Divorce Now Safe With Divorce Insurance

By Priya Devi

Wednesday, September 29, 2010, 8:56

With the growing insecurity in life, insurance has become the most important possession for an individual. Not even marriage is a secured relationship. The rate of marriages are much lesser than divorce and thus we now have divorce insurance.

The Divorce insurance, is the perfect gift which parents can present their children with, specially if it is a marriage against their wish. The divorce insurance was started by John Logan who has suffered a bad marriage and was left bankrupt.

It is an unusual form of casualty insurance that gives the policyholder a nice payout once the marriage is officially over. The insurance plan that costs around 16 dollars per month for each 1,250 dollars of coverage. The person needs to pay in advance for at least four years before their policy would take effect and pay out money.

There"s an added premium of 250 dollars per unit for each additional year that the marriage lasts after the fourth year.

Anyway, relationship coach Mimi Daniel says, "The best insurance against a painful, financially devastating divorce is to find a way to be happy in your marriage. Divorce insurance implies from the beginning that ending the relationship is already an option".

But Logan expects his innovative insurance to become popular, either as part of a prenuptial agreement or as a gift for a bride or groom from concerned friends or relatives.

"Mom or Dad could buy this for their son or daughter without them knowing about it," says John Logan.