Divorce Life Insurance Nevada NV
Reader’s Question:
My husband and I went through a divorce last month in Las Vegas, Nevada and I was wondering how do I protect my life insurance policy while going through a divorce?
John
Las Vegas, Nevada
John you usually buy life insurance to protect your family from any financial loss after your death. Your life insurance in Nevada will help your family to be able to recuperate from the loss of income, pay off any debts, let children through school and cover any other financial obligations.
But what happens to life insurance when you’re about to get divorced? The following are the things you need to consider:
- Your life insurance agent or company in Nevada should know about your circumstances. If you don’t change your beneficiary, your former wife may receive the income of your policy after your death. If the beneficiary simply reads “wife of the insured,” and there is no new wife, the secondary beneficiary maybe your son or daughter shall receives the benefits.
- You are capable to transfer ownership rights of the policy as component of a property settlement between you and your wife or to guarantee the keeping on of alimony payments. Your ex-wife may not ask for more support or a greater slice of an ongoing pension if he or she remains the assigned life insurance beneficiary on a permanent life insurance policy.
- Do not fail to see the possibilities that life insurance may give benefits for dealing with children from your old marriage. If you’re paying child support to your ex-wife and have a second family with your new wife, it is possible that the adult children from your first marriage may sue your property after you’re death if they believe that they were not treated fairly as the children from your succeeding marriage.
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