2006 News Releases

Caregiving Impacts Personal Life, Family, Work and Financial Situation

Boston – Nearly two-thirds of respondents (or their spouses) who know family or friends in need of long term care are providing that care. And, almost one-third provide or have provided financial assistance to help pay for long term care, according to a new survey of 1,000 people ages 21 to 75, conducted by Greenwald & Associates in 2006 for John Hancock Life Insurance Company (John Hancock).

Long term care is the help someone needs when he or she can no longer perform activities usually associated with independent living, such as eating, bathing, or dressing. This kind of care is received at home, or in an assisted living facility, adult day care center or a nursing home.

“Providing care for our parents or other loved ones is a growing phenomenon and will become even more commonplace as our population ages,” said Laura Moore, senior vice president, John Hancock Long Term Care Insurance. “Our survey finds that providing this care can take a real toll on the caregiver, both financially and emotionally.”

Significant Impact of Caregiving Role
Nearly 7 in 10 (69%) respondents said that providing care and/or assistance significantly affected their personal lives, and 62 percent said that it had a significant impact on family. Almost half (45%) said that caregiving significantly affected their work, and 37 percent said it significantly changed their financial situation.

Of those who provide financial assistance, over one third (36%) pay more than $1,000 per month and, of those, 11 percent pay $3,000 or more per month.

When asked how they paid for this care, the caregiving respondents mentioned mostly personal sources:

• 27 percent used money set aside for immediate goals such as a new car or vacation
• 15 percent used money set aside for retirement
• 13 percent used current income/money out of pocket
• 12 percent gave up a job to care for them
• 7 percent used savings

“This data shows that people with caregiving experience do not want to place a similar burden on their own families,” said Moore. “In fact, caregivers are often the ones who are most likely to seriously plan for their own care, including considering long term care insurance.”

Knowing that caregiving has become more prevalent among Baby Boomers, John Hancock added new services to Leading Edge, its newest long term care insurance product, that provide real support for caregivers. The new Caregiver Support Services can be accessed by both insureds and their uninsured family members. These services include personalized telephone and website assistance for caregiving questions or concerns, and access to quality reports and ratings on more than 90,000 nursing home and assisted living facilities nationwide. In addition, this program offers exclusive provider discounts and care advisory services which can help save between 7 and 35 percent on the cost of long term care provider services.

“Most Baby Boomers understand the fact that they need to plan for their own care in the future, but care for their parents and other family members is a more immediate concern. Many are trying to juggle the demands of growing children and aging parents, and need all the help that they can get. We believe thatLeading Edgewill provide them with the support they need to better manage their caregiving responsibilities,” said Moore.

Leading Edge is currently available in 37 states. For more information, contact your financial advisor or visit the John Hancock Long Term Care website at www.johnhancocklongtermcare.com.

About John Hancock Long Term Care Insurance
Today, John Hancock, a unit of Manulife Financial Corporation, is one of the largest providers of LTC insurance overall with more than 912,000 policyholders and $1.1 billion of in-force premium. John Hancock has paid more than $1 billion in LTC insurance claims.

Having entered the retail LTC insurance market in 1987, John Hancock is the second-largest provider of individual coverage in the country. John Hancock began selling group LTC insurance in 1988 and today is the largest provider of employer-sponsored LTC insurance in the U.S.

In 2002, John Hancock and MetLife were selected by the Federal Government to offer Long Term Care Insurance to federal employees, retirees and various family members across the country. The program is the largest single employer-sponsored LTC insurance program of its kind.

About John Hancock and Manulife Financial
John Hancock is a wholly-owned subsidiary of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$381 billion (US$341 billion) as at September 30, 2006.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock today offers a broad range of financial products and services, including whole life, term life, variable life, and universal life insurance, as well as college savings products, fixed and variable annuities, long term care insurance, mutual funds and various forms of business insurance.

Long Term Care Insurance is underwritten by John Hancock Life Insurance Company, Boston, MA 02117.

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Contact:
Melissa Berczuk
617-663-4750