Do You Need Divorce Insurance?

By Marianne Beach,

We've all heard of pre-nups, but this is a little different. A company out of North Carolina is

now selling "divorce insurance."

That's right. According's website: "The casualty insurance is designed to provide financial assistance in the form of cash to cover the costs of a divorce, such as legal proceedings or setting up a new apartment or house."

Related: Divorce-Proof Your Marriage

Completely crazy? Well, maybe not. My friend's difficult divorce cost her over fifty grand in lawyer fees alone. And with the statistical probability of divorce being a lot higher than, say, fire or flood--divorce consultant Nany f-- an, MFT says it might not be a bad idea to consider at least some kind of fund, if not actual insurance.

"Divorce brings out the worst in people," she says. "It's common for the higher earning spouse to block (or limit) financial access from the partner, making it an unpredicted hardship."

Related: Why So Many Couples Are Breaking Up But Staying Together

She says divorce insurance can be an easy way for the lower earning spouse to protect his or herself and provide financial security for the family during the difficult time.

"There are proven factors that increase a person's chances of divorce (i.e. different races/religions, age at marriage, number of marriages) and not being prudent is foolish," she says.

So how does it work? sells units of insurance for $15.99 a month, with each unit providing $1,200 in coverage. So ten units would give you $12,500 in coverage.

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The question, of course, becomes how do you float this decidedly unromantic idea to your truly beloved? f-- an suggests scheduling a time to talk about the "business" of your marriage. "Allot two hours," she suggests. "In order to be prepared, openly state what the meeting will be about (i.e. rate of divorce and worst case scenario planning). Each partner should come prepared with a list of brainstorming ideas and research materials."

Of course, since divorce insurance is a new concept, f-- an says you might want to consider waiting a few years to let them work out the kinks. But that doesn't mean you shouldn't be prepared on your own in the meantime. "Whether a person buys divorce insurance or [sets up] their own self-insuring, dual-signature divorce fund account is up to the couple."

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