Pensions

stecon

Is it better to put more money into my pension or get a life insurance policy?

moneysavinghero

depends whether you ever want to see that money yourself or just leave it to someone else

eskbanker

It's better to put more effort into asking meaningful questions with sensible amounts of information - for a start, what is it that you're trying to achieve as your two options don't seem obvious alternatives for each other?

Zanderman

Better for what? 

And for whom?

Life insurance pays out if you die.

Pensions pay out if you live. (and may pay out if you die as well, though that depends on the pension)

Pensions get tax relief.

Life insurance does not.

MaxiRobriguez

That's a bit like asking is a better to eat healthily or enjoy your hobbies.

Pension funds your retirement, if you live. Life insurance funds your family, if you die. Ideally you'd have both.

If you absolutely must pick, then choose the pension, as 4/5 people make it to pension age, and if you've funded your pension well for a number of years then if you did die early on in pension life then the sum your family inherits would likely be larger than a life insurance payout.

dunstonh

Is it better to put more money into my pension or get a life insurance policy?

Pensions are a tax wrapper.  life assurance can be a tax wrapper. Although I am surprised you realise that as nowadays, most people dont know that the life assurance wrapper still exists.     Out of interest, why have you narrowed it to those two tax wrappers and not included others, like ISA?

I have assumed you meant the life assurance tax wrapper as this is the investments section.   Whereas a pure life assurance would not have any investment element.