Divorce Source: Life Insurance and Distribution in Divorce

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Life Insurance and Distribution in Divorce

Information Provided by: Divorce Source, Inc.

When all or part of the life insurance policy is marital property, the owning spouse is generally awarded the life insurance policy, and the non-owning spouse is generally awarded cash or other property equal to his or her equitable share of the policy.

In re Ryman, 172 Ill. App. 3d 599, 527 N.E.2d 18 (1988);

Leveck v. Leveck, 614 S.W.2d 710 (Ky. Ct. App. 1981);

Grost v. Grost, 561 S.W.2d 223 (Tex. Civ. App. 1977).

Information Provided by: Divorce Source, Inc.

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DIVORCE AND INSURANCE -- Upon divorce, the responsibility and expense of maintaining appropriate policies must be taken into account. Divorce may shift the responsibility for the maintenance of a variety of insurances, including health, auto, homeowner, and property.

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