Whenever people think about safeguarding against potential financial downfall in the event of a Virginia divorce, the first thing that probably comes to mind is a prenuptial agreement. While this is still practiced today, new products and options are becoming available to divorcees all the time. This is because while no 2 individuals are the same, neither is a resulting divorce.
Everyone has different needs and concerns and new products and services are springing up all the time to address those worries. One such non-traditional approach to coping with the financial implications of divorce is the notion of divorce insurance.
A divorce can be trying in more ways than one, finances included, and divorce insurance seeks to offset those losses.
Here's how it works:
- you buy divorce insurance, up to 200 units (equals up to $250,000 in coverage);
- you pay a monthly rate for your insurance;
- after a 4-year waiting period, your policy will increase in value by $250 per unit; and
- once you are served with stamped divorce papers, you may submit your divorce claim.
While divorce insurance may be a viable option for some individuals concerned that a divorce is near, it doesn't always work for everyone, especially if you
left the workforce for the duration of the marriage, and don't have income of your own. In addition, divorce insurance is really only beneficial if you purchase it well in advance of any possible divorce.
To figure out the
non-traditional approaches to coping with Virginia divorce that may work for you, you'll want to discuss your situation with a Newport News divorce lawyer.
Contacting a Newport News Divorce Lawyer
Throughout your divorce proceedings, you'll naturally have a lot of questions specific to your circumstances. Get your questions answered by
requesting one of our FREE divorce guides for women, or
reserving your seat at our monthly divorce seminar - 757-425-5200.
The Newport News divorce lawyers at Hofheimer/Ferrebee are committed to fighting for your rights, assisting in child custody disputes, and advocating that you receive everything you are entitled to and need in order to start your new life.
Category: Divorce
To reply to this message, enter your reply in the box labeled "Message", hit "Post Message."
Subscribe to our mailing list and receive tips, articles, and information to help you get your life back on track after the divorce. 
What Every Virginia Woman Should Know About Divorce is full of thoughtful steps and practical tips that will help you during your separation, divorce, or child custody case including:
Technology and Divorce ...