Life Insurance and Distribution in Divorce
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.
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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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Life Insurance and Divorce
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