Life Insurance in Divorce: What Every Couple Should Know

life insurance and divorce

Table of Contents

Court ordered life insurance divorce, what does it mean?Ken Maynard CDFA, Acc.FM2023-08-28T11:06:53-04:00

Court-ordered life insurance in a divorce means the court mandates one party to maintain a life insurance policy, usually to secure financial obligations. Before taking action, consult a divorce mediator or financial analyst.

What happens to joint life insurance after divorce?Ken Maynard CDFA, Acc.FM2023-08-28T11:03:58-04:00

After divorce, joint life insurance policies might need adjustments in terms of beneficiaries and ownership. Consult a divorce mediator or a certified divorce financial analyst for guidance.

Can you get life insurance on an ex-spouse?Ken Maynard CDFA, Acc.FM2023-08-28T11:02:54-04:00

Yes, you can get life insurance on an ex-spouse, especially if there are financial obligations like child support. Always consult a divorce mediator or financial analyst before taking out such policies.

Can my husband remove me from his life insurance?Ken Maynard CDFA, Acc.FM2023-08-28T11:01:39-04:00

Yes, a policyholder can change beneficiaries, but there might be legal implications during divorce proceedings. Before making any decisions, consult a divorce mediator or a certified divorce financial analyst.

How could divorce affect life insurance?Ken Maynard CDFA, Acc.FM2023-08-28T11:00:39-04:00

Divorce can impact life insurance in terms of beneficiaries, policy ownership, and premium payments. Before making any changes, consult a divorce mediator or a certified divorce financial analyst.

Is life insurance still valid after divorce?Ken Maynard CDFA, Acc.FM2023-08-28T10:59:14-04:00

Yes, life insurance remains valid after divorce. However, beneficiaries and other terms might need to be reviewed. Always consult a divorce mediator or financial analyst before making changes.

Is a life insurance policy a marital asset?Ken Maynard CDFA, Acc.FM2023-08-28T10:58:26-04:00

Yes, a life insurance policy can be considered a marital asset. Before making any decisions, it’s essential to seek guidance from a divorce mediator or a certified divorce financial analyst

Can you keep life insurance after divorce?Ken Maynard CDFA, Acc.FM2023-08-28T10:56:45-04:00

Yes, you can retain your life insurance after divorce. However, it’s essential to review the policy terms and beneficiaries. Before making decisions, consult a divorce mediator or a certified divorce financial analyst.

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About the Author:
Ken Maynard CDFA, Acc.FM

I assist intelligent and successful couples in crafting rapid, custom separation agreements that pave the way for a smooth transition towards a secure future. This efficient process is achieved in about four meetings, effectively sidestepping the excessive conflicts, confusion, and costs commonly linked to legal proceedings. Clients have the flexibility to collaborate with me either via video conference or in-person through a DTSW associate at any of our six Greater Toronto mediation centers, located in Aurora, Barrie, North York, Vaughan, Mississauga, and Scarborough.

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Ken Maynard CDFA, Acc.FM2024-04-27T20:33:03-04:00