Why is it important to think about a longer life?

People are living longer, which means retirement savings and other assets may need to support them for more years. Thinking about a longer life can help customers consider how long money may need to last, how income may change in retirement, possible care costs, flexibility if circumstances change and how much support they may be able to offer family.

Why talk to your family?

Talking about money, gifting and inheritance can be difficult. But conversations can help reduce uncertainty and avoid misunderstandings. A useful starting point may be to discuss what matters most, whether support may be helpful now or later, what each person needs to feel financially secure, where important documents are kept and who should know about future wishes.

What should I review?

You may wish to review your Will, retirement plans, savings and investments, protection arrangements, gifting plans, powers of attorney and important documents. It may also help to make sure your family understands your wishes.

Family review Life100+ | Canada Life UK

Life changes. Your finances, health, family and priorities can all change over time.

The Life100+ Family Review is a simple way to think about what may need attention now and what you may want to plan for in the future.

Your future

Have you thought about how long your money may need to last, including if you live longer than expected, and whether your retirement income and plans could cover future care costs and changes in your circumstances?

Your family

Are you considering giving money to family? Have you discussed what support may be useful now or later, and have you talked about inheritance expectations?

Your wishes

Do you have an up-to-date Will? Do people know where important documents are kept? Have you thought about who could make decisions if you could not?

Your plans

Have you reviewed inheritance tax, savings, investments, protection arrangements and the effect that making a gift could have on your own future? Explore Plan for a longer life

People are living longer, which means retirement savings and other assets may need to support them for more years.

Thinking about a longer life can help customers consider how long money may need to last, how income may change in retirement, possible care costs, flexibility if circumstances change and how much support they may be able to offer family.
Talking about money, gifting and inheritance can be difficult. But conversations can help reduce uncertainty and avoid misunderstandings.

A useful starting point may be to discuss what matters most, whether support may be helpful now or later, what each person needs to feel financially secure, where important documents are kept and who should know about future wishes.

Suggested next steps

Giving money to family

Planning for your family’s future means balancing the support you want to give with your own future financial needs. Explore the topics below to help you plan with confidence.

Making your wishes clear

Explore our practical guide to learn how an lasting power of attorney (LPA) works and why it could be an important part of your family's planning.

Getting help with an estate

Understand the probate process and the steps involved in managing an estate.

Inheritance tax and planning

Read our guide to common inheritance tax questions. What it is, how and when it's paid and the ways you can help to reduce it.

Related Life100+ links

Where are you on your Life100+ journey?

Discover how your priorities, choices and life satisfaction may evolve over time. Take our interactive Curve of Life quiz to explore where you are today and what could matter most in the years ahead.

Curve of life quiz

Planning for a longer life

People are living longer than ever before. Discover insights from our Life100+ research and explore how thoughtful planning can help you make the most of your future opportunities.

Find a financial adviser

Why do we work with financial advisers?

Good financial planning and sound advice are critical to your current and future well-being. A professional adviser can help you weigh your options and understand the pros and cons of individual financial products. We recommend getting advice for all key financial decisions.

Find a financial adviser

Important information

This information is intended as a general guide only and is not personal financial, legal or tax advice. Consider taking appropriate financial, legal or tax advice before making decisions about retirement, savings, investments, gifting, inheritance, estate planning or family support.