Health and life insurance coverage concerns during split

When Georgia couples are going through a divorce, they have many issues to negotiate. Often, as a result, concerns about insurance policies are forgotten. However, health and life insurance policies are two types of insurance that should be addressed during the split. Being informed about the way divorce can affect coverage and planning for these changes can make the transition into life post-divorce easier.

Life insurance can be quite important for those who receive spousal support because payments, which usually end when the person paying dies, might continue with the support of life insurance. If alimony is a requirement of a divorce settlement, the spouse receiving support might benefit from owning the policy and paying the premiums to ensure that the policy is kept up to date and that no changes are made. Life insurance policies should also be set before a divorce is final in case the paying spouse is determined to be uninsurable so that appropriate changes to the agreement can be made.

Health insurance is the other type of insurance that divorcing spouses should focus on. In many cases, people are covered under the higher-earning spouse's insurance. Once a couple splits, COBRA is a short-term but expensive option to continue coverage. COBRA allows the person to continue under their ex-spouse's insurance for up to three years. However, the person pays the full premium plus administrative fees. The Affordable Care Act provides more cost-effective options to get coverage for those who do not have access to their own employer-sponsored insurance.

Georgia residents who are going through a divorce might benefit from the guidance a family law attorney provides. A lawyer may help with planning, negotiation and representation in court as well as clear explanations about the process itself.

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