“How can I ensure my ex-spouse will pay the premiums of the life insurance policy?”
The beneficiary spouse should attempt to monitor the policy to confirm that it remains in force. A replica invoice could be requested for the beneficiary ex-spouse. Some carriers may offer an automatic notice when the premium is paid. If not, the beneficiary ex-spouse may simply be able to call a toll-free number some time after the premium notice has been received to authenticate actual payment. This is important because if the policy lapses and the insured ex-spouse is no longer insurable, there may be a substantial problem.
First Cardinal Financial Services founder, Joe Faulk, currently holds Series 6 and Series 65 securities licenses and is currently licensed with over 17 health and life insurance carriers in Florida. He has been licensed to sell health and life insurance in Florida since May, 2002 and specializes in divorced decreed insurance.