Along with everything else in your life, your insurance policies have to change when you Separate or Divorce. The Attorney-Mediator will guide you to specific agreements but here are some general considerations.
Life insurance policies have a death benefit amount that is usually designated for the other spouse to receive upon your death. If there is an alimony payment, there may be a need to keep some of that coverage in place, but the balance of the death benefits (or all, if there is no alimony) are usually left to the children.
Health insurance coverage for children is usually the responsibility of the person who has the best coverage through work. The parents share the responsibility for out-of-pocket premiums due.
As for the spouse who has been covered under the other’s work policy, they can continue to remain covered when there is a Separation. If a divorce decree is issued by the court, then they are no longer eligible to remain on that policy. They can continue coverage with the same company under COBRA law, but the premiums are usually extremely high. Generally they find health insurance coverage with their own employer or look for private insurance coverage. Private insurance has become easier to find with the Affordable Care Act.
Auto insurance needs special attention right away when one spouse leaves the household. Since this type of insurance is based on where you reside, you must let your insurance company know the minute you no longer reside there. If there ever is an accident that results in an expensive claim, they can and do deny you coverage if they find you no longer reside at the same address.
Disability insurance can be very hard to get but very important to have if you are too ill or disabled to work. If you have it through your employer, that gives you added security. If you do not, it is certainly worth checking into purchasing a private policy if you can afford to do so.
Insurance is a safety net that becomes even more important when you no longer have the financial safety net of your spouse and their family. Your Attorney-Mediator and Financial Counselor will work with you both to ensure that you are adequately protected.