Four Insurance Policies Every Divorced Woman Needs
1. Life insurance on a spouse who is still paying child support or alimony. This is the most critical! If you are receiving child support or alimony rom your ex, you need to guarantee those payments continue. If your ex dies, he will obviously no longer be earning money or paying support! Getting a life insurance policy on his life, naming you and/or your kids as the beneficiaries, is an easy, and usually affordable, way to make sure that you have enough money to survive if something should happen to your ex. Not only should you make sure that your divorce judgment requires your ex to maintain life insurance with you and the kids as beneficiaries, but, you also need to make sure that, after your divorce is over, your ex actually gets and keeps that insurance in force!
2. Homeowners insurance. Just like car insurance, if you own your own home, you absolutely must have homeowner’s insurance. While you might not think you own anything that important or expensive, if you lost everything you own in a fire or other disaster, the cost of replacing it would likely be a whole lot more than what you could afford.
3. Disability insurance on you, and on your ex, if he is still paying child support or alimony. Unlike life insurance, which most courts are willing to order payor spouses to get to secure child support and maintenance payments, disability insurance is often overlooked, or not included in your divorce judgment because it is deemed too expensive and unnecessary. Sadly, if you or your ex gets seriously ill and can no longer work, having disability insurance can make the difference between being able to pay your bills and focus on your health, and struggling to survive.
Here is the hard truth: if your ex gets sick and can’t work, he is not going to be able to pay you child support unless this policy is in place.
4. Life insurance on your own life. You might think that if you were to die, your ex could support the kids perfectly well without you. Maybe he could. But, don’t devalue yourself, or the support you provide for your kids.
I recommend that my clients see State Farm Agent John Lite for all these insurance needs. He will make sure everything is correct for your legal judgment!
For more information about your business in your divorce, Call Certified Family Law Specialist Denise Lite (formerly Denise Placencio) at 877-317-8080 for more information.
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