Trustmark Selects Leading Caregiver Platform Cariloop To Support Customers Facing Long-Term Care Challenges

Business Wire

LAKE FOREST, Ill.--(BUSINESS WIRE)--
Trustmark Voluntary Benefits, a national provider of individual and group financial protection products, including market-leading life insurance with long-term care options, will now provide even greater value to customers facing common caregiving challenges through its new arrangement with Cariloop.

Beginning March 1, all Trustmark Universal Life, Universal LifeEvents^® and Trustmark Life+Care^® policies with new employer clients gain access to Cariloop’s adult caregiving support services. Cariloop is the leading comprehensive caregiving support platform, helping people navigate the complexities of providing care for loved ones, such as identifying and vetting long-term, in-home care options. Trustmark policyholders will receive digital care support as well as one month of concierge coaching services per term year.

Providing long-term care can be tremendously taxing and stressful. A 2021 study from the American Association of Retired People (AARP), “Caregiving Out-Of-Pocket Costs,” found that there are 48 million unpaid caregivers in the U.S., and that family caregivers devote 26 percent of their income and about 24 hours per week to caregiving.

“When employees buy our permanent life with long-term care policies, we know that in most cases it is to gain peace of mind for their long-term future,” said John Anderson, President of Trustmark. “At a time when we have an aging population and many people are struggling to care for loved ones, this valuable product enhancement delivered by Cariloop helps our policyholders access the living benefit feature of their policy more effectively and ease the burden of caregiving.”

Cariloop CEO and Co-Founder Michael Walsh said that the two companies share similar values and the same commitment to health and overall wellbeing.

“We know how overwhelming it can be to navigate long-term care decisions, manage costs, and balance work and home lives while caring for a loved one,” Walsh said. “That’s why we are so proud to work with the team at Trustmark, one that shares our commitment to easing this burden. Together we’re ensuring that policyholders don’t have to face these challenges alone. Now they have access to expert guidance and support to help them make informed decisions, protect their financial future, and provide the best care possible for their loved ones.”

When a policyholder or family member needs coaching support, Cariloop’s licensed, experienced Care Coaches will create a consolidated care summary in its HIPAA-compliant portal that outlines the information needed to support the caregiving journey. Through the intuitive platform, policyholders and their family members can access a robust library of information and a suite of tools and resources, such as tips on caring for loved ones in the home, assistance finding respite care services, the latest information about Medicaid and Medicare, and more.

In a 2021 report from The Associated Press—NORC Center for Public Affairs Research, 88 percent of respondents said that they would prefer to receive any ongoing living assistance they need as they age at home or with loved ones.

“People want to stay at home to receive care, but many will struggle to afford professional care, leaving family members to care for their loved ones,” said Trustmark’s Dan Kraft, VP, Product and Innovation. “The financial flexibility of Trustmark’s permanent life products with comprehensive caregiver support services from Cariloop can help people remain in their home. We are excited for what this means for our policyholders.”

About Trustmark Voluntary Benefits

Trustmark Voluntary Benefits, a division of national employee benefits provider Trustmark, offers Life, Accident, Critical Illness, Disability, and Hospital insurance solutions that help policyholders protect what they care about most and achieve greater financial security and wellbeing. For more than 100 years, we’ve been going beyond to meet the needs of our customers. Trustmark Voluntary Benefits combines a caring, client-first approach with capabilities, services and products that help companies of all sizes solve their benefit challenges. For more information, visit www.trustmarkvb.com.

About Cariloop

Cariloop is the go-to solution for employer-sponsored caregiver support, blending expert coaching and guidance with an intuitive platform, and caregiver network. We empower families to navigate caregiving challenges with confidence by connecting them to experienced Care Coaches and tailored resources. Cariloop focuses on reducing stress and burnout, helping employees thrive at work and home. A proud Public Benefit Corporation and Certified B Corp, Cariloop is committed to driving social impact while delivering exceptional results for employers. By enabling organizations to support their workforce's caregiving needs, Cariloop drives higher productivity and improved retention. For more information, visit www.cariloop.com