Black Caregivers Value Long-Term Care Insurance: Nationwide

But only about 4% of the Black caregivers surveyed said they had talked to a financial professional about long-term care costs, according to Nationwide.

Nationwide found evidence that Black caregivers may be doing better at informal LTC planning; 64% of Black caregivers surveyed said they had discussed long-term care with their family. Only 41% of all caregivers Nationwide has surveyed have said they have talked about long-term care with their family.

But only 58% of Black caregivers said they feel well-prepared financially for current or potential caregiving responsibilities, compared with 77% of all caregivers surveyed, according to Nationwide.

Kristi Rodriguez, the vice president of the Nationwide Retirement Institute, said in a comment on the survey results, included in the results announcement, that the COVID-19 pandemic has increased the importance of all forms of financial planning, including long-term care planning.

"One of the greatest gifts you can give your loved ones is having a plan for when you need caregiving," Rodriguez said.