Kansas City, MO (Top40 Charts / National Association of Insurance Commissioners (NAIC)) Grammy-winning singer-songwriter
Amy Grant knows firsthand the complex emotional and financial decisions facing today's baby boomers. The lessons she learned caring for her mother and now her aging father are the focus of a new television public service announcement (PSA) for the
National Association of Insurance Commissioners (NAIC).
In 2011, Grant moved her mother into her home to surround her with family during her final days battling dementia. Today, Grant and her sisters are caring for their dad as he suffers from the same debilitating disease.
"At first I found myself asking, 'Why is this happening to my family?'" Grant says. "But somewhere along the way I realized these were the last great lessons from my parents: Protect the people and things you love. Enjoy every second life gives you. And, plan ahead so when unexpected turns come, you're ready."
Filmed at Grant's home in Tennessee, the PSA features the singer's reflections on how making tough family choices, including insurance decisions, are more bearable when you're prepared and have the resources you need to make informed choices. The NAIC helps consumers evaluate their insurance options and connects them to their state insurance department for additional information.
"Fortunately, I have the emotional support of my sisters, husband and kids. My family is blessed not to have the typical financial concerns," Grant says. "But I know everyone isn't as lucky. That's where the NAIC comes in. They offer unbiased insurance information you can trust - no strings attached."
Mapping the Journey
"Both my parents were in their seventies when the first signs of dementia appeared," Grant says. "At first I thought it was just old age, especially since nobody else in our family had ever had dementia. Still, knowing what you're dealing with doesn't make it any easier. One night as I was leaving for a concert my mom asked, 'Oh, you sing?' I barely kept it together until I got out the door."
These experiences prompted Grant to partner with the NAIC to help consumers get smart about insurance so they can have peace of mind while navigating life's inevitable twists.
"The NAIC and your state insurance commissioner can help you make sense of the most complicated insurance situations," says Jim Donelon , NAIC President and Louisiana Insurance Commissioner. "Whether you're caring for elderly parents, planning your own retirement, or sending kids off to college, the NAIC is here to help you understand the options so you can choose the coverage that meets your needs."
Some tips from Grant for caregivers of adult parents:
Create a plan: Instead of living in fear, frustration and regret, be proactive. Establish a plan that provides your loved one the care he or she needs, and allows you to actually enjoy the time you have together.
Solicit support: Don't be afraid to ask for help. Delegate responsibilities among the community of individuals who care for your loved one, too. Caring for a parent while working a full-time job and raising kids is draining, emotionally and physically.
Talk about finances: Long before you think you need to, review your parents' insurance information to assure you understand their wishes and to make changes together. If your parent is considering purchasing an annuity, additional life insurance or long-term care insurance, be sure to do the research. The NAIC Insure U program can help you better understand these options.
According to the NAIC, another important step is to make sure your parent enrolls in Medicare before age 65. Be sure to review their coverage to determine if they need Medicare Supplement Insurance, also known as Medigap.
To view the PSA and find audio interviews and more insurance tips for baby boomers, visit www.insureuonline.org/boomer. Or contact your state insurance department for information specific to where you live.
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