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Protection From Marriage: Divorce Insurance, Prenuptial Agreements and Cohabitation Agreements

A recent survey by the American Academy of Matrimonial Lawyers revealed that 73% of attorney’s who practice marital and family law are reporting an increase in the demand for prenuptial agreements. Broward divorce attorneys believe that the recession has effected people’s assets which now require protection in the event of a dissolution of marriage. Nowadays, the demand for prenuptial agreements is seen in the middle class and those individuals with substantial assets. While some individual’s want no responsibility for their spouse’s dent, others are protecting their pensions, 401k and retirement from equitable distribution.

An entrepreneur has recently created divorce insurance called WedLock. Customers are able to decide the size of the policy and the monthly premium based upon the selected plan. Divorce insurance polices range from $99 to $1,073 per month. Claims can not be submitted until a policy holder has had the plan for 36 months.

Marriage rates in the USA continue to drop. In 2000, 34.5% of individuals aged 25-34 had never been married. In 2009, the number increased to 46.3%. While marriage rates have dropped, many couples have just decided to live together and enter into a cohabitation agreement.