Long Term Care News Brief - Women worry more than men about future long term care needs...but many fail to act

    WATERLOO, ON, Feb. 22 /CNW/ - Women are more worried than men when it
comes to their need for future long term care and associated costs, according
to a national survey for Manulife Financial. Despite their concerns, they're
no more likely than men to factor long term care costs into their retirement

    -  62 per cent of women surveyed said they worry about the likelihood
       that they or their partner might need to go into a nursing home,
       assisted living facility or require care at home in the future

          -  Only 49 per cent of men share the same concern

    -  63 per cent of women worry about their ability to pay for care in a
       nursing home, assisted living facility or care at home someday

          -  50 per cent of men report being worried about the ability to pay
             for long term care

    -  Yet, only 21 per cent of women had factored long term care costs into
       their retirement plans

          -  20 per cent of men have considered long term care costs in
             retirement planning

    Most Canadian women will outlive their male partners.(1) Statistics
Canada shows that females live longer plus, in more than one-third of Canadian
couples, the male partner is at least four years older than the female.(2)
    As a result, many women will need to use some or all of their retirement
savings to support their partner's long term care needs. By proactively
planning for their own long term care needs, women can avoid falling short
when they're alone and they need care themselves.

    About the survey:

    Manulife Financial commissioned Market Probe Canada to survey random
sample of 1,008 Canadians in May 2007, ages 35-75, with annual household
income of $50,000 or more. Margin of error is +/- 3.1 per cent, 19 times out
of 20.

    (*) Sources: 1) Statistics Canada website, 2008. 2) Canadian Social
    Trends, Statistics Canada Autumn 2003.

For further information:

For further information: Tom Nunn, Manulife Financial, (519) 594-8578,
tom_nunn@manulife.com; Angela Rea, Jennifer Meneses, PraxisPR, (905) 949-8255
(extensions 231, 221), angela@praxispr.ca, jennifer@praxispr.ca

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