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ont2005 01-04-2006 08:54 AM

life insurance
 
My x spouse has a seperation agreement that we have
life insurance from his work for the children. It turns out
that he is no longer working at the same place and the new
work place doesn't carry life insurance. I looked at the agreement and it
does say life insurance from work , (not individual) what happens
now?
I dont want the costs of enforcing another policy etc.

Lindsay 01-04-2006 10:25 AM

Hi ont2005,

Most separation agreements will have a clause under the life insurance section that stipulates that if life insurance is no longer available to the child support payor through employment, he/she is to immediately obtain replacement coverage at a reasonable cost.

If that is not in your agreement, you may want to try discussing the matter with your ex. Clearly life insurance is for the benefit of the children, so hopefully he will see this and agree to obtaining life insurance outside of his employment. If this happens, you and your ex spouse should execute an amending agreement outlining the details of the new policy.

Lindsay

ont2005 01-04-2006 12:33 PM

It doesn't say life insurance in general , it is insurance thru the
work place

He may give me a hard time about it,

I will try to speak to him , highly unlikely he will go out and get
insurance privately .

logicalvelocity 01-04-2006 05:00 PM

Ont,

Not sure of the terms of your separation agreement, but was this meant to be dental and extended health benefit and or life insurance in general.


You may want to point out to your ex that support orders in Ontario bind estates unless otherwise stated. I suspect that if your separation agreement is silent on support on death of the payer, I would think the law would prevail.
Depends on the language used in your separation agreement.

as listed in the Family Law Act R.S.0 1990

Section 34 subsection 4

Support order binds estate

(4) An order for support binds the estate of the person having the support obligation unless the order provides otherwise. R.S.O. 1990, c. F.3, s. 34 (4).


Relevent statute can be found here

http://www.e-laws.gov.on.ca/DBLaws/S...f03_e.htm#BK32

Chopper 04-07-2006 09:13 PM

Life insurance
 
I have a question.
In terms of the ex husband requiring to obtain and maintain life insurance and naming the ex wife as beneficiary in the event that the something were to happen.
Is the ex wife required to obtain and maintain life insurance naming the ex husband the beneficiary as well?
In the event that something unfortunate were to happen this should be reciprocated......shouldn't it?
This too would be in the best interest of the children.....yes/no?

Thanks
Chopper

Jenny 04-08-2006 07:22 AM

Usually when life insurance is through work some mention of another policy is usually mentioned in case that isn't available.

As Logical pointed out it binds to the estate - but sometimes there isn't much of an estate left.

You also have the option of buying a policy against his life on your own. Since you have an interest in his death... .hmmm... didn't mean it like that- :D you know what I mean

Chopper- you can have it written in the agreement but it usually just ends up on the payor because that order survives death and with the other parent there isn't an order to enforce.

It makes sense to insure the life of both parents. Even in intact marriages where you have a stay at home parent. Think the parent left behind will be stuck with all sorts of expenses of child care and stuff.

Jeff 04-10-2006 01:23 PM

Quote:

Originally Posted by Chopper
I have a question.
In terms of the ex husband requiring to obtain and maintain life insurance and naming the ex wife as beneficiary in the event that the something were to happen.
Is the ex wife required to obtain and maintain life insurance naming the ex husband the beneficiary as well?
In the event that something unfortunate were to happen this should be reciprocated......shouldn't it?
This too would be in the best interest of the children.....yes/no?

Thanks
Chopper

If the life insurance is to secure the future support of the children, it's common that both parents are required to obtain life insurance. This will depend on each parent's financial circumstances, children's age and how expensive the life insurance is (e.g. if you're on welfare, have diabetes and your child is 17, you probably won't be required to get life insurance).


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