As the baby boomer generation continues to age, more and more individuals who need long-term care (LTC) are opting to age in place and receive informal care in their homes, with care being provided by a family member, partner or close friend. These informal caregivers offer a compassionate, personal touch, but frequently are left to manage stress, balancing competing priorities and a lack of access to adequate resources or training.

Recognizing the crucial role of informal caregivers, OneAmerica Financial® conducted a study in conjunction with Hanover Research to better understand these daily challenges. In the survey, we explored how informal caregivers came into their positions, why they often work without compensation, and where they go for information and support.

Despite many people having LTC coverage or some type of insurance that would cover formal care, many opt instead for informal care, preferring someone they know to care for them from the comfort of their home. The most common tasks that these informal caregivers manage, according to the survey, include: meal preparation and feeding assistance (76%), household cleaning and chores (75%), companionship or emotional support (72%), transportation (63%), and monitoring the recipient’s health (62%).

“We often turn to the ones we love when we need help,” said Dennis Martin, president, Individual Life and Financial Services. “The survey shows a clear preference for informal caregiving. Yet, most of us are not prepared to offer or provide that kind of care.”  

While many people may prefer the care of a loved one, an education gap clearly exists as most informal caregivers do not have the training or expertise to provide care. More than half (55%) of the respondents said they learn how to provide care via trial and error. And almost none of the informal caregivers are compensated for their work, with 91% saying they do not get paid. This can lead to issues for the informal caregiver with 56% reporting frustration with their situation. The most common hurdles named by informal caregivers in the survey include: balancing caregiving with other responsibilities (51%), emotional stress and burnout (47%), and lack of time for self-care or personal activities (32%).

OneAmerica Financial can help these often-overlooked informal caregivers with our Caregiver Consultant Benefit. With a OneAmerica Financial company policy that includes this benefit, caregivers have the option to meet each month with a trained consultant who can offer guidance, help them create a self-care plan, and recommend resources and tools to optimize the care they give. No more going it alone. In our survey, 88% of respondents said this benefit would improve the quality of care provided to the care recipient.

“We understand the immense dedication that caregivers bring to their roles, often without the support they truly need,” said Amy Chinn, vice president, Long-Term Care Claims & Risk Management. “Our Caregiver Consultant Benefit is uniquely designed to fill that gap, providing guidance, resources and empathy to help caregivers manage their journey. This survey underscores the importance of this support, and we're honored to offer a benefit that truly makes a difference for caregivers and their families."

For more information, view our survey whitepaper here. 

About OneAmerica Financial^®

OneAmerica Financial^® is a national financial services organization helping people build greater certainty for better moments, every day. The companies of OneAmerica Financial have been advancing financial security for almost 150 years, supporting millions of customers with solutions across life insurance, retirement, employee benefits and long-term care. As a people-first mutual organization, OneAmerica Financial prioritizes customers’ interests and maintains a long-term focus on both value and financial stability. For more information visit OneAmerica.com.

OneAmerica Financial^® is the marketing name for the companies of OneAmerica Financial.​

Products issued and underwritten by The State Life Insurance Company® (State Life), Indianapolis, IN, a OneAmerica Financial company that offers the Care Solutions product suite. Not available in all states or may vary by state. Care Benefit Concierge services is a company practice and may be subject to change.

Hanover Research is not an affiliate of OneAmerica Financial.

Provided content is for overview and informational purposes only and is not intended as tax, legal, fiduciary, or investment advice.

Media Contact:

Zach Osowski

Zach.Osowski@oneamerica.com