Thread by @AlannaCollen

From my crappy position of widowed wisdom, I offer you these six life insurance tips:

#planif
1/9 @Ben_Collen @CBNtweets

1. Check out what your death in service benefits from work are, & bear in mind that retirement on health grounds may be a better financial option if terminally ill. I discovered this in the final days of Ben's life & I really don't recommend that timing.

#planif
2/9 @Ben_Collen

2. Do not rely on your death in service benefits from work! You need private life insurance too - just in case you lose your job/change jobs and forget about it.

#planif
3/9 @Ben_Collen

3. You *both* need life insurance! Even if you don't earn, your partner needs you to have life insurance. Who's paying for childcare? For household chores? For time to grieve? For a change in circumstances/location? Believe me, you'll want back-up.

#Planif
4/9 @Ben_Collen

4. Work out honestly what you need, then double or triple it. The extra payments are worth it, and life costs a lot more when there's only one of you running a family and a home.

#planif
5/9 @Ben_Collen

5a. Think carefully about which type of life insurance to get. Reducing seems great when you get a mortgage but it's very unlikely to be enough, especially if you're hoping to upsize at some point. Joint seems smart, but then you need to reorganise...

#planif
6/9 @Ben_Collen

5b. ...immediately after if one parent dies. Whole life is more expensive but a guaranteed pay out. See an IFA if you're not sure - many will get life insurance for you without a fee as they earn commission on it.

#planif
7/9 @Ben_Collen

6. Most important: Do it this week!!! Life insurance is the ultimate gift to your partner and your children. Grief is hard enough without money worries.

#planif
8/9 @Ben_Collen

If you're working on your #planif and thinking about life insurance, check out:

planif.org.uk/1135

and follow the links there for further advice.

With love x

9/9 @Ben_Collen