Peace of mind, today

Planning for later life

Protect what’s important

If you became seriously ill, would your family know what to do? Would they know who you bank with, whether you have life insurance, or where to find your will?

Below is some information to consider as you start planning for later life. You may want to document your wishes and share these with loved ones to provide peace of mind if anything happens to you.

Getting started

Will writing

What is a will?

A will is a legal document that explains how you want your property and assets to be distributed after you die, as well as instructions for care of any children under 18. It is recommended that you revisit your will to keep it up to date. Your may also want to store a Letter of Wishes with your will. 

Creating a will

If you are ready to write your will, you may want to seek professional help from a solicitor. It may be helpful to think about your preferences first. 

Why make a will?

Making a will ensures that your wishes are fulfilled and that your money and assets are shared out as you would like them to be. It can be easy to put off writing a will, but its just as easy to do it now and revisit when life changes. 

Power of Attorney (POA)

What is a Power of Attorney?

A Power of Attorney (POA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions or to make decisions on your behalf. Nobody relishes the possibility of not being able to make their own decisions, but considering it is the right thing to do. 

When should I think about a Power of Attorney?

You don't have to wait until something goes wrong to think about or register a Power of Attorney. You may be able to arrange a Power of Attorney now and include a restriction whereby it will only come into effect if you no longer have mental capacity.

How do I get started?

You can choose one or more people to be your attorney.

Healthcare wishes

Your healthcare wishes

If you start to think about your healthcare wishes now your loved ones will know how you’d like to be treated if you can’t look after yourself. We recommend that you consult with a medical professional to understand the pros and cons of different treatment options. It’s important to document your wishes to share, where appropriate, with your attorney, loved ones, and medical team. 

Communicating healthcare wishes

This can be difficult when dealing with illness and other health issues. You could consider now how best to communicate your healthcare wishes with your doctors or care team throughout end of life stages and when to include your family in these important healthcare conversations.

Advance statement

An advance statement is a non-legally binding document that outlines your values and preferences for future medical care, in case you cannot communicate them yourself. This can help your family and care team know how to best make decisions on your behalf.

Life Insurance

What is life insurance?

Life insurance can help you to protect your loved ones financially if something happens to you that is covered by your policy

Why take out life insurance?

There are many reasons that you may choose to take out life insurance. Different policies will cover different things, so it’s a good idea to think about what’s important to you before taking out a policy.  

Your financial life

It is important to safely record information about your financial life and share it with someone you trust so they know where to go if something happens to you. You may want to consider creating a list of your accounts and assets.  

This list could include details of key financial accounts, pensions, policies, shares, benefits, subscriptions, and property. You can include information on where to find these assets and who to contact about them but remember don't share your passwords or any sensitive information.

Steps to take today

Retire with confidence

Retirement and pensions

Whether you're at the start of your career or you're already well down that road, we could help you plan for your retirement.

Information Message

Make your wishes known

Will writing

It can be easy to put off writing a will, but it's just as easy to do it now and revisit it when life changes.

Information Message

Look after your loved ones

Life insurance

Help provide financial security for your loved ones with the right cover over the right length of time. Life insurance is provided by AIG.

Information Message

Other things to consider

After a bereavement

We want to make things as straight forward as possible for you. To notify us of a bereavement and for more information on what to do when someone dies, read our bereavement guide. 

What about your pets?

Don't forget to plan for the care of your pets. You should let your loved ones know who will be looking after your pets if you can't do it yourself and how you would want them to be cared for. 

Find ways to make your money work harder

Prepare for the future by taking a look at our guides on budgeting, saving and dealing with debt. Try our range of tools to help get started. 

Think about your digital legacy

Have you thought about what you want to happen to your online accounts and files once you die? Its important to let the right people know what information you want to remain and what you want deleted.

Facebook provides some options for what to do with your profile after you die, including designating a ‘legacy contact’.

Other ways we can help

Banking My Way

A free service that allows you to record information about the support or adjustments you need to make banking easier. 

Available to customers aged 16 or over in the mobile app or Online Banking. For customers under 16, parental consent is required and information must be recorded in branch or over the phone. 

Information Message

Get your finances in shape

For more help getting your finances in good shape, hints and tips for everyday spending, or for some help with future financial goals, check out our free Financial Health Check service. 

Information Message

Anything else we can help you with?