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Life Insurance and Distribution in Divorce Information Provided by: Divorce Source, Inc. 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). Information Provided by: Divorce Source, Inc. Navigate:   Home Categories Divorce and Insurance Life Insurance and Distribution in Divorce Related Article Archives Child Support Insurance & Divorce Spousal Support     All Article Archives Related Categories Collect & Paying Child Support     All Categories Related Forums Child Support Spousal Support     All Forums Resources & Tools Start Your Divorce Several Options to Get Started Today. Online Divorce Tools Keeping it Simple to Get the Job Done. Download Center Instantly Download Books, Guides & Forms. Discount Books Over 100 of the Best Divorce & Custody Books. Negotiate Online Settle your Divorce and Save. Custody Scheduling Make Sure You Document Everything. 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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