Couples in Ohio who have gone through a divorce understand what a complex and lengthy process it can be. While trying to balance everything, it is easy to overlook the family's insurance coverage. However, it is important to understand how divorce will impact insurance policies once the divorce is finalized.

In many families, one spouse is covered by the other spouse's employer-sponsored health plan. After the divorce, they may no longer have coverage. The Consolidated Omnibus Budget Reconciliation Act was designed to allow an a non-income-earning individual to receive insurance coverage under their ex-spouse's plan for about three years. While this may be a good short-term solution, it may be better to look at affordable health insurance options. The Affordable Care Act can help individuals who do not have access to employer-sponsored health plans.

When going through a divorce, life insurance is an important consideration, especially for a spouse who is expecting to receive spousal support. The individual who receives spousal support will no longer receive this if their ex-spouse dies. Unless the individual will inherit other assets that can replace the payments they receive for spousal support, they will need to be sustained by the life insurance policy.

In some divorce settlements, life insurance is required. It is often best for the recipient spouse to have ownership of the life insurance policy and make the payments.

Insurance can be a complicated topic, especially when it relates to a divorce. Working with a finance professional may be advisable. In addition, a lawyer may answer questions that individuals have regarding a high-asset divorce and the steps that need to be taken to divide those assets. The lawyer may help an individual file for divorce, assist in seeking child custody or represent the client in front of a judge during the divorce proceedings.

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