Female Caregivers Expect Financial Burden of Parents Long Term Care, Extensive Caregiving Can Lead to Purchase of Long Term Care Insurance, Two in three are caregivers for an aging parent, Three in five provide care without husbands help, A new Zogby International survey shows

Americas women caregivers, those who care for an elderly or sick relative, expect to take on the financial burden of their parents long term care needs, a new survey by Zogby International reveals. More than half of those polled (55%) say it is likely that they will be financially responsible for the parent or family member for whom they are caring.

Americas women caregivers, those who care for an elderly or sick relative, expect to take on the financial burden of their parents long term care needs, a new survey by Zogby International reveals. More than half of those polled (55%) say it is likely that they will be financially responsible for the parent or family member for whom they are caring.

According to the Long Term Care Partners' Portrait of Women Caregivers," 39% of those surveyed say their experience as caregivers makes them more likely to consider purchasing long term care insurance for themselves. Long term care insurance covers expenses for those who need assistance with activities of daily living such as eating, dressing and bathing, or who have a severe cognitive impairment such as Alzheimers disease. The study found that the more time someone spends providing care, the more likely she is to consider long term care insurance. The typical caregiver spends between three and ten hours per week (57%). Older caregivers, those in the 51-65 age group, spend the greatest amount of time providing assistance.

Because of their personal experiences, caregivers understand better than anyone the need to plan for long term care and the value of long term care insurance," said Paul Forte, Chief Executive Officer of Long Term Care Partners, which administers the Federal Long Term Care Insurance Program sponsored by the U.S. Office of Personnel Management. It is clear that having long term care insurance to help subsidize the cost of care and to help with the care itself greatly assists families both financially and emotionally."

Survey respondents said the financial responsibility of caregiving could be devastating. They reported having to pay for household and medical expenses for their parents and having to reduce their work status from full to part time. Some said they had to pass up opportunities for better paying jobs. On an emotional level, many women relayed examples of conflict related to caregiving. One woman told of being with her elderly mother when her husband died and the subsequent regret she felt. Others told of coping with their loved ones devastating illness, like Alzheimers disease, seizures or a serious disability. Still more said it was typical to have the whole familys activities dominated by the needs of the elderly relative.

Results show that 66% of the women surveyed provide assistance and care for a parent, while 17% care for another adult relative. Over three-fifths of those surveyed (62%) said the care recipient has remained in his or her own home, adding to the caregivers time away from her job or immediate family. One-fifth (20%) of care recipients live in the caregivers home, of these, 60% said they provide care without help from their husbands. A significant number of caregivers are under age 40.

Zogby International interviewed a random sample of 643 women for the survey. All provided at least three hours of care per week for another older family member or friend and were working full or part time outside the home or are self-employed. There was a +/-3.9% margin of error for the survey.

Long Term Care Partners, LLC, a joint partnership formed by John Hancock Life Insurance Company (John Hancock) and MetLife, is administering the Federal Long Term Care Insurance Program sponsored by the U.S. Office of Personnel Management. The Federal Program covers long term care expenses for care received at home, in a nursing home, assisted living facility, adult day care center or hospice. Most long term care is not covered by Medicare or most health insurance programs, including TRICARE, TRICARE for Life, and the Federal Employees Health Benefits (FEHB) Program.

The Federal Long Term Care Insurance Program is offered by John Hancock Life Insurance Company, Boston, MA 02117 and Metropolitan Life Insurance Company, New York, New York 10010. A web site for the Federal Long Term Care Insurance Program, www.ltcfeds.com, offers online applications, an interactive calculator to provide customized price quotes based on age and choice of benefits, and educational resources about long term care and long term care insurance. Information may also be obtained by calling 1-800-LTC-FEDS (1-800-582-3337), or, a TTY number for those who are deaf or hard of hearing is available at 1-800-843-3557.

John Hancock Financial Services (NYSE: JHF) and its affiliated companies, which include John Hancock Life Insurance Company, together provide a broad array of insurance and investment products and services to retail and institutional customers. As of September 30, 2002, John Hancock and its subsidiaries had total assets under management of $121.2 billion.

MetLife, a subsidiary of MetLife, Inc. (NYSE: MET), is a leading provider of insurance and other financial services to individual and institutional customers. The MetLife companies serve approximately 10 million individual households in the U.S. and companies and institutions with 33 million employees and members. MetLife also has international insurance operations in 13 countries. As of September 30, 2002, MetLife Inc. had total assets under management of $290.1 billion. For more information about MetLife, please visit the company's web site at www.metlife.com.

The Federal Long Term Care Insurance Program is administered by Long Term Care Partners, LLC, and offered by:
John Hancock Life Insurance Company, Boston, MA 02117
Metropolitan Life Insurance Company, New York, NY 10010