By LIMRA – June 12, 2019
According to LIMRA, 43 million Americans serve as an unpaid caregiver for a family member today. Aside from the out-of-pocket costs associated with caring for a loved one – which AARP estimates is $7000 annually – there’s often a cost in terms of lost opportunity for those who work outside the home. LIMRA found half of unpaid caregivers work full-time outside the home, but the demands of taking care of a loved one has impacted their career: 4 in 10 had to take an unpaid leave of absence or decrease the number of hours they worked because of the demands of caring for a family member; 3 in 10 say they have turned down a promotion; a quarter say they lost job benefits – such as medical, retirement, insurance, etc. because they had to cut back their hours due to their caregiving responsibilities.
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