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FIRE SERVICE AND GENERAL FIRE SAFETY TOPICS => General Interest => Topic started by: The Colonel on March 22, 2017, 11:44:18 PM

Title: Retirement and insurance
Post by: The Colonel on March 22, 2017, 11:44:18 PM: Has anyone looked into or given any thought to any insurance cover they may need when retirement looms and us risk assessors and consultants want to feel secure. Currently public liability and professional indemnity insurances are taken out by most of us just in case, what happens when we want to retire, do we need any insurance cover or do you stop paying when we finish.

Any thoughts or info around.
Title: Re: Retirement and insurance
Post by: Mike Buckley on March 23, 2017, 01:01:13 PM: Suggest you look at the topic "Run off Insurance" in this heading.
Title: Re: Retirement and insurance
Post by: colin todd on March 25, 2017, 11:34:00 PM: Corporal, please say you are not retiring.
Title: Re: Retirement and insurance
Post by: The Colonel on March 27, 2017, 04:41:21 PM: Mike, Thanks should have looked before posting, thanks.

Colin, you have got to prepare for such things even you can't go on for ever or can you!!!!
Title: Re: Retirement and insurance
Post by: colin todd on March 28, 2017, 07:48:55 PM: Corporal, when my divorce (to the former Mrs Todd), was completed the solicitors wrote to me asking if I wanted them to do my will. I tell you, Corporal, what I told them, namely thank you for your interest in my impending death, but, as I intend to live forever, I shall not be requiring your services.
Title: Re: Retirement and insurance
Post by: nearlythere on March 31, 2017, 06:18:41 PM: I did a little research on this Colonel and as the immortal Dot said you need to look at run off insurance. From what I gather you should protect yourself for 6 years after you retire. I also gather the annual premiums would start at around that what you are paying reducing as you go through your run down period.

Some people I've talked to about this have said they are just going to stop paying insurance as soon ask they stop working. Not wise I would think. Someone else thought his insurance would cover for the work undertaken within that insurance period year. Once you stop paying general insurance your general insurance stops paying for what you have done.
Title: Re: Retirement and insurance
Post by: colin todd on March 31, 2017, 11:28:31 PM: Oh no, are you going as well Almost?
Title: Re: Retirement and insurance
Post by: nearlythere on April 28, 2017, 06:07:49 AM: Quote from: colin todd on March 31, 2017, 11:28:31 PM
Oh no, are you going as well Almost?

I have a run down plan Dot. Time to get the bucket list out.
Title: Re: Retirement and insurance
Post by: colin todd on April 28, 2017, 06:05:11 PM: Is a farewell drink with me in Benedicts on the list, Almost.
Title: Re: Retirement and insurance
Post by: nearlythere on October 25, 2017, 08:42:30 AM: Quote from: colin todd on April 28, 2017, 06:05:11 PM
Is a farewell drink with me in Benedicts on the list, Almost.
I couldn't afford to ply you with drink Dot.
Title: Re: Retirement and insurance
Post by: colin todd on October 25, 2017, 08:14:16 PM: You are so mean.
Title: Re: Retirement and insurance
Post by: nearlythere on October 25, 2017, 08:52:15 PM: Quote from: colin todd on October 25, 2017, 08:14:16 PM
You are so mean.
Perhaps if you were more Presbyterian it would be cheaper.
Title: Re: Retirement and insurance
Post by: colin todd on October 25, 2017, 11:00:18 PM: I didn't get that. Must be too obscure for me.