News Details

Unum's 4^th Annual Landscape of Long Term Care Reveals Claimants Prefer to Age in Place

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- When Ruth Adams' husband Norman* was diagnosed with Parkinson's disease 12 years ago, Mrs. Adams decided to keep her husband at home as long as possible. "I know he would do the same for me. I have no doubts," she said.

The couple's Unum (NYSE: UNM) long term care policy pays for a daily visit from a certified aide who helps care for Mr. Adams.

"I never knew our long term care insurance would play such an important role in our lives," said Mrs. Adams. "If I didn't have this coverage I would have to settle for something far less - not the quality of care we have now."

Last year, 68 percent of Unum's group long term care claimants received care in their own homes, while only 12 percent received care in a nursing home.

"With advancements in technology, more people are opting to stay at home for their long term care needs," said John Noble, director of long term care. "Our claims have shown a consistent increase in the use of the home care option, proving there's truly 'no place like home.'"

Unum's 4^th Annual Landscape of Long Term Care analysis of claims trends shows:

    --  The leading causes for Unum's group long term care claims include brain
        and nervous system injuries. Dementia follows close behind.
    --  The average length of a Unum group long term care claim in the under-65
        age group is 32 months.
    --  Forty-five percent of Unum's group long term care claimants are under
        the age of 65 at the time of disability and 11 percent are under age 50.
    --  The average age of a person filing a long term care claim with Unum is
        66. For claimants under the age of 65, the average age is 53.

In 2008, Unum covered more than 715,000 people under its long term care policies, processed more than 1,200 claims and paid $19.7 million in benefits.

Unum holds 77 percent of the group long term care market and has ranked No. 1 in the industry in terms of inforce cases and insured individuals for the past four years, according to LIMRA.

Unless referenced otherwise, the statistics included in this news release are based on Unum internal data as of 2008.

*Names have been changed to protect the identity of Unum's claimants.

About Unum

Unum (www.unum.com) is one of the leading providers of employee benefits products and services in the United States and the United Kingdom. Through its subsidiaries, Unum provided nearly $6 billion in total benefits to customers in 2008.

    Source: Unum