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Divorce Insurance

Posted By Attorney Jim Cairns || 23-Jul-2012

Divorce is on the rise worldwide and has resulted in substantial personal economic changes, at times ending in bankruptcy or poverty. One of the solutions that came out on the modern market is divorce insurance. There has only been one company worldwide which has offered a financial safety-net in case of divorce, known as WedLock Divorce Insurance.

They way it worked was through selling units. For a monthly payment of $15.99 you would get $1,250 in coverage. This would mean if you bought five units of insurance each month you were entitled to receive $6,250. In addition, each year the policyholder would get an additional $250 for each unit of divorce insurance they had purchased. There was a maturity clause of forty-eight months of being an insurance holder before you could cash in.

Divorce insurance isn't new to world history. During the Elizabethan times people of the upper-classes weren't marrying for love, marriage was looked at as a business arrangement. Also, society placed certain factors into practice so people would not hastily get married when they were too young. Lengthy apprenticeships was one method used to delay marriage and make sure people were financially independent beforehand. For the fortunate few, an inheritance at a certain age would also meet the economic requirements of the time, allowing them to then marry.

Don't worry if you feel like you missed out. Currently, there are no insurance companies which offer a divorce policy. The private Utah based company, Prime Insurance Company (which offered WedLock Divorce Insurance), has since stopped offering new policies. Currently, they are looking for underwriters so they can re-launch the service.

If you are concerned about budgeting for your divorce read about How To Budget for Divorce. Also, Job Hunting for the Newly Divorced will get you back on track for a new job.

With an uncontested divorce you are keeping costs down by skipping the expensive drama of court battles. Once you are ready to file for an uncontested divorce contact Attorney James Cairns for a free initial consultation at 888.8636.9115. For an immediate free virtual consultation click on DIVORCE WIZARD. The Divorce Wizard will analyze and qualify your case for an online Pennsylvania divorce, calculate your legal fees, and file your case immediately. It's just like sitting in our office for a free consultation. Also, read our client testimonials and Avvo reviews to see what our clients think of our services.