I’ve written before about the complications of combining lives when it comes to insurance. Oh the choices to make! The forms to fill out! All so that if one of us dies or gets sick or disabled, we’ll still be able to live life. But I’ve found the one insurance that Jeff and I aren’t getting. Nor would we consider getting. Divorce insurance.
WedLock is a company that offers divorce insurance. Here are the details:
-It costs $16/month for every $1,250 pay out. So, if you wanted $50,000 in coverage, you’d pay $600/month.
-You must hold the insurance for 4 years before getting divorced. (That way you don’t take it out just as you start to file).
-For every year you’re married past 4 years, they give you another $250.00.
“So if a policyholder who bought 10 units got divorced after 10 years, he or she would have handed over $19,188 and would receive a payout of $27,500.”
“Logan [the creator], who is recently engaged and, yes, is buying policies for himself and his betrothed, expects WedLock will become part of prenuptial agreements or be purchased for a bride or groom by relatives concerned about their loved one’s choice of loved one. “Mom or Dad could buy this for their son or daughter without them knowing about it,” he suggests. But the bride or groom has to be the beneficiary. Sorry, scheming mother-in-law, no windfall for you.”
Can you imagine getting that as a wedding gift? I just picture someone saying: “Best wishes! I’ve bought you a divorce insurance policy in case your marriage to this schmuck of a guy doesn’t work out.” My reaction? “Umm…thanks….you’re no longer invited. Nor my friend.”
Can you imagine bringing this up to your future spouse? I guess if you’re already bringing up the pre-nup agreement topic, this isn’t that much different. But wowzers…