Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Does A Divorce Decree Nullify A Life Insurance Policy

A divorce can change a lot of things, but it doesn’t nullify a life insurance policy. In fact, a life insurance policy doesn’t change at all if a person gets divorced.

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As long as the bill is paid each month the policy continues on as usual and, if the insured person dies, whoever is named as the beneficiary will receive the life insurance benefit.

What to Do if You Get a Divorce

What you do after a divorce largely depends on your situation. In many cases, you are going to want to change your beneficiary on your life insurance policy. Unfortunately, this is something that many formally married couples overlook simply because dying isn’t the foremost thing on their mind either during or after a legal divorce, even if they continue to pay their life insurance premium.

If the life insurance is purchased through work rather than directly from the insurance company, it is possible that a divorced couple won’t change the name unless they actually think about adding another person as a beneficiary.

Making a change is easy is easy to do, all you have to do is get in touch with your insurance agent and ask him or her to prepare the paperwork for you to change the beneficiary on your policy. You will have to sign the paperwork, which can be done by printing out the forms at home, faxing the document and then sending the original to your agent or you can visit your agent in person to take care of this matter.

If you have children, you may want to reconsider changing the beneficiary or change the beneficiary to a trust that is specifically set up to provide for your children should you die before they reach a certain age. You don’t want to name a minor as a beneficiary. The reason for this is that in many states a minor cannot receive an insurance benefit.

The insurance company or the state holds the money until the minor reaches the age of 18. This means that the money that you leave behind cannot be used to help raise your children or provide for them.

If you have a good relationship with your ex, or you are certain that their priority is the children, then the easiest way to ensure that the insurance benefit actually benefits your children is to allow your ex to remain as your beneficiary. Even if you remarry it is likely that your ex will get full custody of the children as they are the blood parent; keep that in mind if you want your children to benefit the most from your life insurance.

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What to do if Your Ex Changes the Beneficiary on Their Policy

Most couples, if they choose to purchase a life insurance policy, will name each other as the beneficiary of the policy. When children are involved this is always a good idea.

But, what do you do if, after your divorce, your spouse removes you as the beneficiary and names someone else? If you depend on your ex for alimony and your children are relatively young, then you may want to consider purchasing another life insurance policy on your former spouse and naming yourself as the beneficiary.

Is this legal? Absolutely, yes! There is a caveat, however, and that is that you cannot purchase life insurance on an adult without their express permission. This means that you will have to approach your ex with this proposition and have him or her agree to the life insurance policy.

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There could be an exception, however, but it will really depend on your insurance company and how they view your situation. There is something called insurable interest; this basically means that you have a vested interest in the person that you want to insure.

In this case, the insurable interest would be the fact that your ex is paying child support and possibly even alimony. The more you depend on that money for your survival or the welfare of your children the more likely the insurance company will allow you to purchase an insurance policy without the permission of your spouse.

Once catch, however, is that many policy types require a medical exam, which obviously would require the knowledge of your ex and could create a potential problem.

When you take out an insurance policy on your ex you are going to be financially responsible for the premium payments and your ex can’t change the policy or demand that you cancel the policy for any reason. Basically, once the policy is started it is yours for as long as you want it.

The other alternative is for you to ask your ex to sign over his or her existing policy to your name. What this means is that they are still the insured person, but you become the policy owner. This is a simple process and can be taken care of in just a few minutes time. Just like when you purchase a new policy, once your ex signs over the policy they cannot get the policy back because it belongs to you.

Getting the Most Coverage for Your Money

As with everything that you purchase, you probably want to get the best deal possible and a life insurance policy is no different. To do that you probably will want to shop around, visit different websites to compare products, ask friends or family what they think and whatever else you might do to get the best deal that you can.

You aren’t going to pay the same price when you purchase from State Farm as you would from Prudential or any other company for that matter and it is important that you know the differences between companies so that you can get the best price.

Using the free life insurance quotes tool will put you on the fast track to finding the lowest price possible for life insurance. You only have to answer a series of questions a single time, submit it and you will get the quotes that you need. You can compare quotes for both term and whole life options, giving you a clear idea of which option best suits your situation and the amount of money these particular forms of like insurance policies will cost you.

It is very important that you answer the questions as precisely as possible, especially about your health, in order to get the most accurate quote possible. The reason for this is that in most cases you are going to have to submit to a physical exam and some blood tests before you can officially purchase a life insurance policy. If you answered the questions correctly and your physical bears that out, then your quote will be right on.

You will find that this method of getting quotes is easy and fast and will provide you with quotes for reputable companies that you can feel comfortable making a life insurance purchase from.

Click on the link at the top of the page and get started on your path to finding the best price for life insurance. You are under no obligation to buy and you will know how much you can expect to pay for the kind of life insurance that you want to buy.

Enter your zip code and compare life insurance rates today!