North Tampa Legal Group, PA

Do I need to change my insurance policies post-divorce?

On behalf of North Tampa Legal Group posted in divorce on Thursday, March 16, 2017.

When you go through a divorce in Tampa, the number of changes you must deal with can be overwhelming. While making changes to your insurance policies may not be one your highest priorities, it is important and can go a long way toward making sure the proper protections are in place. Here are some of the main ones you may want to consider taking a look at.

The insurance that you probably use the most is your health coverage. If your spouse was on your health care plan, you will need to have them removed once the divorce is final, according to NerdWallet. If you were on your spouse’s plan, you will need to find your own coverage. You can get health insurance through your employer if offered, or you can purchase a policy on your own.

Another important policy to consider is your life insurance policy. If you took the policy out while you were married, your spouse was most likely the beneficiary and you may now wish to name somebody else. On the other hand, if one of you has a financial obligation toward the other as a result of the divorce, it may be important for the recipient to be named as a beneficiary so that he or she will receive a payout in the event they lose that income if the other person dies.

If one of you is staying in the marital home, changing the homeowner’s insurance policy to remove the other person is a good idea. Finally, if your auto policies were in both of your names, you may want to make sure that your name remains only on the policy that covers the car you drive. This information on this topic is general in nature and should not be considered legal advice.