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While your marriage may be over, it is still possible to purchase life insurance on your ex-spouse and do so at affordable rates depending on the circumstances.

Because many couples still have mutual interests even after the divorce, such as child support, for example, having life insurance as part of the coverage makes sense if there will be a considerable financial loss in case the worst should occur.

Insurable Interest

To ensure your ex-spouse, there needs to be a financial reason for the insurance to exist. Establishing an insurance interest may include the following;

  • Child Support
  • Alimony Payments
  • General Financial Support

Basically, if your spouse is responsible for paying for something that you or your children need, then they have an insurance interest.

What Do You Need to Get the Policy? Basic Requirements

Once insurance interest has been established, the next requirement is that the ex-spouse knows about the insurance policy. This is because he or she will be required to answer some questions to determine the risk they present. This may include a medical exam which many ex-spouses may not want to participate.

However, if the beneficiaries include the children or perhaps some charity or organization they support, it may be easier to get cooperation.

Keep in mind that you are still the owner of the policy, the ex-spouse is simply the one who is insured. This means that you maintain control and access to the policy while the ex-spouse has no say in the matter. You can keep the policy or end it anytime you want since you are the owner.

Why Choose Life insurance on Your Ex-Spouse?

There are good reasons why you should consider this type of policy, especially when the financial connection is still quite strong.

Child Support & Education: Child support payments are crucial for so many who have been given the responsibility to raise the children.

The life insurance policy will ensure that such payments are compensated in case the worst should occur. Once the children reach 18 years old, the benefits may be used for college tuition, paying for trade school, or to help them get starting in life.

Paying Alimony: Life insurance will compensate in cases where alimony payments are required, but the estate of the deceased cannot fulfill them in case the worst should occur.

The level of the life insurance policy is of your choosing, so depending on the risk and your budget you can have enough benefits to keep yourself financially stable for a time.

General Financial Support: This means any financial support that the ex-spouse offers that is considered an insurable interest. Payments on the mortgage, financing a business, and going to school are just some of the financial interests that can be supported with a life insurance policy.


For anyone who is concerned about financial stability, getting life insurance on ex-spouse can bring peace of mind.

You can select the right benefit level that works for your needs and maintain the policy to cover payments to you, your children, and important needs that your ex-spouse has financial responsibility.