience a critical illness, accident, or other health incident that would prevent him or her from caregiving duties.

The Magnitude of Caregiving

Since caregiving requires so much of an individual or individuals, it’s important for both the caregiver and the person receiving care to consider all possibilities. If something were to happen to the caregiver that would prevent him or her from performing his or her duties, it could have a huge financial impact on the individual receiving care. Replacing the services of an unpaid caregiver could be significant, and proper insurance could help with caregiving expenses.

If you have any questions about life insurance, or about types of supplemental health insurance that could help in the absence of a caregiver, contact a licensed insurance agent.

  1. Family Caregiver Alliance, Caregiving 101: On Being a Caregiver

  2. National Association of Insurance Commissioners, “Whole Life Insurance,” Investopedia

Categories: Insurance, Life Insurance, Supplement Health Insurance

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