Retirement and insurance

[The Colonel]

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.

[Mike Buckley]

Suggest you look at the topic "Run off Insurance" in this heading.

[colin todd]

Corporal, please say you are not retiring.

[The Colonel]

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!!!!

[colin todd]

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.

[nearlythere]

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.

[colin todd]

Oh no, are you going as well Almost?

[nearlythere]

Oh no, are you going as well Almost?

I have a run down plan Dot. Time to get the bucket list out.

[colin todd]

Is a farewell drink with me in Benedicts on the list, Almost.

[nearlythere]

Is a farewell drink with me in Benedicts on the list, Almost.

I couldn't afford to ply you with drink Dot.

[colin todd]

You are so mean.

[nearlythere]

You are so mean.

Perhaps if you were more Presbyterian it would be cheaper.

[colin todd]

I didn't get that.  Must be too obscure for me.