Divorce Insurance - Personal Financial Restoration v. Family Restoration?

Car Insurance, Homeowner's Insurance, Health Insurance, now Divorce Insurance???

A recent local news story featured just that - divorce insurance - a fast growing industry serving personal interests in family breakdown. The story can be viewed here: http://www.wtkr.com/videobeta/?watchId=23a2357a-5864-4797-8455-15aee2939554. The company's founder stated, "... you see some sort of cracks in the foundation that would cause you concern that your marriage may not last, and the solution is WedLock Divorce Insurance." The solution, really? In an age of no-fault divorce, this seems like another incentive to get out of a marriage. What is most chilling is that when you purchase this insurance, your spouse does not even have to know you have a policy. Unlike a prenuptial agreement, in which spouses must agree, divorce insurance guarantees privacy - and a rift in trust for the insured. If your spouse finds out, you just might need that insurance!

Upon learning of such a unique insurance industry, I was very concerned that most people who would believe they need this type of insurance would not be able to afford a policy that would be of great benefit. The company's website (www.wedlockdivorceinsurance.com) states that upon divorce, it pays out one lump sum, up to $250,000, depending on the policy. But beware - at best the payout may cover attorney's fees and a few months worth of child support or alimony. A policyholder who is uneducated about the dramatic costs of divorce may not understand the financial devastation that often accompanies divorce since litigation alone can cost tens of thousands of dollars. No one is financially stable after a divorce is finalized. On the contrary, it takes years to recover from the financial impact of divorce, and some women may never recover, following in the pattern of the feminization of poverty.

Generally, insurance is purchased for protection against an event we hope does not occur, such as an automobile accident or medical emergency. Divorce insurance is most likely purchased with that same hope - that it will not happen. However, divorce insurance may actually end up ensuring divorce. Purchasing a policy may create a false sense of financial security. A policyholder, relying on that false sense of security, may hastily file for divorce without first attempting family restoration.

Finally, this insurance does nothing to protect those most vulnerable in divorce - children. One simply cannot insure against the emotional and mental impact divorce has on children. To learn more about the effects of divorce on children visit: http://www.regentfamilyrestoration.blogspot.com/search?q=Spare+the+Child

At first glance, divorce insurance may seem like a good idea, especially when one considers the divorce rate. A second look reveals that it plainly fails to insure against the damaging effects of divorce - financial ruin, mental and emotional strife, and family destruction. Additionally, in some cases, it may encourage divorce. Clearly, the reward of purchasing a divorce insurance policy is significantly diminished by the risk it poses to the stability and restoration of families.

V. Keely Norman, Regent Juris Doctor Candidate 2012, guest blogger