After 40 years of exploring the world together, John Austin and his wife, Betty, now have different adventures. Diagnosed with Alzheimer's five years ago, "Betty has become my whole world," Mr. Austin says.
Mr. Austin represents the 51 percent of Unum's (NYSE: UNM) long term care claimants' caregivers who are spouses. While most of them are women, 45 percent of caregivers are men. Mr. Austin, who once owned his own company in Atlanta, Ga., is now retired and living in California with his wife.
"I get her up everyday, I get her dressed. Then, we have an aide who comes in five days a week,” Austin says. “At night, I'm chief cook and bottle washer, but during the day I know I can run errands and know Betty is in good care."
Mrs. Austin purchased a long term care insurance policy from Unum in 2002. Her policy covers professional home healthcare, adult day care, and provides facility coverage, which includes assisted living facilities, residential care facilities, nursing homes, and rehabilitation facilities.
"Long term care insurance and the home care option make it easier for couples to care for each other in the home and stay together, for better or for worse," said John Noble, director of long term care products for Unum.
Unum reported last month in the 4th Annual Landscape of Long Term Care that last year, 68 percent of Unum's group long term care claimants received care in their own homes. According to the U.S. Department of Health and Human Services, 50 million people provide that care for a family member.
"It's the only way to go," said Mr. Austin. "Keeping a spouse who has Alzheimer's or dementia at home is the greatest thing you can do."
Unum's internal analysis of its claimants' caregivers reveals the following:
- 18 percent – daughters and daughters-in-law
- 16 percent – friends, neighbors, hired caregivers, grandchildren and siblings
- 9 percent – sons and sons-in-law
- 5 percent – mothers, fathers and extended family such as nieces and nephews.
"I know things may change, but right now, I couldn't contemplate sending her somewhere," said Mr. Austin. "People really need to think about this coverage."
Unless referenced otherwise, the statistics included in this news release are based on Unum internal data as of 2008.