Divorce Insurance: When a Pre-Nup Isn't Enough

Updated: 10/19/2010 11:03 pm
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BIRMINGHAM, AL (WIAT)---You protect your car, your home, your life.  What about protecting yourself from the cost of divorce?  

We all know weddings can cost thousands of dollars. But so can a divorce.

From court costs and alimony to moving expenses, divorce can drain more than your emotions.

It can also drain your bank account. Now, there's an option when a pre-nuptial agreement isn't enough… Divorce Insurance!

“I don't see anyone in my office who comes in who expected to be divorced on the day they were married, or at least that's very rare,” said Heather Fann, Birmingham divorce attorney.

No one likes to think about divorce, especially when you're about to get married.

But the reality is, nearly half of all marriages end in divorce, and it doesn't always end nicely.

"If somebody on the other side of your divorce case wants to give you a hard time, it's generally hard to keep them from giving you a hard time and when they are, it's generally expensive,” said Fann.

Price varies by state, but the average divorce can cost well over $16,000! That’s a big chunk of change not everyone can afford, which is why one company is selling divorce insurance.

Dubbed “WedLock,” the company claims to provide a ‘financial safety net,' should your marriage fail. Thus, if you have an effective policy, you could get paid thousands of dollars in cash.

This has recently become a new option for soon-to-be newlyweds.

"It tells me that something in their mind may already be saying, ‘I’m not quite sure. Is this right for me? I’m gonna take out an insurance policy in case it doesn't work out,’” said Joan Leary, Birmingham marriage counselor.

While some would say it's a smart way to go, others believe pre-marital counseling is a far better investment.

"I would rather see someone get a foundation of great communication at the outset before making the marital commitment,” said Leary.

For more information on divorce insurance, how much it costs and what it can do, click on the “Related Links”--- It will take you straight to the WedLock Divorce Insurance website.

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