You can change your term insurance nominee whenever you want. If your ex-wife is your term insurance nominee, you can take the below actions:Remove your ex as the nominee on your term planInform your insurer about why you want to change the nomineeSpeak to a legal advisor if your policy is included in your divorce settlement to avoid future disputesWhile the process is fairly simple, the problem arises when your ex is also the assignee of your policy aka she has the sole right (ownership) of the policy.It is different from a nominee who only gets the insurance money after your death but doesn’t have the rights to the policy.In that case, you need to get them to reassign you the policy before the divorce is finalized.Lastly, you can add new nominees to your term plan such as:Your new spouseYour childYour parentsIf your new nominee is a minor child, don’t forget to appoint a legal guardian (appointee) who will receive the insurance money on behalf of your child.If you are currently unmarried but are dating someone, you may want to make your partner your nominee. Sadly, you can’t.