904DIVORCE.com» Life Insurance http://www.904divorce.com Jacksonville divorce information and resources Wed, 15 Jul 2009 02:05:04 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 © leitmanlaw@gmail.com () leitmanlaw@gmail.com() Steven A. Leitman, P.A. 252 3rd St, Neptune Beach, Fl 32266 Phone: (904) DIVORCE (348-6723) leitmanlaw@gmail.com No no http://www.904divorce.com/wp-content/plugins/podpress/images/powered_by_podpress.jpg 904DIVORCE.com http://www.904divorce.com 144 144 Life insurance – general information http://www.904divorce.com/2009/05/03/life-insurance/ http://www.904divorce.com/2009/05/03/life-insurance/#comments Sun, 03 May 2009 19:33:14 +0000 Steve Leitman http://www.904divorce.com/?p=73 Life insurance is sometimes used to secure an award of child support or alimony. Under Florida law it is not an automatic that life insurance will be ordered solely on the basis that support has been ordered.

There are several factors that the court looks at in determining whether a paying party shall maintain life insurance. The top factor is whether life insurance coverage is reasonably available to the paying party (both as to availability of coverage and affordability of coverage).

When life insurance is provided by a paying party’s employer at an affordable cost, then the issue becomes easier to resolve. Some agreements contain language to the effect that the paying party will maintain life insurance for so long as it reasonably available through their employment.

The receiving party will sometimes request that the paying party purchase (or maintain if already in existence) an independent private policy. This way the life insurance coverage is not tied to the the paying party’s employment.

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