Divorce insurance

[InterprovincialParents]

Originally Posted by blinkandimgone

Perhaps, but many life insurance policies for children have the option to roll the funds over to their post secondary education when they get there.

I know...I just meant that it is not purchased with thought of dread to the marriage...

[rszalai]

"Perhaps, but many life insurance policies for children have the option to roll the funds over to their post secondary education when they get there."

Sorry to hijack the thread, but what is this called or where I can buy it/read more about it? (divorce insurance is stupid idea I think.)

[blinkandimgone]

Hmm, I'm not sure what the plan is called. I tried to look it up online but the client page is unavailable right now. We got it through Clarica (now Sunlife). I'll see if I can find out what it's called.

[rszalai]

Thanks! I really appreciate your help!

[InterprovincialParents]

Originally Posted by dinkyface

OK really, so the insurance underwriter agrees that
You give me $X/month.
I'll give you $Y if you get divorced.

Then you 'cause' the divorce. Could be adultery, or could be choosing poker with buds over watching SoYouThinkYouCanDance with wife (just making a point on what means 'cause').

You think the underwriter is willing to pay out $Y?

That would be my issue as well...money grab for insurance agency. Heck, just put $25/month in a savings account for divorce!! Easier to get at if it happens!

[AnarX]

So long as the government refrains from forcing people to get divorce insurance, the model has a hope in hell of being beneficial.

The problem with most market "failure" in various insurance arises from the fact that coercive monopolies are enforced by the government -- as such, the suppliers are insulated from people who vote with their feet.

Originally Posted by rwm1273

If people are willing to buy this, then how committed are they to marriage in the first place?

Irrelevent if inlaws become the main customers.

[InterprovincialParents]

Originally Posted by AnarX

Irrelevent if inlaws become the main customers.

LOL...if my inlaws purchased it, I might just be peeved enough to divorce...what are they teaching their children??? And do I want to be married to THAT, my kids taught by THAT? No thanks...

[AnarX]

Originally Posted by InterprovincialParents

And do I want ...

Irrelevent if they buy it without your knowledge. The model still works!

[blinkandimgone]

I can just see this kind of thing adding to the financial issues during a divorce. If one spouse gets divorce insurance and they do divorce then how is the money split? Does it go to the paying spouse or is it split between the two because it was paid for out of the marital wallet? Does one spouse get more because they make less money? If the other person cheated or caused the divorce do they get less or none??

Blech - perhaps if the couple spent the money on date nights together they wouldn't need a divorce.

[mrsb]

To the original poster doing the research, I would not have purchased it. I am now re-married and even after going through a very expensive divorce from my first marriage I would not purchase it. It seems to be a bit of a cash grab as the premiums are very expensive to even give you the funds you need to cover a simple divorce never mind a long drawn out battle full of conflict. The money you would pay in premiums would be better served in a high interest savings account if indeed you were putting some aside "just in case". It is also a bit of a moral issue for me too.