Three things to think about with life admin

Some parts of life admin aren’t much fun to think about, but they can make a huge difference to you and the people you care about. Putting plans in place now means peace of mind later, knowing that your wishes are clear and your loved ones are protected.

Here are three areas worth taking the time to think about now:

1. Life insurance

Life insurance is designed to provide financial support to your dependants if you die. It can help cover mortgage payments, childcare costs, or simply give your family breathing space at a difficult time. Think about what cover you might need and how long for.

2. Wills

A will sets out what happens to your money, property and possessions after you die. Without one, the law decides who inherits what – sometimes in ways you might not expect. Making a will ensures your wishes are followed and can make things simpler for those left behind.

3. Expression of Wish forms

Your pension savings don’t automatically follow the instructions in your will. Instead, the Trustee looks at your Expression of Wish form when deciding who should receive your benefits. Keeping this form up to date is vital – especially after big life events like marriage, divorce or the arrival of children.

The good thing is, with your Citi Pension Plan you can get started with one of these straight away. Log in to MyCitiPension to complete or update your Expression of Wish form, as and when life changes.

If you want to know more about the life admin bits to put in place, visit MoneyHelper. There you’ll find free, impartial information about life insurance and making a will.