Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Closed Thread
 
Thread Tools
  #1  
Old 09-24-2010, 04:34 PM
lbourg lbourg is offline
Junior Member
 
Join Date: Sep 2010
Posts: 1
lbourg is on a distinguished road
Default Divorce insurance

Hello,

I'm a freelance journalist based in Toronto, and I'm currently working on an article about the newly-available divorce insurance: Divorce Insurance: Getting a Payout After Marriage Ends - TIME

Basically, this insurance pays out just like any other insurance - you contribute a monthly fee, and if you get divorced after four years of marriage you earn a premium.

I'm trying to gauge interest in Canada, where it is now also available. Do you wish you had divorce insurance? Would it have made things easier? Or do you think it would have been a waste of time?

Thanks!
  #2  
Old 09-24-2010, 06:01 PM
blinkandimgone's Avatar
blinkandimgone blinkandimgone is offline
Moderator
 
Join Date: Feb 2010
Location: Lucknow
Posts: 5,406
blinkandimgone is a jewel in the roughblinkandimgone is a jewel in the roughblinkandimgone is a jewel in the rough
Default

No I wouldn't have been interested in it before, during or after my marriage. Waste of time, energy and money. I'd pay the money into my childrens' education before paying into something ridulous like divorce insurance. Another bright idea on how to take people's money from them - no thanks.
  #3  
Old 09-24-2010, 06:08 PM
rwm1273's Avatar
rwm1273 rwm1273 is offline
Senior Member
 
Join Date: Sep 2010
Location: Alberta, but would rather be in Africa.
Posts: 518
rwm1273 is an unknown quantity at this point
Default

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

It may be a good idea, and would have helped me, but I would never have been able to pay for it out of a moral objection.

What would be the premiums and the payouts? I was married for 10 months to my difficult ex, and have wasted over $200K in legal expenses in the past 7 years.

Are the funds valid for criminal as well as family law issues? How about just a lump sum to pay for debt or equalization payments?
  #4  
Old 09-24-2010, 06:13 PM
InterprovincialParents's Avatar
InterprovincialParents InterprovincialParents is offline
Senior Member
 
Join Date: Aug 2010
Location: Ontario
Posts: 908
InterprovincialParents is on a distinguished road
Send a message via MSN to InterprovincialParents
Default

I tend to think it is a good idea, depending on the cost...if it is like my life insurance, for which I pay under $25/month, that is affordable...as long as payout rates are enough to cover ALL legal and other fees and costs included with the divorce, and provide an immediate access to funds for costs from date of separation.
  #5  
Old 09-24-2010, 06:14 PM
InterprovincialParents's Avatar
InterprovincialParents InterprovincialParents is offline
Senior Member
 
Join Date: Aug 2010
Location: Ontario
Posts: 908
InterprovincialParents is on a distinguished road
Send a message via MSN to InterprovincialParents
Default

It is a bit like life insurance for children...you hope you never need it, but it is there if you do
  #6  
Old 09-24-2010, 06:15 PM
InterprovincialParents's Avatar
InterprovincialParents InterprovincialParents is offline
Senior Member
 
Join Date: Aug 2010
Location: Ontario
Posts: 908
InterprovincialParents is on a distinguished road
Send a message via MSN to InterprovincialParents
Default

Prenup costs less though
  #7  
Old 09-24-2010, 06:17 PM
InterprovincialParents's Avatar
InterprovincialParents InterprovincialParents is offline
Senior Member
 
Join Date: Aug 2010
Location: Ontario
Posts: 908
InterprovincialParents is on a distinguished road
Send a message via MSN to InterprovincialParents
Default

I just got screwed over by my insurance company on a break-in though, so I think it'd be pricey as hell, and a lot of rigamarole and hoop-jumping to settle a claim!!
  #8  
Old 09-24-2010, 06:18 PM
rwm1273's Avatar
rwm1273 rwm1273 is offline
Senior Member
 
Join Date: Sep 2010
Location: Alberta, but would rather be in Africa.
Posts: 518
rwm1273 is an unknown quantity at this point
Default

So long as the prenup is accepted by the courts. Recent court action is showing that the prenup may not be binding.
  #9  
Old 09-24-2010, 06:34 PM
dinkyface dinkyface is offline
Senior Member
 
Join Date: May 2009
Posts: 2,476
dinkyface will become famous soon enough
Default

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?
  #10  
Old 09-24-2010, 07:15 PM
blinkandimgone's Avatar
blinkandimgone blinkandimgone is offline
Moderator
 
Join Date: Feb 2010
Location: Lucknow
Posts: 5,406
blinkandimgone is a jewel in the roughblinkandimgone is a jewel in the roughblinkandimgone is a jewel in the rough
Default

Quote:
Originally Posted by InterprovincialParents View Post
It is a bit like life insurance for children...you hope you never need it, but it is there if you do
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.
Closed Thread

Tags
divorce, insurance


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Online divorce? ExWife2Many General Chat 10 08-12-2010 09:15 AM
Surviving Divorce FPI Divorce & Family Law 2 04-29-2009 08:56 PM
Help! My ex got a desk divorce, doesn't pay child support, I appealed - will it be OK Jane007 Divorce & Family Law 6 01-22-2009 08:06 AM
Confused - Need Help -30 Days Up TODivorce Divorce & Family Law 1 12-22-2006 09:04 AM
The Unexpected Legacy of Divorce: A 25 Year Landmark Study mom22galz Political Issues 2 06-30-2006 11:04 AM


All times are GMT -4. The time now is 06:18 AM.