Sun Life Financial study reveals large majority of Quebecois expect
financial consequences from a serious health condition
MONTREAL, Nov. 16, 2011 /CNW/ - The second edition of the Sun Life
Canadian Health IndexTM reveals that almost 9 out of 10 Quebecois expect a financial hit from a
serious or chronic health condition and half believe it would have a
major financial impact, with 18- to 54-year-olds feeling they will take
the hardest blow.
Although aware they could face major financial consequences, fewer than
6 out of 10 in Quebec say they are preparing for a serious illness and
most have no written financial plan addressing this issue.
"When a health event happens you want to focus on what's most important,
which is taking care of yourself and spending time with family. Meeting
with an advisor and creating a plan lets you put your energy into what
really matters at such a difficult time," said Isabelle Hudon,
President, Sun Life Financial, Quebec.
Quebecois do, however, realize the financial impact of a major health
42% in Quebec say they have personally experienced a health issue.
77% say someone close to them has personally experienced a health issue.
Care after retirement
Many Quebecois expect that they will have to pay at least part of their
health-related costs after they retire. More than 70% in Quebec say
they expect to pay for medication, medical equipment in the home or
long term care. And a significant majority of Quebecois think they will
need long-term care (69%).
"A strong financial plan developed with an experienced financial advisor
gives you solutions for handling life's ups and downs and for living
your retirement dreams," explained Hudon.
On average Quebecois expect to live 81.6 years.
The following graphs provide a detailed illustration of the data
presented in this press release:
Financial impact anticipated from a major or chronic health condition
Quebecois who are financially prepared for a serious illness
Quebecois who have a written financial plan
Quebecois who have had someone close to them experience a health issue
Quebecois who have personally experienced a health issue
Most Quebecois expect to fund or share health care costs
Seven in 10 Quebecois anticipate needing long-term care
Information about the study
Measuring Canadians' attitudes, perceptions and behaviours about their
The 2011 Sun Life Canadian Health Index™ measures the attitudes,
perceptions and behaviours of Canadians relating to their personal
health. This second wave in a series of studies yielded an overall
index score of 70 for Quebec on a scale of 0 to 100. A person who
scored high on the overall Sun Life Canadian Health Index™ also scored
high on each of the individual attitudinal, behavioural and perceived
The overall index is a blend of scores in three sub-indices: Perceived
Health Index for Quebec (score = 73.8), Attitudinal Health Index for
Quebec (score = 68.2) and Behaviour Health Index for Quebec (score =
For more information about the national study, visit www.sunlife.ca/CanadianHealthIndex.
These are some of the findings of an Ipsos Reid poll conducted between
July 27 and September 12, 2011 on behalf of Sun Life Financial. For
this survey, a sample of 3,233 Canadians (including 1,234 Quebecois)
aged 18 to 80 years old from Ipsos' Canadian online panel was
interviewed online. Weighting was then employed to balance demographics
to ensure that the sample's composition reflects that of the adult
population according to Census data and to provide results intended to
approximate the sample universe. A survey with an unweighted
probability sample of this size and a 100% response rate would have an
estimated margin of error of +/- 2 percentage points, 19 times out of
20, of what the results would have been had the entire population of
adults in Canada been polled. The margin of error will be larger within
regions and for other sub-groupings of the survey population. The Sun
Life Canadian Health Index is composed of a series of sub-indices
composed of attitudinal, behavioural and perceived measures, each
benchmarked to 100. All sample surveys and polls may be subject to
other sources of error, including, but not limited to coverage error,
and measurement error.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of wealth accumulation and
protection products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial and its partners today
have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan,
Indonesia, India, China and Bermuda. As of September 30, 2011, the Sun
Life Financial group of companies had total assets under management of
$459 billion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol SLF.
Note to Editors: All figures in Canadian dollars.
SOURCE Sun Life Financial Inc.
For further information:
Senior Communications Specialist
Sun Life Financial