You have a lot going on if you’re going through a divorce. You have the actual legal process, as well as several ancillary tasks you need to complete. This can range from moving to a new home (depending on how property division goes) to changing your name. Among the important tasks that some people overlook is updating your insurance after divorce.
Life Insurance Policies
If you currently have a life insurance policy, change the name of the beneficiary from your former spouse to another beneficiary. Check if your insurer will automatically erase these details in the event of a divorce. If your insurer does that, you have to fill out new forms all over again. If you want your spouse to remain the beneficiary, include his or her name in the new forms.
If as part of the divorce settlement your spouse agreed to retain your name as the beneficiary, check that your name still features as the beneficiary. You can get in touch with the insurance company and ask that the company notify you if there is any change in the policy documentation.
Auto Insurance
Follow up on whose name is on the insurance policy for the car that you’re driving. The policy on any car that you are driving must only mention you as the owner of the insurance policy, and perhaps your kids as well if they are of the appropriate age. Check with the insurance company, and get all relevant documentation including a declaration page that defines the coverage amount as well as the persons covered.
Health Insurance
If you continue to retain coverage under your former spouse’s employer-based health insurance, then you must file paperwork for continued coverage under COBRA laws. This allows you to continue your coverage on this policy, but make sure you act quickly because there is usually a 60-day time limit to set up. The continuation of coverage lasts between 18 and 36 months.
An Attorney Can Help with Divorce-related Matters
After a divorce, an insurance policy won’t update itself. The requisite changes don’t take effect automatically once you finalize the divorce agreement. You have to follow up with the insurance companies to update beneficiaries and ensure that the insurance reflects the provisions of your divorce agreement. Get legal advice from a family lawyer at the Law Office of Julie Johnson. Call 214-265-7630 to set up a consultation or use our online contact form to set up your consultation.
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