There is seemingly no part of your life that will go unscathed by your impending divorce, and though you may know that you’ll have to divide your property and assets, there are many other factors that will need to be discussed. These include covering what’s going to happen with your various insurance policies that you and your spouse are likely both named on.
If you would like to know how your divorce will affect your insurance policy in Indiana, read on.
What to Expect from Your Health Insurance Policy
The majority of married couples have health insurance through one spouse’s (usually the higher-earning spouse) place of employment. Upon your divorce, the spouse who does not work for the company will need to be removed from the policy.
If this is you, you will then need to go about securing health insurance on your own. This could be through your own employer, a private health insurance policy, or through Medicaid.
Adjustments to Your Auto Insurance Premium
Auto insurance is much easier to make adjustments to, as you can simply go online and remove your soon-to-be ex from your auto insurance policy. Or, if you are on your spouse’s auto insurance, we’ll be able to discuss how long you will remain on the policy, and set up a plan to obtain your own auto insurance.
Making Changes to Your Life Insurance Policy
Life insurance policy changes are critical when you divorce. If you were to pass away, your spouse, if they are your beneficiary, will be entitled to the life insurance policy payout.
If you are the beneficiary on your spouse’s life insurance policy, you won’t have to do anything when it comes to making changes. But, if you have taken out a life insurance policy, you’ll want to change your beneficiary so your ex doesn’t cash in on your death after you’ve already gone your separate ways.
Get in Touch with an Indiana Divorce Lawyer
The end of a marriage is nearly always difficult, and there are many details that will need to be carefully reviewed. You can get in touch with an experienced Indiana divorce lawyer at Rowdy G. Williams Law Firm if you want to protect your best interests during this difficult time.
You can give our office a call at 1-812-232-7400 or fill out the quick contact form we have included at the bottom of this page to schedule your no-cost case review.