Roncone Law Offices, P.C.
Call Our Attorneys:
978-401-0825 | 877-261-4389
Menu Contact

Life and health insurance needs should be reviewed during divorce

Probably any divorcing Massachusetts couple will attest to the fact that once the decision to split has been made, everyone involved begins a process that is often lengthy, stressful and fraught with challenges. During this difficult period, with all the issues that must be considered, people sometimes overlook important areas that will change with the divorce, such as insurance coverage. Divorcing individuals should be sure to review all insurance policies and prepare for any changes that will happen with the change in their marital status.

Regarding health insurance, often one spouse carries an employer-sponsored health plan through work that also covers the other spouse. Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), individuals can continue coverage they've received through their ex-spouse's employer insurance plan for up to three years. However, since this is a short-term solution, a divorcing person in this position is wise to explore other health insurance options if the individual does not have access to his or her own employer-sponsored insurance. The Affordable Care Act has opened up more affordable health insurance options for such situations.

Divorcing individuals also need to review life insurance needs before the divorce is finalized. If spousal support is part of the divorce agreement, and the payer dies, the person receiving the support will lose that stream of income, unless the payer carries a life insurance policy. In some cases, the divorce agreement will require the payer to carry life insurance. In this case, to protect individual interests, ideally, the person receiving the support should retain the policy in his or her name and make regular payments on it. Finally, divorcing individuals are wise to finalize all life insurance needs before the divorce is final, so that any necessary adjustments can be made to the agreement.

Many people who are just beginning or are in the midst of dissolving their union may find the task of considering insurance needs and sorting through options daunting. However, as with all the difficult considerations required during this time, they will likely appreciate the long-term benefits of making thoughtful decisions now. Many people in this position seek help from a professional skilled in this area. As well, most divorcing couples find all aspects of the divorce process easier to navigate with the assistance of a Massachusetts family law attorney.

No Comments

Leave a comment
Comment Information

What Clients and Peers Are Saying ...

"Please take my word for it, this is the attorney that you want on your side and certainly not the one that you want against you.”

John
Email Us For A Response

Contact Us For A Free Initial Phone Consultation

Tell us about the type of case you are faced with. We'll tell you how we can help. Call us at 877-261-4389 or send us an e-mail to speak with a Leominster and Worcester area personal injury attorney, family law, or criminal defense lawyer today.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Roncone Law Offices, P.C.

142 Main Street
Leominster, MA 01453

Toll Free: 877-261-4389
Phone: 978-401-0825
Fax: 978-840-6000
Map & Directions