Blueprints to Black Wealth

PLAN YOUR GOALS 

UNDERSTAND THE BENEFITS OF LIFE INSURANCE 

Thinking about life insurance for the first time or deciding if an old policy still meets your needs can feel overwhelming. But taking the right steps can help secure your financial future and provide a strong foundation for your generational wealth strategies.

Protect your family: Do you have loved ones who depend on your income? 
Life insurance can help replace that income if you're no longer there.
Cover debts: Would your family struggle with mortgage payments, loans, or 
other debts? Life insurance can help pay for them.
Fund future goals: Want to ensure your family can maintain their lifestyle? 
Life insurance can help provide the funds so they can maintain their style of living.

Consider coverage options

If you’re young and healthy, a term life insurance policy can be a good starting point. It’s the most affordable option and can provide a strong foundation for your financial legacy. 

As your life changes, so will your insurance coverage needs. A Prudential Financial Professional 
can review our coverage to help ensure you have the right amount of protection based on your 
needs and goals. 

Understand all the ways life insurance can help you create a lasting legacy for your loved ones and future generations. 
 

PLAN YOUR GOALS 

LIFE KEEPS MOVING

Is your life policy keeping up with your life? A policy review can help make sure your life insurance is up to date.

While your life has changed in countless ways, your life insurance may have remained the same—silently protecting you and your loved ones. However, you may find that you now have additional needs to protect.

Your current coverage may not be enough if you’ve experienced any of the following scenarios. 

YOU ADDED A NEW MEMBER TO THE FAMILY

Whether it's a baby or an extended family member, your coverage should match the ones you take care of.

YOU RECENTLY MADE A
BIG PURCHASE

Whether you bought your first home or a
bigger one, consider how you can protect 
your family's future in it.

YOU CHANGED JOBS OR RECEIVED A PROMOTION

Your hard work is paying off, it's a good 
idea to review your employer offered 
coverage with a financial professional.

YOU RECENTLY 
GOT MARRIED

Beginning a new chapter is an important
time to dream together and work with 
a financial advisor to help protect 
those dreams.

YOU STARTED OR CONTINUE TO GROW A SMALL BUSINESS

Protect what you are building with adequate insurance coverage and policy types.

YOU HAVE CHILDREN 
IN COLLEGE

As your children are taking the next step, 
consider how your coverage should adjust
as they become less financially dependent 
on you.

YOU HAVE A FAMILY MEMBER
WHO IS NOW DEPENDENT ON YOU

Evaluate how your current policy could
expand to help protect and strengthen
multiple generations.

YOU RECENTLY RETIRED AND WANT TO PLAN YOUR LEGACY

Celebrate what you have earned through 
your life's work as you think of future generations and how you can empower them.

Make sure your changing needs are protected.

PLAN YOUR GOALS

HOW TO PLAN FOR CAREGIVING

May 28, 2018

   • Balancing eldercare with other obligations is a challenge for a growing number of American families.

   • Caregiving challenges cost employers in lost productivity, absenteeism, and workday interruptions.
      More than three out of four employers believe caregiving benefits for family members will grow in
      importance to their company.
 
A growing number of American families are taking on the task of caring for an aging parent, requiring them to balance eldercare with other family and work obligations. As employers look to help their employees – and gain a competitive edge in the war for talent – they have a unique opportunity to help employees navigate these challenges.

More than three-quarters of employers believe caregiving benefits for elderly or ailing family members will grow in importance to their companies over the next five years. 

Key Takeaways

   • Balancing eldercare with other obligations is a challenge for a growing number of American
      families.

   • Caregiving challenges cost employers in lost productivity, absenteeism, and workday interruptions.
      More than three out of four employers believe caregiving benefits for family members will grow in
      importance to their company.
 
A growing number of American families are taking on the task of caring for an aging parent, requiring them to balance eldercare with other family and work obligations. As employers look to help their employees – and gain a competitive edge in the war for talent – they have a unique opportunity to help employees navigate these challenges.

More than three-quarters of employers believe caregiving benefits for elderly or ailing family members will grow in importance to their companies over the next five years. see reference 1

As far back as 2013, the AARP estimated that eldercare costs businesses annually:

   • $5.1 billion in absenteeism

   • Nearly $6.3 billion in workday interruptions (e.g., coming in late, leaving early, taking time off, or
      spending work time on eldercare matters)

   • $6.6 billion to replace employees who had left their jobs

   • $17.1 billion to $33.6 billion in lost productivity, depending upon the level of care involved - see reference 2

As far back as 2013, the AARP estimated that eldercare costs businesses annually:

   • $5.1 billion in absenteeism

   • Nearly $6.3 billion in workday interruptions (e.g., coming in late, leaving early, taking time off, or
      spending work time on eldercare matters)

   • $6.6 billion to replace employees who had left their jobs

   • $17.1 billion to $33.6 billion in lost productivity, depending upon the level of care involved

As a result, employers are likely to look at ways to assist their workers who are impacted by the growing caregiving crisis.

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1 SHRM, “Employers See Opportunity to Help Workers Take Care of Others,” August 2017.

2 AARP, “How Employers Can Support Working Caregivers: Eldercare Benefits and Other Caregiver Programs Are Powerful Retention Tools,” June 2013, https://www.aarp.org/work/employers/info-06-2013/employers-support-working-caregivers.html (Accessed November 2019).

LIFE KEEPS MOVING

Your current coverage may not be enough if you’ve experienced any of the following scenarios.

YOU ADDED A NEW MEMBER TO THE FAMILY

YOU RECENTLY MADE A BIG PURCHASE

YOU CHANGED JOBS OR RECEIVED A PROMOTION

YOU RECENTLY GOT MARRIED

YOU STARTED OR CONTINUE TO GROW A SMALL BUSINESS

YOU HAVE CHILDREN IN COLLEGE

YOU HAVE A FAMILY MEMBER WHO IS NOW DEPENDENT ON YOU

YOU RECENTLY RETIRED AND WANT TO PLAN YOUR LEGACY