In addition to all the other challenges the military face, many military households have to face an extra financial burden: caring for an elderly family member.
The First Command Financial Behaviors Index reveals that 36 percent of middle-class military families either care for or anticipate caring for a parent or other elderly family member. This compares to just 22 percent of the general population of middle-class families.
Many survey respondents are focused on in-home care (44 percent in their own home and 40 percent in the home of the elderly family member), but they also recognize the need to pay for other professional assistance, including home care service (30 percent), health care services (11 percent) and nursing home care (10 percent).
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
