Get rich or die trying

With more of us living longer, an income plan that delivers a rising annual income to pensioners is an attractive prospect. By Sarah Griffiths

With 9,000 centenarians currently living in Britain and the figure set to rise to 40,000 in 2031, we have never had such great odds of living to a ripe old age. Whereas traditional annuities do not take longevity into account in terms of their payments, a new product by Life Trust, the Longevity Income Plan, allows a plan holder to effectively insure against the risk of outliving their financial resources and to benefit from living longer. Life expectancy increases by five hours every day, according to Professor Kirkwood of Newcastle University. The number of people over the state pension...