Ways to shield your life assurance policy while going thru a divorce.

you purchase life assurance to guard your folks from loss springing from your death. Read more about life insurance for seniors. - you could be able to transfer ownership rights of the policy as an element of a property settlement or to guarantee continuation of alimony payments. Naturally, you want to make sure that your policy remains a prized asset by keeping up premium payments. - Don't overlook the chances life assurance may provide for dealing reasonably with kids from your prior marriage. The insurer goes to court for the policy holder, but the courts award additional cash than the face value of the policy. The policy holder necessarily doesn't have that much in liquid assets and therefore, they lose everything they have.

Now then, the cool thing about an umbrella policy is they start only if your other insurance programs max out and they're not that costly to get. In the business world these are very common paths to shield your company, for people they're reasonably common with high-net-worth people. When you die, proceeds bypass the probate process and pass immediately to your adult youngsters.