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Opting out - life insurance?

Discussion in 'Retirement' started by TonyM19, Apr 22, 2019.

  1. TonyM19

    TonyM19 New commenter

    Hi

    My best 3 in 10 years falls off the edge of the calculations from September 1 2019. I intend to stop paying into my pension on August 31 and 'freeze' it until I retire (I'm 58, fairly healthy and intend to work for at least 2 more years). I understand all the implications with tax etc, but wondered if anybody else had done something similar and had found some form of life insurance to cover the death in service part of the pension. I know it will be very unlikely to be anywhere near as attractive as the TP amount, but curious to see what others had done
     
  2. Yoda-

    Yoda- Lead commenter

    I think you need to see what gets paid out if you die out of service as well. You will need to ask teacher pensions but as I remember it is not nothing (it may just be a lump sum). You may have less to insure than you thought but do check yourself....
     
    border_walker likes this.

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