One reason for life insurance agents to support caregivers is that caregivers may be unusually motivated prospects for life insurance.
Analysts at Prudential Financial Inc. have raised that possibility with a new cut of data from a survey of 3,013 U.S. adults ages 25 to 70.
The analysts pulled out the data for the 710 survey participants who reported providing care for a child with special needs or for an adult loved one.
The analysts found that caregivers caring for children with special needs had low confidence about their ability to meet financial goals.
But the analysts found that caregivers reported having ambitious goals for caring for children, and others in future generations, by transferring wealth.
Only about 30% of non-caregivers described providing college tuition for their children as an important financial goal, and only about 25% said they wanted to help children with a down payment for a home, or leave a large inheritance to their heirs.
The caregivers in the sample were much more interested in passing on financial support.