What Happens In Florida If My Ex Dies While My Kids Are Still Young? Should I Ask For Life Insurance As Part Of The Divorce?

Yes, if you are concerned about providing the sole support for your children while they are young if your ex-spouse were to die, you should negotiate a life insurance policy on your ex’s life that will provide for the children in the event of the parent’s death as a part of your divorce.

This is a common provision in divorces with minor children. Typically, both parents will agree to provide a policy in the amount of the child support obligation which is payable to the other parent or a trust for the benefit of the children.

The life insurance policy may be designed only to provide for child support, and in that event may be cancelled once the children are no longer minors. Life insurance may also be required to provide for alimony, in which case it will be required to be maintained as long as the alimony requirement lasts.

When you are negotiating life insurance as part of the divorce, pay careful attention to who is the owner of the policy. The owner is the person who controls the policy and has the right to name beneficiaries.

You may wish to make sure the custodial parent is the owner of the policy, so that the custodial parent can ensure the policy is maintained as required in the court order. You may also be concerned about if you are not the owner of the policy, your ex will let it lapse.

You could include a provision in the divorce decree that states that if the beneficiary is changed or the policy is allowed to lapse, you or your children are entitled to an amount of his or her estate in an amount equal to the death benefit.


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