Whether you’re reviewing your own over 80s finances or helping a friend or relative take stock, it’s worth checking that everything is set up in a way that works well.
A pension income has further to stretch these days. Small changes, like switching bank accounts, reducing insurance premiums or reviewing borrowing, can make a meaningful difference over time. There may also be more impactful options to consider, such as releasing equity to make the household finances feel more comfortable.
Thankfully, there are many products designed for people at this stage of life. They range from specialist life and travel insurance policies, to equity release plans and other retirement income options. Sometimes it can be about choosing from products that may not be aimed at older people, but still have the features you need.
Comparing deals and understanding what’s available can help you spot better value, unlock flexibility or access extra funds if needed. This page pulls everything together in one place, so you can explore the options and make confident, informed decisions.
The right insurance can soften the impact of unexpected costs, whether that’s a big vet bill or damage to your home. This can be even more important in later life, when you don’t want to put the strain of big bills on savings and pension income. Finding the best deals rather than just letting your policies auto-renew can help you reduce premiums or switch to better cover.
Waiting months for tests, specialist appointments and surgery can take its toll. Health insurance can offer faster access to consultations and treatment, helping you stay mobile, manage health conditions and get back to feeling more like yourself sooner.
Life insurance at this stage is usually about helping loved ones or leaving a small legacy. Cover can help with funeral costs, essential expenses, or provide a cash gift for family. It gives reassurance that those closest to you are supported when you’re no longer around.
and likely a good deal of your wealth, too. Home insurance helps protect your property and belongings against damage, theft or unexpected events, so you’re not left facing large repair or replacement costs.
From a cruise to a trip to see family abroad, travel insurance helps cover medical costs, cancellations and lost luggage. The right policy means you can book with confidence and focus on enjoying the journey.
Whether you’re driving every day, nipping out for weekly food shops or visiting friends and family, having suitable cover in place helps protect you financially if something goes wrong on the road.
Pets can bring us so much love, laughter and comfort. Expensive vet bills though? Quite the opposite. Pet insurance helps cover unexpected costs, so decisions about your pet’s care aren’t driven purely by money.
Your home can sometimes make a contribution to your finances as you get older. If your mortgage isn’t cleared, a remortgage deal could reduce monthly payments or help you move to a property better suited to your needs. You may also be able to tap into all the value of your bricks and mortar with equity release. These and other options may help you make the most of your property wealth and enjoy a more comfortable, financially confident retirement.
A mortgage or remortgage can still be an option for people in their 80s. Eligibility will depend on your current work or pension income and any equity you have in your home. Many lenders have increased their maximum application age, with some now offering mortgages up to 85.
Equity release can turn some of your home’s value into ready cash, while letting you stay exactly where you are for as long as you wish. It can help fund home projects, pay off your existing mortgage, provide a financial gift for loved ones and much more.
Want to see what the equity in your home could do for you? Use this calculator to estimate how much cash you might unlock with equity release, helping you fund home improvements, lifestyle goals, or even gifts for loved ones.
Borrowing in your eighties is still possible and can be a practical way to manage larger costs without immediately dipping into your pension income or savings. Used carefully, it can also simplify existing debts into one manageable payment. The key is choosing options with clear terms and affordable repayments, so it supports your finances rather than stretching them further.
Need a lump sum without dipping into your savings or pension pot? A personal loan can help cover bigger costs, from home upgrades to travel plans or a child’s first home deposit. It can let you manage large expenses upfront while paying it back in affordable monthly instalments.
A good credit card can make your day-to-day spending work in your favour. Whether that’s earning cashback on purchases, picking up travel perks, or using a balance transfer to reduce interest, the right card can help you keep more of your hard-earned cash in your pocket.
Strong finances in your 80s start with simple foundations. The right current and savings accounts can help keep everything organised, bills manageable, and cash ready for both everyday life and life’s surprises. With accounts designed around flexibility, ease and security, you can feel confident that your money is working as hard as you have.
Your current account should make managing money effortless. Useful features, fair fees and smart tools help you stay on top of day-to-day spending with confidence.
Whether you’re building a safety buffer, saving for travel, or keeping money accessible “just in case”, the right savings account helps your money grow without locking it away in long-term investments.
If you haven’t accessed all of your pension savings yet, now could be the time to consider your options. If you have money in a defined contribution pension scheme, have you decided how to turn it into income? There’s no single “right” choice – the best option depends on your priorities, spending needs, and comfort with risk. You might prefer a steady income, the flexibility to take funds as needed, or a mix of both. The decisions you make now will shape how secure and enjoyable your retirement feels.
An annuity provides a guaranteed income. It can form a dependable base for day-to-day spending, helping you budget for essential costs and feel secure with a steady income to depend on.
Drawdown lets you take money from your pension pot as needed while the rest stays invested. It’s a flexible option, giving you control over how you make your withdrawals.
Curious how much guaranteed income your pension savings could give you? This tool helps you explore your options, so you can see what your pension pot could deliver and plan your retirement with confidence.
Our guides focus on real-world choices for over-80s, from understanding choices that affect your retirement income to information on getting the most from your health insurance if you have pre-existing conditions. Practical, clear and designed around what matters at this stage, they help you make confident financial decisions and plan with ease.
If you’re retiring soon, how you access your pension pot can shape your lifestyle. This guide explains how annuities and drawdown work, and the factors to consider when choosing the best income option.
Explore what an equity release plan could mean for any means-tested state benefits or state-funded care you receive now or in the future. Plus, a quick summary of how equity release works.
Having a condition such as asthma or high blood pressure doesn’t automatically mean you can’t get health insurance, but it may influence the cost of your policy or the terms offered.