Life Insurance to Cover Child Maintenance Payments
Life Insurance to Cover Child Maintenance Payments When a relationship ends and children are involved, child maintenance becomes one of the most important financial commitments in a family’s life. It provides for school uniforms, food, heating, childcare, and the hundred other costs that go into raising a child. It arrives every month, like clockwork or […]
Changing Life Insurance Beneficiary After Divorce
Changing Life Insurance Beneficiary After Divorce When a marriage ends, there is a great deal of financial administration to get through and somewhere in that long list, changing the beneficiary on a life insurance policy often gets overlooked. It is easy to understand why. By the time the final order is granted and the practical […]
Life Insurance After Divorce if Your Health Has Changed
Life Insurance After Divorce if Your Health Has Changed Divorce is one of the most stressful experiences a person can go through, and it takes a real toll not just emotionally but physically too. Research consistently links separation to increased rates of anxiety, depression, and related health conditions, with one UK survey by Slater and […]
Life Insurance Checklist After Divorce
Life Insurance Checklist After Divorce Divorce involves an enormous amount of financial administration and life insurance is one of the areas most commonly pushed to the back of the queue. With over 100,000 divorces granted in England and Wales in 2023, and research from Legal & General showing that nearly 900,000 divorced individuals have not […]
What Happens to Mortgage Life Insurance After Divorce?
What Happens to Mortgage Life Insurance After Divorce? When a couple buys a home together, taking out life insurance to protect the mortgage is one of the most straightforward financial decisions they can make. But when that relationship ends, what happens to the policy tied to it is anything but straightforward. With over 100,000 divorces […]
What Happens to Life Insurance Written in Trust After Divorce?
What Happens to Life Insurance Written in Trust After Divorce? When you write a life insurance policy in trust, you are placing it into a legal arrangement that sits outside your estate. This means that when you die, the payout goes directly to your chosen beneficiaries rather than into your estate to be distributed through […]
How Long Do I Have to Use the Separation Benefit?
How Long Do I Have to Use the Separation Benefit? If you’re going through a divorce or separation, you may have heard the term “separation benefit” mentioned in relation to your life insurance. It’s one of the most useful features available on joint life insurance policies but it comes with a time limit, and missing […]
Does Divorce Affect My Life Insurance Premiums?
Does Divorce Affect My Life Insurance Premiums? The good news is that divorce itself doesn’t automatically send your premiums soaring, but your circumstances may have changed in ways that are worth reviewing. Does Getting Divorced Change What I Pay? Divorce, as a legal event, is not a factor that insurers use to assess your premiums. […]
What If My Ex Refuses to Agree to Changes to the Joint Policy?
What If My Ex Refuses to Agree to Changes to the Joint Policy? Splitting up is complicated enough without the added frustration of a joint insurance policy standing in the way of moving on. Whether it’s a joint home insurance policy, a car insurance policy, or a life insurance policy, what happens when your ex […]
Life Insurance During Divorce
Can I Take Out a New Life Insurance Policy During a Divorce? Yes you can apply for life insurance at any point during the divorce process, and there’s nothing about your situation that should prevent you from getting cover in place. Insurers base their decisions on factors like your age, health, and lifestyle; your marital […]