As carers we are particularly good at prioritising the wellbeing of those we care for. It is – after all – what we do, but what happens when we are sick and can’t care for our loved ones. And, who cares for us?
I was ill recently and had to take time to recuperate and rest, but there is no respite from caring. My son doesn’t understand my feelings – and I accept that completely. He wouldn’t be able to give me five minutes to myself for example, he can’t. Many carers say the same and worry about becoming sick. I remember one mother telling me she ‘had to stay healthy for her son’ and showing me her food planner/diary. It was sellotaped to the kitchen cupboards. She was a single parent and the thought of her not being able to care for her 19-year-old son filled her with dread.
We can’t control the uncontrollable, but we can make a plan for it. Self-care is a priority – we all know that – but let’s look at some ideas that we can implement now, to ensure we are as prepared as possible. I’ve helped parents and carers plan for decades. Here are the most valuable hints and tips I can share.
Make a ‘Carers Plan’
You may have written this as part of your special needs plan, to accompany your will, but it can also be a valuable resource for replacement carers or guardians. Imagine you need to go into hospital for example, how would anyone know how to care for your child? Well, you can document a week of care in a carer’s plan. This effectively looks like a diary of care needs, medications, or interventions that others might not know about. We take for granted sometimes how much care we provide, and it may not come so easily for others. Having a written guide – especially if there are medicines to take and a specialist diet or therapies – would surely help both parties.
Check or arrange insurance plans
If you are employed, are there valuable benefits in place that would provide an income for you, if you were too sick to work? Do you know what they are, how long they run for and whether they can be topped up? If you aren’t employed, do you have any insurance plans in place that would provide you with either a lump sum or income, should you become seriously ill? If not, have you looked into arranging your own cover?
It is easier than ever to buy your own protection plans online nowadays, or you could approach a financial adviser to help you. There are sick pay plans that pay an income to houseworkers or the self-employed – you don’t need to be employed to take out your own plan. If there are two carers within the family, the temptation is often to insure the main breadwinner, but don’t fall into this trap. If either parent or carer is sick, the effect can be equally financially straining. I know that if I was ill, my husband might need to take time off work to care for me for example. We would have lost two incomes, mine and his. Don’t forget to insure the carer too.
If you do arrange your own life insurance, take time to look at the features of different policies. Some offer rehabilitation services, counselling and second medical opinions as part of the plan benefits, which may be extremely helpful (Although of course these can change.)
Take out a Lasting Powers of Attorney (LPA)
Carers should have their own LPAs in place. An LPA is a legal document giving someone else the authority to manage your finances or welfare, should you lose the ability to do so yourself. Imagine you were hit by a bus tomorrow; you were taken to hospital and were incapacitated. Who could step in and take control of your financial affairs or make healthcare decisions for you? No-one has that automatic
right – not even a spouse. If you had a valid LPA in place however, whoever you’d appointed as your attorney would be able to make those decisions for you. They’d be able to access your bank account, talk to providers or companies on
your behalf and make decisions on your care. You can find more information about LPAs here:
https://www.gov.uk/power-of-attorney
You can use a solicitor to help you or apply yourself.
Build an emergency fund
An emergency fund is a pot of accessible money you keep to one side, for unexpected financial shocks. As a rule of thumb, it should be around 3-6 month’s expenditure, but for carers I’d go higher, say up to 12
months. Some call this ‘deadline to the breadline’ planning and you can understand why. If you were taken ill and couldn’t earn, or lost your job, having an emergency fund could stop you from facing grave financial struggles. It might even mean you don’t need to borrow money from others, or move home, if the situation became very stark. Above all, having an emergency fund makes for a solid financial foundation and I wouldn’t feel comfortable starting to save or invest, before having an emergency fund in place.
Protecting your Family.
Taking time to plan for the unexpected before you need to can provide such peace of mind and stop the worry. If you’d like to know more about protecting your family or are just about to set up your own life insurance plans, take the time to visit our Protecting Your Family course for more helpful hints and tips.
