5th Feb '09 - Retirement Plans 'Just Got Bigger'
Posted on Thursday, February 05th, 2009 at 4:42pm
Britons may want to get their life insurance on track if they are to follow in the footsteps of their colleagues.A survey by Standard Life reveals that many individuals have no intention of slowing down once they leave the workforce and plan to embark on life's adventures.
Over half of those aged between 46 and 65 want to spend more time with their loved ones.
Moreover, a third would like to learn a new skill such as a new hobby or language, the poll reveals.
"Our research proves that baby boomers' attitudes to retirement have fundamentally changed and they are now more ambitious for this third stage of their life than any generation before them," states John Lawson, head of pensions policy at Standard Life.
Indeed, level term life insurance could cover the costs of everyday expenditure for loved ones should they find the household income is reduced.
But Britons may need encouragement by the government to stash their cash away because of the current confidence crisis about saving money, PricewaterhouseCoopers claims.
Bookmark with:
