Divorce Insurance????

As the day draws nearer and the excitement builds you look at your almost-spouse with thoughts of future dreams and the knowledge that you can conquer whatever the world throws at you with this person by your side, right?  But there is also this little thought which you repress….”What if it doesn’t work?”.  Right, again?  But you probably aren’t thinking about divorce insurance right now are you? When there is a disparity of wealth between you and your partner divorce insurance might be a wonderful resolve to exposed risk.  The wealthier of the two of you is exposed to ‘lose’ assets to their partner and the less wealthy is exposed to having less time to recover their status with fewer earning potential years once the ink is dry on the separation agreement. Sure domestic contracts and marriage contracts can set some parameters for agreement before the date of wedded bliss but that certainly doesn’t protect the less fortunate of the two of you from financial disaster. Developed in 2005 by John A. Logan, Chairman and CEO of SafeGuard Guaranty Corporation divorce insurance was created due to the CEO’s own divorce experience.  The elimination period or ‘waiting period’ is lengthy and can be as long as 48 months.  I can certainly see couples staying together to ensure that this time is satisfied.  No longer will marriages be compromised for the sake of the kids alone. Since it’s inception SafeGuard Guaranty Corporation has pulled the plug on this nuptial dream solution but hopes to bring it back into its fold once an appropriate underwriter is found.  In the mean time Yangguang Life Insurance Company in China is reported to offer this solution and Divorce Cover Ltd in the UK is not only offering divorce insurance but also it offers a “Divorce Probability Test” in which it ascertains that it can tell if you are a ‘divorce-ready’ person, married or not even in a relationship, within a 87% accuracy. Here is the link http://www.divorceprobability.com/ Looks like Canadians may have to wait for this viable solution to dawn their doorstep but there does seem to be a need for it.  In the interim, there are other solutions available to those who lie in wait based on individual circumstances.  Your Financial Planner should have several solutions to offer.

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