Suddenly Single? Review Your Life and Disability Insurance
Aug 26, 2013
Jamie Fleischner

Jamie Fleischner

26 Aug, 2013

At Set for Life Insurance, our motto is “Life Changes. Get Set.” One of life’s biggest changes can occur when you are divorced or widowed and you find yourself suddenly single. This is an important time to review your life and disability insurance situation.

If you are now single, you are even more dependent on your own income since you can no longer depend on someone else. As such, you need to make sure it is properly protected. Even if you have a group policy through your employer, it is important to read the fine print and ensure it will cover your needs.

Recently I had a surgeon contact me who was going through a divorce, living here in Colorado.  She had two dependent children and her husband was a stay at home Dad.

Her whole world was turned upside down. She was keeping the house and had shared custody of the children and found herself paying support to her ex who was a stay at home dad. Even though she had a group policy through her employer and an individual policy through Set for Life, she now needed more benefit to cover these obligations. We were able to adjust her policy to cover those needs.

In addition to the disability insurance, she needed to increase her life insurance. As part of her divorce agreement, she needed to carry additional life insurance with her ex-husband as beneficiary to continue her obligations even if she were to die prematurely.

In another situation, I had a client contact me whose husband recently passed away. Even though he had adequate life insurance, she wanted to ensure her minor children would still be in good shape if she were to die. She decided to go back to work as a CRNA and needed to protect her new paycheck as she was now the sole breadwinner of her family.

For more information about life insurance and disability insurance for singles, in the event of a divorce or a premature death, contact Set for Life Insurance today!

Related Posts

The Importance of Life Insurance-Firsthand

The Importance of Life Insurance-Firsthand

Life Insurance I talk to people every day about life insurance. It is always a hypothetical conversation about how much life insurance  you or your loved one would need if something happened. Most of the time, people purchase their life insurance, tuck it away and...

When Can You Drop Your Term Life Insurance?

When Can You Drop Your Term Life Insurance?

The decision to drop or cancel your term life insurance policy depends on your individual financial and insurance needs. Here are some common scenarios when you might consider dropping your term life insurance: The term has expired: Term life insurance policies have a...

We're here to help

Getting the right disability insurance can be downright confusing. At Set For Life, we'll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we're happy to walk you through it! If you're ready to get set, reach out for a quote today!