Posts Tagged ‘Divorce’

Divorce Insurance – Would you dare to propose that to your spouse?

August 11, 2010 Leave a comment

Safeguard Guaranty Corp. has designed a new insurance plan called ‘WedLock’. Wedlock is considered a form of casualty insurance that is designed to protect you against the financial hardships that come with divorce including legal fees and relocation to a new home.

Wedlock insurance is sold in “units”. Each unit provides $1,250 and costs $15.99 monthly. Suppose you’d like to start with $12,500 dollars of coverage, you’d have to buy 10 units and would then have to pay $159.90 monthly! Each year you successfully remain married, Safeguard Guaranty Corp. will add $250 to your coverage. It almost seems more logical to take $159 and put it in a savings account every month, earn interest, and go on a vacation with your spouse when you never get a divorce!

If you’re not sure whether you should purchase divorce insurance, don’t fret – Safeguard Guaranty Corp. has developed tools, specifically calculators, that can calculate how likely you are to get a divorce and how expensive your divorce will most likely cost. Wow – maybe all couples should use these calculators before they get married – that would probably end the need for divorces!

*Al Bourdeau Insurance Agency does not offer Divorce Insurance.