Canadians often think they will have the option to work past retirement but that isn't always the case when health issues arise, insurance company says.
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Canadians worry about health as they age

Two-thirds of Canadians say their biggest worry as they get older is that their health will deteriorate, but only 22 per cent said they had planned or saved for health costs in retirement, according to an online survey.

Although Canada has a publicly-funded health care system, Canadians worry about the costs of drugs and medical treatments over and above what is covered.

Forty-seven per cent worry about needing more long-term care than they can afford and 45 per cent worry they will outlive their savings.

Most Canadians do not live with their children when they get old, although that may be less true in immigrant families. If seniors cannot live on their own, they often seek out retirement homes that provide varying levels of assistance. While many people plan to work longer than the standard retirement age, they often cannot because of health issues.

The survey of nearly 2,800 Canadian adults was conducted for the Sun Life Financial company. It does not have a margin of error assigned since online surveys are not a random sample and not necessarily representative of the whole population, says the polling firm, Ipsos Reid.

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