Life Insurance policies, personal or joint, term or permanent, as well as extended family health plans, can all be impacted by separation and divorce. It’s important for couples undergoing this legal transition to understand the implications that separation and divorce can have on your ex-spouse and your children. Make informed financial decisions.
Separation and divorce often require selling the matrimonial home and purchasing a new home, townhouse or condo, or renting an apartment, as an individual. Term Life and Mortgage Insurance, obtained through a Life Insurance carrier as opposed to a lending institution, has many benefits and is usually less costly. With many banks or lending institutions, the premiums usually remain fixed while the total amount of insurance payable decreases. Banks or lending institutions control the policy and where the proceeds go. With personal Life Insurance you control your policy and where the benefit goes, should it be needed.
An experienced Insurance Advisor can help educate and advise you regarding the options available. It is important to sift through the information with a financial professional to decide what’s best for you, your ex-family and possibly your new family going forward.
When Children Do Well, Parents Do Well
When Parents Do Well, Children Do Well
