Divorce complicates everything. That isn’t news to anyone who has ever faced the stress of reconstructing the life of a family, often two, and sometimes three. So it shouldn’t be surprising that divorce has significant ramifications on your life insurance policies and needs.
Case Study 1: Joe and Laura – Treatment of Existing Life Insurance During Divorce
Joe and Laura have three children in their tweens when they get divorced. Joe has existing life insurance in force with Laura as the beneficiary. There are no contingent beneficiaries on the policy. Laura remarries, adopts her new husband’s two children and has an additional child with her new husband. Read more »