One of the most obvious fears encountered by people who are contemplating a divorce is the cost involved if the case is litigated or otherwise drawn out. Clearly, no one can deny that there have been many examples of people’s assets being all but exhausted during this difficult and sometimes expensive process, and one company has responded to these fears by offering divorce insurance coverage that’s marketed as helping you cover your costs should you decide to end your marriage.
However, this company’s policy specifics simply do not add up when applied to common sense. The average policy premium is $15.99 per month, but the biggest requirement involved with the policy is that a claim that’s filed will not pay out the $1,250.00 in coverage unless the couple has been married for at least four years. Working out the basic numbers, that means that a policyholder will need to pay in at least $767.52 in premiums in order to have an opportunity to recover the full amount of protection.
Clearly, this does not make much financial sense, especially when one considers that $1,250.00 in coverage will not provide much of a safety net for a couple that decides that it’s time to end their marriage. Most experts have advised people who want to protect themselves somewhat against the costs of a divorce to simply open an account and to begin saving what they can.
San Diego Divorce Lawyers
Clearly, there is no way to accurately plan in a financial sense for a divorce for most people, especially when one considers that one of the biggest reasons that divorces are sought is because of financial concerns. Those who think that a divorce may be possible at some point down the road would do well to take certain financial steps to protect themselves, but those steps are largely unique to that individual situation.
If you are considering bringing about an end to your marriage and you want to do what you can to protect your financial interests, you need to seek the help of San Diego divorce lawyers who have been fighting for the rights of husbands for many years. Contact the Men’s Legal Center today to schedule an initial consultation.