Four Crucial Divorcee Insurance Policy Types Belong to Homemakers
Do you know that there’s insurance policy for everyone? Literally, everyone. There is insurance policy for married couples, for those living together, for kids, for seniors, and even there is divorcee insurance policy. Nobody wants to know about this insurance policy because no one wants to get divorced. But if you are getting divorced or you are already a divorcee, you’re going to need our details here.
There are at least four different types of insurance policy all divorcees must know. What are those four different insurance policies perfect for divorcees? Keep reading and pick the right one that suits you the most.
Truly Helpful Divorcee Insurance Policy Especially for Widows
1. Trauma insurance policy also known as living insurance policy
Trauma insurance policy will provide lump sum payment especially for those suffering from some specified medical events. This insurance policy will be very crucial to assist with accommodation and medical expenses if divorcee suffers from serious injury or illness. This policy will also help divorcee with extra flexibility when it comes to continued expenses for family and work arrangements.
2. Term life policy to protect divorcee’s beneficiaries
This insurance policy is going to pay lump sum payment if divorcee passes away or if she is diagnosed with terminal illness. The benefits or payments will be paid to divorcee’s nominated beneficiaries. it is very important to look for advice on beneficiary nomination. This is especially important if divorcee’s nominated beneficiary involves kids and if she needs to be sure that kids’ needs are totally covered.
3. Income protection to anticipate any bad accidental things in the future
Divorcee may be the caregiver of the kids or the kids’ financial provider. No matter who the divorcee is, she needs to get income protection. This policy is going to help divorcee continue providing financial support and stability if something bad like permanent or temporary disability happens. When choosing this policy divorcee must consider financial contribution for childcare and/or the kids themselves.
4. Insurance policy for total permanent disability divorcees
This kind of insurance policy belongs to employees and also homemakers. Homemakers can use this policy’s payment to hire the professional who will perform household duties in case that homemaker becomes unable to do those duties because of the permanent disability. This insurance policy is truly important to help divorcee managing her needs while supporting her children.
5. Pension protection to support divorcee’s kids
Divorcees are suggested to opt for pension protection that comes with life insurance. Civil servant usually have pensions, which build until the retirement and both ex-spouses will be entitled for equal share. Early death of the ex will threaten pension amount shared to former couple. That’s why life policy is needed, to protect ex-spouse’s future earnings.
You’re not the only one who believes that divorcee insurance policy is complicated. But you definitely need to understand those policies if you’re about to get divorced. Or, you better do your best to fix your relationship with your husband so that your kids’ life wont be messed up.