Divorce and Insurance

Ending your marriage affects almost everything in your life. In addition to taking an enormous emotional toll, it forces you to reassess every aspect of your personal finances ... including insurance.

What you need to know:

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COBRA -- COBRA, which is the Consolidated Omnibus Budget Reconciliation Act, guarantees that all individuals who are covered by medical insurance have the right to continue coverage for a monthly fee if employment or marital status changes. A nonemployee spouse in a terminated marriage is entitled to COBRA coverage at his or her own cost for up to thirty-six months.

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