Life Insurance and Distribution in Divorce
Key Points
  • When the life insurance policy is considered marital the person who owns the policy would be awarded the policy but the non-owning spouse would be awarded a cash amount for equitable distribution purposes.

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).



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PAYMENT RESPONSIBILITIES -- Payment of premiums on insurance policies can be part of the divorce settlement, and some insurance, such as whole life, may be assets in a marriage.

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