1. What insurance issues should I be concerned with during divorce proceedings?

There are several issues. First of all, just as with any other property, you need to determine who will be the owner of your various insurance policies. Secondly, if both spouses and child(ren) are covered under a group health plan, how will both spouses and child(ren) be covered after the divorce? Thirdly, consider what will happen to the income from the support order or alimony if the provider should die.

2. Why is ownership of the insurance policies important?

The owner controls the policy and has the right to name the beneficiaries. For instance, your spouse may be the current owner of a life insurance policy that has you named as the beneficiary. This means that your spouse could change the beneficiary at any time, contrary to what you might desire or need.

3. If my child(ren) and I are currently covered under my spouse's group health plan, what are my options after divorce?

Divorce is a qualifying event for benefits under COBRA, so named after the act of Congress that created it. But, this is just an interim measure. Ask your attorney whether the divorce settlement can include a provision for health insurance, especially if either spouse can provide it at a reasonable cost through group coverage. Finally, you may need to purchase additional health coverage to protect yourself and your child(ren).

4. What will happen to the income from the support order or alimony if the provider should die?

You should ask your attorney whether the divorce settlement will include a provision for life insurance on the provider, to protect the support order or alimony. If not, you might consider purchasing such a policy yourself.

5. How much life insurance is needed to protect the support order or alimony?

We have provided a life insurance calculator to assist you in this regard.

6. How much does life insurance cost?

We have provided a life insurance estimator to assist you in this regard.

7. What health considerations are important in buying life insurance?

Your personal and family health history are big factors in determining the rate class under which you can purchase life insurance. Many sites only quote the rates for the healthiest people, but this can be misleading. Follow this link to obtain life insurance quotes that consider your underwriting profile.

8. If I need to purchase life insurance, which companies have the cheapest rates?

See this independent survey of competitive term life insurance companies.

9. If I need to purchase health insurance, how do I get started?

You can find out more about health insurance, and apply online through this resource.