Life insurance in divorce is a critically important topic.
If your ex will pay you any support, whether it is a child support or a spousal maintenance (the same as alimony), you want to make sure that he/she has a life insurance policy in effect which names you as the irrevocable beneficiary. The divorce agreement should describe this in detail, and safeguard you against his possible failure to make payments on the policy.
Here are a few important questions/issues that you should address when discussing life insurance in divorce:
Denisa Tova MBA, CFP, CDFA provides divorce financial expertise to divorcing individuals and mediation services. She is a Certified Divorce Financial Analyst, Certified Financial Planner and Mediator.
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