Insurance Changes to Address in an Illinois Divorce

 Posted on December 00,0000 in Divorce

When you are going through a divorce, there are many changes that you will notice. These can range from obvious ones -- such as your living arrangements or income -- to ones you may not necessarily think about all of the time -- like insurance. Insurance is something that you will almost always need, but it is also something people do not necessarily think about. Many people forget about insurance changes when they are going through a divorce because compared to other things you might be dealing with, it may not seem very important -- but it is. Taking care of these crucial changes to your insurance policies can save you grief and money in the long run.

Life Insurance

If you have a current life insurance policy, you may need to reevaluate the terms of the policy before you finalize the divorce. As long as there are no ongoing obligations, such as child support or spousal maintenance, you may want to think about removing your ex-spouse as a beneficiary on your insurance policy.

Health Insurance

Health insurance can be tricky to deal with after a divorce. Once your divorce is finalized, you cannot stay on your spouse’s health insurance plan, so you will have to obtain health insurance through a different route. One way is to enroll in health insurance through your employer. Another way is to enroll in health insurance through a private company or through Illinois’ health insurance marketplace. Lastly, as a stepping stone, you can keep the health insurance coverage from your spouse, but pay for it yourself by electing for COBRA coverage. This allows you to buy coverage for up to 36 months.

Car Insurance

Once you determine who is keeping which vehicles, you must then figure out the car insurance situation. You will need to get a new car insurance plan after you finalize the divorce. The best thing to do is to compare insurance policies and prices from a variety of providers, including your current provider. Then, determine which one would be the best fit for you. If you have children who are also of driving age, you should check with your insurance company to find out if your children must be on both you and your ex’s policies, or just one.

Let a DuPage County Divorce Attorney Help You with Your Insurance Matters

There are a thousand and one things that you must worry about when you get a divorce -- insurance does not have to be one of them. With help from a knowledgeable Aurora, IL divorce lawyer, you can make sure that all of your financial and insurance needs are taken care of. At the Law Office of Matthew M. Williams, P.C., we understand that a divorce can put a lot on your plate. Let us take some off of your plate -- call our office today at 630-409-8184 to schedule a consultation.

Source:

https://www.nerdwallet.com/family-law-attorney/insurance/insurance-after-divorce/?trk_location=ssrp&trk_query=divorce&trk_page=1&trk_position=8