Estate planning – wills and insurance


While you’re reviewing your beneficiary designations for the CAAT Pension Plan, you might want to review your will and see if it’s up-to-date.

If you haven’t looked at it since your children turned 18, you might want to take the time to update it. Ensuring your will is up-to-date will help make sure your loved ones are protected when you’re gone. You do not need to name your CAAT Pension Plan beneficiary in your will. The CAAT Plan Change of Information or beneficiary form is the best way to ensure your beneficiary designation is carried out.

This is also a good time to look at your insurance needs. Consider all your policies – life, home, and auto. You might be eligible for seniors’ discounts.

When you retire, you’ll also be able to choose from a selection of health plans, enabling you to maintain drug coverage, and more. You arrange the selection of this health plan with your employer at retirement. It’s a good idea to assess your long-term health needs and determine which policy will work best for you. As these policies are entirely member paid, it’s also a good idea to get a costing from your HR department so you know how much you’ll be paying.