Insurance protection for Child Support

This is a nice article how the court can order life insurance to be maintained by the parent responsible for making child support payments. This is done to protect the residential parent in the event of the untimely death of the spouse required to pay child support. While life insurance is one mechanism to ensure that child support payments are protected, another way to accomplish the same result is through Social Security. The parent responsible for child support may be entitled to a monthly Death Benefit through Social Security that meets or exeeds their child support payments. Even if it doesn’t, that portion could be used in conjunction with life insurance benefits to cover the monthly child support. So look at your Social Security statement that is mailed usually every March to see if you have accumulated a Monthy Death Benefit. If you have, you can name your children as beneficiaries and they would be entitled to receive these benefits if you are deceased.

By using this option, you can reduce your expense for life insurance to cover child support in your divorce proceeding partly if not entirely. If you have any questions, please feel free call me to discuss this further.

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12 Responses to Insurance protection for Child Support

  1. Dallas Cpa says:

    Thank you for the article. I think it should be a Federal law requiring parents “requiring life insurance to be maintained by the parent responsible for making child support payments.” I don’t have children, but this is not a bad idea at all.

  2. admin says:

    Each state should be required to require parents obligated to provide child suport to have an insurance policy in place to benefit the children in the event of the paying parents’ death. Thanks for your thoughts!

  3. Scottie Raef says:

    Hi. I treasured to drop you a quick note to impart my thanks. I’ve been observing your blog for a month or so and have picked up a heap of good information as well as enjoyed the way you’ve structured your site. I am attempting to run my own blog however I think its too general and I would like to focus more on smaller topics.

  4. Jama Vandis says:

    Interesting blog you got here but I can’t seem to find the RSS button.

  5. would it be possible to translate your website into spanish because i have difficulties of speaking to english, and as there are not many pictures on your website i would like to read more of what you are writting.

  6. Jorge Nadler says:

    I didn’t understand the concluding part of your article, could you please explain it more?

  7. I was looking for in regards to selecting a family attorney.

  8. admin says:

    My point was that if you have sufficient benefits with social security to provide coverage for your future child support payments if you die, there may be no need to have life insurance at your expense for such a contingency

  9. botmaster says:

    I was looking for this thanks for the information.

  10. I think that is an interesting point, it made me think a bit. Thanks for sparking my thinking cap. Sometimes I get so much in a rut that I just feel like a record.

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