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Research
Publication date:
18 May 2022
Last updated:
25 February 2025
Author(s):
Chartered Insurance Institute
A guide designed for financial services professionals on how to engage with consumers who are approaching, or are in, later life.
As we live longer, many of us are able to enjoy a stage of life that simply did not exist for most people before the end of the 20th century. However, as we enjoy the freedom and independence that often comes with this period in our lives, we also face challenges that are very different from anything we have experienced before.
Our work in this area is part of the Insuring Futures Programme started in 2016, which looked to help understand the risks people take in life, and help them manage those risks, starting with the risks that specifically affected women. One of its findings was that the resources and even the health we enjoy in our 70s, 80s and beyond (a period in people’s lives that is sometimes referred to as ‘later life’) are determined by choices we make and situations we find ourselves in throughout our lives.
This guide is designed to provide guidance to financial services professionals on how to engage with consumers who are approaching, or are in, later life. This is on the back of the CII later life consumer guide published in June 20211; the ongoing Insuring Futures process; and the advice already provided by other organisations such as Age UK.
This guide is a practical one focused on advice for financial services professionals engaging with older clients and their families who are either in, or preparing for, later life. By later life we mean the period in the latter stages of life when for many people care needs become more complex and costlier. It may also be affected by having to live with a disability such as dementia.
The guide has been produced as a result of research that was conducted by the CII to foster a conversation about the importance of preparing for later life - by sharing the wealth of information and experience of employers, trusted friends and, in particular, family, we believe that everyone could benefit from their expertise and share the burden of the important decisions that are being made.
Read the guide HERE
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.