Life expectancy in Tanzania has steadily risen in recent years — a positive outcome of improved healthcare systems, advances in medical innovation, and growing awareness of wellness. According to the National Bureau of Statistics (2023), the average life expectancy now stands at 67 years and is projected to reach approximately 75 years by 2050.

While this progress is worth celebrating, it also means that individuals will need more resources to sustain longer, healthier lives.

Traditionally, many Tanzanians have relied on extended family networks and the principle of “black tax”, where younger generations support aging parents as a form of informal social security. 

But the world is changing. Younger people today are more independent and less likely to maintain these traditional financial dependencies. This shift makes it increasingly important for working adults to take personal responsibility for their financial futures.

Long-term financial planning goes beyond simply saving money. It is about building financial resilience that can withstand life’s uncertainties. It involves thinking ahead and preparing for key milestones—such as education, home ownership, medical emergencies, and retirement—through structured tools like insurance, pension schemes, and investment-linked life policies.

Getting started does not have to feel overwhelming. It begins with understanding your income, expenses, and financial goals, then setting aside a portion of your earnings for both protection and growth. Start small, but be consistent. Build an emergency fund, secure adequate health and life insurance coverage, and commit to regular saving or investment habits.

Seeking professional advice from a qualified financial advisor can help you develop a plan that aligns with your aspirations and family needs. Over time, these small, disciplined decisions compound into lifelong security and peace of mind.

As longevity increases and traditional support systems continue to evolve, the need for deliberate financial planning has never been clearer. With thoughtful preparation and the right partners, individuals can secure not only their own futures but also the wellbeing of those they love.

At Jubilee Life Insurance, we believe financial freedom is built on foresight and discipline. Our mission is to empower individuals to take charge of their financial journey through tailored life insurance, investment, and savings solutions designed to meet their evolving needs.

Living longer should not only be about adding years to life, but also adding life to those years—living with confidence that tomorrow is secure and the freedom to enjoy today.

Helena Mzena is the CEO of Jubilee Life Insurance Corporation of Tanzania Limited.