Life Insurance Following Divorce

If you’re going through a divorce and have custody of your children, you may also be receiving child
support payments to help provide the necessities they need and deserve. But what happens when the person
paying the child support dies? If your ex-spouse dies, you may be in a bad position to continue caring
for your children. Fortunately, you can have a safety net included in the terms of your divorce which
will provide money for your children should the unthinkable happen.

Following a divorce, it’s not uncommon for the divorce documents to be written so that the spouse who
makes the child support payments has to take out a life insurance policy which will provide for the
children in the event of the death of that parent.

The duration of the life insurance policy depends on what the insurance is being taken out for. If the
policy is specifically to ensure that the children have money until they come of age, the policy can
be canceled after they reach the age of 18. Some policies are taken out to allow the spouse receiving
alimony to continue to have money to live off of if the spouse paying the money were to die. In this
case, the policy would remain in effect for the duration of that spouse’s life.

Contact Us

If you or someone you love is going through a divorce and has concerns about the future of the children
involved, contact the West Palm Beach divorce attorneys of Eric N. Klein & Associates, P.A. by calling
561-353-2800 today.